India PET Resin Market to Grow with a CAGR of 4.53% through 2030
Technological Advancements are expected to drive the India PET
Resin Market growth in the forecast period, 2026-2030.
According to TechSci Research report, “India PET
Resin Market- By Region, Competition, Forecast and Opportunities,
2020-2030F”, the India PET Resin Market was valued at USD 1.33 Billion in 2024 and
is anticipated to grow with a CAGR of 4.53% through 2030. Innovations in manufacturing processes, such as improved polymerization
techniques, enhance the efficiency of PET resin production, leading to lower
costs and increased output. Technological advancements enable the creation of
higher-quality PET resin with better physical attributes, including clarity,
strength, and thermal stability, making it suitable for a wide range of
applications.
New recycling technologies, including advanced
mechanical and chemical methods, streamline the processing of post-consumer
PET, boosting the availability of recycled PET (rPET) and supporting
sustainability efforts. For instance, in September 2023, Indorama Ventures
Public Co Ltd announced a USD150 million investment in three PET recycling
plants in India, aiming for commercial production by 2026. The company has
secured basic regulatory approvals and is currently acquiring land near its
existing PET production facilities in Haldia, Nagpur, and Panipat. The rPET
generated from these plants will supplement Indorama Ventures’ current annual
production capacity of 800,000 tonnes for both domestic and export markets. Technological
advancements also allow manufacturers to tailor PET resin for specific
applications, creating specialized grades with customized barrier properties to
meet various industry needs. The integration of automated systems and digital
technologies enhances operational efficiency, reduces labor costs, and improves
monitoring and quality control.
Ongoing research and development initiatives are
focused on creating bio-based PET alternatives and improving the performance of
existing PET products, aligning with sustainability goals and consumer
preferences. Technologies that support the incorporation of recycled materials
into new products not only further environmental objectives but also address
the increasing consumer demand for sustainable packaging solutions. Companies
that embrace the latest technologies can set themselves apart in the market by
offering innovative products that meet evolving consumer demands. These
advancements position PET resin as a flexible and appealing choice for
manufacturers, driving growth and competitiveness within the industry.
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The India PET Resin Market is segmented into type, end
use, regional distribution, and company.
Based on the type, the Staple
emerged
as the fastest growing segment in the Indian market for PET Resin in 2024.
The
growing demand for sustainable and comfortable clothing is propelling the use
of PET staple fibers within the textile industry. Increased consumption of home
textiles—such as carpets, curtains, and upholstery further drive the need for
these fibers. PET staple fibers are versatile, applicable in various sectors
including apparel, automotive interiors, and non-woven products, which enhances
their market appeal. The trend towards eco-friendly products is motivating
manufacturers to incorporate recycled PET staple fibers, aligning with consumer
preferences for sustainable materials. For instance, in February 2023, EcoLine Clothing, a
sustainable fashion company based in Karur, Tamil Nadu, gained attention for
its innovative "bottle-to-garment" concept. The brand received
widespread recognition when Prime Minister Narendra Modi wore a jacket made
from its recycled PET clothing. PET staple fibers provide a cost-effective
alternative to both natural fibers and other synthetic materials, making them
appealing to manufacturers. Advances in manufacturing processes are also improving
the quality and performance of PET staple fibers, facilitating their adoption
across various industries. These factors collectively establish staple fibers
as a significant segment in the PET resin market.
Based on the region, the South India emerged as the
fastest growing region in the Indian PET Resin market during the forecast
period. South India boasts a robust market for bottled water and soft drinks,
with numerous major beverage brands operating in the area, creating substantial
demand for PET bottles and packaging. The expanding middle class is
contributing to increased spending on packaged foods and beverages, which
drives the demand for PET resin. Rapid urbanization in cities like Bangalore,
Chennai, and Hyderabad is shifting consumer preferences toward convenient and
ready-to-eat packaged products, further enhancing PET demand. Additionally, South India has a well-established
textile industry that increasingly uses PET staple fibers for apparel and home
textiles, diversifying the market for PET resin. There is a strong focus on
eco-friendly practices, as many manufacturers are adopting recycled PET (rPET)
to align with consumer preferences for sustainable products, thereby increasing
the appeal of PET resin. State governments are actively promoting recycling and
sustainability initiatives, encouraging investments in PET manufacturing and
recycling infrastructure, which supports market growth. Moreover, advancements
in PET production technologies are enhancing efficiency and quality, making it
more attractive for manufacturers in the region. Collectively, these factors
drive demand and foster market expansion in South India.
Major companies operating in India PET Resin Market
are:
- Reliance
Industries Limited
- Sumilon
Industries Limited
- IVL
Dhunseri Petrochem Industries Private Limited
- Sparsh
Industries
- JBF
Industries Limited
- Toray
Industries (India) Private Limited
- Eastman Chemical
India Private Limited
- BASF
India Limited
- Chiripal
Poly Films Limited
- Plastiblends
India Limited
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“The Indian PET resin market is witnessing a significant
shift toward the automotive sector, driven by the industry's emphasis on
lightweight materials to enhance fuel efficiency. The strength and durability
of PET resin make it suitable for a range of automotive applications, including
interior components, trims, and under-the-hood parts. As the Indian automotive
market increasingly embraces electric and hybrid vehicles, there is a rising
demand for advanced materials that comply with strict safety and performance
standards. Additionally, manufacturers are looking to incorporate recycled PET
resin to align with sustainability objectives, thereby reducing the
environmental footprint of automotive production. This growing integration
establishes PET resin as a key player in India's evolving automotive landscape,”
said Mr. Karan Chechi, Research Director of TechSci Research, a research-based
management consulting firm.
“India PET Resin Market By Type (Filament, Staple, Chips), By End Use (Food & Beverages Packaging, Films & sheets, Consumer Goods, Fibers, and Others), By Region, Competition, Forecast and Opportunities, 2020-2030F”, has evaluated the future growth potential of India PET
Resin Market and provides statistics & information on market size,
structure and future market growth. The report intends to provide cutting-edge
market intelligence and help decision makers take sound investment decisions.
Besides, the report also identifies and analyzes the emerging trends along with
essential drivers, challenges, and opportunities in India PET Resin Market.
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