According to a new report by Expert Market Research, ‘Global Polyethylene Naphthalate (PEN) Market Report and Forecast 2020-2025’, the global polyethylene naphthalate market size was valued at USD 827.0 million in 2019 and is expected to expand at a CAGR of 7.5% over the forecast period.

Competitive Landscape & Supplier Analysis:

Dupont Teijin Films U.S. Limited
SASA Polyester Sanayi A.?. (IST: SASA)
Teijin Limited (TYO: 3401)
Others
Polyethylene Naphthalate (PEN) is mainly used in packaging applications owing to its improved thermal and barrier properties, such as resistance to oxidation. Growing demand for high strength photographic films is expected to fuel market growth over the forecast period.

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The application of polyethylene naphthalate is seen in packaging, beverage bottling, electronics, and automotive tyres. Among these, the demand for polyethylene naphthalate is expected to be high in packaging as it helps in reducing oxidation and increasing shelf life until food is finally consumed. It also provides high shrinkage resistance, high temperature properties, superior barrier properties, and dimensional stability. In addition, polyethylene naphthalate provides heat resistance, low oligomer extraction, anti-hydrolysis, and strengthen which has boosted its demand in electronics industry.

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Major raw materials used in the manufacturing of these resins are ethylene glycol and naphthalene-2,6-dicarboxylic acid. Polyethylene naphthalate polyesters are generally manufactured by polycondensation of these raw materials following an acid or ester process. High manufacturing costs and limited availability of 2,6-NDC feedstock may hamper market growth. However, increasing availability of monomers for PEN at huge scale and minimised costs may provide various opportunities for polyethylene naphthalate market players.

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