Global Polyethylene Terephthalate (PET) Market is Expected to Reach USD 48.4 billion in 2016: Transparency Market Research

Global Polyethylene Terephthalate (PET) Market is Expected to Reach USD 48.4 billion in 2016: Transparency Market Research PR Newswire ALBANY, New York, August 30, 2012 ALBANY, New York, August 30, 2012 /PRNewswire/ -- According to a new market report published by Transparency Market Research (http://www.transparencymarketresearch.com) "Global Polyethylene Terephthalate (PET) Value Chain Market Analysis (Ethylene, PET, PET Packaging) - Industry Analysis, Market Size, Share, Trends, Growth And Forecast, 2010 - 2016", the global PET market was estimated to be worth USD 23.3 billion in 2010 and is expected to reach USD 48.4 billion in 2016, growing at a CAGR of 9.6% from 2011 to 2016. In the overall global market, Asia Pacific is expected to maintain its leading position in terms PET demand over the next five years. Browse the full report athttp://www.transparencymarketresearch.com/pet-polyethylene-terephthalate- and-pet-packaging-market.html Demand for PET is primarily being driven by increasing application in CSD packaging as well as rising consumption of packaged, frozen and other processed foods. Largest PET applications include packaging of CSD and bottled water, alcoholic and hot beverages, sheet/films and food. The PET value chain market has been further segmented under two markets, polyethylene terephthalate (PET) and ethylene. Over the last decade demand PET has increased considerably due to growing demand from food and beverages industry.