ID: MRFR/CnM/4480-HCR | 100 Pages | Published By Priya Nagrale on March 2023
Amorphous polyethylene terephthalate (APET) market is expected to grow USD 62 billion CAGR 7.30% during the forecast 2021-2030.
Global Amorphous Polyethylene Terephthalate, by the End-Use Industry (%)
Source: MRFR analysis
The global amorphous polyethylene terephthalate market is segmented into five regions namely Asia Pacific, North America, Europe, Latin America, and the Middle East & Africa.
Asia Pacific accounted for a major market share in the global amorphous polyethylene terephthalate market in 2016 owing to the high demand from major end-use industries such as food & beverage, automotive, electronics, and textiles in this region. This growth is attributed to the expanding packaging industry in countries such as China, India, and Japan.
North America was the second largest region in the global amorphous polyethylene terephthalate market on account of the high demand from the food & beverage industries in the U.S. and Canada. High penetration of the APET in cosmetics, personal care products, and pharmaceuticals is another major driver of the market in the region.
Europe is expected to showcase a significant growth due to the extensive use of the product in various end-use industries such as pharmaceuticals, automotive, and electrical & electronics in the region.
The shifting trends towards the processed food consumption and growing automotive industry are anticipated to drive the market growth in Latin America.
The Middle East & Africa region is projected to witness a considerable growth over the assessment period on the backdrop of the expanding yet untapped market exploration.
The global amorphous polyethylene terephthalate market is segmented by additives, application, end-use industry, and region.
On the basis of the additives, it is segmented into chain extenders, nucleating agents, solid stating accelerators, nucleating agents, impact modifiers, and others.
Based on the applications, the global market is segmented into bottles, packaging, gear housings, seats & engine covers, and others.
By end-use industries, the market is segmented into food & beverage, pharmaceuticals, automotive, textiles, electronics & electrical, and others.
Some of the leading manufacturers operating in the global amorphous polyethylene terephthalate market are JBF Industries Ltd. (India), Reliance Industries Limited (India), China Petroleum & Chemical Corporation (China), Covestro AG (Germany), Jiangsu Sanfangxiang Group Co., Ltd. (China), M&G Chemicals (Italy), Petro Polymer Shargh (Iran), the Quadrant group of companies (Switzerland), LOTTE Chemical CORPORATION (Korea), Polisan Holding (Turkey), TEIJIN LIMITED (Japan), Equipolymers (Germany), Alpek Polyester (U.S.), and others .Recent Development
Indorama Ventures, a Thai-based petrochemical company, has completed the acquisition of Vietnam's leading PET packaging company, Ngoc Nghia Industry – Service – Trading Joint Stock Co. (NN). It paid about 3.09 billion baht for 97.8 percent of Ngoc Nghia. NN is a high-quality supplier of PET packaging materials to large global and Vietnamese brands in the beverage and non-beverage industries. Its operations are overseen by a seasoned management team with extensive industry experience and a thorough understanding of the local market.
Alpek, a Mexican chemical manufacturing company, has agreed to purchase OCTAL Holding SAOC (Octal). Octal is a major global producer of PET sheet and proprietary direct-to-sheet (DPET) technology, serving customers in the Americas, the Middle East, and Europe. The acquisition adds more than one million tonnes of installed capacity spread across four sites: Salalah Free Zone in Oman, Riyadh in Saudi Arabia, and Cincinnati in the United States.
|Market Size||USD 62 billion 2030|
|Historical Data||2019 & 2020|
|Forecast Units||Value (USD Million)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||Additives, Application, End-Use|
|Geographies Covered||North America, Europe, Asia-Pacific, and Rest of the World (RoW)|
|Key Vendors||JBF Industries Ltd. (India), Reliance Industries Limited (India), China Petroleum & Chemical Corporation (China), Covestro AG (Germany), Jiangsu Sanfangxiang Group Co., Ltd. (China), M&G Chemicals (Italy), Petro Polymer Shargh (Iran), the Quadrant group of companies (Switzerland), LOTTE Chemical CORPORATION (Korea), Polisan Holding (Turkey), TEIJIN LIMITED (Japan), Equipolymers (Germany), Alpek Polyester (U.S.)|
|Key Market Opportunities||New product launches and R&D Amongst major key Players|
|Key Market Drivers||
APET is a thermoplastic sheet manufactured through extrusion of polyethylene terephthalate (PET). Amorphous polyethylene terephthalate offers excellent clarity, gloss, and mechanical and thermoforming characteristics.
Leading end users of APET include food and beverages, pharmaceuticals, automotive, textiles, and electronics.
The growing demand for effective, chemical-resistant food packaging is a major driver for the APET market.
Asia Pacific accounts for the largest share in the APET market.
Leading players in the APET market include Covestro, JBF Industries, and Reliance Industries Ltd., among others.