The application of polyethylene naphthalate is seen in packaging, beverage bottling, electronics, and automotive tyres. Among these, the demand for polyethylene naphthalate is expected to be high in packaging as it helps in reducing oxidation and increasing shelf life until food is finally consumed. It also provides high shrinkage resistance, high temperature properties, superior barrier properties, and dimensional stability. In addition, polyethylene naphthalate provides heat resistance, low oligomer extraction, anti-hydrolysis, and strengthen which has boosted its demand in electronics industry.
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The report present crucial information on the global polyethylene naphthalate market in a comprehensive manners and has covered significant factors affecting the market’s growth. It is tailored in a manner that can be easily understood by the individuals operating in the market. It gives out the information relating to key drivers and restraints, growth opportunities, and ongoing trends in the market. Moreover, key markets offering high growth prospects and vendor landscape is also discussed in the report.
Global Polyethylene Naphthalate (PEN) Market: Trends and Opportunities
Globally, the demand for smartphones, tablets, laptops, and desktops has increased at a significant rate. In United States itself, the demand for consumer electronic is expected to reach US$1.5 tn by the end of forecast period. As polyethylene naphthalate is used for the imaging, pressure sensitive tapes, electrical, thermal sheets, and solar cell protection have will significantly boosted the demand for polyethylene naphthalate in this region.
Global Polyethylene Naphthalate (PEN) Market: Geographic Analys
On geographical front, North America is likely to offer huge growth opportunity in this market due to the presence of large number of producers and customers in the U.S. Rising demand for polyethylene naphthalate in the automotive industry as it provide improved mechanical properties, superior resistance to UV rays, and high moisture barrier. These factors led the growth in the global polyethylene naphthalate market. Europe is also expected to drive the demand in this market as it is used in producing high performance sailcloth and laminating sail on boats with high resistance from sunlight. In addition, growing demand for electronic vehicles in the regions further boosted the demand for polyethylene naphthalate.
Asia Pacific is expected to offer lucrative growth opportunity in this market in the coming years. Rising demand for packaged products and growing application of polyethylene naphthalate in end use industries including automotive, food and beverages, packaging, and others have led in the demand in this market.
Global Polyethylene Naphthalate (PEN) Market: Companies Mentioned
In the competitive landscape section, the report has covered prominent vendors operating in the global polyethylene naphthalate market. In this particular market, leading vendors have strategic geographical presence with multiple production facilities across the globe. This has helped them getting stronger hold in the market and provided them a competitive edge in the market. Innovation, collaboration, partnership, mergers, and expansion are some of the most preferred business development strategies used by the vendors operating in this market. As the market is likely to be consolidated, key players are making conscious efforts to stay put in the market.
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As per the report, some of the prominent players functioning in the global polyethylene naphthalate market are Toray Monofilament Co., Ltd., SKC Inc., Sumitomo Chemical Co., Ltd., Teijin DuPont Films, SASA Polyester Sanayi A.S, DuPont, DuraFiber Technologies, Inc., and Seiwa Inc.