1. Global PETG Market Revenue and Growth Outlook 2024
The PETG (Polyethylene Terephthalate Glycol) market is a dynamic sector within the global polymer industry, known for its high impact resistance, clarity, and thermoformability. The market size is anticipated to experience a CAGR of 9.62% from 2024 to 2029, reaching an estimated revenue of $987.28 million in 2024. This growth is attributed to the material’s unique properties, such as transparency, ductility, and resistance to chemicals, which make it ideal for a wide range of applications.
Global PETG Revenue (M USD) in 2024
2. Driving Factors of PETG Market Growth
The PETG market is influenced by several driving factors that contribute to its expansion. One of the primary factors is the increasing demand for sustainable and recyclable materials in packaging. PETG’s recyclability and durability make it a preferred choice over traditional plastics, aligning with global sustainability initiatives. The material’s high impact strength and clarity also make it suitable for packaging in the food and beverage industry, where consumer preferences for aesthetic and safe packaging are growing.
Another factor is the technological advancements in 3D printing, where PETG is used as a filament. The 3D printing industry’s rapid growth has created new opportunities for PETG, as it offers better layer adhesion, warp resistance, and chemical resistance compared to other materials. The medical sector’s demand for PETG is also on the rise due to its suitability for manufacturing medical devices and packaging for pharmaceuticals, which require high standards of sterilization and purity.
3. Limiting Factors of PETG Market Growth
Despite the promising growth, the PETG market faces certain challenges that could limit its expansion. One of the primary constraints is market volatility due to fluctuations in raw material prices and supply chain disruptions, which can affect PETG’s cost-effectiveness. Additionally, the presence of cheaper alternatives, such as PVC and other polyesters, can hinder PETG’s market penetration, especially in price-sensitive markets.
Environmental concerns related to plastic waste also pose a threat to the PETG market. Although PETG is recyclable, improper disposal can contribute to environmental pollution, leading to regulatory pressures and consumer preferences shifting towards biodegradable materials. Furthermore, the high processing temperatures required for PETG can be a limitation in certain applications where energy efficiency is a priority.
In conclusion, the PETG market is expected to experience substantial growth in the coming years, driven by its unique properties and expanding applications in various industries. However, the market must navigate challenges related to raw material costs, competitive pricing, and environmental impacts to sustain its growth trajectory.
4. Global PETG Market Analysis
Product Types and Revenue Projections for 2024
Extruded Grade PETG: Extruded Grade PETG is known for its high clarity and ease of coloring during processing. It is medium-cost plastic, food-approved, and commonly used in point-of-sale applications.
The market revenue in 2024 is projected to reach $381.42 million, this segment holds a significant market share due to its versatility in various applications.
Injection Molding Grade PETG: This grade is characterized by its ability to tolerate high pressure without cracking and is easily colored during processing. It is ideal for injection molding into various shapes.
The market revenue in 2024 is forecasted at $305.71 million, this type is gaining traction for its strength and reliability in molded products.
Blow Molding Grade PETG: Blow Molding Grade PETG is typically used to create transparent containers through injection molding. It is the material of choice for soft drinks and mineral water bottles.
The market revenue in 2024 is expected to be $300.14 million, this grade dominates the market for blow-molded applications.
Among the three types, extruded-grade PETG is anticipated to exhibit the fastest growth rate, driven by its suitability for outdoor applications and food packaging. The varying growth rates can be attributed to the specific advantages each type offers. Extruded Grade PETG’s UV stability and clarity make it desirable for outdoor and display applications, while Blow Molding Grade PETG’s transparency and durability make it ideal for packaging. Injection Molding Grade PETG’s strength and moldability support its use in a wide range of products, from consumer goods to automotive components.
Applications and Revenue Projections for 2024
Sheet: PETG sheets are known for their impact resistance and thermoforming properties, making them suitable for various industrial applications.
The market revenue in 2024 is expected to generate $281.58 million, sheets dominate the market due to their wide range of uses.
Film: PETG film is valued for its strength in heat-sealing and optical properties, finding applications in food packaging and lamination.
The market revenue in 2024 is projected to reach $170.02 million, films are gaining popularity in the packaging sector.
Bottle/Container: PETG is commonly used in single-use and reusable beverage bottles, edible oil containers, and food storage containers.
The market revenue in 2024 is forecasted at $210.97 million, this application benefits from PETG’s thermoforming ease and chemical resistance.
Extruded Profile: PETG’s transparency and ductility make it popular in extruded profile applications, such as point-of-sale displays and cards or menu clips.
The market revenue in 2024 is expected to be $232.89 million, extruded profiles are growing in demand for their decorative and functional uses.
