Sarasota, FL -- (SBWire) -- 03/08/2019 --Global Polyethylene Naphthalate (PEN) Market: Overview

Polyethylene naphthalate are basically polyesters that are derived by the process of polycondensation involving naphthalene dicarboxylic acid and ethylene glycol. Various market players are experimenting with products made from polyethylene naphthalate for its incorporation in non-carbonated, carbonated, and packaging containers. The demand and popularity of the polyethylene naphthalate (PEN) market across the globe can be attributed to the growing demand for packaged foods drinks, owing to changing lifestyles, busy schedules, etc.

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Global Polyethylene Naphthalate (PEN) Market: Growth Factors

The major growth driver of the global polyethylene naphthalate (PEN) market in the future is the growing demand for packaged foods drinks, owing to changing lifestyles, busy schedules and increasing disposable incomes of the global population. Other factors that are anticipated to contribute notably toward the expansion of the polyethylene naphthalate (PEN) market globally over the estimated timeframe include the shifting consumer preference toward packaged food items and beverages, due to rising inclination toward fast food, increasing working population, and the increasing automobile production, as polyethylene naphthalate is primarily used for manufacturing vehicles' tires. Furthermore, rising consumption of a wide range of carbonated beverages, such as beer, due to their easy availability and the growing urbanization are projected to positively impact the market for polyethylene naphthalate (PEN) market in the years ahead.

Global Polyethylene Naphthalate (PEN) Market: Segmentation

The global polyethylene naphthalate (PEN) market is categorized based on application. By application, the global polyethylene naphthalate (PEN) market is segmented into automotive tires, electronics, beverage bottling, packaging, and others. The packaging segment is likely to grow rapidly in this global market over the forecast timeframe, owing to the growing consumption of packaged foods and drinks across the world.

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Global Polyethylene Naphthalate (PEN) Market: Regional Analysis

By region, this global market is primarily divided into Asia Pacific, North America, the Middle East and Africa, Europe, and Latin America. North America is likely to hold a substantial share of the polyethylene naphthalate (PEN) market globally over the estimated timeframe. This regional growth can be attributed to the various beneficial properties of polyethylene naphthalate, such as superior resistance to UV rays, high strength, and resistance to moisture and oxygen along with withstanding extreme temperatures, which makes it ideal for manufacturing refillable bottles. Furthermore, lightweight, lower production cycle time and improved mechanical properties are expected to further boost the North American polyethylene naphthalate (PEN) market in the future. The Asia Pacific polyethylene naphthalate (PEN) market is likely to be driven mainly by India, Japan, and China over the forecast time period. This can be attributed to the shifting consumer preference toward packaged food items and beverages, due to rising inclination toward fast food, and increasing working population. The European market for polyethylene naphthalate (PEN) market is anticipated to be led by France, Germany, and the UK in the years ahead. This can be attributed to the increasing automobile production, as polyethylene naphthalate is primarily used for manufacturing vehicles' tires, the growing exports volume of passenger vehicles, and the presence of globally renowned automobile manufacturers, such as Mercedes, Audi, and BMW.

Global Polyethylene Naphthalate (PEN) Market: Competitive Players

Some most important players of the global polyethylene naphthalate (PEN) market are DuraFiber Technologies, Seiwa Inc., Toray Industries, Sumitomo Chemicals, SASA, and Teijin DuPont, among others.

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Global Polyethylene Naphthalate (PEN) Market: Regional Segment Analysis

North America
The U.S.
Europe
The UK
France
Germany
The Asia Pacific
China
Japan
India
Latin America
Brazil
The Middle East and Africa