Polyethylene Naphthalate (PEN) Market Size, Share, Trends, Forecast, & Growth Analysis
The polyethylene naphthalate (PEN) market was estimated at USD 1.16 billion in 2022 and is likely to grow at a CAGR of 8.04% during 2023-2028 to reach USD 1.87 billion in 2028.
Market Drivers
The surge in demand for packaged food & beverages owing to changing lifestyles, hectic schedules, and increasing disposable incomes may boost the market growth. The growth in demand for frozen and processed foods along with carbonated soft drinks, especially in China, India, and the U.S. is expected to drive the market for polyethylene naphthalate during the forecast period.