Polyethylene Naphthalate Market Size, Share, Analysis, Growth Report, 2032

Polyethylene Naphthalate Industry Prospective:

The global polyethylene naphthalate market size was worth around USD 1.25 Billion in 2023 and is predicted to grow to around USD 2.47 Billion by 2032 with a compound annual growth rate (CAGR) of roughly 7.90% between 2024 and 2032. The report analyzes the global aquatic herbicides market drivers, restraints/challenges, and the effect they have on the demands during the projection period. In addition, the report explores emerging opportunities in the aquatic herbicides industry. 

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The report covers a forecast and an analysis of the polyethylene naphthalate market on a global and regional level. The study provides historical data from 2018 to 2022 along with a forecast from 2024 to 2032 based on volume (Kilotons) and revenue (USD Million). The study includes the drivers and restraints for the polyethylene naphthalate market along with their impact on the demand over the forecast period. Additionally, the report includes the study of opportunities available in the polyethylene naphthalate market on a global level. To understand the competitive landscape in the market, an analysis of Porter’s Five Forces model for the polyethylene naphthalate market has also been included. The study encompasses a market attractiveness analysis, wherein all the segments are benchmarked based on their market size, growth rate, and general attractiveness.

Polyethylene Naphthalate Market:  Overview

There is a significant growth expected in the global polyethylene naphthalate market in the forecast time period. Polyethylene naphthalate (PEN) is a type of polyester that is produced from naphthalene and ethylene glycol. PEN boasts outstanding properties such as remarkable dimensional stability, resistance to shrinkage, reduced oxidation rate, and excellent thermal resistance. The properties of PEN make it extremely valuable in a wide range of industries, including food packaging, electronics, and automobile applications.

Polyethylene Naphthalate Market: Growth Factors

The increasing global consumption of alcohol and packaged food is expected to fuel the demand for polyethylene naphthalate. Using PEN can effectively reduce oxidation and extend the shelf life of food and beverages. The electronic industry is experiencing significant growth and is expected to continue expanding in the foreseeable future. PEN is a versatile material that finds wide application in the production of thermal sheets, pressure sensitive tapes, and more. Pellets and films are derived from PEN, making it an essential component in various industries.

The widespread usage of these products in semiconductors, batteries, capacitors, and other electronic devices is anticipated to drive the growth of the global polyethylene naphthalate market. PEN is commonly utilized in the production of high-performance tires on a large scale. Adding PEN compounds to a conventional rubber mix enhances the rigidity of tires. As a result, tires experience enhanced performance and extended lifespan. This is projected to bolster the future growth of the global polyethylene naphthalate market. Unfortunately, the scarcity of 2,6-dicarboxylic acid in recent years, caused by its intricate production process, has resulted in higher costs for raw materials and production. This could potentially hinder the growth of this market in the coming years. In addition, the anticipated introduction of more affordable monomers is projected to enhance the expansion of the worldwide polyethylene naphthalate market throughout the predicted period.

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Polyethylene Naphthalate Market: Segmentation

The global polyethylene naphthalate market is classified according to its various applications, including beverage bottling, packaging, electronics, and automotive tires. The increasing demand for packaged beverages and food items is being driven by changing lifestyles and higher disposable income, resulting in a significant boost to this market. In addition, PEN resins are well-suited for beverage bottling and packaging due to their excellent resistance to oxidation, UV rays, moisture, and dimensional stability. Producers and consumers are increasingly recognizing the importance of reusable bottles and other high-quality products, which is fueling the growth of this market.

Polyethylene Naphthalate Market: Report Scope

Polyethylene Naphthalate Market: Regional Analysis

The future of the global polyethylene naphthalate market looks promising in North America, thanks to the strong presence of manufacturers and customers in the U.S. Additionally, the increasing consumption of packaged food and beverage products contributes to the region's substantial growth potential. In the North American beverage industry, there are numerous reputable brewing and juice companies. Professionals have long advocated for the use of plastic bottles to store beer instead of glass, and PET bottles have been widely used for fruit juices for many years.

Polyethylene Naphthalate Market: Competitive Analysis

The key players operating in the global polyethylene naphthalate market are 

• DuPont
• Seiwa Inc.
• Teijin DuPont Films
• Sumitomo Chemical
• Toray Monofilament
• DuraFiber Technologies
• SKC
• SASA Polyester Sanayi
• Kolon Plastics
• Polyonics
• And Others

This report segments the global polyethylene naphthalate market into:

Global Polyethylene Naphthalate Market: Application Analysis

• Beverage Bottling
• Packaging
• Electronics
• Automotive Tires

Global Polyethylene Naphthalate Market: Regional Analysis

• North America
  • The U.S.
• Europe
  • UK
  • France
  • Germany
• Asia Pacific
  • China
  • Japan
  • India
• Latin America
  • Brazil
• Middle East and Africa