Market Dynamics
The Swedish PAEK market outlook from 2018 to 2032 looks very positive. The Swedish PET market is expected to grow steadily over the long term. Demand for PET in Sweden is driven by the food and beverage, electrical, automotive and other industries. Increases in consumer spending and economic growth are expected to continue driving increased demand for PET over the forecast period. In addition, as manufactures of PET products in Sweden continue to become increasingly specialized and efficient, growth in the Swedish PET market can be expected to continue. The PET value chain in Sweden consists of suppliers, converters, consumers, recyclers and scrap collectors. The suppliers of PET materials in Sweden are mostly domestic, while the consumers and converters are mostly international. Traditionally, linepipe polyethylene has been the leading product of Swedish PET industry but the development of multilayer flexible packaging has resulted in rapid growth of complex substrates, such as BOPP and CPP. In addition, the Swedish PET market will likely benefit from the expansion of the renewable fuels market, as PET is widely used in the production of renewable fuels.
Furthermore, with the Swedish government and many other organizations investing heavily in the renewable energy industry, demand for PET used to produce renewable energy sources is expected to continue to rise in the medium to long term. Despite the growth in the renewable sector, the traditional packaging industry continues to be one of the most important sectors in the Swedish PET industry and further growth is anticipated. Demand for PET continues to increase as food and beverage, personal care, and pharmaceutical sectors continue to experience growth.In addition, Sweden has pledged to reduce plastic waste and curb consumption of single-use plastic items, resulting in increased demand for sustainable PET alternatives such as biodegradable and recycled PET. Overall, the Swedish PET market outlook from 2018 to 2032 looks positive. Growth in the traditional PET packaging industry, renewable energy and sustainability markets, as well as increased consumer demand for PET products, are all expected to drive further growth in the Swedish PET industry over the forecast period.
