Amorphous Polypropylene Terephatalate Market by Application, End-Use Industry and Region - Global Forecast to 2026 - ResearchAndMarkets.com

DUBLIN--(BUSINESS WIRE)--The "Amorphous Polypropylene Terephatalate Market by Application (Bottles, Films/Sheets, Food Packaging), End-use Industry( Food & Beverage, Pharmaceutical) and Region (APAC, North America, MEA, Europe, South America) - Global Forecast to 2026" report has been added to ResearchAndMarkets.com's offering.

The global amorphous polyethylene terephthalate market size is estimated at USD 41.4 billion in 2021 and is projected to reach USD 59.1 billion by 2026, at a CAGR of 7.4%, between 2021 and 2026.

Growth in the amorphous polyethylene terephthalate market can primarily be attributed to the growing involvement of amorphous polyethylene terephthalate in the industries such as pharmaceuticals and food & beverage among others.

Bottles is the largest application segment of the amorphous polyethylene terephthalate market

On the basis of application, the market is segmented into bottles, films/sheets, and food packaging, and others. Because of its high transparency, which is similar to that of glass, amorphous PET is utilized in the manufacture of bottles and packaging.

Food & beverage is the largest end-use segment of the amorphous polyethylene terephthalate market

On the basis of end-use industry, the market is segmented into food & beverage, pharmaceutical, and others. The food & beverage end-use industry segment led the market in terms of both value and volume. Amorphous polyethylene terephthalate is being increasingly used for packaging carbonated soft drinks (CSD), juices, and water.

Asia Pacific is the largest market for amorphous polyethylene terephthalate market

The Asia Pacific region is projected to be the largest market, in terms of value. Asia Pacific is also expected to grow at the highest CAGR during the forecast period. The growth of Asia Pacific region can be attributed to the high economic growth rate of the region and different food habits of people across different countries of the region. In addition, the growing population of the region presents a huge customer base for fast-moving consumer goods (FMCG) products and packaged food & beverages, which, in turn, is expected to lead to the growth of the amorphous polyethylene terephthalate market during the forecast period.

Owing to the increasing income of people in this region, the demand for high-end packaging products for food & beverage, and pharmaceutical, has been growing rapidly. Apart from the food & beverage industry, the region also exhibits significant opportunities in the packaging industry, which is expected to drive the market.

Market Dynamics

Drivers

• Increasing Demand for Amorphous Polyethylene Terephthalate from Food & Beverage Industry
• Growing Application of Amorphous Polyethylene Terephthalate in Various End-Use Industries in Asia-Pacific
• Flourishing Global Manufacturing Industry

Restraints

• Variations in Environmental Mandates and Regulations
• Fluctuating Prices of Raw Materials

Opportunities

• Replacement of Traditional Packaging Materials by Polymer-Based Packaging Materials
• Growing Demand for On-The-Go Products

Challenges

• Issues Related to Recyclability of Polyethylene Terephthalate

Companies Mentioned

• Alpek
• China Resources Packaging Materials Co.
• Covestro AG
• Dak Americas
• Equipolymers
• Far Eastern New Century Corporation
• Indorama Ventures Public Company Limited
• Invista
• IVl Dhunseri Petrochem Industries Pvt. Ltd.
• JBF Industries Limited
• Jiangsu Sanfangxiang Group Co., Ltd.
• Lotte Chemical
• MPI Polyester Industries
• Nan Ya Plastics Corporation
• Neo Group, Uab
• Novapet, S.A.
• Octal
• Petro Polymer Shargh
• Plastiverd
• Polisan Holding
• Reliance Industries Limited
• Shahid Tondgooyan Petrochemical Company
• Sinopec Yizheng Chemical Fibre Limited Liability Company
• Teijin Limited

For more information about this report visit https://www.researchandmarkets.com/r/qrdxqs.

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