Key Findings
PET’s demand from the food & beverage packaging industry is chiefly responsible for the progression of the North American market. By the end of the forecast period of 2019-2027, the market is likely to register a CAGR of 6.73% and 4.89% by revenue and volume respectively.

Market Insights
The US and Canada are significant PET markets in North America. While the US market is expected to lead in terms of revenue production by the end of the projected years, the Canadian market is expected to lead in terms of CAGR. The US market’s demand for PET is high and is expected to rise further due to increasing consumption, mainly in the food and beverages sector. Also, there are no restrictions on the type of use of PET by the government as PET is relatively non-toxic, inert and stable. In Canada too, PET has secured its position as the most preferred material in the packaging industry for sectors such as FMCG (Fast Moving Consumer Goods), food and beverage, pharmaceutical, as well as industrial goods. Also, the breweries (alcoholic products) industry in Canada has boosted the application of PET, improving its overall demand.

Competitive Insights
Few of the noted players in this market include M&G Chemicals, JBF Industries Ltd., BASF SE, Jiangsu Sanfangxiang Group, Alpek SAP DE CV, China Resources Chemical Materials Technology Ltd., Hengli Group Ltd., Reliance Industries Ltd., Royal DSM, Sinopec Group, Far Eastern New Century Corporation, Indorama Ventures Public Company Ltd., Octal, Saudi Basics Industries Corp, and Lotte Chemical Corporation.