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The Amorphous Polyethylene Terephthalate (APET) market is experiencing notable trends that are shaping its trajectory in recent times. APET, a thermoplastic polymer, finds extensive use in various industries, including packaging, electronics, and automotive, owing to its desirable properties such as transparency, chemical resistance, and recyclability. One prominent trend in the market is the increasing demand for sustainable packaging solutions. With growing environmental concerns, businesses and consumers alike are seeking eco-friendly alternatives to traditional packaging materials. APET, being recyclable and offering a reduced carbon footprint, has gained traction as a viable option for sustainable packaging, driving its market growth.
Another significant trend in the APET market is the rising popularity of lightweight materials in the automotive sector. As the automotive industry continues to focus on fuel efficiency and emission reduction, lightweight materials become crucial in achieving these goals. APET's lightweight nature, coupled with its durability and strength, positions it as a preferred choice for manufacturers in the automotive sector. The demand for APET in automotive applications is expected to witness substantial growth as the industry embraces the shift towards lighter and more sustainable materials.
Moreover, technological advancements and innovations in APET manufacturing processes contribute to the market trends. Manufacturers are investing in research and development to enhance the properties of APET, making it more versatile and adaptable to diverse applications. Improved processing technologies have resulted in enhanced thermal stability and mechanical properties of APET, expanding its potential applications across various industries. These advancements fuel the market growth by unlocking new possibilities and markets for APET products.
On the global scale, the APET market is witnessing geographical shifts in demand. Emerging economies, with their growing consumer bases and industrialization, are becoming key players in the APET market. As these regions experience increased urbanization and disposable incomes, the demand for packaged goods and electronics rises, subsequently boosting the demand for APET. Market players are strategically expanding their presence in these regions to capitalize on the evolving market dynamics and tap into new growth opportunities.
However, challenges such as fluctuating raw material prices and the availability of alternative materials pose threats to the steady growth of the APET market. The cost volatility of key raw materials used in APET production, such as purified terephthalic acid (PTA) and ethylene glycol (EG), can impact the overall production costs for manufacturers. Additionally, the development of alternative materials with similar or superior properties may divert demand away from APET, compelling market players to continually innovate and differentiate their products.
Amorphous Polyethylene Terephthalate Market Highlights:
Amorphous Polyethylene Terephthalate Market OverviewÂ
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.
September 2023:Â 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
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