Polyethylene Terephthalate Compounding Market Size Is Expected To Cross USD 7.82 Billion By 2024Posted by Neha Bora on May 18th, 2023 San Francisco, 18 May 2023: The Report Polyethylene Terephthalate Compounding Market Size, Share & Trends Analysis Report By Application (Packaging, Electrical & Electronics, Industrial Machinery, Automotive, Construction, Material Handling), By Region, And Segment Forecasts, 2016 - 2024 The global polyethylene terephthalate (PET) compounding market is expected to reach USD 7.82 billion by 2024, according to a new report by Grand View Research, Inc. Rising polymer demand in end-use industries such as packaging, automotive, electrical & electronics and constructions is expected to remain a key driving force for PET compounding market growth. Strong demand for PET bottles coupled with growing packaged food & beverage industry in emerging economies of Asia Pacific and Latin America such as China, India, Mexico, and Brazil are anticipated to fuel industry growth significantly. Regulatory agencies to reduce Green House Gas (GHG) emissions by means of vehicular weight reduction and fuel efficiency improvements have formulated policies and guidelines. Automotive manufacturers & OEMs in order to meet these regulations have adopted plastics as a replacement for metals such as aluminum and steel. Packaging accounted for over 55% of overall market volume in 2015. Growth in packaging industry can be attributed to the suitability of PET compounds to meet customer requirements with more durable, lightweight and corrosion-resistant parts. Access Research Report of Polyethylene Terephthalate Compounding Market @ https://www.grandviewresearch.com/industry-analysis/polyethylene-terephthalate-pet-compounding-market Further key findings from the study suggest:
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