Overview of the Global Polyethylene Terephthalate Additives Market to 2030
DUBLIN, July 13, 2022 /PRNewswire/ — The “Global Polyethylene Terephthalate Additives Market Size, Share and Trend Analysis Report by Function (Color Addition, UV Light Barrier), by Region (Asia Pacific, North America), and the report Segment Forecasts, 2022-2030″ has been added to from ResearchAndMarkets.com offer.
The global polyethylene terephthalate Additives Market Size is Expected to Reach $2.13 billion by 2030., growing to a CAGR 5.8% over the forecast period.
The market is expected to grow owing to the increasing scope of applications in the packaging, medical, and automotive industries. Polyethylene terephthalate (PET) additives offer improved chemical resistance and unbreakable attributes and hence are widely used in the packaging industry. The demand for colored plastics is increasing rapidly due to the growth of the packaging industry. The global packaging industry is witnessing significant growth, driven by the consolidated development of sub-segments, such as food, industrial, retail, consumer and medical packaging.
Changing consumer lifestyles have led to a high demand for ready-to-eat (RTE) foods. Governments around the world are encouraging the use of recycled plastic materials in single-use plastic products as part of a transition to a circular economy. The European Union has already implemented Regulation (EC) No 282/2008 designed explicitly for PET recycling processes. However, due to a few loopholes in the existing regulations, the EU is developing a new rule that is likely to drive the demand for PET bottle recycling, creating a growth opportunity for chain extender additives for PET. Recycled PET often encounters a yellowish-brown effect due to increased recycled content loading.
The yellowish effect discourages consumers from buying recycled PET bottles. The optical brightener additive reduces the yellowish effect and helps HBA, food, condiment and beverage packaging companies correct the color of packaging to provide a clear appearance. Ultraviolet (UV) light barrier held the largest market share among the functional segment in 2021. Light passing through a packaged material can catalyze an oxidation reaction in a photosensitive product and reduce its shelf life. In addition, light promotes the breakdown of nutrients in food through the formation of various chemicals, thereby causing discoloration, bad taste and the like.
UV blocking is used to prevent food quality deterioration and maintain shelf life. This is expected to boost the demand for UV barriers during the forecast period. The presence of several global companies, including LyondellBasell Industries Holdings BV, Avient Corp. and Sukano AG, should trigger competition. Pricing is the key to sustainability for market players, which has resulted in extensive R&D activities to develop cost-effective PET additives with wider acceptability, in terms of regulations. Hence, the rivalry in the global industry is expected to remain high during the forecast period.
Highlights of the Polyethylene Terephthalate Additives Market Report
UV light barrier dominated the functional segment in 2021. UV blocking is used to prevent deterioration of food quality and maintain shelf life.
Packaging is the main driver of market growth. PET color additives help provide the required color to packaging bottles of consumer products such as shampoos and automotive lubricants ranging from cosmetics to household cleaning products.
Recycled PET prices are positioned on a higher side compared to virgin PET resins. This may induce PET resin end users to source crude oil-based PET resins, which negatively impacts the demand for recycled PET and chain extender additive used in PET recycling and constitutes a limiting factor in market growth.
In July 2021, Avenir Corp. launched ColorMatrix Lactra Four, One and Zero additives. These additives include a TiO2 content between 0 and 4% and a total inorganic content of less than 4% with better processability, superior whiteness and light blocking up to 99.9% for PET in dairy packaging.
Asia Pacific accounted for the largest share of revenue in 2021 due to strong demand for products from the growing automotive and packaging industries.
In September 2020Avenir Corp. introduced its MEVOPUR ProTect Oxygen Scavenging Additive at Medtec China 2020. MEVOPUR Oxygen Scavenging Additive limits degradation of nutraceuticals and drugs stored in PET bottles.
Since the pharmaceutical and nutraceutical industry has been on an upward trend since the COVID-19 pandemic, the demand for new oxygen scavenging additives can be expected to increase during the forecast period.
