Polyethylene Naphthalate (PEN) Market Research Report – Forecast to 2030

Polyethylene Naphthalate (PEN) Market Information: by Manufacturing Process (Acid and Ester), by Application (Beverage Bottling, Food Packaging, Electronics, Rubber Tires, and Others), and by Region - Forecast till 2030

ID: MRFR/CnM/4464-HCR | February 2023 | Region: Global | 100 Pages         

Polyethylene Naphthalate Market Speak to Analyst Request a Free Sample

Polyethylene Naphthalate (PEN) Market

Polyethylene Naphthalate (PEN) Market is projected to be worth USD 640.25 Million by 2028, registering a CAGR of 8.9% during the forecast period (2021 - 2028).

Segmentation
By Manufacturing Process Acid Ester
By Application Beverage Bottling Food Packaging Electronics Rubber Tires Others
Key Players
Companies Profiled   DuPont Teijin Films (U.S.)   Sumitomo Chemical Co. Ltd (Japan)   DuraFiber Technologies Inc. (U.S.)   TORAY MONOFILAMENT CO. LTD (Japan)   Thermo Fisher Scientific (U.S.)   Merck KGaA (Germany)   SKC Inc. (South Korea)   SASA Polyester Sanayi A.S. (Turkey)   Seiwa Inc. (Japan)   Polyonics Inc. (U.S.)   Shell Global (U.S.)   3M (U.S)   KOLON PLASTIC INC. (South Korea)   DowDupont (U.S.)   GTS Flexible Ltd. (U.K).
Drivers
Market Driving Forces   The increasing use of polyethylene naphthalate in food packaging is expected to propel the market growth during the review period due to its high durability
Request a Free Sample

Polyethylene Naphthalate Market Overview Polyethylene Naphthalate (PEN) Market is projected to be worth USD 640.25 Million by 2028, registering a CAGR of 8.9% during the forecast period (2021 - 2028). Polyethylene Naphthalate (PEN) is a thermoplastic polymer with high mechanical strength, dielectric strength, and resistance to temperature, solvents, and chemicals. The material has applications in automotive, medical, and food packaging. PEN is also used in other industrial sectors such as aerospace, electronics, and consumer goods. The global market of PEN is segmented into acid and ester-based on the manufacturing process. On the basis of applications, the market can be classified into beverage bottling, electronics, rubber tyres, and others.The PEN market is expanding due to the rising demand for lightweight materials in automobiles and electronic equipment. Since the material is used in packaging because of its low energy consumption, low cost, and low environmental impact, there is an increase in its demand in the food packaging industry. The Asia Pacific is the fastest-growing region in the Polyethylene Naphthalate Market, owing to the availability of low-cost raw materials in this region.

Polyethylene Naphthalate Market, by Application (%):


 Polyethylene Naphthalate Market


Source: MRFR analysis


Regional Analysis


The Polyethylene Naphthalate Market is segmented into five regions: North America, Asia Pacific, Europe, Latin America, and the Middle East & Africa.


North America is leading the Polyethylene Naphthalate Market on account of the high production and consumption of polyethylene naphthalate in the U.S. Furthermore, expanding food & beverage industry in the region is likely to influence the market growth positively. The increasing demand for the product in automotive and electronics sector is expected to fuel the market growth further.


Asia Pacific is the fastest emerging region in the Polyethylene Naphthalate Market due to growing demand from major end-use industries such as packaging, automotive, and electronics. The availability of raw materials at a lower price in this region is an added advantage to the market growth.


Europe is expected to grow owing to the high penetration of the product in the manufacturing of automotive parts, especially in Western European countries such as France, the U.K, Italy, and others.


The Latin American Polyethylene Naphthalate Market is expected to witness a significant growth owing to changing consumption pattern and growing automotive and electronics industries in the region.


The Middle East & Africa region is projected to offer various opportunities to increase the Polyethylene Naphthalate Market Growth due to the expanding yet untapped market region over the assessment period.


