India PET Resins Market to Cross $ 5.9 Billion by 2025
Continuing
growth in end use industries, booming beverage sector and emergence
of new application areas to drive
India PET resins market through 2025
According to a recently released TechSci Research report, “India PET Resins Market Study, 2011 – 2025”, the market of PET resins in
India is anticipated to cross US$ 9.1 Billion by 2025. Globally, India is one of the fastest
growing markets for PET resins. Robust growth in packaging sector, rapid
industrialization and growing urbanization are the major factors fuelling the
country’s PET resins market. Moreover, emerging economy, new capacity additions
and increasing consumption of packaged food & beverages are further
expected to aid the Indian market of PET resins during 2016-2025.
In 2015, India food services
industry stood at USD13.79 billion, and the market is expected to grow at a
CAGR of 17% during 2015-2020. Moreover, India beverage services market stood at
USD2.56 billion in 2015, and it is projected to reach USD4.48 billion by 2020,
exhibiting a CAGR of 20.55%, in value terms, during 2016-2025. Increasing demand
for safe, hygienic and high quality packaging products, particularly in food services
sector, is expected to augment the demand for PET resins in the country over
the span of next nine years.
“PET resins are tailored for
utilization in several packaging applications including plastic bottles for
beverages, food containers, storage containers for household items &
reactive chemical substances, cosmetics, pharmaceutical and industrial
applications. In addition to this, specialized PET containers produced after
various treatments and processing steps are microwaveable and used as take-out
containers, single-serving food trays, etc.” said Mr. Karan Chechi, Research
Director, with TechSci Research, a research based global management consulting
firm.
“India
PET Resins Market Study, 2011 – 2025” has evaluated the future
growth potential of India PET resins market and provides statistics and
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 evaluation. Besides, the report also identifies and analyses the
emerging trends along with essential drivers, challenges and opportunities in India
PET
resins market.
About TechSci Research
TechSci Research
is a leading global market research firm publishing premium
market research reports. Serving 700 global clients with more than 600 premium market
research studies, TechSci Research is serving clients across 11 different
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employing innovative research solutions and tracking global and country
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