Crystalline Polyethylene Terephthalate Market - Forecast(2021 - 2026)
Crystalline Polyethylene Terephthalate Market size is forecast to reach $18.88 billion by 2026, after growing at a CAGR of 9.2% during 2021-2026. It is among the plastics which is most used in present days. It is a very important polymer used in fabric films, packaging, molding the parts of automotive and electronics, making bottles and containers and many others. The growth in the market is due to the increase in the usage of polyethylene terephthalate for various applications in sectors like, food & beverages, pharmaceutical, automotive, and others. COVID-19 Impact The emergence of COVID-19, which is declared a pandemic by the World Health Organization, is having a noticeable impact on global economic growth. Currently the crystalline polyethylene terephthalate market has been affected due to COVID-19 pandemic where most of the industrial activity has been temporarily shut down. According to World Trade Organization (WTO), global trade volumes are projected to decline between 13...