Global Amorphous Polyethylene Terephthalate Market Research Report Information: By Additives (Chain Extenders, Solid Stating Accelerators), Application (Bottles, Packaging), End-Use Industries (Food & Beverage, Pharmaceuticals, Automotive), Region - Forecast Till 2030

Amorphous Polyethylene Terephthalate Market Overview 

Amorphous polyethylene terephthalate (APET) market is expected to grow USD 62 billion CAGR 7.30% during the forecast 2021-2030. Amorphous polyethylene terephthalate is a type of plastic material with glass-like properties. It is created by extruding polyethylene terephthalate (PET). Because of its superior mechanical and physical properties, this material is commonly used for packaging carbonated soft drinks (CSD), juices, and water; personal care products; and pharmaceuticals, among other products. As an effective barrier to oxygen, nitrogen, and carbon dioxide, amorphous polyethylene terephthalate is suitable for modified atmosphere packaging (MAP).The growing demand for amorphous polyethylene terephthalate from the food and beverage industries is driving the global amorphous polyethylene terephthalate market. The market is expected to expand over time as a result of rising demand for ready-to-eat food products as well as approval from the United States Food and Drug Administration for food packaging. Furthermore, rising demand for APET in other industries such as textile, automotive, and electronics due to its high tensile strength and lightweight is expected to drive product demand.

Global Amorphous Polyethylene Terephthalate, by the End-Use Industry (%)

 

Source: MRFR analysis

Regional 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.

Segmentation

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.

Key Players

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.

Intended Audience

• Amorphous polyethylene terephthalate Manufacturers


• Traders and distributors of amorphous polyethylene terephthalate


• Research and development institutes


• Potential investors


• Raw material suppliers


• Nationalized laboratory

Report Attribute/Metric	Details
Market Size	USD 62 billion 2030
CAGR	7.30% 2030
Base Year	2021
Forecast Period	2021-2030
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	·  increasing demand for amorphous polyethylene terephthalate from the food & beverage industry ·  increasing demand for ready-to-go food products due to the changing consumption pattern