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The global polyethylene naphthalate (PEN) market size reached a value of nearly USD 303.36 million in 2023. The market is projected to grow at a CAGR of 11.2% between 2024 and 2032 and reach around USD 787.77 million by 2032.
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PEN offers oxygen permeability, improved hydrolysis resistance, high heat, temperature resistance, enhanced tensile strength and service temperature, and lower elongation and shrinkage due to its higher glass transition temperature. As a result, PEN outperforms PET in demanding electronics applications, such as electrical insulation, flexible printed circuits, and capacitors in the electronics sector.
Some of the factors driving the polyethylene naphthalate (PEN) market growth are the growing adoption of renewable energy resources and the robust growth of the food packaging sector. PEN-based back sheets for solar panels have high transparency, excellent thermal resistance, long lifetime, high chemical resistance, and good mechanical strength compared to PET. As a result, they find use in solar panel back sheets. In 2022, the global solar power generation increased by a record 270 TWh, a 26% year-on-year surge. Further, solar PV accounted for 4.5% of total global electricity generation.
Regulations for PEN Use in Food Packaging Applications in the USA
Excellent properties of PEN; the thriving electronics sector; growing demand for solar energy; and rising applications of PEN in electric vehicles are favouring the polyethylene naphthalate (PEN) market expansion
August 2021
DuPont Teijin Films announced the re-introduction of Kaladex® polyethylene naphthalate (PEN) high-performance polyester films, which were originally produced at its facility in Dumfries, the United Kingdom.
June 2021
Indorama Ventures Xylenes & PTA, LLC (IVXP) added a new PNDA (Purified 2,6-Naphthalene Dicarboxylic Acid) production line, at IVXP’s integrated manufacturing site in Decatur, Alabama, the United States.
The superior performance of PEN than PET
PEN films offer a higher glass transition temperature, long-term ageing performance at elevated temperatures and better dimensional stability, boosting their demand as an alternative to PET in different applications in sectors like electronics and automotive.
Downstream demand for PEN from the electronics sector
Capacitors are rising in prominence owing to the growing demand for consumer goods, such as smartphones, laptops, tablets, smart TVs, wearable technology, and IoT products, driving the market expansion.
Growing demand for PEN from the food packaging sector
PEN films are widely used for flexible food packaging as they add durability and strength to food and beverage packages.
Growing demand for solar energy
When compared to PET, PEN-based back sheets have superior mechanical strength, high chemical resistance, extended lifetime, and excellent transparency. As a result, they are used in solar panel back sheets.
Rising adoption of EV
PEN is increasingly being used to manufacture lightweight automotive components for improved fuel efficiency. The expanding demand for EVs necessitates the need for PEN.
Many notable consumer-packaged-goods companies such as Nestlé S.A. and The Kraft Heinz Company are committed to reducing their packaging waste and increasing recyclability in packaging. This key trend favours the demand for esters such as PEN in the packaging sector due to their property of recyclability.
Furthermore, the PEN demand from the automotive sector is surging due to expanding EV demand. In 2022, the global electric car market witnessed exponential growth, with sales exceeding 10 million. In March 2023, the EU adopted new CO2 standards for cars and vans calling for a 55% and 50% reduction in emissions of new cars and vans by 2030 as compared to 2021, and 100% for both vehicles by 2035. Such regulations are expected to favour the polyethylene naphthalate (PEN) market expansion in the coming years.
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Global Polyethylene Naphthalate (PEN) Market Report and Forecast 2024-2032 offers a detailed analysis of the market based on the following segments:
Market Breakup by Type:
Market Breakup by Application:
Market Breakup by Region:
PEN film is expected to dominate the polyethylene naphthalate (PEN) share due to its increased use in isolation transformers and magnetic tapes.
PEN film offers high rigidity, dimensional stability, and electrical insulation. As a result, there is a rising demand for PEN film in various applications, including flexible printed circuits, solar and photovoltaic cells, automotive, flexible heaters, electronic components like capacitors and electrical insulation, batteries, and optical applications.
Besides, PEN fibres exhibit greater initial stiffness, making them an appealing alternative for various applications, including mooring ropes and more.
Meanwhile, PEN resins are crystallised, making it easier to shape transparent moulded products. As a result, these are widely used in bottles. They offer advantages like moisture barrier, gas barrier, heat resistance, and UV ray absorption, and are particularly suitable for components demanding transparency, heat resistance, or chemical resistance. As a result, they find applications in cosmetic packaging, tableware, medical product containers, and additives to enhance the performance of PET.
Major players in the polyethylene naphthalate (PEN) market are increasing their collaboration, partnership, and research and development activities to gain a competitive edge
Indorama Ventures Public Company Limited
Indorama Ventures, headquartered in Thailand and founded in 1994, offers products, including PEN, NDC, PNDA, PENCo, PBN and PTN, among others.
DuPont Teijin Films Ltd. (Toyobo Co. Ltd.)
