GCC Crystalline Polyethylene Terephthalate (CPET) Market Worth $713.1 Million by 2021

Thursday 17 November 2016, Amsterdam

The Report, now available on ASDReports,  “GCC Crystalline Polyethylene Terephthalate (CPET) Market By Application (Food Packaging, Beverage Packaging, Others), By Country (Saudi Arabia, UAE, Qatar, Oman, Kuwait, & Bahrain) - Analysis And Forecast To 2021” is estimated to reach $713.1 Million by 2021, at a CAGR of 14.6% from 2016 to 2021.

Food packaging segment expected to dominate the GCC crystalline PET market by 2021

The food packaging segment is expected to contribute the maximum share to the GCC crystalline PET market by 2021. Increasing demand from the packaged food industry is driving growth in this segment. The physical and chemical properties of crystalline PET make it preferable over other polymers in the packaging industry. Besides, development of new products, increasing investments in advertising, and growth in retail space are anticipated to boost the crystalline PET demand in future.

Saudi Arabia to dominate the GCC crystalline PET market during the forecast period

Saudi Arabia accounted for the largest share of the GCC crystalline PET market in 2015, followed by the U.A.E. The market in Saudi Arabia is expected to further witness high growth in the future. The country’s large share and expected growth is attributed to the growing consumption of packaged food as well as the purchasing power of the masses.

Major players in the GCC crystalline PET market include as The Dow Chemical Company (U.S.), Saudi Basic Industries Corporation (Saudi Arabia), OCTAL (Oman), and JBF RAK LLC (U.A.E). The other leading global players that operate in this market are Indorama Ventures Public Company Limited (Thailand), Far Eastern New Century Corporation (Taiwan), DAK Americas LLC. (U.S.), and Invista (U.S.).

The report focuses on the current market trends, as well as estimates and forecasts for the period 2016-2021. Key strategic activities in the market including mergers & acquisitions, expansions, agreements, collaborations, and disinvestments have been covered to provide a deep insight about the growth perspectives of the market. Mergers & acquisitions is a key part of this market. Manufacturing companies, associations, and end-product manufacturers infuse high investments for future advancements and technology modifications of crystalline PET to match the new demands coming from various end-user industries in the GCC region. The report covers GCC crystalline PET market by application (food packaging and beverage packaging) and by countries (Saudi Arabia, UAE, Qatar, Oman, Kuwait, and Bahrain).