Amorphous Polyethylene Terephthalate Market Research Report – Forecast to 2023
Amorphous Polyethylene Terephthalate (APET) is a polyester used for packaging with high impact resistance, superior clarity, lightweight nature, high tensile strength, and recyclability. Among the additives segment, the bottles accounted for major market share in 2016 owing to the packaging of various products such as tea, coffee, mineral water, and carbonated drinks. The chain extenders additive type is highly consumed to enhnace the Amorphous Polyethylene Terephthalate properties due to the lower system costs, faster reaction, and more flexibility. The extensive use of the product in the food & beverage industry for packaging and storage of beverages is projected to propel the market growth during the forecast period. Moreover, it is used for tablet and capsule packaging, which is projected to fuel the market growth further. The gear housings, seats & engine covers, and wipers for the automotive are manufactured using the product, thereby, the demand for the product is increasing from the automotive sector.
The Global Amorphous Polyethylene Terephthalate Market is segmented on the basis of the Additives, Application, End-Use Industry and Region.
Based on the Additives, the Global Amorphous Polyethylene Terephthalate Market is segmented into chain extenders, nucleating agents, solid stating accelerators, nucleating agents, impact modifiers, and others.
On the Basis of the Application, the market is segmented into bottles, packaging, gear housings, seats & engine covers, and others.
The market is segmented on the basis of the End-Use Industries namely food and beverage, pharmaceuticals, automotive, textiles, electronics & electrical, and others.
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Some of the 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 .
The Global Amorphous Polyethylene Terephthalate Market is segmented into five regions: Asia Pacific, North America, Europe, Latin America, and the Middle East & Africa.
The Asia Pacific was the largest region in the global market in 2016 owing to the high consumption of the product from the major end-use industries such as automotive, textiles, food & beverage, and others in Japan, India, and China.
The North American market was the second largest region in the global market on account of high penetration of the product in the food & beverage and pharmaceuticals industry coupled with the high disposable income in the U.S. and Canada.
The increasing product demand in Europe can be attributed to the reviving automotive sector and the regulations pertaining to the region for lightweight materials in automotive.
Latin America is expected to substantially grow on the backdrop of the growing automotive and the food & beverage industry in Mexico.
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