The ever-growing consumption of packaged food and beverages globally has etched a pathway for the — amorphous polyethylene terephthalate (APET) market size to gain a profitable outcome in the coming years. According to the analysis done by IndustryARC’s experts, the global APET market value crossed $32,000 million in the year 2018. As per the evaluation, the demand will propel at a CAGR of 7.60% during the forecast period of 2019-2025.
The report is titled Amorphous Polyethylene Terephthalate Market which covers Market Size by Additives and applications, Amorphous polyethylene Terephthalate market share by top 5 companies and also the market share by start-ups during the forecast period
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Global Amorphous Polyethylene Terephthalate Market: Demand Analysis
Amorphous polyethylene terephthalate (PET) is a thermoplastic polymer resin subjected to high utilization in varied industrial sectors including automotive, food and beverage, chemical, and textile industries as well as in solar panels and 3D printing. PET is formed by a reaction between ethylene glycol and dimethyl terephthalate (DMT) and can retain temperature from -60 –to 130 degree Celsius. APET films are non-toxic with great strength and crack-proof quality enabling it to emerge as a substitute matter for glass products. PET is one of the most prominent ingredients in the market of polymer. It is completely recyclable and all PET products are marked with unique resin identification code (RIC) to get easily recognized.
Global Amorphous Polyethylene Terephthalate Market: Leading Segments
APAC is the prime region in the global APET market owing to the incrementing exponential rate of food and beverage industries. Increasing population is another contributing factor to the cause of growing demand for APET in this region. APAC held the regional share of 53% in the year 2018.
APAC region has a formidable population growing rapidly every year. This evokes a constant pressure on the overall food and beverage production providing impetus to the rising APET market for food and beverage packaging. High reliability, light weight, durability, and chemically resistant features along with being safe on food contact makes it an ideal packaging material. APAC stands out with a projected CAGR of 10% through to 2025 for APET market demand.
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Global Amorphous Polyethylene Terephthalate Market: Disruptive Trends
Alternative to Glass:
APET has come up as an alternative to glass containers in the global market and is set-up to outpace the fragile glass packaging with modern light weight, robust and highly efficient packaging benefits. APET packaging provides a moisture barrier, heat resistance, and shatterproof features to the products, yielding lucrative outcomes for the manufacturing companies. Resultantly there is a higher demand from the food and beverage companies fuelling the global APET market growth.
Biodegradable and Eco-Friendly Bottles:
Coca Cola utilizes bottles with 25% recycled and 75% fresh PET for packaging its beverage. The biodegradability of PET makes it an essential packaging material with huge demand globally. With new techniques arriving in the market, Coca Cola has developed plant-based PET and yields completely recyclable plastic bottles. With this off-the-shelf innovation, the opportunities for APET market will grow at an exceedingly higher rate for the carbonated soft drinks (CSD) industry.
Safer Food Packaging:
PET has been recognized as a safe packaging material and approved by the FDA. Oxidation impermeability protects the food from any contact with moisture and retains the natural essence of the food products. APET films provides blockage to germs and achieves an ideal role in the food packaging industry.
Light Weight Textile Products:
Textile industry has been using APET in evolving newer materials including carpets, rope, bag packs, umbrellas, jackets, and many more. The light-weight durable APET offers waterproof, tear-resistant, wrinkle free, and flexible effect to the fabrics resultantly emphasizing on quality yield products for the end users.
A. Polymers Market
B. Biaxially Oriented Polyethylene Terephthalate Market
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