Polyethylene Naphthalate (PEN) Market Analysis

Polyethylene Naphthalate Market Analysis

Packaging applications segment in polyethylene naphthalate market may surpass $640 million by the end of 2024. These products are used for food packaging applications as they provide high barrier properties and are less permeable to water vapor and oxygen. Additionally, they reduce oxidation effects in containers making them 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 from 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 share from electronics applications may witness gains at over 7% through the 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 their dielectric insulating properties.
 

North America 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 them ideal for refillable bottles.
 

Moreover, improved mechanical properties, lightweight and lower production cycle times are expected to enhance market growth. Increasing consumption of carbonated beverages and beer owing to easy availability and urbanization may promote the polyethylene naphthalate market outlook.
 

Europe led by UK, France, and Germany 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 tires 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 the polyethylene naphthalate market.
 

Asia Pacific led by China, Japan and India may witness significant gains at above 8% by the end of forecast period. Shifting consumer preference 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 the polyethylene naphthalate market trends.