Amorphous Polyethylene Terephthalate Market Share 2020 Growth, Forecast, Size, Trends, Overview, Demand and Forecast to 2023
Market Insights
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.
Key Players
- JBF Industries Ltd.
- Reliance Industries Limited
- China Petroleum & Chemical Corporation
- Covestro AG
- Jiangsu Sanfangxiang Group Co.Ltd.
- M&G Chemicals
- Petro Polymer Shargh
- the Quadrant group of companies
- LOTTE Chemical CORPORATION
- Polisan Holding
- TEIJIN LIMITED
- Equipolymers
- Alpek Polyester
Segmentation Analysis
The Global Amorphous Polyethylene Terephthalate Market is segmented on the basis of the additives, application, end-use industry, and region.
On the basis of the additives, the market is segmented into chain extenders, nucleating agents, solid stating accelerators, nucleating agents, impact modifiers, and others.
On the basis of the application, the global market is segmented into bottles, packaging, gear housing, seats & engine covers, and others.
By the end-use industry, the global market is segmented into food & beverage, pharmaceuticals, automotive, textiles, electronics & electrical, and others.
Regional Analysis
Geographically, the Global Amorphous Polyethylene Terephthalate Market is segmented into five regions namely Asia Pacific, North America, Europe, Latin America, and the Middle East & Africa. Among these, Asia Pacific accounted for the largest region in the global amorphous polyethylene terephthalate owing to the high demand from major end-use industries such as food & beverage, automotive, textiles, and others. The expansion of these industries in countries such as China, India, and Japan is expected to drive the Asia Pacific market. Furthermore, changing consumer lifestyle coupled with the increasing demand for processed food is likely to fuel the product demand over the review period. Supply-side drivers include favouring government regulations in the region. For example, China’s State Environment Protection Act (SEPA) and Bharat Stage Emission Standards (BSES) have augmented the product demand in the automotive sector due to lightweight. The presence of major automotive industries such as Toyota, Hyundai, and Nissan in Japan is a major driver of the market in Asia Pacific region.
North America was the second largest region in the global market of polyphenol due to the expanding cosmetics and food & beverage industries in the U.S. and Canada. Favourable food safety regulations from the Food and Drug Administration are further boosting the market growth.
The European market is projected to witness a significant growth owing to the growing automotive, pharmaceuticals, and electrical & electronics sector in the region.
Latin America is anticipated to grow on account of the increasing demand for food & beverage, cosmetics, and automotive in countries such as Mexico, Brazil, and others.
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