Polyethylene Naphthalate Market – Trends and Forecasts by Technavio

October 4, 2017

LONDON–(BUSINESS WIRE)–#Research–Technavio’s latest report on the global
polyethylene naphthalate (PEN) market provides an analysis of
the most important trends expected to impact the market outlook from
2017-2021. Technavio
defines an emerging trend as a factor that has the potential to
significantly impact the market and contribute to its growth or decline.

PEN is used in various application industries such as packaging,
electronics, premium automotive tires, beverage bottling, textiles,
industrial fibers, and foamed articles. The demand from various
industries has led to the significant growth of the PEN market,
globally. Also, it is used in various products such as solar cells and
magnetic recording media films.

Mohd Shakeel Iqbal, a lead analyst from Technavio, specializing in
research on specialty
chemicals sector, says, “The major growth is contributed from the
emerging economies such as China, India, and Brazil. The rapid
urbanization in these emerging economies has increased the use of PEN in
these countries. Other factors such as the rise in the demand from
industries like packaging, beverage bottling, and electronics in major
regions, and major investments in the APAC region are driving the growth
of the PEN market.”

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The top three emerging trends driving the global PEN market according
to Technavio research analysts are:

Rising application in solar cell protection
New methods to manufacture PEN films
Potential in new application: Magnetic recording media

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Rising application in solar cell protection

The increase in R&D activities by major vendors has led to the demand
for PEN from various applications such as solar cell protection. PEN is
used as a substrate for new solar cells. The transparency properties of
PEN make it suitable for the formation of superstrates. PEN exhibits
good optical, suitable surface properties, and good electrical
properties, which enhances the performance of the products.

“The rising environmental concerns, demand for alternative energy,
government initiatives for the promotion of renewable energy,
technological advancement, cost-effective production, and low taxes, are
the major factors that are driving the solar cells market. APAC is
dominating the market with the increasing demand from emerging countries
like China,” according to Shakeel.

New methods to manufacture PEN films

The advancement in technology has led to many developments, thereby
reducing the cost of production. The suppliers of raw materials in APAC
have developed their production technology, which is anticipated to
reduce the overall production cost in the future. Consequently, PEN will
compete with PET in similar application segments with enhanced
properties in the forecast period.

The low-pressure high-frequency plasma chemical vapor deposition (CVD)
system was developed to produced cost-effective PEN films, offering
similar strength, stability, durability, chemical resistance, and other
abilities. The new system that is developed is yet to be commercialized.

Potential in new application: Magnetic recording media

PEN is used in the production of magnetic recording media due to its
high mechanical strength, good dimensional stability, high heat
resistance, high tensile strength, and, high-density recording, which
enhances the performance of the product. PET is replaced with PEN due to
the higher resistance to heat exhibited by PEN.

The global magnetic recording media market is growing steadily, due to
the rising demand from expanding industrial applications, increasing
demand for high and medium energy speaker rings, magnetic separators,
toys, novelties, magnetic therapy, holding-magnet systems, automotive
motors, nuclear magnetic resonance (NMR) devices, and coatings of
magnetic recording tapes.

The key vendors are as follows:

Dupont Teijin Films
Polyonics
SKC
Sumitomo Chemical
TORAY INDUSTRIES

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