DUBLIN, July 13, 2022 /PRNewswire/ — The “Global Polyethylene Terephthalate Additives Market Size, Share & Trends Analysis Report by Function (Color Addition, UV Light Barrier), by Region (Asia Pacific, North America) and segment forecasts, 2022-2030” was added to the report ResearchAndMarkets.com Offer.
The global polyethylene terephthalate Additives market size is expected to be reached $2.13 billion by 2030., grows by a CAGR of 5.8% over the forecast period.
The market is expected to grow due to the increasing range of applications in the packaging, medical and automotive industries. Polyethylene terephthalate (PET) additives offer improved chemical resistance and shatterproof properties and are therefore widely used in the packaging industry. Demand for colored plastics is increasing rapidly, led by growth in the packaging industry. The global packaging industry is showing significant growth, driven by the consolidated development of sub-segments such as food, industrial, retail, consumer and medical packaging.
The changing lifestyle of consumers has led to a high demand for ready-to-eat (RTE) foods. Governments around the world are promoting the use of recycled plastic material in single-use plastic products as a step towards a circular economy. The European Union has already implemented Regulation (EC) No. 282/2008, which is explicitly designed for PET recycling processes. However, due to some shortcomings in the existing regulation, the EU is drafting a new rule that may boost demand for PET bottle recycling, creating a growth opportunity for chain extender additives for PET. The recycled PET often experiences a yellowish-brown effect due to the increased loading of recycled content.
The yellowing effect discourages consumers from buying the recycled PET bottles. The optical brightener additive reduces yellow cast and helps HBA, food, spice and beverage packaging companies correct packaging color to provide a clear appearance. Ultraviolet (UV) photoelectric sensors held the largest market share in the functional segment in 2021. Light transmitted through a packaged material can catalyze an oxidation reaction in a photosensitive product and shorten its shelf life. In addition, light promotes the decomposition of nutrients in food through the formation of various chemicals, causing discoloration, off-taste and others.
UV blocking is used to prevent food quality deterioration and preserve its shelf life. This is likely to boost demand for UV light barriers over the forecast period. The presence of several global companies including LyondellBasell Industries Holdings BV, Avient Corp. and Sukano AG, which will trigger competition. Pricing is key to achieving sustainability for market participants, which has led to extensive R&D activities to develop cost-effective PET additives with broader regulatory acceptance. 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 barriers dominated the functional segment in 2021. UV blocking is used to prevent food quality deterioration and preserve its shelf life.
Packaging is the main sector driving the market growth. Colored PET additives help add the required color to the packaging bottles of consumer products such as shampoo and automotive lubricants, ranging from cosmetics to home care products.
Recycled PET prices are positioned higher compared to virgin PET resins. This may prompt the PET resin end-users to source crude oil-based PET resins, which adversely affects the demand for recycled PET and the chain extender additive used in PET recycling, and acts as a restraining factor to market growth.
in the July 2021brought Avient Corp. ColorMatrix Lactra Four, One and Zero Additives on the market. These additives include a TiO2 content between 0 and 4% and a total inorganic content of less than 4% with better processability, superior brightness and up to 99.9% light blocking for PET in milk packaging.
Asia Pacific accounted for the largest share of sales in 2021 due to the high product demand from the growing automotive and packaging industry.
in the Sept 2020introduced Avient Corp. presented its oxygen-binding additive MEVOPUR ProTect at Medtec China 2020.
As the pharmaceutical and dietary supplement industry has experienced an upward trend since the COVID-19 pandemic, the demand for new oxygen scavenging additives is expected to increase during the forecast period.
Main topics covered:
Chapter 1. Methodology and Scope
Chapter 2. Summary
2.1 Market Summary
2.2 Segment Outlook
Chapter 3. Polyethylene Terephthalate (PET) Additives Market Variables, Trends and Scope
3.1 Market Origin Outlook
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 Restriction Analysis
3.5.3 Market Opportunity Analysis
3.5.4 Porter’s Five Forces Analysis
3.5.5 Pestel Analysis
Chapter 4. Polyethylene Terephthalate (PET) Additives Market: Feature Estimates and Trend Analysis
4.1 Functional Analysis and Market Share
4.2 Color Supplement
4.2.1 Polyethylene Terephthalate (PET) Additives Market Estimates and Forecasts, by Color Additive, 2019-2030 (Milotons) (Million USD)
4.3 UV light barrier
4.3.1 Polyethylene Terephthalate (PET) Additives Market Estimates and Forecasts, 2019-2030 (Milotons) (Million USD)
4.4 Oxygen Purge
4.4.1 Polyethylene Terephthalate (PET) Additives Market Estimates and Forecasts by Oxygen Scavenging, 2019-2030 (Milotons) (Million USD)
4.5 scavenging acetaldehyde
4.5.1 Polyethylene Terephthalate (PET) Additives Market Estimates and Forecasts by Acetaldehyde Scavenger, 2019-2030 (Milotons) (Million USD)
4.6 Blocking Protection
4.6.1 Polyethylene Terephthalate (PET) Additives Market Estimates and Forecasts, by Antiblock, 2019-2030 (Milotons) (Million USD)
4.7 Flame Resistance
4.7.1 Polyethylene Terephthalate (PET) Additives Market Estimates and Forecasts by Flame Retardancy, 2019-2030 (Milotons) (Million USD)
4.8 Chain Extension
4.8.1 Polyethylene Terephthalate (PET) Additives Market Estimates and Forecasts, By Chain Extender, 2019-2030 (Milotons) (Million USD)
4.9 Odor Catcher
4.9.1 Polyethylene Terephthalate (PET) Additives Market Estimates and Forecasts, by Odor Scavenger, 2019-2030 (Milotons) (Million USD)
4.10.1 Polyethylene Terephthalate (PET) Additives Market Estimates and Forecasts, By Antistatic, 2019-2030 (Milotons) (Million USD)
4.11 Warm up
4.11.1 Polyethylene Terephthalate (PET) Additives Market Estimates and Forecasts, by Reheat, 2019-2030 (Milotons) (Million USD)
4.12.1 Polyethylene Terephthalate (PET) Additives Market Estimates and Forecasts, by Others, 2019-2030 (Milotons) (Million USD)
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 Key Company/Competitor Categorization
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 Dashboard Analysis
Chapter 7. Company Profiles
7.1 Lyondellbasell Industries Holdings BV
7.1.1 Corporate Overview
7.1.2 Financial Performance
7.1.3 Functional Benchmarking
7.2 SPEAREPET PVT LTD
7.2.1 Corporate Overview
7.2.2 Functional benchmarking
7.3 Gabriel Chemistry
7.3.1 Corporate Overview
7.3.2 Functional benchmarking
7.4 NYACOL Nano Technologies Inc.
7.4.1 Company Overview
7.4.2 Functional benchmarking
7.5 Capital Letters
7.5.1 Company Overview
7.5.2 Functional benchmarking
7.6 Sukano AG
7.6.1 Company Overview
7.6.2 Functional benchmarking
7.7 Avient Corporation
7.7.1 Company Overview
7.7.2 Functional benchmarking
7.8 Yildiz Kolor
7.8.1 Company Overview
7.8.2 Functional benchmarking
7.9 Holland Colors
7.9.1 Company Overview
7.9.2 Financial Performance
7.9.3 Functional benchmarking
7.10 PLASTIKA KRITIS SA
7.10.1 Company Overview
7.10.2 Financial Performance
7.10.3 Functional benchmarking
7.11 Milliken & Company
7.11.1 Company Overview
7.11.2 Functional benchmarking
For more information about this report, visit https://www.researchandmarkets.com/r/lf489k
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