Bottle Grade PET Producers and Bottle Grade PET Market Trend
Bottle grade PET resin is made of purified terephthalic acid (PTA) and monoethylene glycol (MEG) by liquid-phase continuous polymerization/solid-phase continuous polymerization. Bottle grade PET is an environmentally friendly polyester material with non-toxic, tasteless, high transparency, high strength, high barrier, good toughness, good plasticity. The end-use product form is plastic packaging containers or shells. Bottle grade PET can maintain the intrinsic quality of food and beverages for a longer period of time, and at the same time has a high recycling value. So it is one of the most recycled and environmental friendly plastic materials worldwide.
The global bottle grade PET market size was 22.6 million tons in 2017, growing to 32.5 million tons in 2022, with a CAGR of 7.5% from 2017 to 2022. The global demand for bottle grade PET is growing steadily due to its good performance and wide range of applications as a environmentally friendly packaging material. The global bottle grade PET market is expected to reach 45 million tons in 2027, with a CAGR of 6.7% from 2022 to 2027.
The global bottle grade PET market demand is mainly located at Asia Pacific, Europe, North America. The global market demand accounts for 42.9% in Asia Pacific, 16.9% in North America, 16.5% in Europe.
The production capacity is mainly distributed in the Asia-Pacific, especially China and India. China's bottle grade PET production capacity ranks first in the world, with a global production capacity share of 35.1% in 2021. In the next few years, new bottle grade PET expansion projects worldwide will still be mainly concentrated in Asia Pacific, which will drive further expansion of bottle grade PET capacity in Asia Pacific.
Major suppliers of bottle grade PET worldwide are Indorama, DAK, Esense, FENC, Sanfame, Wankai, China Resources Chemical Innovative Materials Co Ltd (CRCIM).
Bottle grade PET products are usually sold in the form of bottle flakes, which are processed by downstream packaging enterprises into PET bottle blanks, flakes. It is widely used in the fields of soft drinks, dairy products, alcohol, edible oils, spices, daily chemicals, electronic products, medical and pharmaceuticals, on-site production of beverages, fresh fruits and vegetables.