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  • Polyethylene Naphthalate (PEN) Market Growth Analysis | 2023-2028

    Polyethylene Naphthalate (PEN) Market Growth Analysis | 2023-2028

    Polyethylene Naphthalate (PEN) Market Growth Analysis | 2023-2028
    Report code - SR1179 Delivery - 2 Weeks
    Polyethylene Naphthalate (PEN) Market Size, Share, Trends, Forecast, & Growth Analysis See more...

    Market Insights

    The polyethylene naphthalate (PEN) market 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 in 2028.

    Polyethylene-Naphthalate-(PEN)-Market-Insights

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    What is polyethylene naphthalate (PEN)?

    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.

    Polyethylene Naphthalate (PEN) Market Report Highlights

    Market Size in 2022

    USD 1.16 billion

    Market Size in 2028

    USD 1.87 billion

    Market Growth (2023-2028)

    8.04% CAGR

    Base Year of Study

    2022

    Trend Period

    2017-2021

    Forecast Period

    2023-2028

    Market Dynamics

    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.

    Polyethylene-Naphthalate-(PEN)-Market-Dynamics

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    Segment Analysis

    By Application Type

    Based on the application type, 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

    In terms of regions, 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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    Critical Questions Answered in the Report

    • What are the key trends in the global market?
    • How the market (and its various sub-segments) has grown in the last five years and what would be the growth rate in the next five years?
    • What is the impact of COVID-19 on the global market?
    • What are the key strategies adopted by the major vendors to lead in the market?
    • What is the market share of the top vendors?

    Market Segmentation

    This report studies the market covering a period of 12 years of trend and forecast. The report provides detailed insights into the market dynamics to enable informed business decision-making and growth strategy formulation based on the opportunities present in the market.

    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)

    Polyethylene-Naphthalate-(PEN)-Market-Segmentation

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    Key Players

    Some of the key players in the global market are-

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

    Research Methodology

    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 1,000 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 10 detailed primary interviews with the market players across the value chain in all four regions and with 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. The following are the key features of the report:

    What Deliverables Will You Get in this Report?

    Key questions this report answers

    Relevant contents in the report

    How big is the sales opportunity?

    In-depth Analysis of the Polyethylene Naphthalate (PEN) Market

    How lucrative is the future?

    Market forecast and trend data and emerging trends

    Which regions offer the best sales opportunities?

    Global, regional, and country-level historical data and forecasts

    Which are the most attractive market segments?

    Market Segment Analysis and Forecast

    Which are the top players and their market positioning?

    Competitive landscape analysis, Market share analysis

    How complex is the business environment?

    Porter’s five forces analysis, PEST analysis, Life cycle analysis

    What are the factors affecting the market?

    Drivers & challenges

    Will I get the information on my specific requirements?

    10% free customization

    Report 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)

    Market Segmentation

    • Current market segmentation of any one of the application types by region.

    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.

    Frequently Asked Questions (FAQs)

    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.

    The polyethylene naphthalate (PEN) market was estimated at USD 1.16 billion in 2022.

    The polyethylene naphthalate (PEN) market is likely to reach USD 1.87 billion in 2028.

    The polyethylene naphthalate (PEN) market is likely to grow at a CAGR of 8.04% during 2023-2028.

    Dupont Teijin Films, Sumitomo Chemical Co., Ltd., The EPC Group, Toray Industries, Inc., SKC, DuraFiber Technologies, Inc., Seiwa Inc., SASA Polyester Sanayi A., Polyonics, Inc., and Kolon Plastics, Inc. are among the key players in the market.

    The packaging segment is expected to witness a significant growth rate in the market in the coming years.

    North America is expected to be the leading market during the next five years.

    The surge in demand for packaged food & beverages owing to changing lifestyle, hectic schedules, and increasing disposable incomes are the factors driving the growth of the market.

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