The global polyethylene naphthalate market size was worth around USD 1.25 Billion in 2023 and is predicted to grow to around USD 2.47 Billion by 2032 with a compound annual growth rate (CAGR) of roughly 7.90% between 2024 and 2032.
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The global polyethylene naphthalate market is predicted to increase significantly over the forecast period. Polyethylene naphthalate (PEN) is a kind of polyester made from naphthalene and ethylene glycol. PEN has exceptional features such as extraordinary dimensional stability, resistance to shrinkage, low oxidation rate, and great thermal resistance. PEN’s qualities make it particularly useful in a variety of industries, including food packaging, electronics, and automotive applications.
The rising global consumption of alcohol and packaged foods is predicted to drive demand for polyethylene naphthalate. Using PEN efficiently reduces oxidation and increases the shelf life of food and beverages. The electronic sector is rapidly expanding and is likely to continue so for the foreseeable future. PEN is a versatile material that is widely used in the manufacture of thermal sheets, pressure sensitive tapes, and other products. Pellets and films are made from PEN, making it an important component in a variety of industries.
The growing use of these goods in semiconductors, batteries, capacitors, and other electronic equipment is expected to boost the global polyethylene naphthalate market. PEN is widely used in the mass manufacture of high-performance tires. Adding PEN compounds to a typical rubber mix improves tire stiffness. As a result, tires perform better and last longer. This is expected to support the future growth of the worldwide polyethylene naphthalate market.
Unfortunately, the shortage of 2,6-dicarboxylic acid in recent years, due to its sophisticated manufacturing process, has resulted in higher raw material and production prices. This may impede the expansion of this industry in the approaching years. Furthermore, the anticipated development of more economical monomers is expected to accelerate the growth of the global polyethylene naphthalate market over the forecast period.
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The Global Polyethylene Naphthalate Market is segmented based on product, application and region
Global Polyethylene Naphthalate Market: Product Segment Analysis
● Films
● Bottles and Containers
● Automotive Parts
● Electrical and Electronic Parts
● Textiles
● Other
Global Polyethylene Naphthalate Market: Application Segment Analysis
● Packaging Industry
● Automotive Industry
● Electrical and Electronics Industry
● Textile Industry
● Aerospace Industry
● Healthcare and Medical Industry
● Other
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The global Polyethylene Naphthalate market profiles key players such as:
● DuPont
● Seiwa Inc.
● Teijin DuPont Films
● Sumitomo Chemical
● Toray Monofilament
● DuraFiber Technologies
● SKC
● SASA Polyester Sanayi
● Kolon Plastics
● Polyonics
Polyethylene Naphthalate Market Analysis by Region
The global polyethylene naphthalate market appears to have a bright future in North America, thanks to the significant presence of manufacturers and customers. Furthermore, rising consumption of packaged food and beverage products adds to the region’s significant growth potential. In the North American beverage business, there are various reputable brewing and juice companies. Professionals have long urged for the use of plastic bottles instead of glass to store beer, and PET bottles have been widely used for fruit juices for decades.
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