DuPont Teijin, headquartered in the United States and founded in 2000, is a global market leader in the chemical sector. The company provides PEN polyester films, including Kaladex® polyester films, for electrical applications such as capacitors, wires, cables, and motors.
Kolon Plastics Inc.
Kolon Plastics Inc., headquartered in South Korea and founded in 1996, offers polyethylene naphthalate products under the brand NOPLA®-PEN-PET, a transparent material commercialised as PEN-PET copolyester.
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The Asia Pacific accounts for a major market share due to government initiatives aimed at promoting the expansion of the chemical sector. Initiatives such as the 14th Five Year Plan in China for the development of the chemical fibre sector support the production and adoption of PEN. China is the largest producer and consumer of ethylene glycol, globally which is a key raw material for PEN production.
The Europe polyethylene naphthalate (PEN) market is driven by the growing need for sturdy packaging. The packaging sector accounts for about 40% of Europe's plastic production. PEN's attributes like shrinkage resistance, dimensional stability, superior barrier qualities, and heat resilience make it a favoured barrier material.
Meanwhile, North America holds a growing PEN market share, driven by the rapid growth of the food packaging sector. Due to its lightweight nature and recyclability, as well as the ability to reduce oxidation of food, PEN is witnessing a rise in popularity as a favoured material for food and beverage packaging.
REPORT FEATURES | DETAILS |
Base Year | 2023 |
Historical Period | 2018-2023 |
Forecast Period | 2024-2032 |
Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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Breakup by Type |
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Breakup by Application |
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Breakup by Region |
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Market Dynamics |
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Competitive Landscape |
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Companies Covered |
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Report Price and Purchase Option | Explore our purchase options that are best suited to your resources and industry needs. |
Delivery Format | Delivered as an attached PDF and Excel through email, with an option of receiving an editable PPT, according to the purchase option. |
*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.
1 Preface
2 Report Coverage – Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Market Snapshot
6.1 Global
6.2 Regional
7 Opportunities and Challenges in the Market
8 Global Polyethylene Naphthalate (PEN) Market Analysis
8.1 Key Industry Highlights
8.2 Global Polyethylene Naphthalate (PEN) Historical Market (2018-2023)
8.3 Global Polyethylene Naphthalate (PEN) Market Forecast (2024-2032)
8.4 Global Polyethylene Naphthalate (PEN) Market by Type
8.4.1 Film
8.4.1.1 Historical Trend (2018-2023)
8.4.1.2 Forecast Trend (2024-2032)
8.4.2 Fibre
8.4.2.1 Historical Trend (2018-2023)
8.4.2.2 Forecast Trend (2024-2032)
8.4.3 Resin
8.4.3.1 Historical Trend (2018-2023)
8.4.3.2 Forecast Trend (2024-2032)
8.5 Global Polyethylene Naphthalate (PEN) Market by Application
8.5.1 Beverage Bottles
8.5.1.1 Historical Trend (2018-2023)
8.5.1.2 Forecast Trend (2024-2032)
8.5.2 Food Packaging
8.5.2.1 Historical Trend (2018-2023)
8.5.2.2 Forecast Trend (2024-2032)
8.5.3 Electronic Goods
8.5.3.1 Historical Trend (2018-2023)
8.5.3.2 Forecast Trend (2024-2032)
8.5.4 Rubber Tyres
8.5.4.1 Historical Trend (2018-2023)
8.5.4.2 Forecast Trend (2024-2032)
8.5.5 Textiles
8.5.5.1 Historical Trend (2018-2023)
8.5.5.2 Forecast Trend (2024-2032)
8.5.6 Others
8.6 Global Polyethylene Naphthalate (PEN) Market by Region
8.6.1 North America
8.6.1.1 Historical Trend (2018-2023)
8.6.1.2 Forecast Trend (2024-2032)
8.6.2 Europe
8.6.2.1 Historical Trend (2018-2023)
8.6.2.2 Forecast Trend (2024-2032)
8.6.3 Asia Pacific
8.6.3.1 Historical Trend (2018-2023)
8.6.3.2 Forecast Trend (2024-2032)
8.6.4 Rest of the World
9 North America Polyethylene Naphthalate (PEN) Market Analysis
9.1 United States of America
9.1.1 Historical Trend (2018-2023)
9.1.2 Forecast Trend (2024-2032)
9.2 Canada
9.2.1 Historical Trend (2018-2023)
9.2.2 Forecast Trend (2024-2032)
10 Europe Polyethylene Naphthalate (PEN) Market Analysis
10.1 Spain
10.1.1 Historical Trend (2018-2023)
10.1.2 Forecast Trend (2024-2032)
