Polyethylene Naphthalate (PEN) Market: Overview

Polyethylene naphthalate (PEN) resin is abundantly commercialized in packaging industry as a packaging material of numerus salient characteristics. The PEN market has thus made strides on the back of technological advances witnessed in the packaging sector. A wide variety of end-use industries use PEN as a packaging material. PEN has been used in cosmetic containers, medical packaging, plateware, and numerous others. These applications in the PEN market gain by the high heat and chemical resistance of PEN as also its remarkable transparency that it provided to the contained products. They are also used as a blending materials for PET.

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Polyethylene Naphthalate (PEN) Market: Key Trends

The demand for high-barrier packaging material in food sector is a key trend bolstering sales in the PEN market. Another key factor boosting the growth of the PEN market is the rising demand for making photographic films. These films, in turn, have several high-end applications such as in solar industry and in medical industry as pressure sensitive tapes. Thus, the wide variety of applications of PEN drive the growth prospects in the market.A sizable chunk of sales in the PEN market comes also from their rise in demand for such materials in electronics and electrical applications. However, the high cost of production due to fluctuation in the availability of raw materials has led to some genuine problems for manufacturers around the world.

On the other hand, industry players are keen on exploring cost-effective options. In this regard, low-cost monomers have gathered steam, opening new avenue in the PEN market.

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Polyethylene Naphthalate (PEN) Market: Key Developments

In order to control the cost of production, manufacturers are resorting to integration of the value chain. Top players in the PEN market are simultaneously increasing their production capacities. A growing number of vendors are trying to offer PEN products with high product life to increase their stake in the end-use industries.

Disclaimer: This ongoing market research study is a meticulously planned activity where a broad array of factors and aspects that shape the marketing environment and industry are taken into account. However, keeping in mind the constantly changing nature of business dynamics and changing strategic intents, we are always actively making iterations and modifications in our approaches. As always, we are ready to tailor our insights and guidance to suit your requirements. Engage with us to know what more is there for your CXOs.

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Polyethylene Napthalate Market