Global consumption of polyethylene terephthalate (PET) packaging is forecast to increase to 19.1m tonnes by 2017 – a 5.2% increase per annum, driven by demand and emerging economies, according to a new report.
The Future of Global PET Packaging to 2017 examines areas of growth, environmental influences and supply chain effects through geographical areas and end user markets to make future forecasts for the use of PET in the food packaging industry.
The report is based on research including interviews with PET resin suppliers, processors, equipment manufacturers, regulatory and standards bodies, technologists, suppliers and end users.
It focusses on the markets future in the next five years and the impact of the 2008-2009 economic downturn, while highlighting market value has increased 5.5% annually since 2007.
New developments in barrier system advances, light-weighting, an emphasis on sustainability and recycling and compression technology for PET perform production are identified.
Asia Pacific, South America and Central and Eastern Europe will show higher growth as a result of growing incomes and PET bottles replacing more traditional formats, it said.
Asia Pacific overtook North America and Western Europe during the last five years to become the largest regional market for PET packaging. The region accounts for a projected 29.4% of world consumption this year, followed by North America with 24.1% and Western Europe with 19.7%.
The study found recycling is a key issue along the supply chain as recycling PET conserves fossil fuel, reduces energy usage and reduces greenhouse emissions.
Growth in the recycled PET (rPET) market is being driven by firms trying to balance making an environmental and economic difference to their brands and the cost compared to virgin material.
Issues around the quality and quantity of supply were identified as factors having a negative impact on the sector.
It features companies including Amcor, Berry Plastics, Graham Packaging, Linpac, Nampak Plastics Europe, Pactiv Corporation, Silgan Plastics and Sonoco.