US PET RESIN DEMAND TO INCREASE OVER 6& ANNUALLY TO THE YEAR 2003.
US PET RESIN DEMAND TO INCREASE
OVER 6% ANNUALLY TO THE YEAR 2003
Polyethylene terephthalate (PET) resin demand in the US is forecast to increase 6.2 percent annually to 6.6 billion pounds in 2003, valued at $4.1 billion. Advances will be driven by opportunities in the packaging segment for single-serve carbonated soft drink and bottled water bottles. Milk and beer bottles are new, potentially large PET applications. PET advantages in packaging uses include light weight, clarity and design flexibility. Further PET growth will be threatened by saturated photographic film and magnetic tape applications, as alternative technologies continue to undermine market share. These and other trends are presented in Polyethylene Terephthalate Resins, a new study from The Freedonia Group, Inc., a Cleveland-based industrial market research firm.
Demand for PET resins in packaging applications will increase nearly seven percent per annum to 5.6 billion pounds in 2003, accounting for 86 percent of all PET resin demand. Increasing beverage bottle demand will be the primary growth stimulant, expanding more than seven percent yearly to nearly 4 billion pounds. Particularly good growth is anticipated for larger single-serve carbonated soft drink bottles. Vendors prefer larger-size containers because they can be custom designed to build brand identity, they encourage greater beverage consumption and they typically carry higher profit margins. Good opportunities are also expected for bottled water, iced tea and other noncarbonated beverage bottles. Food packaging markets will be driven by growing demand for PET food bottles, film and dual-operable and other trays. Overall PET demand will be stimulated by improvements in heat resistance, coextrusion technologies, barrier properties, blending, compounding and design techniques, all of which will expand applications.
Polyethylene terephthalate resin demand in audio-visual media uses will grow less than two percent per annum with photographic film applications remaining dominant. Slightly faster growth is expected for magnetic tape. Further growth is unlikely due to the onslaught of new technologies such as digital photography, compact discs and digital versatile discs (DVDs). Advances in other PET markets, such as injection molded motor vehicle components and electrical/electronic components, will reflect greater needs for enhanced design capabilities and moldability, as well as elevated temperature and chemical resistance.
Polyethylene Terephthalate Resins (published 11/99, 224 pages) is available for $3500 from The Freedonia Group, Inc., 767 Beta Drive, Cleveland, OH 44143-2326. For further details, please contact Corinne Gangloff by phone 440.684.9600, fax 646.0484 or e-mail email@example.com. Full text is also available online through commercial database companies and the www.freedoniagroup.com Web site.
Please attribute information from this news release to The Freedonia Group (Cleveland, OH) and include, if possible, the price of the report. We would also appreciate a copy of the article or publication in which we appear.
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|Comment:||US PET RESIN DEMAND TO INCREASE OVER 6& ANNUALLY TO THE YEAR 2003.|
|Publication:||Research Studies - Freedonia Group|
|Date:||Nov 1, 1999|
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