Main topics covered:
Chapter 1. Methodology and scope
Chapter 2. Executive Summary
2.1 Market Summary
2.2 Sector outlook
Chapter 3. Polyethylene Terephthalate (PET) Additives- Market Variables, Trends and Scope
3.1 Market Lineage Prospects
3.1.1 Global Polyethylene Terephthalate (PET) Market Outlook
3.1.2 Global Plastics Market Outlook
3.2 Polyethylene Terephthalate Additives Market: Penetration and Growth Prospect Mapping
3.3 Polyethylene Terephthalate Additives Market: Industry Value Chain Analysis
3.3.1 Commodity trends
3.4 Regulatory framework
3.4.1 Standards and compliances
3.5 Market dynamics
3.5.1 Market Driver Analysis
3.5.2 Market Restraint Analysis
3.5.3 Analysis of market opportunities
3.5.4 Porter’s Five Forces Analysis
3.5.5 Pestel analysis
Chapter 4. Polyethylene Terephthalate (PET) Additives Market: Function Estimates and Trend Analysis
4.1 Function Analysis and Market Share
4.2 Adding color
4.2.1 Polyethylene Terephthalate (PET) Additives Market Estimates and Forecasts, by Color Addition, 2019- 2030 (Kilotons) (USD Million)
4.3 Ultraviolet light barrier
4.3.1 Polyethylene Terephthalate (PET) Additives Market Estimates and Forecasts, by Ultraviolet Light Barrier, 2019- 2030 (Kilotons) (USD Million)
4.4 Oxygen sweep
4.4.1 Oxygen Scavenging Polyethylene Terephthalate (PET) Additives Market Estimates and Forecast, 2019- 2030 (Kilotons) (USD Million)
4.5 Acetaldehyde sweep
4.5.1 Polyethylene Terephthalate (PET) Additives Market Estimates and Forecasts, by Scavenging of Acetaldehyde, 2019- 2030 (Kilotons) (USD Million)
4.6 Anti-lock braking system
4.6.1 Polyethylene Terephthalate (PET) Additives Market Estimates and Forecasts, by Antilock, 2019- 2030 (Kilotons) (USD Million)
4.7 Flame resistance
4.7.1 Polyethylene Terephthalate (PET) Additives Market Estimates and Forecast, by Fire Resistance, 2019- 2030 (Kilotons) (USD Million)
4.8 Chain extender
4.8.1 Polyethylene Terephthalate (PET) Additives Market Estimates and Forecast, by Chain Extender, 2019- 2030 (Kilotons) (USD Million)
4.9 Odor sensor
4.9.1 Polyethylene Terephthalate (PET) Additives Market Estimates and Forecast, by Odor Sensor, 2019- 2030 (Kilotons) (USD Million)
4.10.1 Polyethylene Terephthalate (PET) Additives Market Estimates and Forecast, by Antistatic, 2019- 2030 (Kilotons) (USD Million)
4.11.1 Polyethylene Terephthalate (PET) Additives Market Estimates and Forecasts, by Warming, 2019- 2030 (Kilotons) (USD Million)
4.12.1 Polyethylene Terephthalate (PET) Additives Market Estimates and Forecasts, by Others, 2019- 2030 (Kilotons) (USD Million)
Chapter 5. Polyethylene Terephthalate (PET) Additives Market: Regional Estimates and Trend Analysis
Chapter 6. Competitive Landscape
6.1 Recent Developments and Their Impact Analysis, by Major Market Players
6.2 Categorization of Major Companies/Competitions
6.3 Vendor Landscape
6.3.1 List of Major Distributors and Channel Partners
6.3.2 List of end users
6.4 Private and public companies
6.4.1 Competitive Scorecard Analysis
Chapter 7. Business Profiles
7.1 Lyondellbasell Industries Holdings BV
7.1.1 Presentation of the company
7.1.2 Financial performance
7.1.3 Comparative analysis of functions
7.2 SPEAREPET PVT LTD
7.2.1 Presentation of the company
7.2.2 Comparative analysis of functions
7.3 Gabriel Chemie
7.3.1 Presentation of the company
7.3.2 Benchmarking of functions
7.4 NYACOL Nano Technologies Inc.
7.4.1 Company Overview
7.4.2 Comparative analysis of functions
7.5 Capital colors
7.5.1 Presentation of the company
7.5.2 Comparative analysis of functions
7.6 Sukano SA
7.6.1 Company overview
7.6.2 Benchmarking of functions
7.7 Avenir Corporation
7.7.1 Company overview
7.7.2 Benchmarking of functions
7.8 Yildiz Kolor
7.8.1 Company Overview
7.8.2 Benchmarking of functions
7.9 Dutch Colors
7.9.1 Company overview
7.9.2 Financial performance
7.9.3 Comparative analysis of functions
7.10 PLASTIKA KRITIS SA
7.10.1 Company overview
7.10.2 Financial performance
7.10.3 Comparative analysis of functions
7.11 Milliken & Company
7.11.1 Company overview
7.11.2 Benchmarking of functions
For more information about this report visit https://www.researchandmarkets.com/r/lf489k
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