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Amorphous Polyethylene Terephthalate Market size is estimated to reach US$62.8 billion by 2027 growing at a CAGR of 7.5% during the forecast period 2022-2027.

HYDERABAD, TELANGANA, INDIA, February 14, 2023 /EINPresswire.com/ -- The Amorphous Polyethylene Terephthalate Market size is estimated to reach US$62.8 billion by 2027 after growing at a CAGR of 7.5% during the forecast period 2022-2027. Amorphous Polyethylene Terephthalate or APET is a thermal rigid plastic belonging to the polyester family and is known for transparency and light processing. The plastic resin due to its barrier properties has high applicability in food & beverage, pharmaceuticals and cosmetic & personal care sectors for packaging applications. This factor is positively influencing the Amorphous Polyethylene Terephthalate Market. The food & beverage sector is flourishing on account of growing demand for food items such as dairy products which have increased their consumption. According to China’s Ministry of Industry and Information Technology, in 2021, dairy product sales in China increased by 9% in 2020. In addition, the rapid development in pharmaceuticals and cosmetics & healthcare sectors are also driving the Amorphous Polyethylene Terephthalate industry growth. However, growing oil prices can hamper the Amorphous Polyethylene Terephthalate Market growth restraining the Amorphous Polyethylene Terephthalate Market size. The decrease in market demand for Amorphous Polyethylene Terephthalate due to lockdown restrictions from COVID-19 led to a drop in its market revenue, thereby negatively impacting the Amorphous Polyethylene Terephthalate industry outlook.

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Key takeaways:

This IndustryARC report on the Amorphous Polyethylene Terephthalate market highlights the following areas -

1. Asia-Pacific dominates the Amorphous Polyethylene Terephthalate industry owing to the rapidly growing food & beverage sector in the region which is influencing APET plastic demand for packaging applications.

2. Bolstering growth in the pharmaceuticals sectors resulting from growing production for various medicines has increased APET bottles and containers demand in the sector, thereby positively impacting the Amorphous Polyethylene Terephthalate industry outlook.

3. Growing consumption of skincare cosmetics has propelled the usage of Amorphous Polyethylene Terephthalate in bottle applications for creams and lotions, thereby boosting the market growth.

4. Growing crude oil price can limit the production of raw materials required for making APET, thereby affecting the market growth as well as the Amorphous Polyethylene Terephthalate Market size.

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Segmental Analysis:

1. Amorphous Polyethylene Terephthalate Market Segment Analysis – by Grade : The industrial grade held the largest share in the Amorphous Polyethylene Terephthalate Market in 2021 and is estimated to grow at a CAGR of 7.4% during the forecast period 2022-2027. The industrial grade of APET has high applicability in food & beverage, pharmaceuticals, cosmetics & personal care and others. Being a rigid plastic, having rich mechanical strength, lightweight and chemical resistance properties, the industrial grade APET is used in packaging applications such as bottles, containers, films and sheets.

2. Amorphous Polyethylene Terephthalate Market Segment Analysis – by End-use Industry : The food & beverage sector held the largest share in the Amorphous Polyethylene Terephthalate Market in 2021 and is projected to grow at a CAGR of 7.9% during the forecast period 2022-2027. The demand for soft drinks and confectionary items such as chocolates has shown a significant increase among consumers, especially the millennials. This trend has increased the scale of production and consumption of such items.

3. Amorphous Polyethylene Terephthalate Market Segment Analysis – by Geography : Asia-Pacific held the largest share of up to 46% in the Amorphous Polyethylene Terephthalate Market in 2021. Usage of amorphous polyethylene terephthalate in the food & beverage sector in the major Asia-Pacific countries such as China, India and Australia is influencing its demand in the region. Production of dairy items and soft drinks has shown a significant increase in the region resulting from an increase in demand and consumption.

Competitive landscape:

The top 5 players in the Amorphous Polyethylene Terephthalate industry are:

1. JBF Industries Ltd.
2. Reliance Industries Limited
3. M&G Chemicals
4. Quadrant AG
5. Jiangsu Sanfangxiang

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Related Reports:

A. Crystalline Polyethylene Terephthalate Market
https://www.industryarc.com/Report/15542/crystalline-polyethylene-terephthalate-market.html

B. Bio-PET Film Market
https://www.industryarc.com/Research/Bio-PET-Film-Market-Research-507250

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