About this market
Emergence of bioplastics to drive growth in the market. Bioplastic is an effective alternative for conventional plastic material. Bioplastics offer the advantage of reduced carbon footprints. analysts have predicted that the PET films market will register a CAGR of over 6% by 2023.
Market Overview
Growing demand for ready-to-eat meals
One of the major factors driving the ready-to-eat meals market is the growing need for convenience among customers.
Fluctuating crude oil prices
The raw materials required to manufacture PET films include PET resins, which are derived from petroleum. The volatility in the prices of crude oil have an impact on the prices of petroleum, which affects the price of PET resins and affects the price of PET films as well.
For the detailed list of factors that will drive and challenge the growth of the PET films market during the 2019-2023, view our report.
Competitive Landscape
The market appears to be fragmented and with the presence of several companies including SKC and Toray the competitive environment is quite intense. Factors such as the rising demand for ready-to-eat meals and the emergence of bioplastics, will provide considerable growth opportunities to PET films manufactures. Dupont Teijin Films, Jindal Poly Films, Mitsubishi Chemical Holdings, SKC, Toray, and Tredegar are some of the major companies covered in this report.