 "PET and PBT resins market to reach $1.9 bn in India")
Growing demand for consumer goods and government’s various initiatives such as Make in India, etc to encourage domestics manufacturing are expected to give a boost to polyethylene terephthalate (PET) and polybutylene terephthalate (PBT) market, according to Research and Markets’ new report. As per the report, titled ‘India PET & PBT resins market forecast & opportunities 2020’, the PET & PBT resins market in India is expected to surpass $ 1.9 billion in 2015.
PET & PBT resins demand has been witnessing robust growth over last five years on account of increasing usage in various end user industries such as packaging & bottling, automobile and electrical and electronics. Increased demand for PET resin is driven by replacement of traditional packaging materials like glass, aluminium, paper, metal and growth in FMCG sector while the factors like thermal stability, high heat resistance, superior electrical properties are the reasons for increased demand for PBT resin. “With the increasing government focus on domestic manufacturing with ‘Make in India’ tag the demand for PET and PBT resins is further expected to increase in India,” added Research and Markets report.
Polyethylene terephthalate is predominantly used for packaging of bottled drinking water, carbonated soft drinks, edible oils, juices, alcoholic beverages, etc, while polybutylene terephthalate is majorly used in electrical and electronics industry. India PET resin market is highly consolidated and 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. Few of the major PBT players operating in India include Toray, BASF, SABIC, SRF, DuPont and Laxness.
Polyethylene terephthalate is a plastic polymer produced by reacting two raw materials, purified terephthalic acid (PTA) & monoethylene glycol (MEG), while polybutylene terephthalate is manufactured from PTA and 1, 4-butanediol (BDO).
PET & PBT resins demand has been witnessing robust growth over last five years on account of increasing usage in various end user industries such as packaging & bottling, automobile and electrical and electronics. Increased demand for PET resin is driven by replacement of traditional packaging materials like glass, aluminium, paper, metal and growth in FMCG sector while the factors like thermal stability, high heat resistance, superior electrical properties are the reasons for increased demand for PBT resin. “With the increasing government focus on domestic manufacturing with ‘Make in India’ tag the demand for PET and PBT resins is further expected to increase in India,” added Research and Markets report.
Polyethylene terephthalate is predominantly used for packaging of bottled drinking water, carbonated soft drinks, edible oils, juices, alcoholic beverages, etc, while polybutylene terephthalate is majorly used in electrical and electronics industry. India PET resin market is highly consolidated and 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. Few of the major PBT players operating in India include Toray, BASF, SABIC, SRF, DuPont and Laxness.
Polyethylene terephthalate is a plastic polymer produced by reacting two raw materials, purified terephthalic acid (PTA) & monoethylene glycol (MEG), while polybutylene terephthalate is manufactured from PTA and 1, 4-butanediol (BDO).