Global Amorphous Polyethylene Terephthalate Market – Industry Trends and Forecast to 2029

Global Amorphous Polyethylene Terephthalate Market, By Application (Films/Sheets, Food Packaging, Bottle Manufacturing, Others), Industry Vertical (Chemical and Petrochemical, Oil and Gas, Energy and Power, Pharmaceuticals, Textiles, Electronics and Electricals, Automotive, Food and Beverages, Healthcare, Others) – Industry Trends and Forecast to 2029.

Global Amorphous Polyethylene Terephthalate Market Analysis and Size

Amorphous polyethylene terephthalate’s thickness is 0.030" which is more than normal pet which is found in the thickness of 0.020". Amorphous polyethylene terephthalate (APET) is a thermoplastic sheet which is an effective and strong barrier to oxygen, nitrogen, and carbon dioxide.

• Data Bridge Market Research analyses that the amorphous polyethylene terephthalate market is expected to undergo a CAGR of 8.00% during the forecast period. This indicates that the market value, which was USD 1,728 million in 2021, would rocket up to USD 3,198.47 million by 2029. “Food and Beverages” dominates the end use segment of the amorphous polyethylene terephthalate market owing to the fact that it is increasingly used for packaging carbonated soft drinks (CSD), juices, and water.

Global Amorphous Polyethylene Terephthalate Market Definition

Amorphous polyethylene terephthalate is a plastic resin which is used in a wide range of applications for its beneficial characteristics such as characteristics such as safe, lightweight, 100% recyclable, strong, safe, transparent and so on. Amorphous polyethylene terephthalate is largely used in food and beverages and pharmaceutical applications.                  

Report Scope and Market Segmentation

Amorphous Polyethylene Terephthalate Market Dynamics

Drivers

• Growth and expansion influenced the market growth

Growth and expansion of all the end user verticals promoted the direct and indirect growth of this market. For example- this thermoplastic sheet is used in a wide range of applications such as films/sheets, food packaging, bottle manufacturing and others.

• Growing awareness to direct the market demand and supply

Increased awareness about the benefits of amorphous polyethylene terephthalate is inducing increased demand and application by the small and medium scale enterprises. Also, increasing use of apet bottles for making mineral water bottles, carbonated soft drink and ready to drink tea/coffee cups all around the globe is a positive sign. This in turn is bolstering the growth of the market.   

• Rising research and development operations

Increased funding from federal government pertaining to the research and development proficiencies is also bolstering the growth of the market. Research and developmental operations directed towards sustainable development will ensure optimum and judicious use of resources, thereby improving the market value. 

Opportunities

• Rise in the technological advancements

Rising technological advancements pertaining to the manufacturing technology is further inducing growth in the market value. Increasing number of technological advancements driven with a view to minimize the production costs and wastage coupled with growth in industrialization has increased the use of roofing materials for sustaining the efficiency of machinery is further ensuring a bright future for the market.

Furthermore, upsurge in the public-private funding for target research activities, high disposable income, rapid urbanization, changing lifestyles and rising product innovations and development owing to technological advancements all around the world will extend profitable opportunities for the market players in the forecast period of 2022 to 2029. Additionally, rising internet penetration rate, ongoing product development and commercialization, replacement of traditional packaging materials by polymer-based packaging materials and increasing per capita expenditure will further expand the market's growth rate in the future. 

Restraints/Challenges Global Amorphous Polyethylene Terephthalate Market

• Fluctuating prices 

Fluctuations or volatility in the prices of raw materials and machinery equipment is posing a major threat to the growth of the market. Further, uneven availability of raw materials at one particular location is demeaning the growth of the market.  Availability of alternatives in the market at an affordable range and issues related to recyclability of polyethylene terephthalate will further derail the market growth rate.  

• Norms, standards and regulations

Imposition of stringent regulations by the government on a wide range of industrial applications pertaining to the industrial activities will further slowdown the market growth rate. Lack of standardization norms, variations in environmental mandates and regulations and change in demand-supply spectrum owing to strengthening of regulations in Asia-Pacific region will further worsen the market situation.

This amorphous polyethylene terephthalate market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the amorphous polyethylene terephthalate market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.

COVID-19 Impact on Amorphous Polyethylene Terephthalate Market

COVID-19 impacted various manufacturing industries in the year 2020-2021 as it led to the closure of workplaces, disruption of supply chains, and restrictions on transportation. Several countries such as China, India, Brazil and many more imposed lockdown in this face which led to the shutdown of production and manufacturing facilities. Food and beverage industry was largely affected by this pandemic which in turn had an adverse impact on the market. Supply chain of numerous manufacturing units was adversely affected in this period leading to a major drop in the revenues and profits. However, with the increasing relaxations, a rise in import and export is significantly expected. Respective governing authorities are beginning to lift these enforced lockdowns which is a positive sign for the market. 

