PET Film Market Size, Share, Industry, Forecast and outlook (2023-2030)

PET Film Market is segmented By Type (Conventional PET Film, Shrink PET Film, Isotropic PET Film, Others), By Thickness (Very Thin Film (Less than 20 Microns), Thin Film (20 to 50 Microns), Thick Film (More than 50 Microns), By Application (Flexible packaging and food contact applications, Solar, marine, and aviation applications, Covering over paper, Insulating material, Electronic and acoustic applications), and By Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) – Share, Size, Outlook, and Opportunity Analysis, 2023-2030

PET Film Market Overview

The global PET film market research report analyses the size, shares, recent trends, competitive intelligence, and future market outlook. PET film usage in flexible packaging and food contact applications is on the rise. Demand for electronic devices in Asia-Pacific is growing. The competitive rivalry intensifies with Tredegar, KOLON Industries, and others active in the market.

Polyester or polyethylene terephthalate (PET) is a high-performance, crystal-clear thermoplastic made from ethylene glycol and dimethyl terephthalate (DMT). Compared with other common plastic films, PET film has higher tensile strength, excellent dimensional stability, low moisture absorption, and good retention of physical properties over a fairly wide temperature range. It also has superior UV resistance, excellent electrical properties, good optical clarity, high gloss, and good gas barrier but only moderate moisture barrier properties. It is the ideal film for quality printing and lamination and a good choice for high-performance plastic films and sheets. It has a relatively high melting point, making it suitable for applications that require sterilization at high temperatures.

PET Film Market Scope

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PET Film Market Dynamics

The rising demand for flexible packaging primarily drives the global PET Film Market. The driving force for flexible packaging is the increase in demand for convenient packaging needed in the food & beverages and pharmaceutical industries. And the other factor for the growth of the PET film market is the rising demand for the electronics devices market such as mobile, LCDs, and others. The panels display in these electronic devices use Pet films which indeed drives the market for PET films.

However, due to volatility in crude oil prices, PET resin's raw material hinders the PET film market.

PET Film Market Segmentation Analysis

By application type, the global PET Film Market is segmented into Flexible packaging and food contact applications, Solar, marine, and aviation applications, covering paper, Insulating material, Electronic and acoustic applications, and Others. Flexible packaging and food contact applications have high dominance in this segment due to PET film's properties having a low odor, high chemical resistance, and inertness, making it suitable for packaging applications under FDA regulations. Followed by First Grade and Qualified Grade.

PET Film Market Geographical Share

By geography, the global PET Film Market is segmented into North America, Asia-Pacific (APAC), Europe, South America, and the Middle East and Africa (MEA).

APAC holds the largest market share for PET Film due to rapid industrialization and infrastructural development activities and the high production and sales of electrical & electronics products in the region. Developing nation like China and India has high demands for the PET Film market. Using the panel displays in electronic devices like mobile, LCD, and others have made APAC hold most of the market share. However, North America is after APAC in terms of market share of the PET Film Market, followed by Europe.

PET Film Market Companies and Competitive Landscape

Key players adopt strategies such as Acquisition, mergers, joint ventures, and investment in R&D to stand out as strong competitors in the market. The PET Film market is highly fragmented. The major players include Dupont Teijin Films, Jindal Poly Films, Mitsubishi Chemical Holdings, SKC, and Toray. Other key players in the market include Tredegar, KOLON Industries, Ningbo Sun plastics, Coveme, and Jiangsu Shuangxing.

In June 2018, Indorama Ventures Ltd. entered a joint venture agreement with India's Dhunseri Petrochem Ltd. (Dhunseri) to acquire its 450ktpa PET production facility in Egypt. The facility, which belongs to the Egyptian Indian Polyester Company SAE (EIPET), is located in the Ain Sokhna free trade zone, northwest of Suez.

In December 2017, Mitsubishi Polyester Film constantly developed new film types to meet its customers' market needs and requirements. One of our new developments is Hostaphan® TC, a heat-conductive PET film. Electric currents create heat as waste energy. Getting the heat out is a big issue in many electrical devices like electromotors, engines, generators, and transformers. Polymeric films offer the electric insulation performance needed in such devices but are generally very bad heat conductors. Hostaphan® TC is a thermally conductive film with twice the heat conductivity λ of standard PET film while maintaining good insulation properties.