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Polyethylene Naphthalate (PEN) Market

Global Polyethylene Naphthalate (PEN) Market Share, Analysis: By Type: Film, Fibre, Resin; By Application: Beverage Bottles, Food Packaging, Electronic Goods, Rubber Tyres, Textiles, Others; Regional Analysis; Market Dynamics: SWOT Analysis, Porter’s Five Forces Analysis; Competitive Landscape; Industry Events and Developments; 2024-2032

Global Polyethylene Naphthalate (PEN) Market Outlook

The global polyethylene naphthalate (PEN) market reached a value of about USD 303.36 million in 2023. The market is further expected to grow at a CAGR of 11.2% in the forecast period of 2024-2032 to reach a value of approximately USD 785.78 million by 2032. The market is driven by the increasing demand for consumer electronics, such as laptops, tablets, smartphones, and desktops. 

 

Polyethylene Naphthalate (PEN) Market

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The versatility of PEN (Polyethylene Naphthalate) and its Recyclability Create Prospects for Growth Across Multiple Sectors

Naphthalene-2,6-dicarboxylic acid and ethylene glycol are the raw materials for polyethylene naphthalate (PEN), a semi-aromatic, transparent polyester. Compared to Polyethylene Terephthalate (PET), it has lower oxygen permeability, improved hydrolysis resistance, high heat and 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. Capacitors are increasingly becoming essential in power management, energy storage, and voltage regulation, thereby supporting the downstream demand of PEN in the electronics sector. Additionally, PEN is also a lower-cost alternative to polyimides, with performance between polyester and high-performance polyimides.

The rising demand for ready-to-cook meals, driven by consumers' busy lifestyles and shifting dietary habits, expands the demand for packaged foods. In the food packaging sector, PEN is rising in popularity as a packaging material as it reduces the permeability of gases, flavour, and vapour in or out of containers. Further, PEN films are widely used for flexible food packaging as they add durability and strength to the package. Due to its outstanding gas barrier characteristics, PEN finds application in bottle production, particularly for beer and carbonated beverages. It effectively blocks oxygen, thereby extending the shelf life and preserving the flavor of the beverage.

In 2023, 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. PEN-based back sheets for solar panels have high transparency, higher thermal resistance and long lifetime, high chemical resistance, and good mechanical strength compared to PET. As a result, it finds use in solar panel back sheets.

 

 

Polyethylene Naphthalate (PEN): Market Segmentation

Polyethylene naphthalate (PEN) is a polyester derived from naphthalene-2,6-dicarboxylic acid and ethylene glycol. As such, it is similar to poly(ethylene terephthalate), but with superior barrier properties.

Based on type, the market is divided into:

  • Film
  • Fibre
  • Resin

On the basis of application, the industry is categorised into:

  • Beverage Bottles
  • Food Packaging
  • Electronic Goods
  • Rubber Tyres
  • Textiles
  • Others

The regional markets for the product include North America, Europe, the Asia Pacific, and Rest of the World.

 

Polyethylene Naphthalate (PEN) Market by Application

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Rising Demand from Electronics Sector to Support the Polyethylene Naphthalate (PEN) Market

The polyethylene naphthalate (PEN) market is driven by the rising demand for electronic goods. The downstream demand for PEN from electronics sector is expected to grow with the highest CAGR of 11.5% during 2024-2032. In 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. Since PEN displays enhanced dielectric capabilities owing to its crystalline molecular structure that is created by appropriately aligning the substance during formation, it finds use in capacitor production.

 

Polyethylene Naphthalate (PEN) Market by Region

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Key Industry Players in the Global Polyethylene Naphthalate (PEN) Market

The report gives a detailed analysis of the following key players in the global polyethylene naphthalate (PEN) market, covering their competitive landscape, capacity, and latest developments like mergers, acquisitions, and investments, expansions of capacity, and plant turnarounds:

  • Indorama Ventures Public Company Limited
  • Kolon Plastics Inc.
  • DuPont Teijin Films Ltd.
  • Others

The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis.

