Burnaby, Canada, March 19, 2015 --(PR.com
)-- According to a recently published report by TechSci Research, “India PET & PBT Resins Market Forecast & Opportunities, 2020,” the PET & PBT resins market in India is expected to surpass USD1.9 billion in 2015. Polyethylene Terephthalate (PET) is a plastic polymer produced by reacting two raw materials, Purified Terephthalic Acid (PTA) & Monoethylene Glycol (MEG), whereas Polybutylene Terephthalate (PBT) is manufactured from PTA and BDO (1, 4-butanediol). These resins are used for manufacturing plastic and plastic components, which have wide applications in bottling, textile, electronics and automobile industry. India’s PET market continues to be dominated by PET bottles, followed by PET films, sheets and chips, and the trend is expected to continue over the next five years. PET bottles are being increasing used for packaging of bottled drinking water, carbonated soft drinks, edible oils, juices, alcoholic beverages, etc.
On the other hand, PBT resin market in India continues to be commanded by electrical and electronics industry. Technological advancements in the electrical and electronics industry coupled with emergence and growing adoption of innovative electrical solutions like CFLs and LEDs over the last few years is further boosting PBT resin sales in the country. Apart from electrical and electronics industry, Optical Fibre Cables (OFC) and automobile industry are other major end users of PBT resin industry.
“India PET market is highly consolidated with Reliance Industries Limited (RIL), JBF Industries Limited and Dhunseri Petrochem Limited accounting for over 90% of the market share. Over the last few years, these PET majors in India have been increasing their focus on backward integration to increase their profit margins and address concerns associated with irregular supply of raw materials. In contrast, the country’s PBT market is highly fragmented with non-branded players accounting for a significant market share,” said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm. Few of the major PBT players operating in the country include Toray BASF, SABIC, SRF, DuPont and Laxness.
“India PET & PBT Resins Market Forecast & Opportunities, 2020” has evaluated the future growth potential of PET & PBT resins market and provided the statistics and information on market structure, industry behaviour and trends. The report includes PET & PBT resins market projections and demand forecasting. The report is intended to provide cutting-edge market intelligence and help decision makers to take sound investment evaluation. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges and opportunities available in PET & PBT resins market in India.