India PET Resins Market to Grow with a CAGR of 6.20% through 2030
Surge in research and development activities is expected to drive the India PET Resins Market growth in the forecast period, 2026-2030.
According to TechSci Research report, “India PET Resins
Market- By Region, Competition, Forecast and Opportunities, 2030F”, the India PET Resins Market stood at 1.23 million tonnes in 2024 and
is anticipated to grow with a CAGR of 6.20% in the forecast period through 2030. Initiatives
taken by government based on PET Resins has led to favorable market conditions
for the India PET Resins Market. Several factors contribute to the growth of
various PET Resins products.
The Department of Science and Technology (DST) is at the forefront of driving innovation in plastic recycling, with a particular focus on Polyethylene Terephthalate (PET). This initiative is a cornerstone of India's broader strategy to address environmental challenges posed by plastic waste.
Aligned with global sustainability objectives, the Indian government is actively promoting the integration of recycled PET (rPET) into the beverage industry. This shift towards a circular economy is essential for resource optimization and waste reduction.
To tackle the mounting plastic waste crisis, the government has implemented a comprehensive framework encompassing waste segregation, collection, and recycling. With PET representing a substantial portion of plastic waste, targeted interventions are being undertaken to enhance waste management practices and foster a more sustainable future.
Robust R&D investments are driving innovation and growth within India's PET resins market. Key industry players are introducing advanced PET resin products to meet evolving market demands, particularly in packaging. Concurrent research in PET recycling is fostering a circular economy by transforming waste into high-quality rPET for diverse applications. This dual focus on product development and sustainability positions the Indian PET resins market as a leader in innovation and responsible manufacturing.
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PET Resins Market”
The India PET Resins Market is segmented into type, application,
regional distribution, and company.
Based on Application, Automotive have emerged as the dominating segment in India PET Resins Market in 2024. The automotive industry is under increasing pressure to produce fuel-efficient vehicles. PET resins, being lightweight and durable, offer a viable alternative to traditional materials, contributing to overall vehicle weight reduction. Lighter vehicles exhibit better fuel economy, acceleration, and handling, making PET an attractive option for automotive manufacturers. PET resins offer a high-quality finish and can be molded into complex shapes, making them suitable for interior components like dashboards, door panels, and consoles. Compared to traditional materials, PET resins often provide a more cost-effective solution for interior components. PET resins are being explored for use in battery enclosures due to their insulating properties and ability to withstand varying temperatures. The demand for lightweight materials in EVs is further driving the adoption of PET resins. The Indian government's Production Linked Incentive (PLI) scheme for the automotive industry is encouraging domestic manufacturing, including components made from PET resins.
Based on region, North India have emerged as the fastest growing region in the India PET Resins Market in 2024. The region has witnessed a surge in the food and beverage industry, with a growing preference for packaged products. PET's lightweight, transparent, and barrier properties make it the ideal packaging material. The burgeoning e-commerce sector in North India demands robust packaging solutions, and PET's protective qualities align perfectly with these requirements. Increasing disposable incomes and urbanization have led to a shift towards packaged and convenient products, driving up PET resin demand. Consumers in North India are increasingly opting for premium products, often packaged in PET containers. Government initiatives to improve infrastructure in North India are creating opportunities for the packaging industry, thereby boosting PET resin demand. The government's emphasis on 'Make in India' has attracted investments in the packaging sector, including PET resin production facilities.
Major companies operating in India PET Resins Market
are:
- Reliance Industries Limited
- JBF Industries Limited
- Indorama Ventures Public Company Limited
- BASF SE
- Toray Industries (India) Private Limited
- Eastman Chemical India Pvt. Ltd.
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“By incorporating nanoparticles into PET resin, manufacturers can create packaging materials with improved barrier properties against gases, moisture, and odors. This can significantly extend product shelf life and maintain quality. Nanotechnology can be used to enhance the mechanical properties of PET resins, such as strength, toughness, and flexibility. This can lead to the development of more durable and lightweight packaging solutions. Incorporating antimicrobial nanoparticles into PET resins can further create packaging materials with inherent antimicrobial properties, preventing contamination and extending product shelf life”, said Mr. Karan Chechi, Research Director of TechSci
Research, a research-based management consulting firm.
“India PET Resins Market By Type (Bottled Beverages, Films & Sheets, CSD, Food, Others), By Application (Transportation, Automotive, Electrical & Electronics, Household Appliances, Packaging, Textile), By Region, Competition, Forecast & Opportunities, 2020-2030F”, has evaluated the future growth potential of India
PET Resins Market and provides statistics & information on market size,
structure and future market growth. The report intends to provide cutting-edge
market intelligence and help decision makers take sound investment decisions.
Besides, the report also identifies and analyzes the emerging trends along with
essential drivers, challenges, and opportunities in India PET Resins Market.
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