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The polyethylene naphthalate (PEN) industry is being driven by the rising demand from the packaging sector, where it helps in extending the shelf life of food products by decreasing oxidation rates. With consumers increasingly relying on packaged food due to their increasingly busier lifestyles and expanding disposable incomes, the PEN market is expected to continue to witness a healthy growth within the packaging sector. The market is being further aided by the rising demand for the product in the automotive industry, due to the factors like polyethylene naphthalate’s superior resistance to UV rays, improved mechanical properties, and high moisture barrier.
North America, Europe, and the Asia Pacific are the significant regions for the PEN market. In North America, the healthy growth of the automotive industry and growing R&D activities have supported the market growth. The regional market is also being driven by its extensive food and beverage industry and the expanding electronics industry. Meanwhile, in Europe, the presence of a robust automotive sector and the rising demand for high-performance sailcloth are propelling the industry forward. In the coming years, the Asia Pacific is also expected to present lucrative growth opportunities for the industry due to the rising disposable incomes and the rapid growth of the manufacturing sector, with governments in the region increasingly focussing on domestic manufacturing. The growing penetration of global e-commerce players like Amazon.com (NASDAQ: AMZN), along with the rise of local players like Flipkart, Snapdeal, JD.com, and Tmall, among others, are furthering the polyethylene naphthalate (PEN) growth. The rise of the e-commerce websites is adding to the market growth as these platforms offer lucrative deals on consumer electronics, leading to an increase in the sales of electronic goods, a major application segment of polyethylene naphthalate (PEN).
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Dupont Teijin Films U.S. Limited, SASA Polyester Sanayi A.?., and Teijin Limited, among others, are the key players in the global polyethylene naphthalate (PEN) market. The EMR report looks into the capacity, market share, and latest developments of these major players like plant turnarounds, mergers and acquisitions, and capacity expansions.
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