THAILAND POLYETHYLENE TEREPHTHALATE (PET) MARKET

Thailand Polyethylene Terephthalate (PET) market is estimated to grow at a robust CAGR of 4.1% till 2032, due to rising income levels along with a surge in need for PET bottles in the beverage packaging sector.

Major Market Drivers and Emerging Trends

Thailand has observed significant social and economic growth in the past forty years along with substantial progress in reducing poverty. The middle class is expanding along with a rise in disposable income which results in increased spending on consumer goods. The continued migration from rural regions to urban centers is further anticipated to drive higher expenditures on food and beverages along with personal care items. The increasing ecommerce popularity and the rising consumer inclination towards packaged goods are also contributing to the PET market growth.

The other factor supporting Thailand PET market size growth is the surge in bottled water demand. Higher income and rising concerns about water safety are fueling the bottled water demand in Thailand. The growing middle class further drives the demand particularly for premium water products with high quality. Bottled water demand is also boosted by tourism with high visitor traffic especially in cities and popular tourist destinations. Tap water in Thailand is unsafe for drinking in any location with sealed bottled water from stores remains the only safe option. The tap water in Thailand is contaminated with additives like heavy metals which makes it unfit for consumption. Since tap water is unsafe to drink, the low cost and broad accessibility to bottled water drives the PET market growth.

The market is further being affected by strict policies on single use plastics as the Thai government has recognized the serious environmental impact of plastic waste. The plan is to decrease plastic consumption and replace it with more sustainable materials while ensuring that in 2027 all plastic waste is reusable. PET is fully recyclable which makes it a material in high demand as it supports the government’s recycling efforts.

Based on type, the PET market in Thailand can be divided into recycled and virgin plastic. Recycled plastics in the country are often of low quality mainly because of improper trash separation which leads to contamination by other trash. Converting used PET items into new packaging through efficient collection and processing is a crucial opportunity to reduce dependence on virgin resources while minimizing waste. With the ban on recycled materials in food packaging removed, domestic need for recycled plastics could grow even more. However, recycled plastics are generally more expensive with prices being 10 to 20% higher in comparison to virgin plastics that can pose a challenge to their widespread use. Furthermore, many consumers and manufacturing companies especially SMEs lack awareness about circularity or substitutes for virgin plastics.

Based on application, packaging dominates the market. The lightweight nature and recyclability of PET make it the popular option for packaging beverages and personal care items. Its superior barrier qualities safeguard the contents and keeping carbonation in sodas. This also keeps nutrients in juices and color in condiments like ketchup. Essentially, it preserves product quality and ensures they remain on shelves and not in the waste bin. Producing PET packaging uses fewer natural resources and less energy in comparison to glass including water and fossil fuels. The growing recognition among consumers about the environmental advantages related to environmentally friendly packaging has led to a widespread shift toward sustainable packaging options. PET’s recyclability and circularity potential have made it a fundamental resin in the development of sustainable packaging solutions.

Top Market Players

Several notable players in the market include Indorama Ventures, Amcor, ALPLA Group, Union Thai Polyplast, among others.

Key Developments

• • In 2024 Indorama Ventures which is a major market player in Bangkok has secured a USD 200 million loan for seven years from the IFC. The funding will be used to implement various initiatives including improving operations at its recycling plants in Thailand along with setting up new recycling facilities in India.
  • In 2023 Suntory PepsiCo Beverage leads the way in Thailand as the leading soft drink brand to use bottles made entirely from rPET.

Segments covered in the Report:

Thailand Polyethylene Terephthalate (PET) Market has been segmented on the basis of Type and Application. Based on the Type, the market is segmented into Virgin and Recycled. Based on the Application, the market is segmented into Packaging, Automotive, Construction, Medical, and Others.

Market Segmentation

Thailand Polyethylene Terephthalate (PET) Market by Type

• • Virgin
  • Recycled

Thailand Polyethylene Terephthalate (PET) Market by Application

• • Packaging
  • Automotive
  • Construction
  • Medical
  • Others

Thailand Polyethylene Terephthalate (PET) Market Leading players (Option 1: Free 25% Customization – Profiles of 5 Additional Companies of your Choice)

• • Indorama Ventures
  • Amcor
  • ALPLA Group
  • Union Thai Polyplast