 

Key Highlights of the Report

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:

  • Type
  • Application
  • Region
Breakup by Type
  • Film
  • Fibre
  • Resin
Breakup by Application
  • Beverage Bottles
  • Food Packaging
  • Electronic Goods
  • Rubber Tyres
  • Textiles
  • Others
Breakup by Region
  • North America
    • United States of America 
    • Canada
  • Europe
    • United Kingdom
    • Germany
    • France
    • Italy
    • Others
  • Asia Pacific
    • China
    • Japan
    • India
    • ASEAN
    • Australia
    • Others
  • Latin America
    • Brazil
    • Argentina
    • Mexico
    • Others
  • Middle East and Africa
    • Saudi Arabia
    • United Arab Emirates
    • Nigeria
    • South Africa
    • Others
Market Dynamics
  • SWOT Analysis
  • Porter's Five Forces Analysis
  • Key Indicators for Demand
  • Key Indicators for Price
Competitive Landscape
  • Market Structure
  • Company Profiles
    • Company Overview
    • Product Portfolio
    • Demographic Reach and Achievements
    • Certifications
Companies Covered
  • Indorama Ventures Public Company Limited
  • DuPont Teijin Films Ltd.
  • Kolon Plastics Inc.
  • Others
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   
    8.9    Global Polyethylene Naphthalate (PEN) Market by Region
        8.9.1    North America
            8.9.1.1    Historical Trend (2018-2023) 
            8.9.1.2    Forecast Trend (2024-2032)
        8.9.2    Europe
            8.9.2.1    Historical Trend (2018-2023) 
            8.9.2.2    Forecast Trend (2024-2032)
        8.9.3    Asia Pacific
            8.9.3.1    Historical Trend (2018-2023) 
            8.9.3.2    Forecast Trend (2024-2032)
        8.9.4    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.
            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

Key Questions Answered in the Report

In 2023, the market attained a value of 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 about USD 785.78 million by 2032.

The market is being driven by the rising disposable incomes, the increasing demand for consumer electronics, and the growing demand for polyethylene naphthalate (PEN) from packaging, beverage bottling, automotive tyres, and electronics sectors.

The growing utilisation of polyethylene naphthalate (PEN) in pressure-sensitive tapes and the rising demand for polyethylene naphthalate (PEN) in the automotive sector owing to its favourable properties are the key trends aiding the market.

The major regions in the market are North America, Latin America, the Middle East and Africa, Europe, and the Asia Pacific.

The leading types of polyethylene naphthalate (PEN) include Film, Fibre and Resin.

The various applications of polyethylene naphthalate (PEN) include beverage bottles, food packaging, electronic goods, rubber tyres, and textiles, among others.

The major players in the market are Indorama Ventures Public Company Limited, Kolon Plastics Inc., DuPont Teijin Films Ltd., among others.

Analyst Review

The global polyethylene naphthalate (PEN) market attained a value of USD 303.36 million in 2023, driven by the rising demand for consumer electronics. Aided by the growing demand from the emerging regions, the market is expected to witness a further growth in the forecast period of 2024-2032, growing at a CAGR of 11.2%. The market is projected to reach USD 785.78 million by 2032.

EMR's meticulous research methodology delves deep into the market, covering the macro and micro aspects of the industry. On the basis of type, the market is segmented into film, fibre, and resin. Based on application, the market is divided into beverage bottles, food packaging, electronic goods, rubber tyres, and textiles, among others. The major regional markets for polyethylene naphthalate (PEN)are North America, Europe, Asia Pacific, and rest of the world. The key players in the above market include  Indorama Ventures Public Company Limited, Kolon Plastics Inc., DuPont Teijin Films Ltd., among others.

EMR's research methodology uses a combination of cutting-edge analytical tools and the expertise of their highly accomplished team, thus, providing their customers with market insights that are accurate, actionable, and help them remain ahead of their competition.

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