Polyethylene Naphthalate Market growth outlook with industry review and forecast 2018-2024
U.S. polyethylene naphthalate market from packaging
applications may exceed USD 130 million by the forecasted timeframe. Rising
product demand from packaged food applications pertaining to high dimensional
stability, high temperature stability, shrinkage resistance which may boost
product demand. Increasing consumer demand for convenient food & beverages
along with rising trend for on the go consumption may accelerate industry
growth.
China polyethylene naphthalate market size may expect gains
at over 8.5% by the end of 2024. Growing demand from automotive, electronics
and packaging industries may propel regional market growth. Additionally,
various manufacturers are shifting their production base from Europe and North
America to China which may provide ample growth opportunities for market
growth.
Polyethylene Naphthalate (PEN) Market size is set to
surpass USD 1.8 billion by 2024; according to a new research report by Global
Market Insights, Inc.
Growing product demand for polyethylene naphthalate films
in various industries such as automotive, electronics, food and beverage
packaging, aerospace, imaging and photography applications may accelerate
market growth. It is used in capacitors, providing self-healing properties,
excellent shock resistance along with increasing overall reliability. The capacitors
produced from these films provide low dielectric absorption, DC bias and
enhances capacitance values similar to ceramic capacitors thereby stimulating
polyethylene naphthalate market demand.
Polyethylene naphthalate (PEN) market size from beverage bottling
applications was valued at over USD 280 million in 2017. These are majorly
incorporated in production of beer and juice bottles as the material provides
high oxygen and moisture barriers of about 5 times more than PET and is
considered most effective mono material. Also, these products provide
durability when exposed to high temperatures. Increasing alcoholic beverages
consumption owing to rapid urbanization, rising beer demand among youth
population and affordability are the major factors contributing to polyethylene
naphthalate market demand.
Polyethylene naphthalate market size from automotive tyres
may witness significant gains at above 7.5% during the projected period. They
are used in high-end and luxury cars providing smooth ride, rigidity and noise
reduction making it an ideal material for producing lightweight tyres. Also,
provides high dimensional stability when compared to plastics such as rayon and
nylon. Increasing manufacturers inclination towards incorporation of PEN based
products in cars along with its superior properties may promote market growth.
Germany polyethylene naphthalate market demand may witness
gains of above 7.5% up to 2024. These products are used in producing high
performance fibers as have better dimensional stability and high modules when
compared to nylon fibers and PET.
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Complete Report Summary @
Teijin DuPont, Toray Industries, Durafiber Technologies,
EPC Group, SKC, Polyonics and Kolon Plastics are the major manufacturers in the
market. The raw material suppliers are forwardly integrated and supply these
products to various end-use industries. The manufacturers are highly engaged on
attracting new customers along with spending heavily on research activities to
provide cost-effective products on a larger scale which may promote
polyethylene naphthalate industry growth.
About
Global Market Insights:
Global Market Insights, Inc., headquartered in Delaware,
U.S., is a global market research and consulting service provider; offering
syndicated and custom research reports along with growth consulting services.
Our business intelligence and industry research reports offer clients with
penetrative insights and actionable market data specially designed and
presented to aid strategic decision making. These exhaustive reports are
designed via a proprietary research methodology and are available for key
industries such as chemicals, advanced materials, technology, renewable energy
and biotechnology.
Contact
Us:
Contact Person: Arun Hegde
Corporate Sales, USA
Global Market Insights, Inc.
Phone:1-302-846-7766
Toll Free: 1-888-689-0688
Polyethylene Naphthalate Market growth outlook with industry review and forecast 2018-2024
Reviewed by snehal
on
January 22, 2019
Rating:
Reviewed by snehal
on
January 22, 2019
Rating:
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