The market for Amorphous Polyethylene Terephthalate is expected to grow at a CAGR of 4 % globally during the forecast period. Major factors driving the market studied are increasing application in the food & beverage industry and growing demand owing to its wide range of applications. On the flip side, stringent environmental regulations and the negative impact of COVID-19 outbreak on the market are expected to hinder the growth of the market studied.
- Increasing demand owing to the wide range of applications in food packaging, and other applications are expected to drive the market for an amorphous polyethylene terephthalate market during the forecast period.
- Asia-Pacific is expected to dominate the market across the globe with the largest consumption coming from China, Japan, and India
Key Market Trends
Increasing Application in Food & Beverage Industry
- Amorphous Polyethylene Terephthalate (APET) is a product of the polyester family. It is strong, durable, environment-friendly, and has a very high clarity with excellent water barrier properties.
- In the Food & Beverage Industry, Amorphous PET finds application in making bottles for packaging water, carbonated soft drinks, alcoholic beverages, and other edibles.
- APET is generally clear and translucent, available up to a thickness range of 0.030 inches depending upon the application.
- Amorphous PET has superior properties like outstanding moisture and gas barrier properties, tensile properties due to which its application in the food & beverage industry has been increasing.
- Hence, owing to the growing application of Amorphous PET in the food & beverage industry especially in Asia-Pacific region, the demand for Amorphous PET is expected to increase over the forecast period.
Asia-Pacific Region to Dominate the Market
- Asia-Pacific region is expected to dominate the market for amorphous PET during the forecast period. Due to the high demand from countries like China, India, and Japan the market for amorphous PET has been increasing.
- The largest producers of amorphous PET are located in the Asia-Pacific region. Some of the leading companies in the production of amorphous PET are Shahid Tondgooyan Petrochemical Co, Reliance Industries Limited, LOTTE Chemical CORPORATION, MPI Polyester Industries, OCTAL.
- Apart from the food and beverage industry, amorphous PET also finds applications in pharmaceutical blister packaging, clamshell packaging, and others.
- In India, about 296 cold chain projects in food processing have been approved in 2019, increasing the scope of application of amorphous PET in its packaging applications
- Chinese pharmaceutical industry which is valued at about ~USD 145 billion currently, represents the biggest emerging market with growth tipped to reach about ~USD 200 billion by 2022, thus increasing the scope of application of blister packaging where amorphous PET is used.
- The aforementioned factors, coupled with government support, are contributing to the increasing demand for Amorphous PET market during the forecast period.
The global Amorphous PET market is fragmented, with players accounting for a marginal share in the market. Some of the major companies include Zhejiang Zhink Group Co., Ltd , Reliance Industries Limited, LOTTE Chemical CORPORATION, MPI Polyester Industries, OCTAL.
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