Press Release

China PET and PBT Resins Market to Grow with a CAGR of 4.28% through 2029

Growth in research and development activities is expected to drive the China PET and PBT Resins Market growth in the forecast period, 2025-2029

According to TechSci Research report, “China PET and PBT Resins Market – By Region, Competition, Forecast and Opportunities, 2019-2029F”, the China PET and PBT Resins Market stood at USD 11.95 billion in 2023 and is anticipated to grow with a CAGR of 4.28% in the forecast period, 2025-2029F. Government initiatives have created favorable market conditions for the China PET and PBT Resins Market. Various factors contribute to the growth of these resin products.

The Chinese government actively promotes and supports innovation in the PET (Polyethylene Terephthalate) and PBT (Polybutylene Terephthalate) resins industry. An example is the patent granted for an antimony-free reinforced flame-retardant PBT material, showcasing advancements in its preparation method while being environmentally friendly.

China's Zero-COVID policy significantly impacts domestic PET resin demand. The government's efforts in managing the pandemic demonstrate its commitment to maintaining stability and safeguarding key industrial sectors, including the PET and PBT resins market. These measures reflect China's comprehensive approach to ensuring a resilient and thriving industry amidst challenging circumstances.

 

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Innovation in material sciences has transformed the potential applications of PET (polyethylene terephthalate) and PBT (polybutylene terephthalate) resins, resulting in increased demand for these versatile products. Extensive research and development efforts have led to the creation of PET/PBT blends, offering a unique combination of the advantageous properties of both materials. These blends are increasingly used across various industries, including automotive and electronics, where they significantly contribute to market growth and enable new possibilities for product design and performance enhancements. Continued exploration and advancement in this field are expected to expand market opportunities further and drive innovation in the material sciences sector.

The China PET and PBT Resins Market is segmented in PET resins application, PBT resins application, regional distribution, and company.

Based on its PET resins application, the food packaging segment held the largest share in the market. Another significant factor contributing to the dominance of PET and PBT resins in the packaging industry is the increasing focus on sustainability. These resins offer not only excellent performance but also align with the global push towards reducing carbon footprints and promoting circular economies. By being recyclable, they enable the creation of eco-friendly packaging solutions that cater to the growing demand for sustainable practices. This combination of performance and environmental responsibility makes PET and PBT resins highly attractive for various food packaging applications.

Based on region, South Central segment is expected to grow during the forecast period. Situated in South Central China, known for its strategic location, the region enjoys convenient access to a wide range of domestic and international markets. This advantageous position plays a pivotal role in facilitating the export of PET and PBT resins, further strengthening the region's dominant position in the market. With its favorable geography and thriving trade, South Central China continues to solidify its reputation as a key player in the industry.

 

Major companies operating in China PET and PBT Resins Market are:

  • Shinkong Synthetic Fibers Corporation
  • Zhejiang Wankai New Materials Co., Ltd.
  • China National Blue Star (Group) Co., Ltd.
  • BASF (China) Co. Ltd.
  • Sinopec Yizheng Chemical Fibre Co., Ltd.

 

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“Growing application of PET and PBT resins in various end user industries are key drivers of the PET and PBT resins market. Growth in competitive landscape and presence of well-established companies in the market who are dedicated to enhance their productivity of PET and PBT Resins with every passing year are anticipated to register an impressive growth to China PET and PBT resins Market in the forecast period.,” said Mr. Karan Chechi, Research Director, TechSci Research, a research-based management consulting firm.

China PET and PBT Resins Market Segmented By PET Resins Application (Bottles, Films, Food Packaging, Others), By PBT Resins Application (Automotive, Consumer Appliance, Electronic & Electricals, Others), By Region, Competition, Forecast and Opportunities, 2019-2029F”, has evaluated the future growth potential of China PET and PBT 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 China PET and PBT Resins Market.

 

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Relevant Reports

China PET and PBT Resins Market Segmented By PET Resins Application (Bottles, Films, Food Packaging, Others), By PBT Resins Application (Automotive, Consumer Appliance, Electronic & Electricals, Others), By Region, Competition, Forecast and Opportunities, 2019-2029F

Chemicals | May, 2024

Growing demand of PET and PBT resins in automotive and food & beverage industries are factors driving the China PET and PBT Resins Market in the forecast period 2025-2029.

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