Amorphous Polyethylene Terephthalate Market Size, Strategies, Competitive Landscape, Trends & Factor Analysis To 2022–2030
Amorphous Polyethylene Terephthalate Market is expected to grow USD 62 billion CAGR 7.30% during the forecast 2021-2030
Amorphous polyethylene terephthalate (APET) is a thermoplastic, that owing to its mechanical strength, excellent clarity, low flavour absorption, light weight, and favourable creep characteristics finds myriad applications in packaging, especially in the food and beverage, and pharmaceuticals industries. This is expected to propel the global Amorphous Polyethylene Terephthalate Market growth. Amorphous polyethylene terephthalate has been approved by the the U.S. Food and Drug Administration, as an efficient packaging material. Due to its inertness towards nitrogen, oxygen, and carbon-dioxide, polyethylene terephthalate qualifies as an appropriate modified atmosphere packaging (MAP) substance which is crucial in maintaining the shelf life of pharmaceutical products. Hence, it is used in packing pharmaceutical products, like capsules and tablets. Additionally, owing to its antibacterial properties, it is used in packing food and beverage items, like carbonated soft drinks (CSD) and energy drinks. MRFR forecasted that these are likely to boost the Amorphous Polyethylene Terephthalate Market Size. The increase in demand for more efficient and lightweight automotive and electronics and pertaining to greenhouse gas and carbon-dioxide emission regulations imposed by governments, across the world are anticipated to generate a surge in the adoption of amorphous polyethylene terephthalate, in the automobile industry. This is another crucial factor that is expected to escalate the global Amorphous Polyethylene Terephthalate Marketgrowth. Other factors, like the growing number of ready-to-go food consumers, changing lifestyle and food habits, busy schedule of office-goers population, and increase in the purchasing power of consumers can impel the market growth in the forecast time.
On the flip side, fluctuation in prices of raw materials for amorphous polyethylene terephthalate production and problems related to its recyclability are certain challenges that can impede the market proliferation in the upcoming years.
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Segmentation Overview
The segmental analysis of the global Amorphous Polyethylene Terephthalate Marketfeeds our client with a holistic market review that allows clients to look for the market growth opportunities. The global amorphous polyethylene market is segmented into additives, application, and end-use industry.
Based on the additives, the Amorphous Polyethylene Terephthalate Markethas been classified into chain extenders, nucleating agents, solid stating accelerators, nucleating agents, impact modifiers, and others.
Based on the applications, the Amorphous Polyethylene Terephthalate Markethas been divided into bottles, packaging, gear housings, seats & engine covers, and others.
Based on the end-use industries, the uses of polyethylene terephthalate Market Size has been segmented into food & beverage, pharmaceuticals, automotive, textiles, electronics & electrical, and others.
Key Players
Petro Polymer Shargh (Iran), the Quadrant group of companies (Switzerland), LOTTE Chemical CORPORATION (Korea), 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), Polisan Holding (Turkey), TEIJIN LIMITED (Japan), Equipolymers (Germany), Alpek Polyester (U.S.), and others are global Amorphous Polyethylene Terephthalate Marketkey players.
Demographic Analysis
The regional insights into the global Amorphous Polyethylene Terephthalate Marketprovides a comprehensive understanding regarding the regional progress of the market which aids our clients predict growth opportunities and prepare progress strategies. Based on the region, the global Amorphous Polyethylene Terephthalate Marketstudy has been narrowed down to Asia Pacific, North America, Europe, Latin America, and the Middle East & Africa.
Numerous end-use industries like the automotive, textiles, food and beverage industries operating in emerging economies like India, China, and Japan in the Asia Pacific region are expected to pullulate the regional Amorphous Polyethylene Terephthalate Market Size. APAC Amorphous Polyethylene Terephthalate Marketestimated to be at the forefront in the upcoming years.
The North American Amorphous Polyethylene Terephthalate Marketis anticipated to hold the second largest market size. High penetration of amorphous polyethylene terephthalate in the food and beverage, and pharmaceutical industries are factors likely to bolster the regional market. Furthermore, hike in disposable income in the US and Canada can possibly have a strongly influence on the regional market expansion. Proliferation of the food and beverage industry, in Mexico, is gaining traction for the Amorphous Polyethylene Terephthalate Marketin Latin America.
The increase demand for amorphous polyethylene terephthalate by the automobile industry, for manufacturing light weight vehicles, in Europe is forecasted as a regional Amorphous Polyethylene Terephthalate Marketdriver for the oncoming years.
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