REPORT OVERVIEW
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The global film grade masterbatch PET chips market size was USD 1824.2 million in 2022. As per our research, the market is projected to touch USD 2321.5 million by 2028, exhibiting a CAGR of 4.1% during the forecast period. The global COVID-19 pandemic has been unprecedented and staggering, with the film grade masterbatch PET chips market experiencing higher-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden rise in CAGR is attributable to market’s growth and demand returning to pre-pandemic levels.
Film grade masterbatch PET chips are utilised to improve the film-forming capabilities of polyethylene terephthalate (PET) resin. The incorporation of these chips aids in the production of films with better clarity, gloss, and toughness. Film grade masterbatch PET chips are a specialised type of polymer material used in the production of plastic films, which are frequently utilised in packaging applications. PET is an abbreviation for polyethylene terephthalate, a thermoplastic polymer that is widely utilised in a variety of sectors. A masterbatch is a concentrated mixture of pigments, additives, and/or resins that are introduced into polymers to impart certain qualities to the finished product.
COVID-19 Impact: The Pandemic Upsurged the Demand from the Medical supplies Packaging and Rise of e-Commerce
The pandemic raised demand for medical supplies and personal protective equipment (PPE), increasing the demand for specialised packaging materials. This may have influenced demand for certain types of film grade masterbatch PET chips. With the implementation of lockdowns and social distancing measures, there was a huge growth in online buying and e-commerce activity. This could have resulted in revisions to packing specifications, favouring materials ideal for e-commerce logistics.
LATEST TRENDS
"The Eco-Friendly Packaging and Technological Innovations to Grow Market Potentially"
Consumer preferences for eco-friendly packaging and the desire to reduce plastic waste may lead to changes in the sorts of materials used for packaging applications, which may effect demand for PET chips. There was an increasing emphasis on sustainability and environmental concerns. The demand for PET chips with recycled content or those that are more easily recyclable may have an impact on market dynamics.Innovations in polymer technology, production techniques, and additive formulations can lead to the development of masterbatch PET chips with improved features such as improved barrier qualities, UV resistance, and mechanical strength.
SEGMENTATION
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- By Type
Based on type the film grade masterbatch PET chips market is classified as ordinary, matte, capacitor, optical film and others.
The part ordinary film grade masterbatch PET chips is the leading of all other types.
- By Application
Based on application the film grade masterbatch PET chips market is classified as packaging film, optical film, solar backing film, PET film for dry film resist, construction PET film and others.
The part packaging film is the leading type of the application segment.
DRIVING FACTORS
"Increasing Demand from Food Packaging Industry to Boost the Market Growth "
Film grade masterbatch PET chips are widely used in the packaging industry. PET films are utilised in a variety of packaging applications, including food and beverage packaging, pharmaceutical packaging, consumer products packaging, and more. Any developments or trends in the packaging business can have an impact on PET chip consumption. Rising consumer disposable income and growing urbanisation are two significant forces driving market expansion. This is due to increased demand for flexible packaging solutions, which are utilised in a wide range of industries including food and beverage, personal care items, and medicines. Global growth in the packaged goods industry is predicted to boost product demand throughout the forecast period.
"Demand in Areas of Flexible Displays and the Product Efficiency to Enhance the Market Growth"
Growing demand for flexible electronics, together with expanding application areas for flexible displays, is expected to drive market growth during the forecast period. Due to unique needs relevant to product usage patterns and end goods created from them, packaging films are further processed utilising various techniques such as coating, laminating, and thermoforming. Depending on the end-use application, these processes necessitate different types of packaging films with varying attributes such as flexibility, thickness, and others.
RESTRAINING FACTORS
"The Environmental Concerns and Certain Limitations to Restrain the Market Growth"
Although PET is recyclable, recycling rates vary, and incorrect disposal can cause environmental problems. The increased emphasis on sustainability in the market may put pressure on PET chips to become more ecologically friendly or compete with more sustainable alternatives. When compared to other polymers, PET chips have a lower heat resistance. This constraint may limit their use in high-temperature applications such as frying or microwave packaging.Due to their low chemical resistance, PET chips may not be suitable for applications involving contact with strong chemicals or solvents. All these factors have a substantial influence on film grade masterbatch PET chips market growth.
