Polyethylene Terephthalate (PET) Procurement Intelligence anticipated to grow at a CAGR of 9.63% from 2024 to 2030
Polyethylene Terephthalate (PET) Procurement Intelligence Procurement of polyethylene terephthalate (PET) has gained traction across applications, including packaging and textiles, among others. The global market size was valued at USD 45.8 billion in 2023. Future expansion is anticipated to be driven by the growing procurement from the automobile sector.PET, is a thermoplastic polymer that is widely used in automobiles due to its adaptability and resilience to different weather conditions.It contributes significantly to the performance, safety, and visual appeal of modern automobiles' outer and interior components. The increased demand for automobiles is anticipated to spur the product demand. In addition, The e-commerce and healthcare sectors' growing inclination towards recyclable packaging, along with the ongoing progress in lightweight technologies, will propel the polyethylene terephthalate market share throughout the analysis period. 3D printing and materi...