Global Amorphous Polyethylene Terephthalate Market Report and Forecast 2024-2032

Global Amorphous Polyethylene Terephthalate Market Report and Forecast 2024-2032

Market Outlook

According to the report, the global amorphous polyethylene terephthalate market reached a value of USD 46.30 billion in 2023. Aided by the evolving demands of various sectors including packaging, consumer goods, and pharmaceuticals, the market is projected to further grow at a CAGR of 7% between 2024 and 2032 to reach a value of USD 86.04 billion by 2032.

APET, characterised by its clarity, strength, and thermoformability, is a preferred material in the production of high-quality packaging, especially for food, beverages, and consumer products. Its excellent barrier properties against water vapor and gases, coupled with its recyclability, position APET as a sustainable choice in the global push towards eco-friendly packaging solutions.

The amorphous polyethylene terephthalate market growth is primarily fuelled by the packaging industry's shift towards more sustainable practices. With consumers increasingly aware of environmental issues, there is a growing demand for recyclable and eco-friendly packaging materials, making APET a material of choice for manufacturers. Additionally, the versatility of APET in accommodating various design and functionality requirements further propels its adoption across different packaging applications.

Moreover, the food and beverage sector's expansion, along with the rise in consumer preference for convenience foods, has significantly contributed to the amorphous polyethylene terephthalate market demand. Its ability to maintain the freshness and integrity of packaged food, combined with its aesthetic appeal, makes it highly suitable for ready-to-eat meals, beverages, and other perishable goods.

Technological advancements in polymer chemistry and processing technologies have also played a crucial role in enhancing the properties of APET, such as improved barrier characteristics and reduced material thickness without compromising strength. These innovations not only contribute to the material's performance but also align with the sustainability objectives by minimising resource use.

Looking ahead, the amorphous polyethylene terephthalate market outlook is being influenced by the continued demand for sustainable packaging solutions and the expanding applications of APET in various industries. As the market evolves, the focus on sustainability, innovation in material science, and regulatory compliance will be critical in driving the development and adoption of APET.

Market Segmentation

The market can be divided based on application, end use industry, and region.

Market Breakup by Application

• Bottles
• Films/Sheets
• Clam Shell Packaging
• Others

Market Breakup by End Use Industry

• Food and Beverages
• Pharmaceuticals
• Consumer Goods
• Others

Market Breakup by Region

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East and Africa

Competitive Landscape

The report looks into the market shares, plant turnarounds, capacities, investments, and mergers and acquisitions, among other major developments, of the leading companies operating in the global amorphous polyethylene terephthalate market. Some of the major players explored in the report are as follows:

• Alpec SAB CV (OCTAL)
• Covestro AG
• Lotte Chemical Corp.
• Zhejiang Zhink Group Co., Ltd.
• MPI Polyester Industries Sdn Bhd
• UAB “NEO GROUP”
• SA Minera Catalano Aragonesa (NOVAPET, S.A.)
• Sinopec Yizheng Chemical Fibre Co. Ltd.
• Polisan Holding AS
• Reliance Industries Ltd.
• Others

This product will be delivered within 5-7 business days.