GCC Polyethylene Terephthalate Market Analysis Report 2024: PET's Role in Eco-Friendly Packaging Solutions and Versatility in Automotive Applications - Forecast to 2029 - ResearchAndMarkets.com
GCC PET market demand is forecasted to grow at a CAGR of 5.30% over the projected period of 2024-2029.
- GCC PET market demand is forecasted to grow at a CAGR of 5.30% over the projected period of 2024-2029.
- GCC PET supply is expected to reach 3.61 million ton by 2029, while GCC PET demand in 2023 stood at 2.20 million ton.
- Polyethylene Terephthalate (PET), formed by combining purified terephthalic acid (PTA) or dimethyl terephthalate with modified ethylene glycol, exhibits notable impact resistance and ensures food safety.
- The GCC Polyethylene Terephthalate (PET) market is characterized by a moderately concentrated landscape with several established players vying for market share.