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Expansion opportunities in North America for the polyethylene naphthalate market

Author : Rahul Varpe | Published Date : 2019-03-15 

According to a new research report Polyethylene Naphthalate Market may exceed USD 1.8 billion by 2024. The food and beverage consumption habits in North America have seemed to be the same for decades, but still considered to be changing to keep pace with a shift in lifestyle and work culture. Expounding on the statement, countries like U.S. and Canada have been major consumers of packaged food and drinks, although the type and quantity of products being consumed have changed over a period of time.

The region has always witnessed an upward trend in this regard and in 2017, the total value of packaged food products in the U.S. had reached over USD 375 billion. As the consumption of processed food will rise year on year, the North America PEN market will certainly gain significant proceeds in the near future.

Rising demand for convenience foods, rapid lifestyle changes, rising urban population and shifting consumer preference towards ready to eat meals may propagate market growth. Polyethylene naphthalate products provide superior barrier properties, oxygen and moisture barrier, water vapor and UV resistance. Additionally, increasing fast food consumption and expanding food retail sector majorly in India, China and U.S., may have a positive impact on the market growth.

To access a sample copy or view the Polyethylene Naphthalate Market report in detail along with the table of contents, please click the link below: https://www.gminsights.com/request-sample/detail/3068

Polyethylene naphthalate market from electronics applications may surpass USD 300 million by the end of forecast period. PEN films provides excellent UV resistance, low heat shrinkage, high gloss and optical clarity. The product's provides relative high melting point and glass transition temperature (120°C) which are highly suitable for applications requiring sterilization at maximum temperatures. Some of the major electronics and electrical applications include optical displays, flexible printed circuits, electrical insulation, laminates, labels and processing films for semiconductors.

Polyethylene naphthalate market from automotive tyre applications may register gains at above 7.5% by the end of 2024. These products are highly utilized in the tyre manufacturing majorly suited for high-end luxury cars providing noise reduction along with rigidity. PEN based films enables light weight in cars and trucks thereby enabling fuel efficiency and reduction in Co2 emissions. Stringent EPA regulations regarding high fuel efficiency has promoted automotive manufacturers to incorporate products which provides light weight to vehicles thereby stimulating PEN market growth.

Asia Pacific polyethylene naphthalate from beverage bottling applications may surpass USD 190 million by 2024. The product provides oxidation resistance, durability, excellent barrier properties, flexibility, robustness and great compatibility with various chemicals making it suitable for making bottle packaging. Increasing consumer demand for alcoholic beverages mainly beer owing to growing youth population, urbanization and increasing affordability of such beverages may boost product market demand in the region.

Global polyethylene naphthalate is competitive and substantially consolidated with industry participants including Teijin, Toray, Dupont, EPC, Toray, Polyonics, Seiwa Inc. and DuraFiber Technologies, Inc. Prominent industry giants are engaged in forming partnerships, collaborations and joint ventures for enhancing product range and regional reach along with heavy investments in research purposes.

 

About Author

Rahul Varpe

Rahul Varpe

Rahul Varpe currently writes for fractovia. A communication Engineering graduate by education, Rahul started his journey in as a freelancer writer along with regular jobs. Rahul has a prior experience in writing as well as marketing of services and products online. Apart from being an avid reader, his other hobbies include music and sketching. He can be contacted at- [email protected] | https://twitter.com/varperahul

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