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
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.