Segmentation


The Polyethylene Naphthalate Market is segmented by Manufacturing Process and Application.


Based on the Manufacturing Process, the Polyethylene Naphthalate Market is segmented into acid and ester.


Based on the Application, the Polyethylene Naphthalate Market is segmented into beverage bottling, food packaging, electronics, rubber tires, and others.


Key Players


Some of the manufacturers operating in the Polyethylene Naphthalate Market are DuPont Teijin Films (U.S.), Sumitomo Chemical Co., Ltd (Japan), DuraFiber Technologies Inc. (U.S.), TORAY MONOFILAMENT CO., LTD (Japan), Thermo Fisher Scientific (U.S.), Merck KGaA (Germany), SKC Inc. (South Korea), SASA Polyester Sanayi A.S. (Turkey), Seiwa Inc. (Japan), Polyonics, Inc. (U.S.), Shell Global (U.S.), 3M (U.S), KOLON PLASTIC INC. (South Korea), DowDupont (U.S.), and GTS Flexible Ltd. (U.K).Recent Development


One of the top manufacturing companies in the US, DuPont Teijin Films has reintroduced Kaladex® polyethylene naphthalate (PEN) high-performance polyester films, which were first manufactured in 1992 at its facility in Dumfries, Scotland, and are now commercially available. Kaladex® PEN films have a higher glass transition temperature than PET and outperform PET in terms of long-term aging performance at high temperatures. Other inherent properties include greater dimensional stability and stiffness than PET.


The India Engineering Center (IEC), a new R&D and engineering facility for Thermo Fisher Scientific, has been inaugurated in Hyderabad. Thermo Fisher's newly expanded India Engineering Center (IEC) is part of Thermo Fisher's R&D Center of Excellence in India and will create 140 new jobs in the region. Thermo Fisher Scientific invests more than $1.4 billion in research and development each year. Furthermore, the facility will attract top talent and create job opportunities in Telangana.


Intended Audience



  • Polyethylene naphthalate Manufacturers

  • Traders and distributors of polyethylene naphthalate

  • Research and development institutes

  • Potential investors

  • Raw material suppliers

  • Nationalized laboratory



Report Scope:

Report Attribute/Metric Details
  Market Size   2030: Significant value
  CAGR   2022–2030: Substantial CAGR
  Base Year   2021
  Forecast Period   2022 to 2030
  Historical Data   2019 & 2020
  Forecast Units   Value (USD Million)
  Report Coverage    Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
  Segments Covered   By Manufacturing Process, Application and Region
  Geographies Covered   North America, Europe, Asia-Pacific, and Rest of the World (RoW)
  Key Vendors   DuPont Teijin Films (U.S.), Sumitomo Chemical Co., Ltd (Japan), DuraFiber Technologies Inc. (U.S.), TORAY MONOFILAMENT CO., LTD (Japan), Thermo Fisher Scientific (U.S.), Merck KGaA (Germany), SKC Inc. (South Korea), SASA Polyester Sanayi A.S. (Turkey), Seiwa Inc. (Japan), Polyonics, Inc. (U.S.), Shell Global (U.S.), 3M (U.S), KOLON PLASTIC INC. (South Korea), DowDupont (U.S.), and GTS Flexible Ltd. (U.K).
  Key Market Opportunities   The demand for PEN in electronics is projected to drive the market further.
  Key Market Drivers   The increasing use of polyethylene naphthalate in food packaging is expected to propel the market growth during the review period due to its high durability


Speak to Analyst Ask for Customization

Frequently Asked Questions (FAQ) :

PEN is a polyester that can be manufactured from ethylene glycol. It is mainly used in packaging applications.

Major applications of PEN include beverage bottling, food packaging, electronics, rubber tires, and others.

The growing demand for food packaging is the major driver for the PEN market.

North America is the dominant regional segment of the global PEN market.

Leading players in the PEN market include Toray, DuPont Teijin, and Sumitomo, among others.