Global Polyethylene Terephthalate (PET) and Polybutylene Terephthalate (PBT) Resins market share 2024, Forecast To 2033

The polyethylene terephthalate (PET) and polybutylene terephthalate (PBT) resins market has experienced rapid growth, surging from $44.17 billion in 2023 to $48.93 billion in 2024, demonstrating a compound annual growth rate (CAGR) of 10.8% in the historical period. This growth is attributed to the expansion of the packaging and bottling industries, the demand for lightweight and recyclable materials, the expansion of the automotive and electrical sectors, the development of high-performance resins, and regulatory standards for material safety. Looking forward to 2028, the market is expected to experience rapid growth, projecting a size of $73.47 billion with a CAGR of 10.7%. The drivers of this growth include sustainable and eco-friendly resin formulations, the growth in electric vehicle production, the customization of resin solutions for specific applications, the demand for impact-resistant and flame-retardant resins, and the expansion in renewable energy applications. Major trends in the forecast period encompass bio-based and biodegradable PET and PBT resins, regulatory compliance in resin safety, nanocomposite and reinforced resin materials, smart and self-healing resin technologies, and circular economy practices in resin production.