Copolyesters Market: Introduction
- Copolyesters are a combination of diacids and diols. They are amorphous in nature and possess high clarity and transparency. Copolyesters are tough and exhibit good impact strength, chemical resistance, and can be sterilized by high-energy radiation.
- Flexibility and versatility offered by copolyesters enables manufacturers to use them effectively in the design of high-volume, low-cost parts and critical and more expensive components
Key Drivers of Global Copolyesters Market
- The global copolyesters market is driven by the diverse applications of copolyesters owing to the various characteristics that they possess, such as flexibility. Copolyester are majorly utilized in packaging applications, due to their versatility, toughness, and resistance to chemicals. They are also used in the packaging of consumer goods and materials.
- Copolyester-based PETG (polyethylene terephthalate) is extensively utilized in the clothing industry. PETG is also used to manufacture films, tarpaulin, bottles, canoes, liquid crystal display, and film insulation for insulating tapes.
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PETG Resin Segment to Dominate Global Market
- The PETG segment dominated the global copolyesters market in 2018, owing to its extensive usage in various industries, such as medical, food packaging, automotive, and electronics. The specialty ester segment is anticipated to expand at a significant rate due to a rise in the demand for PETG in cosmetic and medical product packaging, and as an insulator in electrical applications.
- PETG is a physical mix of polymers that possess both thermoelastic and elastomeric properties. PETG is a thermoplastic of the polyester family that is used to manufacture food & beverage containers. It is also used in thermoforming applications.
- PETG has a lower chemical resistance; however, it has superior solvent and ultrasonic bonding ability, as compared to that offered by PCTG (poly cyclohexylenedimethylene terephthalate glycol), which makes is suitable for medical and medical packaging applications
Packaging Application Segment to Expand Significantly
- In terms of application, packaging was the dominant segment of the copolyesters market in 2018. The packaging industry in Asia Pacific has expanded significantly and witnesses intense competition, as compared to the market in other regions across the globe, which has enhanced the demand for copolyesters in the region. The food & beverage sector in several countries across the globe witnessed expansion, and it employs copolyesters in various packaging of food products and beverages.
- Copolyesters possess very high chemical resistance and are used in applications in drug delivery, IV systems and components, injection caps, and vials
- PETG is commonly employed as an insulator in electrical applications, thermoformed plastic clamshells, cosmetic packaging, food trays, and blister packaging
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North America to Hold Significant Share of Global Copolyesters Market
- In terms of region, the global copolyesters market can be divided into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa
- North America dominated the global copolyesters market in 2018. Expansion of automotive and packaging sectors in the region is a major factor driving the demand for copolyesters.
- Demand for copolyesters in Europe is driven by Germany and the U.K., which emerged as major markets for copolyesters, owing to the significant demand from the packaging industry.
- The market in Asia Pacific is expected to expand at a rapid pace during the forecast period owing to a rise in the demand for medical, food, and cosmetic packaging in emerging economies such as China and India.
Key Players Operating in Global Market
The global copolyesters market is highly consolidated with a few big players dominating the market. The big players operating in the market are concentrated in Europe and North America, and accounted for a substantial share of the copolyesters market.
Key players operating in the global copolyesters market include:
- Royal DSM
- SK Chemicals
- BASF SE
- Bostik AG
Global Copolyesters Market: Research Scope
Global Copolyesters Market, by Product
- PET and PETG
- PCT and PCTG
Global Copolyesters Market, by Application
- Electronics and Appliances
- Medical Devices
Global Copolyesters Market, by Region
- North America
- Russia & CIS
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- South Africa
- Rest of Middle East & Africa
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