The global polyethylene terephthalate (PET) capacity is to grow over the next five years, potentially increasing from 30.47 million tonnes per annum (mtpa) in 2019 to 35.28 mtpa in 2024, registering a total growth of 16%.

Among the regions, the Middle East leads the capacity additions and the region’s polyethylene terephthalate capacity is expected to increase from 3.52 mtpa in 2019 to 4.95 mtpa in 2024, at an average annual growth rate (AAGR) of 6.8%. In Asia, polyethylene terephthalate capacity is expected to increase from 15.79 mtpa in 2019 to 17.79 mtpa in 2024, at an AAGR of 2.4%, says GlobalData, a leading data and analytics company.