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Amorphous Polyethylene Terephthalate Market Share

ID: MRFR//4480-HCR | 100 Pages | Author: Priya Nagrale| November 2024

In the dynamic landscape of the Amorphous Polyethylene Terephthalate (APET) market, businesses employ various positioning strategies to secure and expand their market share. These strategies are crucial as they determine how a company's products or services are perceived in relation to competitors. One common approach is differentiation, where companies seek to distinguish their APET products from others in the market. This may involve emphasizing unique features, such as enhanced durability, environmental sustainability, or innovative packaging solutions. By highlighting these distinctive qualities, companies aim to attract customers who value specific attributes and are willing to pay a premium for them.

Another strategic avenue in market share positioning involves cost leadership. Some businesses focus on becoming the low-cost producers of APET, aiming to offer competitive prices without compromising quality. Cost leadership strategies often involve optimizing production processes, securing efficient supply chains, and investing in technology to drive economies of scale. This approach is particularly effective in price-sensitive markets where customers prioritize affordability over other product attributes. Companies employing cost leadership strategies aim to capture a significant portion of the market by appealing to budget-conscious consumers and building strong relationships with retailers.

Furthermore, niche market positioning is a strategy adopted by certain companies within the APET sector. Instead of targeting the broader market, these businesses identify and cater to specific segments with unique needs. This might involve producing specialty APET products tailored for particular industries, such as food and beverage packaging or medical applications. Niche market positioning allows companies to focus their resources on serving a smaller, but more dedicated customer base, often leading to higher profit margins and increased brand loyalty.

Collaboration and partnerships also play a pivotal role in market share positioning within the APET industry. Companies may form strategic alliances with suppliers, distributors, or other stakeholders to enhance their reach and capabilities. By leveraging complementary strengths and resources, businesses can gain a competitive edge in terms of production efficiency, distribution networks, or access to new markets. Collaborative efforts contribute to building a robust market presence, especially when facing challenges such as fluctuating raw material prices or regulatory changes.

Moreover, innovation is a key driver in market share positioning for APET manufacturers. Companies that consistently invest in research and development to create cutting-edge products or improve existing ones can capture the attention of consumers seeking advanced solutions. Whether it's developing APET with enhanced recyclability, improved barrier properties, or other performance enhancements, innovation allows companies to stay ahead of the curve and maintain a strong market position. Effective communication of these innovations through marketing efforts helps build brand credibility and attracts customers who value technological advancements.

Covered Aspects:

Report Attribute/Metric	Details
Base Year For Estimation	2021
Forecast Period	2021-2030
Growth Rate	7.30% 2030

Amorphous Polyethylene Terephthalate Market Highlights:

Amorphous Polyethylene Terephthalate Market Trends

Amorphous Polyethylene Terephthalate Market Analysis

Amorphous Polyethylene Terephthalate Market Share

Amorphous Polyethylene Terephthalate Companies

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 (%)

Amorphous Polyethylene Terephthalate

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.

September 2023: The European Commission published a proposal for a new regulation on single-use plastics, which would ban certain single-use plastic products, including APET cups and plates. The regulation is expected to be finalized in 2024.

Intended Audience

Amorphous polyethylene terephthalate Manufacturers

Traders and distributors of amorphous polyethylene terephthalate

Research and development institutes

Potential investors

Raw material suppliers

Nationalized laboratory

Amorphous Polyethylene Terephthalate Companies

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