Polyethylene Naphthalate (PEN) Market Size by Application (Beverage Bottling, Packaging, Electronics, Automotive Tyres), Industry Analysis Report, Regional Outlook (U.S., Canada, Mexico, Germany, UK, France, Italy, Russia, Spain, Russia, Poland, China, Japan, India, South Korea, Australia, Malaysia, Thailand, Indonesia, Brazil, Argentina, Saudi Arabia, South Africa, UAE), Application Potential, Price Trends, Competitive Market Share & Forecast, 2018 – 2024

Published Date: Dec 2018 | Report ID: GMI3068 | Authors: Kunal Ahuja, Shreya Deb Report Format: PDF

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Summary Table of Contents Industry Coverage Methodology

Industry Trends

Polyethylene Naphthalate (PEN) Market size was worth over USD 1 billion in 2017 and industry expects consumption at over 380 kilo tons by 2024.

U.S. Polyethylene Naphthalate Market Size, By Application, 2017 & 2024, (Kilo Tons)
U.S. Polyethylene Naphthalate Market Size, By Application, 2017 & 2024, (Kilo Tons)

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Rising demand for packaged food & beverages on account of changing lifestyle patterns, hectic schedules and rising disposable incomes may stimulate market growth. Furthermore, rising demand for carbonated soft drinks, frozen and processed foods mainly in China, India and U.S. is likely to enhance polyethylene naphthalate (PEN) market demand. These resins are highly used in the production of films used for packaging purposes along with electronics and automotive tyres.

Polyethylene naphthalate pellets and films are used for the electrical, imaging, thermal sheets, pressure sensitive tapes and solar cell protection. Global consumer electronics industry may surpass USD 1.5 trillion by 2024 owing to rapid adoption of smartphones, computers & wearable electronic devices and technological advancements along with heavy spending in specialised appliances. These products are highly used in electronic components such as batteries, capacitors, insulation, semiconductors, magnetic storage tapes and for optical purposes further boosting market demand.

Polyethylene naphthalate products provide various superior properties such as heat resistance, low oligomer extraction, strength and dimensional stability. Additionally, these products exhibit better barrier properties and shrinkage resistance making it highly suitable for packaging applications. Recent introduction of polyethylene naphthalate beer bottles by the Norway's Association of Brewers and Soft Drink Producers may positively impact market growth. More than 5 million new PEN based bottles are in circulation which is expected to increase at a fast pace owing to its high barrier properties, prolonged shelf life and ability to withstand high temperature washes. Moreover, increasing consumer preferences towards shatter proof and light weight beer and juice bottles may further support market growth.

Major raw materials used in the manufacturing of these resins are ethylene glycol and naphthalene-2,6-dicarboxylic acid. Polyethylene naphthalate polyesters are generally manufactured by polycondensation of these raw materials following an acid or ester process. High manufacturing costs and limited availability of 2,6-NDC feedstock may hamper market growth. However, increasing availability of monomers for PEN at huge scale and minimised costs may provide various opportunities for industry growth.


Polyethylene Naphthalate Market, By Application

Polyethylene naphthalate market size from packaging applications may surpass USD 640 million by the end of 2024. These products are used for food packaging applications as it provides high barrier properties and less permeable to water vapor and oxygen. Additionally, reduces oxidation effects in containers making it ideal for food preservation purposes. These resins are used to manufacture pellets and films which are thin, flexible and durable thereby preventing chemical gases and moisture form entering the packaged food products.  The product reduces the number of required layers thereby enabling simplification of packaging structure along with reducing overall packaging costs.

Polyethylene naphthalate market size from electronics applications may witness gains at over 7% by the end of forecast period. These resins are used in the manufacturing of capacitors and magnetic storage devices including USB’s and for coating application in flexible electrical circuit boards. Additionally, these are highly being used for barrier and electrical insulation applications along with imaging and photography prospects pertaining to its dielectric insulating properties.

Polyethylene Naphthalate Market, By Region

North America polyethylene naphthalate (PEN) market size led by U.S., Canada and Mexico may surpass USD 520 million up to 2024. The material provides superior resistance to UV rays, high mechanical properties and strength along with 4 to 5 times oxygen and moisture barrier properties. They have high chemical resistance along with ability to withstand extreme temperatures making it ideal for refillable bottles. Moreover, improved mechanical properties, lightweight and lower production cycle times is expected to enhance market growth. Increasing consumption of carbonated beverages and beer owing to easy availability and urbanization may promote regional growth.

Europe led by UK, France, and Germany polyethylene naphthalate market demand was valued at over USD 250 million in 2017. These resins are used in producing high performance sailcloth and laminating sail on boats thereby providing high resistance from sunlight. Also, the usage of PEN films provides 10% reduction in sail weight and UV resistance as compared to PET films. These products are used in the manufacturing of tyres majorly in high end cars thereby reducing road noise up to 30 percent. Rising automobile production and presence of various manufacturers such as BMW, Audi and Mercedes in the region along with rising exports of passenger vehicles may enhance market growth.

Asia Pacific polyethylene naphthalate market size led by China, Japan and India may witness significant gains at above 8% by the end of forecast period. Shifting consumer towards packaged food & beverages majorly chocolates, confectionary, baked goods, frozen foods, yogurt and carbonated drinks owing to growing inclination towards fast food and rising working population may positively influence regional market growth. 

Polyethylene Naphthalate Competitive Market Share

Global polyethylene naphthalate market share is highly competitive and consolidated among major industry participants including Teijin DuPont, SASA, Sumitomo Chemicals, Toray Industries, Seiwa Inc., and DuraFiber Technologies. Producers are highly focusing on product launches and innovations along with high spending in research for making this product available at lower costs. Additionally, they are engaging in partnerships and joint ventures to enhance product portfolio and regional reach thereby supporting polyethylene naphthalate market growth.

Polyethylene Naphthalate Industry Background

Polyethylene Naphthalate (PEN) Market Segmentation

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Polyethylene naphthalate are polyesters derived from polycondensation of ethylene glycol and naphthalene-2,6-dicarboxylic acid. These are manufactured using ester or acid process further used in applications mainly packaging and electronics. These resins are further produced in making films and fibres providing high temperature resistance and low permeability. Manufacturers are heavily experimenting with these products for incorporation in carbonated, non-carbonated and packaging containers as it a niche material providing huge benefits.

What Information does this report contain?

Historical data coverage: 2013 to 2017; Growth Projections: 2018 to 2024.
Expert analysis: industry, governing, innovation and technological trends; factors impacting development; drawbacks, SWOT.
6-7 year performance forecasts: major segments covering applications, top products and geographies.
Competitive landscape reporting: market leaders and important players, competencies and capacities of these companies in terms of production as well as sustainability and prospects.

Premium Report: Details

Pages: 150
Tables: 108
Charts / Figures: 23
Companies covered: 10
Countries covered: 24

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