From food packaging on your kitchen shelf to the high-tech display on your smartphone, PET film is the unseen powerhouse behind countless everyday items, driving a global market poised to leap from $32.5 billion to a staggering $45.8 billion by 2030 as this versatile material continues to revolutionize industries.
Key Takeaways
- The global PET film market size was valued at USD 32.5 billion in 2022 and is projected to reach USD 45.8 billion by 2030, growing at a CAGR of 5.6% from 2023 to 2030.
- In 2023, the Asia-Pacific region accounted for 52% of the global PET film market share due to high demand in packaging and electronics.
- The packaging segment dominated the PET film market with a 38% revenue share in 2022, driven by food and beverage applications.
- China's PET film production capacity stood at 8.5 million tons per year in 2023.
- Jindal India reported a PET film production capacity of 250,000 TPA in FY2023.
- Global PET film manufacturing capacity increased by 2.1 million tons from 2020 to 2023.
- PET film used in flexible packaging accounted for 42% of total applications in 2023.
- In electronics, PET film for displays consumed 3.2 million tons globally in 2022.
- Food packaging PET film demand reached 6.8 million tons in 2023 worldwide.
- Asia-Pacific held 55% of global PET film production in 2023.
- US PET film imports totaled 1.1 million tons in 2023, up 4% from 2022.
- Germany's PET film market share in Europe was 22% in 2023, valued at EUR 1.8 billion.
- Top 10 PET film producers controlled 65% of global capacity in 2023.
- Jindal Poly Films reported revenue of INR 45 billion from PET film in FY2023.
- Toray Plastics America's PET film sales grew 7% to USD 1.2 billion in 2023.
The global PET film market is growing steadily, driven especially by packaging demand in Asia.
Applications and Usage
- PET film used in flexible packaging accounted for 42% of total applications in 2023.
- In electronics, PET film for displays consumed 3.2 million tons globally in 2022.
- Food packaging PET film demand reached 6.8 million tons in 2023 worldwide.
- Solar backsheet PET film usage grew 12% YoY to 450,000 tons in 2023.
- Medical packaging segment for PET film was valued at USD 2.1 billion in 2023.
- PET film in labels and tapes represented 18% of market volume in 2022.
- Automotive industry consumed 280,000 tons of PET film for protective films in 2023.
- Insulating PET film for electrical applications hit 1.5 million tons in 2023.
- PET film for graphic arts and printing used 900,000 tons globally in 2022.
- Construction sector PET film demand for window films was 650,000 tons in 2023.
- PET film used in flexible packaging accounted for 42% of total applications in 2023.
- In electronics, PET film for displays consumed 3.2 million tons globally in 2022.
Applications and Usage Interpretation
In a world increasingly obsessed with pristine phones, single-serve snacks, and capturing the sun, it seems our modern lifestyle is quite literally wrapped, insulated, and displayed on a versatile sheet of PET film.
Key Players and Financials
- Top 10 PET film producers controlled 65% of global capacity in 2023.
- Jindal Poly Films reported revenue of INR 45 billion from PET film in FY2023.
- Toray Plastics America's PET film sales grew 7% to USD 1.2 billion in 2023.
- Polyplex Corporation's EBITDA from PET film was USD 150 million in 2023.
- Mitsubishi Polyester Film's global revenue reached EUR 850 million in 2022.
- Cosmo Films invested USD 50 million in new PET film lines in 2023.
- Uflex Ltd's PET film division contributed 40% to total revenue of INR 112 billion in FY2023.
- Kolon Industries' PET film profit margin was 12.5% in 2023.
- FlexFilms' capacity expansion cost USD 200 million announced in 2023.
Key Players and Financials Interpretation
While the top dogs in the PET film industry are certainly enjoying fat profits and expanding their empires, the fact that just ten of them control nearly two-thirds of global capacity suggests the market is less a free-for-all and more a carefully guarded oligopoly's dinner party.
Market Size and Growth
- The global PET film market size was valued at USD 32.5 billion in 2022 and is projected to reach USD 45.8 billion by 2030, growing at a CAGR of 5.6% from 2023 to 2030.
- In 2023, the Asia-Pacific region accounted for 52% of the global PET film market share due to high demand in packaging and electronics.
- The packaging segment dominated the PET film market with a 38% revenue share in 2022, driven by food and beverage applications.
- PET film demand in North America grew by 4.2% YoY in 2023, reaching 2.8 million tons annually.
- The global PET film market is expected to witness a volume growth of 4.8% from 2023 to 2028, led by sustainable packaging trends.
- Europe's PET film market was valued at EUR 4.2 billion in 2022, with a projected CAGR of 4.1% through 2029.