The Sheet application holds the largest market share, attributed to its versatility in industrial and commercial applications. The Bottle/Container application is expected to have the fastest growth rate, due to the increasing demand for sustainable packaging solutions in the food and beverage industry.
The growth in the PETG market for these applications can be linked to the material’s inherent properties and the evolving consumer preferences for eco-friendly and durable products. The Sheet application’s dominance is a testament to PETG’s adaptability, while the Bottle/Container application’s growth underscores the shift towards sustainable packaging in the global market.
Market Revenue and Share by Segment
Market Revenue in 2024 | Market Share in 2024 | ||
By Type | Extruded Grade PETG | 381.42 M USD | 38.63% |
Injection Molding Grade | 305.71 M USD | 30.97% | |
Blow Molding Grade | 300.14 M USD | 30.40% | |
By Application | Sheet | 281.58 M USD | 28.52% |
Film | 170.02 M USD | 17.22% | |
Bottle/Container | 210.97 M USD | 21.37% | |
Extruded Profile | 232.89 M USD | 23.59% |
5. Global PETG Market Revenue by Region in 2024: An In-Depth Analysis
North America
The region’s strong presence in the automotive and packaging industries drives demand for PETG. The region’s established manufacturing base and technological advancements contribute to its market revenue. The market size is $219.25 million in 2024.
Europe
Europe’s focus on sustainability and eco-friendly packaging solutions has increased the adoption of PETG in various applications, particularly in the food and beverage sector. The market revenue in 2024 is $174.25 million.
Asia-Pacific
Growth Factors: The Asia-Pacific region is projected to be the largest market for PETG, driven by rapid industrialization, growing consumer demand, and the expanding packaging and automotive industries in countries like China and India. The market revenue in 2024 is $564.54 million in 2024.
South America
While smaller in comparison to other regions, South America is expected to experience growth due to increasing demand from the packaging industry and a gradual shift towards sustainable materials.
Middle East and Africa
The region’s market is influenced by the growing demand for PETG in the packaging and construction industries, with countries like Saudi Arabia and the UAE showing potential for market expansion.
The Asia-Pacific region stands out as the largest market by revenue, attributed to its vast market opportunities, rapid economic growth, and the increasing demand for PETG in various applications.
While Asia-Pacific leads in terms of revenue, the Middle East and Africa exhibit the fastest growth rate due to the region’s emerging markets and the growing adoption of PETG in various industries.
The varying growth rates and market sizes can be attributed to the differing stages of industrial development, regulatory environments, and consumer preferences across regions. Asia-Pacific’s dominance is a reflection of its dynamic economic landscape, while the Middle East and Africa’s rapid growth signifies the potential for PETG market expansion in emerging economies.
Global PETG Revenue (M USD) by Region in 2024
6. Analysis of the Top Five Companies in the PETG Market
Company Introduction and Business Overview: Eastman is a global specialty chemical company known for producing advanced materials, chemicals, and fibers. It operates in the USA, Spain, and Malaysia, with a global sales reach.
Products: Eastman offers Eastman Spectar™ copolyester (PETG), known for its clarity, toughness, and versatility.
Company Introduction and Business Overview: SK Chemical is a leading provider of environmentally friendly materials and healthcare solutions, with a focus on biomaterials and high-performance materials.
Products: SKYGREEN PETG products are known for their optical features and economic feasibility.
Company Introduction and Business Overview: Liaoyang Petrochemical is a Chinese company processing and producing petrochemical products, including PETG copolyester.
Products: The company has developed technology to produce PETG, breaking the technical monopoly of other players.
Company Introduction and Business Overview: ColoriLAB is a 3D printing materials company that provides specified products and mass-produces functional 3D printed parts.
Products: Offers PETG 3D printer filament known for its translucency and superior tensile resistance.
Company Introduction and Business Overview: SIMONA is a leading manufacturer and development partner in the field of thermoplastics, with a global presence.
Products: SIMOLUX transparent PETG sheets are used in various applications due to their high impact strength and thermoforming properties.
These companies play a crucial role in shaping the PETG market’s trajectory, with their innovative products and global reach. Their contributions to the market are indicative of the PETG industry’s dynamism and potential for further growth.
