Polyethylene Naphthalate (PEN) Market Analysis | 2023-2028

Market Insights

"The global polyethylene naphthalate (PEN) market size was estimated at USD 1.16 billion in 2022 and is likely to grow at a CAGR of 8.04% during 2023-2028 to reach USD 1.87 billion by 2028."

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Polyethylene naphthalate (PEN) is polyester made from polycondensation of ethylene glycol and naphthalene-2,6-dicarboxylic acid. These are made via an ester or acid method and are utilized in a variety of applications, including packaging and electronics.

Market Dynamics

Market Drivers

The surge in demand for packaged food & beverages owing to changing lifestyles, hectic schedules, and increasing disposable incomes may boost the market growth. The growth in demand for frozen and processed foods along with carbonated soft drinks, especially in China, India, and the U.S. is expected to drive the market for polyethylene naphthalate during the forecast period.

Key Players

The following are the key players in the polyethylene naphthalate (PEN) market (arranged alphabetically).

• Dupont Teijin Films
• DuraFiber Technologies, Inc.
• Kolon Plastics, Inc.
• Polyonics, Inc.
• SASA Polyester Sanayi A.
• Seiwa Inc.
• SKC
• Sumitomo Chemical Co., Ltd.
• The EPC Group
• Toray Industries, Inc.

Note: The above list does not necessarily include all the top players in the market.

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Segments Analysis

Application Trends

"The packaging segment accounted for the largest market share."

The polyethylene naphthalate (PEN) market is segmented as beverage bottling, packaging, electronics, and automotive Tires. The packaging segment is expected to witness a significant growth rate in the market during the forecast period owing to the popularity of PEN in food packaging as they have strong barrier qualities and are less permeable to water vapor and oxygen. They also decrease the effects of oxidation in containers, making them perfect for food preservation. In addition, the product minimizes the number of needed layers, allowing the package structure to be simplified while also lowering overall packaging costs.

Regional Insights

"North America accounted for the largest market share."

North America is estimated to be the leading region in the polyethylene naphthalate (PEN) market during the forecast period. The growth of the region is supported by the material providing superior resistance to UV rays, high mechanical properties, and strength along with enhanced oxygen and moisture barrier properties. Furthermore, improved mechanical properties, lightweight, and lower production cycle times are expected to give a facelift to the market growth.

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Research Methodology

This strategic assessment report, from Stratview Research, provides a comprehensive analysis that reflects today’s polyethylene naphthalate (PEN) market realities and future market possibilities for the forecast period. The report segments and analyzes the market in the most detailed manner in order to provide a panoramic view of the market. The vital data/information provided in the report can play a crucial role for the market participants as well as investors in the identification of the low-hanging fruits available in the market as well as to formulate the growth strategies to expedite their growth process.

This report offers high-quality insights and is the outcome of a detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders, and validation and triangulation with Stratview Research’s internal database and statistical tools. More than 1000 authenticated secondary sources, such as company annual reports, fact books, press releases, journals, investor presentations, white papers, patents, and articles, have been leveraged to gather the data. We conducted more than 15 detailed primary interviews with the market players across the value chain in all four regions and industry experts to obtain both qualitative and quantitative insights.

Report Features

This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision-making for the existing market players as well as those willing to enter the market.

What Deliverables Will You Get in this Report?

The polyethylene naphthalate (PEN) market is segmented into the following categories.

By Application Type

• Beverage Bottling
• Packaging
• Electronics
• Automotive Tires

By Region

• North America (Country Analysis: the USA, Canada, and Mexico)
• Europe (Country Analysis: Germany, France, the UK, Russia, Spain, and Rest of Europe)
• Asia-Pacific (Country Analysis: China, Japan, India, South Korea, and Rest of Asia-Pacific)
• Rest of the World (Sub-Region Analysis: Latin America, the Middle East, and Others)

Customization Options

With this detailed report, Stratview Research offers one of the following free customization options to our respectable clients:

Company Profiling

• Detailed profiling of additional market players (up to 3 players)
• SWOT analysis of key players (up to 3 players)

Competitive Benchmarking

• Benchmarking of key players on the following parameters: Product portfolio, geographical reach, regional presence, and strategic alliances.

Custom Research: Stratview Research offers custom research services across sectors. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your inquiry to sales@stratviewresearch.com.