)--The polyethylene terephthalate (PET) market is expected to grow by USD 18.94 billion during 2020-2024. The report also provides the market impact and new opportunities created due to the COVID-19 pandemic. We expect the impact to be significant in the first quarter but gradually lessen in subsequent quarters – with a limited impact on the full-year economic growth.Request challenges and opportunities influenced by COVID-19 pandemic - https://www.technavio.com/talk-to-us'report=IRTNTR44928
As per Technavio, the demand for sustainable and recyclable material will have a positive impact on the market and contribute to its growth significantly over the forecast period. This research report also analyzes other significant trends and market drivers that will influence market growth over 2020-2024.Polyethylene Terephthalate Market: Demand for Sustainable and Recyclable Material
PET is high in strength, recyclable, energy-efficient, and its environmental impact is less when compared with aluminum, glass, and other packaging materials. It is light in weight and can accommodate a great number of products in less packaging space. This reduces transportation costs and fuel consumption in the supply chain. Therefore, the increasing demand for sustainable and recyclable materials is expected to drive the growth of the global polyethylene terephthalate market during the forecast period.“Increase in demand from the textile industry and the growth of the packing and automotive industries will further boost market growth during the forecast period”, says a senior analyst at Technavio. Register for a free trial today and gain instant access to 17,000+ market research reportsRequest a free sample report
Some of the key topics covered in the report include:
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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