Major Players
Company Name | Plants Distribution | Sales Region |
Eastman | Mainly in North America and Europe | Worldwide |
SK Chemical | Mainly in Korea | Worldwide |
Liaoyang Petrochemical | Mainly in China | China |
ColoriLAB | Mainly in North America | Worldwide |
Simona | Mainly in Europe, North America, and Asia | Worldwide |
FormFutura | Mainly in Europe | Worldwide |
Village Plastics | Mainly in North America | Worldwide |
Extruder | Mainly in Europe | Worldwide |
Real Filament | Mainly in Europe | Worldwide |
Sabin Plastic | Mainly in the Middle East | Worldwide |
1 Report Overview
1.1 Study Scope
1.2 Key Market Segments
1.3 Regulatory Scenario by Region/Country
1.4 Market Investment Scenario Strategic
1.5 Market Analysis by Type
1.5.1 Global PETG Market Share by Type (2020-2025)
1.6 Market by Application
1.6.1 Global PETG Market Share by Application (2020-2025)
1.6.2 Sheet
1.6.3 Film
1.6.4 Bottle/Container
1.6.5 Extruded Profile
1.7 PETG Industry Development Trends under COVID-19 Outbreak
1.7.1 Global COVID-19 Status Overview
1.7.2 Influence of COVID-19 Outbreak on PETG Industry Development
2. Global Growth Trends
2.1 Industry Trends
2.1.1 SWOT Analysis
2.1.2 Porter’s Five Forces Analysis
2.2 Potential Market and Growth Potential Analysis
2.3 Industry News and Policies by Regions
2.3.1 Industry News
2.3.2 Industry Policies
3 Value Chain of PETG Market
3.1 Value Chain Status
3.2 PETG Manufacturing Cost Structure Analysis
3.2.1 Production Process Analysis
3.2.2 Manufacturing Cost Structure of PETG
3.2.3 Labor Cost of PETG
3.3 Sales and Marketing Model Analysis
3.4 Downstream Major Customer Analysis (by Region)
3.5 Technology Provider and Technology Licensor Of PETG
4 Players Profiles
4.1 Eastman
4.1.1 Eastman Basic Information
4.1.2 PETG Product Introduction
4.1.3 Eastman PETG Market Performance (2015-2020)
4.2 SK Chemical
4.2.1 SK Chemical Basic Information
4.2.2 PETG Product Introduction
4.2.3 SK Chemical PETG Market Performance (2015-2020)
4.3 Liaoyang Petrochemical
4.3.1 Liaoyang Petrochemical Basic Information
4.3.2 PETG Product Introduction
4.3.3 Liaoyang Petrochemical PETG Market Performance (2015-2020)
4.4 ColoriLAB
4.4.1 ColoriLAB Basic Information
4.4.2 PETG Related Product Introduction
4.5 Simona
4.5.1 Simona Basic Information
4.5.2 PETG Related Product Introduction
4.6 FormFutura
4.6.1 FormFutura Basic Information
4.6.2 PETG Related Product Introduction
4.7 Village Plastics
4.7.1 Village Plastics Basic Information
4.7.2 PETG Related Product Introduction
4.8 Extrudr
4.8.1 Extrudr Basic Information
4.8.2 PETG Related Product Introduction
4.9 Real Filament
4.9.1 Real Filament Basic Information
4.9.2 PETG Related Product Introduction
4.10 Sabin Plastic
4.10.1 Sabin Plastic Basic Information
4.10.2 PETG Related Product Introduction
5 Global PETG Market Analysis by Regions
5.1 Global PETG Sales, Revenue and Market Share by Regions
5.1.1 Global PETG Sales by Regions (2015-2020)
5.1.2 Global PETG Revenue by Regions (2015-2020)
5.1.3 Global PETG Capacity, Production and Consumption by Regions (2015-2025)
5.2 North America PETG Sales and Growth Rate (2015-2020)
5.3 Europe PETG Sales and Growth Rate (2015-2020)
5.4 Asia-Pacific PETG Sales and Growth Rate (2015-2020)
5.5 Middle East and Africa PETG Sales and Growth Rate (2015-2020)
5.6 South America PETG Sales and Growth Rate (2015-2020)
6 North America PETG Market Analysis by Countries
6.1 North America PETG Sales, Revenue and Market Share by Countries
6.1.1 North America PETG Sales by Countries (2015-2020)
6.1.2 North America PETG Revenue by Countries (2015-2020)
6.2 United States PETG Sales and Growth Rate (2015-2020)
6.2.1 USA PETG Capacity, Production and Consumption (2015-2025)
6.3 Canada PETG Sales and Growth Rate (2015-2020)
6.4 Mexico PETG Sales and Growth Rate (2015-2020)
7 Europe PETG Market Analysis by Countries
