PET is used for packaging of bottled drinking water,
carbonated soft drinks, edible oils, juices and alcoholic
beverages
Growing demand for consumer goods is likely to grow sales of polyethylene terephthalate (PET) and polybutylene terephthalate (PBT) market in India, according to Research and Markets’ new report.
A Research and Markets’ report forecasts the Indian PET and PBT resins market to exceed US$ 1.9 billion (`12,000 crore) in 2015. According to the ‘India PET & PBT resins market forecast & opportunities 2020’ study, PET & PBT resins have seen strong growth in demand over the past five years with increase in usage in packaging and bottling, automobiles and electrical and electronics industries.
Demand growth for PET resin is driven by replacement of glass, aluminium, paper, metal in packaging while factors like thermal stability, high heat resistance, and superior electrical properties are the reasons for increased demand for PBT resin. The study also expects the government’s ‘Make in India’ push to spur further demand growth.
PET is used for packaging of bottled drinking water, carbonated soft drinks, edible oils, juices, and alcoholic beverages, while polybutylene terephthalate is used by the electrical and electronics industry. The PET resin market is dominated by three major players, Reliance Industries Limited (RIL), Dhunseri Petrochem Limited and JBF Industries Limited. Reliance Industries is the largest player in the country’s PET resin market and is expected to maintain its leadership position through 2020. Some of the major global players in the PBT market in India include include Toray, BASF, SABIC, SRF, DuPont and Laxness.
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