Brazil Polyethylene Terephthalate (PET) Market Report

Brazil Polyethylene Terephthalate (PET) Market Analysis Report By Application (Fibers, Consumer Goods, Food & Beverages, Films & Sheets), Competitive Landscape, And Segment Forecasts, 2019 - 2025

  • Published Date: Feb, 2019
  • Base Year for Estimate: 2017
  • Report ID: GVR-2-68038-804-6
  • Format: Electronic (PDF)
  • Historical Data: 2014 - 2016
  • Number of Pages: 60

Industry Insights

The Brazil polyethylene terephthalate market size was valued at USD 1.37 billion in 2017. It is expected to expand at a CAGR of 4.7% during the forecast period. Upswing in the demand for the product from the beverage packaging industry in the country has contributed to the growth of the PET market. Polyethylene Terephthalate, commonly known as PET or PETE, is a non-toxic, lightweight, safe, and flexible material, which can be recycled and reused efficiently. It can also be processed up to 3 to 4 times without affecting its chemical properties.

On account of weak domestic demand, due to economic recession faced by Brazil from 2014 to 2016, PET manufacturers witnessed decline in product demand. Since revival of the economy from 2017, which has been characterized by steady domestic demand, manufacturers are focusing on expansion of their resin exports to overcome market challenges. Ongoing economic crisis in Venezuela have also adversely impacted exports from the country. The debt-ridden economy of Venezuela has insufficient access to US dollars, which has resulted in reduced imports from foreign markets.

Brazil Polyethylene Terephthalate (PET) market

Manufacturers of PET in Brazil aim to attain optimum business growth as well as competitive market position through adoption of various strategies such as acquisitions, new product launches, collaborations, and intensive investments in research & development related to PET. Positive growth of applications in the food & beverages and fibers segments is estimated to offer lucrative market growth opportunities to PET producers in the country.

Owing to application opportunities, intensity of rivalry is anticipated to increase during the forecast period. Hence, players are focusing on strengthening their market position through development of novel technologies. PET has gained considerable adoption across application segments such as food & beverage, fibers, consumer goods, and films & sheets.

Application Insights

Major applications of polyethylene terephthalate (PET) include food & beverages, films & sheets, consumer goods, and fibers. Among these, food & beverages were the most prominent application segment in the Brazil PET market in 2017. The segment will continue to dominate the market through 2025.

PET is mainly utilized to produce bottles for the beverage industry. It is safe for food contact and is chemically inert, which enable its extensive use in food packaging applications as well. These aforementioned factors are projected to fuel the demand for PET over the forecast period. Despite economic as well as political crises in Brazil, the food & beverages industry has been reviving since 2017.

Surging demand for high-resistance fibers to manufacture carpet textiles is supporting the growth of the overall market. Fibers manufactured from PET are poised to witness the fastest growth during the forecast period. PET fibers possess high resistance towards stretching, leading to high initial modulus. Moreover, they are stiffer as compared to nylon fibers, which makes the former ideal for application in textiles, where high dimensional stability is needed.

Brazil Polyethylene Terephthalate (PET) Market Share Insights

Key players operating in the market are SABIC; Indorama Ventures Public Company Limited; Alpek S.A.B. de C.V.; RTP Company; Toray International, Inc.; Nan Ya Plastics Corporation; E. I. du Pont de Nemours and Company; and Teijin Limited.

In March 2018, the company entered into an agreement to acquire M&G Polimeros Brazil S.A., which is based in Ipojuca, Brazil. The capacity of the plant is 550,000 tonnes per annum and is the largest in Brazil. Strategic location of the plant offers several benefits such as close vicinity to manufacturers of PTA, which is a key feedstock in the production of PET. The strategy is likely to play a vital role in expanding presence of the company, particularly in South American countries.

Report Scope

Attribute

Details

Base year for estimation

2017

Actual estimates/Historical data

2014 - 2016

Forecast period

2017 - 2025

Market representation

Volume in Kilotons, Revenue in USD Million & CAGR from 2017 to 2025

Country Scope

Brazil

Report coverage      

Revenue forecast, competitive landscape, growth factors and trends

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Segments Covered in the Report

This report forecasts revenue at country level and provides an analysis of the industry trends in each of the sub-segments from 2014 to 2025. For the purpose of this study, Grand View Research has segmented the Brazil polyethylene terephthalate (PET) market report on the basis of application:

  • Application Outlook (Volume, Kilo Tons; Revenue, USD Million, 2014 - 2025)

    • Food & Beverages

    • Films & sheets

    • Consumer Goods

    • Fibers

    • Others

Key questions answered by the report
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