- In 2023, the optical grade PET film segment held 25% of the market, valued at USD 8.1 billion globally.
- India's PET film market expanded by 7.5% in 2023 to USD 1.9 billion, fueled by FMCG sector growth.
- The biaxially oriented PET (BOPET) film sub-market reached 15.2 million tons in global production in 2022.
- Global PET film exports grew 3.9% in 2023, totaling USD 12.4 billion in trade value.
- The global PET film market size was valued at USD 32.5 billion in 2022 and is projected to reach USD 45.8 billion by 2030, growing at a CAGR of 5.6% from 2023 to 2030.
- In 2023, the Asia-Pacific region accounted for 52% of the global PET film market share due to high demand in packaging and electronics.
- The packaging segment dominated the PET film market with a 38% revenue share in 2022, driven by food and beverage applications.
- PET film demand in North America grew by 4.2% YoY in 2023, reaching 2.8 million tons annually.
- The global PET film market is expected to witness a volume growth of 4.8% from 2023 to 2028, led by sustainable packaging trends.
- Europe's PET film market was valued at EUR 4.2 billion in 2022, with a projected CAGR of 4.1% through 2029.
- In 2023, the optical grade PET film segment held 25% of the market, valued at USD 8.1 billion globally.
- India's PET film market expanded by 7.5% in 2023 to USD 1.9 billion, fueled by FMCG sector growth.
- The biaxially oriented PET (BOPET) film sub-market reached 15.2 million tons in global production in 2022.
- Global PET film exports grew 3.9% in 2023, totaling USD 12.4 billion in trade value.
Market Size and Growth Interpretation
The world is increasingly wrapped in a clear, strong, and profitable embrace of PET film, as Asia's factories and our collective hunger for packaged goods and gadgets fuel a multi-billion-dollar, ever-expanding plastic sheet bonanza.
Production and Capacity
- China's PET film production capacity stood at 8.5 million tons per year in 2023.
- Jindal India reported a PET film production capacity of 250,000 TPA in FY2023.
- Global PET film manufacturing capacity increased by 2.1 million tons from 2020 to 2023.
- South Korea's PET film output reached 1.2 million metric tons in 2022, up 5% YoY.
- DuPont Teijin Films expanded its US PET film plant capacity to 180,000 tons annually in 2023.
- India's total PET film capacity was 1.8 million TPA in 2023, with 85% utilization rate.
- Mitsubishi Chemical's PET film production hit 450,000 tons in Japan for FY2022.
- Europe’s PET film capacity utilization averaged 78% in 2023 amid raw material shortages.
- Toray Industries produced 1.1 million tons of PET film globally in 2023.
- Brazil's PET film production grew to 350,000 tons in 2023, a 6% increase.
- China's PET film production capacity stood at 8.5 million tons per year in 2023.
- Jindal India reported a PET film production capacity of 250,000 TPA in FY2023.
- Global PET film manufacturing capacity increased by 2.1 million tons from 2020 to 2023.
- South Korea's PET film output reached 1.2 million metric tons in 2022, up 5% YoY.
- DuPont Teijin Films expanded its US PET film plant capacity to 180,000 tons annually in 2023.
- India's total PET film capacity was 1.8 million TPA in 2023, with 85% utilization rate.
- Mitsubishi Chemical's PET film production hit 450,000 tons in Japan for FY2022.
- Europe’s PET film capacity utilization averaged 78% in 2023 amid raw material shortages.
- Toray Industries produced 1.1 million tons of PET film globally in 2023.
- Brazil's PET film production grew to 350,000 tons in 2023, a 6% increase.
Production and Capacity Interpretation
While China's colossal production capacity dwarfs all others at 8.5 million tons, the global PET film industry is a tense ballet of strategic expansions and supply-chain tightropes, where even a 78% utilization rate in Europe signals a serious scramble for raw materials.
Regional Analysis
- Asia-Pacific held 55% of global PET film production in 2023.
- US PET film imports totaled 1.1 million tons in 2023, up 4% from 2022.
- Germany's PET film market share in Europe was 22% in 2023, valued at EUR 1.8 billion.
- Middle East PET film consumption grew 8.2% to 250,000 tons in 2023.
- Japan's PET film exports reached 450,000 tons in 2023.
- Latin America's PET film market expanded to USD 1.2 billion in 2023.
- Southeast Asia's PET film demand surged 9% YoY to 2.1 million tons in 2023.
- Russia's PET film production capacity was 200,000 TPA in 2023 despite sanctions.
- Africa's PET film imports rose 15% to 180,000 tons in 2023.
Regional Analysis Interpretation
While Asia-Pacific industriously wraps the world, other regions are decidedly cutting, stretching, and thirstily importing their own piece of the PET film pie.
Sources & References
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