Recent Development

• In January 2022, Indorama Ventures Public Company Limited stated that it was in the process of acquiring Ngoc Nghia Industry – Service – Trading Joint Stock Company's shares (NN). NN is a provider of PET packaging materials to large global and Vietnamese brands in the beverage and non-beverage industries, operating with high quality standards. Its activities are managed by a seasoned management team with extensive industry expertise as well as a thorough awareness of the local market. In January 2022, Alpek, S.A.B. de C.V. announced that it has reached an agreement to acquire OCTAL Holding SAOC ("Octal") from OCTAL Holding SAOC. This purchase will help Alpek move forward in the high-value PET sheet business area, narrow the gap on its ESG targets, and better fulfil its clients' rising PET resin demands.
• In November 2021, The Coca-Cola System has partnered with Indorama Ventures and Trash Lucky to supply PPE suits made from recycled PET plastic bottles in three of Thailand's southern districts. ThaiNamthip Ltd., HaadThip Plc., and Coca-Cola (Thailand) Ltd. are a part of the Coca-Cola system in Thailand.
• In May 2021, Indo Rama Synthetics (India) Limited (IRSL), a subsidiary of global petrochemical company Indorama Ventures Public Company Limited, has planned to upgrade equipment and expand capacity. IRSL's capital investment strategy includes a new PET resin manufacturing plant, extra balancing equipment, and a wide selection of specialty yarns, all of which are expected to help the company better serve clients across the country. The new PET resin facility in Nagpur will increase capacity by 772 tons per day and is scheduled to open in the second quarter of 2022.
• In August 2021, Far Eastern New Century Corporation partnered with fiber expert OTIZ, Oriental Industries (Suzhou) Ltd. to create a recycling PET bottle technology for tire manufacturing.

Global Amorphous Polyethylene Terephthalate Market Scope

The amorphous polyethylene terephthalate market is segmented on the basis of application and industry vertical. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

Application

• Films/Sheets
• Food Packaging
• Bottle Manufacturing
• Others

Based on product type, the amorphous polyethylene terephthalate market is segmented into films/sheets, food packaging, bottle manufacturing and others. 

Industry vertical

• Chemical and Petrochemical
• Oil and Gas
• Energy and Power
• Pharmaceuticals
• Textiles
• Electronics and Electricals
• Automotive
• Food and Beverages
• Healthcare
• Others

The amorphous polyethylene terephthalate market has also been segmented based on the application into chemical and petrochemical, oil and gas, energy and power, pharmaceuticals, textiles, electronics and electricals, automotive, food and beverages, healthcare and others.

Amorphous Polyethylene Terephthalate Market Regional Analysis/Insights

The amorphous polyethylene terephthalate market is analysed and market size insights and trends are provided by country, application and industry vertical as referenced above.

The countries covered in the amorphous polyethylene terephthalate market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.

Asia-Pacific dominates the market due to the high economic growth rate, huge customer base for fast-moving consumer goods (FMCG) products and packaged food and beverages, different food habits of people across different countries of the region along with prevalence of cheap labour, and trade liberalisation.

The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.   

Competitive Landscape and Amorphous Polyethylene Terephthalate Market Share Analysis

The amorphous polyethylene terephthalate market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to amorphous polyethylene terephthalate market.

Some of the major players operating in the amorphous polyethylene terephthalate market are:

• JBF Industries Ltd. (India)
• Reliance Industries Limited (India)
• SINOPEC YIZHENG CHEMICAL FIBRE LIMITED LIABILITY COMPANY (China)
• Covestro AG (Germany)
• M&G Chemicals (Canada)
• Petro Polymer Shargh (Iran)
• Quadrant AG (Switzerland)
• Novapet S.A. (Spain)
• Plastiverd (Spain)
• Polisan Holding (Turkey)
• Octal (Oman)
• Shahid Tondgooyan Petrochemical Company (China)
• Indorama Ventures Public Company Limited (Thailand)
• Alpek (Mexico)
• Jiangsu Sanfangxiang Group Co., Ltd. (China)
• Far Eastern New Century Corporation (Taiwan)
• DAK Americas (US)     

Research Methodology : Global Amorphous Polyethylene Terephthalate Market

Data collection and base year analysis is done using data collection modules with large sample sizes. The market data is analyzed and estimated using market statistical and coherent models. Also market share analysis and key trend analysis are the major success factors in the market report. To know more please request an analyst call or can drop down your inquiry.

The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Apart from this, data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, Global versus Regional and Vendor Share Analysis. To know more about the research methodology, drop in an inquiry to speak to our industry experts https://www.databridgemarketresearch.com/speak-to-analyst/?dbmr=global-amorphous-polyethylene-terephthalate-market