REGIONAL INSIGHTS
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"Asia Pacific Region to Dominate the Market with Rising Disposable Income and Demand for Electronic Products"
The Asia Pacific region led the worldwide film grade masterbatch PET chips market share. The increase is attributable to rising demand for electronic products and increased investment by numerous industries in developing countries such as China, India, Thailand, Vietnam, and Indonesia. Furthermore, increased disposable income combined with a huge population base will drive industry expansion over the projection period. The region will see tremendous growth as a result of rapid modernization and favourable government policies encouraging foreign direct investment (FDI). Furthermore, rising energy conservation awareness, combined with stringent environmental regulations imposed by various regulatory bodies such as the RoW Association of Southeast Asian Nations (ASEAN), International Electro-technical Commission (IECC), and Organisation for Economic Cooperation and Development (OECD), are expected to propel industry expansion in the coming years.
KEY INDUSTRY PLAYERS
"Financial Players to Contribute Towards Expansion of Market"
The market is extremely competitive and consists of various global and regional players. Major players are involved in strategizing various plans such as mergers and acquisitions, partnerships, introduction of new and enhanced products, along with joint ventures.
List of Market Players Profiled
- Dupont (U.S.A)
- SKC (South Korea)
- Polyplex (India)
- Sinopec Tizheng Chemical Fibre Co., Ltd. (China)
- SANFAME GROUP (China)
- CNPC (China)
- FSPG HI-TECH CO., LTD. (China)
- Zhuhai Yuhua Polyester Co., Ltd. (China)
- Shuangxing New Materials (China).
REPORT COVERAGE
The SWOT analysis and information on future developments are covered in the study.The research report includes a study of a number of factors that promote market growth. This section also covers the range of numerous market categories and applications that could potentially affect the market in the future. The specifics are based on current trends and historical turning points.The state of the market's components and its potential growth areas over the following years. The paper discusses market segmentation information, including subjective and quantitative research, as well as the impact of financial and strategy opinions. Additionally, the research disseminates data on national and regional assessments that take into account the dominant forces of supply and demand that are influencing market growth. The competitive environment, including market shares of significant competitors, is detailed in the report along with fresh research methodology and player strategies for the anticipated time.
| REPORT COVERAGE | DETAILS |
|---|---|
Market Size Value In |
US$ 1824.2 Million in 2022 |
Market Size Value By |
US$ 2321.5 Million by 2028 |
Growth Rate |
CAGR of 4.1% from 2022 to 2028 |
Forecast Period |
2022-2028 |
Base Year |
2023 |
Historical Data Available |
Yes |
Regional Scope |
Global |
Segments Covered |
Type and Application |
Frequently Asked Questions
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What value is the film grade masterbatch PET chips market expected to touch by 2028?
The global film grade masterbatch PET chips market is expected to reach USD 2321.5 million by 2028.
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What CAGR is the film grade masterbatch PET chips market expected to exhibit by 2028?
The film grade masterbatch PET chips market is expected to exhibit a CAGR of 4.1% by 2028.
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Which are the driving factors of the film grade masterbatch PET chips market?
Increasing demand from food packaging industry and demand in the areas of flexible displays and the product efficiency are the driving factors of the film grade masterbatch PET chips market.
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Which are the key players functioning in the film grade masterbatch PET chips market?
Dupont, SKC, Polyplex, Sinopec Tizheng Chemical Fibre Co., Ltd., SANFAME GROUP, CNPC, FSPG HI-TECH CO., LTD., Zhuhai Yuhua Polyester Co., Ltd., Shuangxing New Materials and others are the key players functioning in the film grade masterbatch PET chips market.
