Market Overview
Polyethylene naphthalate finds its applications in beverage bottling, food packaging, electronics, rubber tires, and others. The beverage bottling and the food packaging applications are dominating the global polyethylene naphthalate market owing to the higher dimensional stability, enhanced barrier properties, and high temperature and chemical resistance. The product is excessively consumed in the packaging of beverages, which are vulnerable to oxidation, such as carbonated drinks, beer, and wine. It is also used in packaging of dairy products such as milk yogurt, condensed milk, buttermilk, and others. The use of the polyethylene naphthalate in food packaging and beverage bottling also increases the shelf life of the product. Thus, on account of the aforementioned factors food & beverage packaging is expected to account for the largest market share for polyethylene naphthalate in the global market. Furthermore, the growing use of polyethylene naphthalate in electronics & electrical industry to manufacture capacitors, cables, wires, optical devices, and others is anticipated to propel the market growth over the assessment period. The increasing demand for the product in the manufacturing of rubber tires is likely to propel the market growth in the automotive sector. The shifting trends towards the use of renewable energy sources is another underlying factor augmenting the product demand as it is used in solar cell protection.
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Market Segmentation
The global polyethylene naphthalate market is segmented by manufacturing process and application.
On the basis of the manufacturing process, the polyethylene naphthalate market is segmented into acid and ester.
The global polyethylene naphthalate market is segmented based on the applications as beverage bottling, food packaging, electronics, rubber tires, and others.
Regional Analysis
The global polyethylene naphthalate market is segmented into five regions: North America, Asia Pacific, Europe, Latin America, and the Middle East & Africa.
North America is the dominating region in the global polyethylene naphthalate market due to the high production and consumption of the product from major end-use industries such as food packaging, automotive, and electronics in the region.
Asia Pacific is expected to be the fastest emerging region owing to the easy availability of raw materials, shifting the focus of manufacturers to the region, and the high demand from end-use industries such as packaging, automotive, and electronics.
The high production and sales of automotive parts in Europe are anticipated to drive the polyethylene naphthalate demand in the region.
Competitive Analysis
Some of the manufacturers operating in the global polyethylene naphthalate market are DuPont Teijin Films (U.S.), Sumitomo Chemical Co., Ltd (Japan), DuraFiber Technologies Inc. (U.S.), TORAY MONOFILAMENT CO., LTD (Japan), Thermo Fisher Scientific (U.S.), Merck KGaA (Germany), SKC Inc. (South Korea), SASA Polyester Sanayi A.S. (Turkey), Seiwa Inc. (Japan), Polyonics, Inc. (U.S.), Shell Global (U.S.), 3M (U.S), KOLON PLASTIC INC. (South Korea), DowDupont (U.S.), and GTS Flexible Ltd. (U.K)
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