The North American and European markets are also growing, driven by the increasing demand for sustainable packaging solutions and consumer goods made from PET. In addition, the growing demand for textiles made from PET fiber is also supporting the growth of the Polyethylene Terephthalate Market in these regions.
The PET market is highly competitive, with a large number of companies operating in the industry. Key players in the market include Indorama Ventures, SABIC, Borealis AG, and Eastman Chemical Company. These companies are investing in research and development to develop new products and improve the production processes, which is driving the growth of the market.
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