7.1 Europe PETG Sales, Revenue and Market Share by Countries
7.1.1 Europe PETG Sales by Countries (2015-2020)
7.1.2 Europe PETG Revenue by Countries (2015-2020)
7.2 Germany PETG Sales and Growth Rate (2015-2020)
7.3 UK PETG Sales and Growth Rate (2015-2020)
7.4 France PETG Sales and Growth Rate (2015-2020)
7.5 Italy PETG Sales and Growth Rate (2015-2020)
7.6 Spain PETG Sales and Growth Rate (2015-2020)
7.7 Russia PETG Sales and Growth Rate (2015-2020)
8 Asia-Pacific PETG Market Analysis by Countries
8.1 Asia-Pacific PETG Sales, Revenue and Market Share by Countries
8.1.1 Asia-Pacific PETG Sales by Countries (2015-2020)
8.1.2 Asia-Pacific PETG Revenue by Countries (2015-2020)
8.2 China PETG Sales and Growth Rate (2015-2020)
8.3 Japan PETG Sales and Growth Rate (2015-2020)
8.3.1 Japan PETG Capacity, Production and Consumption (2015-2025)
8.4 South Korea PETG Sales and Growth Rate (2015-2020)
8.5 Australia PETG Sales and Growth Rate (2015-2020)
8.6 India PETG Sales and Growth Rate (2015-2020)
8.7 Southeast Asia PETG Sales and Growth Rate (2015-2020)
9 Middle East and Africa PETG Market Analysis by Countries
9.1 Middle East and Africa PETG Sales, Revenue and Market Share by Countries
9.1.1 Middle East and Africa PETG Sales by Countries (2015-2020)
9.1.2 Middle East and Africa PETG Revenue by Countries (2015-2020)
9.2 Saudi Arabia PETG Sales and Growth Rate (2015-2020)
9.3 UAE PETG Sales and Growth Rate (2015-2020)
9.4 Egypt PETG Sales and Growth Rate (2015-2020)
9.5 Nigeria PETG Sales and Growth Rate (2015-2020)
9.6 South Africa PETG Sales and Growth Rate (2015-2020)
10 South America PETG Market Analysis by Countries
10.1 South America PETG Sales, Revenue and Market Share by Countries
10.1.1 South America PETG Sales by Countries (2015-2020)
10.1.2 South America PETG Revenue by Countries (2015-2020)
10.2 Brazil PETG Sales and Growth Rate (2015-2020)
10.3 Argentina PETG Sales and Growth Rate (2015-2020)
10.4 Columbia PETG Sales and Growth Rate (2015-2020)
10.5 Chile PETG Sales and Growth Rate (2015-2020)
11 Global PETG Market Segment by Types
11.1 Global PETG Sales, Revenue and Market Share by Types (2015-2020)
11.1.1 Global PETG Sales and Market Share by Types (2015-2020)
11.1.2 Global PETG Revenue and Market Share by Types (2015-2020)
11.2 Extruded Grade PETG Sales and Price (2015-2020)
11.2.1 Global Extruded Grade PETG Sales and Growth Rate (2015-2020)
11.2.2 Global Extruded Grade PETG Price (2015-2020)
11.3 Injection Molding Grade PETG Sales and Price (2015-2020)
11.3.1 Global Injection Molding Grade PETG Sales and Growth Rate (2015-2020)
11.3.2 Global Injection Molding Grade PETG Price (2015-2020)
11.4 Blow Molding Grade PETG Sales and Price (2015-2020)
11.4.1 Global Blow Molding Grade PETG Sales and Growth Rate (2015-2020)
11.4.2 Global Blow Molding Grade PETG Price (2015-2020)
12 Global PETG Market Segment by Applications
12.1 Global PETG Sales, Revenue, Market Share by Applications (2015-2020)
12.1.1 Global PETG Sales and Market Share by Applications (2015-2020)
12.1.2 Global PETG Revenue and Market Share by Applications (2015-2020)
12.2 Sheet Sales, Revenue and Growth Rate (2015-2020)
12.3 Film Sales, Revenue and Growth Rate (2015-2020)
12.4 Bottle/Container Sales, Revenue and Growth Rate (2015-2020)
12.5 Extruded Profile Sales, Revenue and Growth Rate (2015-2020)
13 PETG Market Forecast by Regions (2020-2025)
13.1 Global PETG Sales, Revenue and Growth Rate (2020-2025)
13.2 PETG Market Forecast by Regions (2020-2025)
13.2.1 North America PETG Market Forecast (2020-2025)
13.2.2 Europe PETG Market Forecast (2020-2025)
13.2.3 Asia-Pacific PETG Market Forecast (2020-2025)
13.2.4 Middle East and Africa PETG Market Forecast (2020-2025)
13.2.5 South America PETG Market Forecast (2020-2025)
13.3 PETG Market Forecast by Types (2020-2025)
13.4 PETG Market Forecast by Applications (2020-2025)
14 Appendix
14.1 Methodology
14.2 Research Data Source