10.2 Germany
10.2.1 Historical Trend (2018-2023)
10.2.2 Forecast Trend (2024-2032)
10.3 France
10.3.1 Historical Trend (2018-2023)
10.3.2 Forecast Trend (2024-2032)
10.4 Belgium
10.4.1 Historical Trend (2018-2023)
10.4.2 Forecast Trend (2024-2032)
10.5 Others
11 Asia Pacific Polyethylene Naphthalate (PEN) Market Analysis
11.1 China
11.1.1 Historical Trend (2018-2023)
11.1.2 Forecast Trend (2024-2032)
11.2 Japan
11.2.1 Historical Trend (2018-2023)
11.2.2 Forecast Trend (2024-2032)
11.3 India
11.3.1 Historical Trend (2018-2023)
11.3.2 Forecast Trend (2024-2032)
11.4 Vietnam
11.4.1 Historical Trend (2018-2023)
11.4.2 Forecast Trend (2024-2032)
11.5 Others
12 Market Dynamics
12.1 SWOT Analysis
12.1.1 Strengths
12.1.2 Weaknesses
12.1.3 Opportunities
12.1.4 Threats
12.2. Porter’s Five Forces Analysis
12.2.1 Supplier’s Power
12.2.2 Buyer’s Power
12.2.3 Threat of New Entrants
12.2.4 Degree of Rivalry
12.2.5 Threat of Substitutes
12.3 Key Indicators for Demand
12.4 Key Indicators for Price
13 Price Analysis
14 Manufacturing Process
14.1 Overview
14.2 Detailed Process Flow
14.3 Unit Operations Involved
15 Competitive Landscape
15.1 Market Structure
15.2 Global Polyethylene Naphthalate (PEN) Raw Material Manufacturers
15.3 Production Capacity of Leading Global Polyethylene Naphthalate (PEN) Manufacturers
15.4 Company Profiles
15.4.1 Indorama Ventures Public Company Limited
15.4.1.1 Company Overview
15.4.1.2 Product Portfolio
15.4.1.3 Demographic Reach and Achievements
15.4.1.4 Certifications
15.4.2 DuPont Teijin Films Ltd. (Toyobo Co. Ltd.)
15.4.2.1 Company Overview
15.4.2.2 Product Portfolio
15.4.2.3 Demographic Reach and Achievements
15.4.2.4 Certifications
15.4.3 Kolon Plastics Inc.
15.4.3.1 Company Overview
15.4.3.2 Product Portfolio
15.4.3.3 Demographic Reach and Achievements
15.4.3.4 Certifications
15.4.4 Others
16 Key Trends and Developments in the Market
Additional Customisations Available
1 Project Requirement and Cost Analysis
1.1 Land, Location, and Site Development
1.2 Construction
1.3 Plant Machinery
1.4 Cost of Raw Material
1.5 Packaging
1.6 Transportation
1.7 Utilities
1.8 Manpower
1.9 Other Capital Investment
List of Key Figures and Tables
1. Global Polyethylene Naphthalate (PEN) Market: Key Industry Highlights, 2018 and 2032
2. Global Polyethylene Naphthalate (PEN) Historical Market: Breakup by Type (USD Billion), 2018-2023
3. Global Polyethylene Naphthalate (PEN) Market Forecast: Breakup by Type (USD Billion), 2024-2032
4. Global Polyethylene Naphthalate (PEN) Historical Market: Breakup by Application (USD Billion), 2018-2023
5. Global Polyethylene Naphthalate (PEN) Market Forecast: Breakup by Application (USD Billion), 2024-2032
6. Global Polyethylene Naphthalate (PEN) Historical Market: Breakup by Region (USD Billion), 2018-2023
7. Global Polyethylene Naphthalate (PEN) Market Forecast: Breakup by Region (USD Billion), 2024-2032
8. North America Polyethylene Naphthalate (PEN) Historical Market: Breakup by Country (USD Billion), 2018-2023
9. North America Polyethylene Naphthalate (PEN) Market Forecast: Breakup by Country (USD Billion), 2024-2032
10. Europe Polyethylene Naphthalate (PEN) Historical Market: Breakup by Country (USD Billion), 2018-2023
11. Europe Polyethylene Naphthalate (PEN) Market Forecast: Breakup by Country (USD Billion), 2024-2032
12. Asia Pacific Polyethylene Naphthalate (PEN) Historical Market: Breakup by Country (USD Billion), 2018-2023
13. Asia Pacific Polyethylene Naphthalate (PEN) Market Forecast: Breakup by Country (USD Billion), 2024-2032
14. Global Polyethylene Naphthalate (PEN) Market Structure
In 2023, the market value was nearly USD 303.36 Million.
The market is projected to grow at a CAGR of 11.2% between 2024 and 2032.
The market is estimated to witness a healthy growth in the forecast period of 2024-2032 to reach USD 787.77 million by 2032.
The major drivers include the superior performance of PEN over PET and downstream demand for PEN from the electronics, automotive and food packaging sectors.
The key trends include the growing adoption of solar energy systems and the growing application of PEN in EV production.
The different types of PEN include film, fibre, and resin.
The major applications of polyethylene naphthalate (PEN) include beverage bottles, food packaging, electronic goods, rubber tyres, and textiles, among others.
The major players in the market include Indorama Ventures Public Company Limited, DuPont Teijin Films Ltd. (Toyobo Co. Ltd.), and Kolon Plastics Inc.
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