Market

The market for PerPETual’s recycled esters is massive. Although these esters could also be used in non-PET markets such as that of thermo sets, the Company has chosen to first focus on penetrating the PET market. PET, a > USD 80 billion market, is one of the most widely used plastics in the world and represents around 18% of global polymer production. It is typically used in bottles, food containers and synthetic fibres. Approximately 74 million tonnes of PET is expected to be produced globally in 2012 and this tonnage has grown at a compound annual growth rate of 7.25% for the last 20 years. Management expects this growth to continue, driven primarily by increasing consumer demand in the emerging markets, with PCI (a leading plastics consulting group) forecasting a 7.1% CAGR from 2011 to 2016 in PET bottles.