The global amorphous polyethylene terephthalate market size is expected to reach USD 77.71 billion by 2030, according to a new study by Polaris Market Research. The report “Amorphous Polyethylene Terephthalate Market Share, Size, Trends, Industry Analysis Report, by Application (Food Packaging, Bottles, Films and Sheets, Others); by End-User; By Region; Segment Forecast, 2022 - 2030” gives a detailed insight into current market dynamics and provides analysis on future market growth.
Amorphous polyethylene terephthalate offers properties such high strength, low weight, clarity, impact resistance, and high barrier properties. The demand for the industry has also increased on account of its affordability and recyclability. It is widely used in packaging solutions across diverse industries such as food & beverage, automotive, pharmaceuticals, and others.
Greater application of amorphous polyethylene terephthalate in production of bottles for mineral water and carbonated drinks, rise in urbanization, and growth in population drives the industry. Inclination toward use of sustainable solutions further boosts the adoption of the industry across the globe.
Rise in demand from emerging economies and implementation of new recycling techniques are expected to contribute to the factors expected to contribute to the industry growth in the coming years.
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They are used in diverse industries such as automotive, consumer goods, food and beverage, industrial, and others. The demand from the food and beverage sector is expected to be high during the forecast period. Rise in environmental consciousness, and introduction of government initiatives to reduce harmful environmental effects associated with plastic has encouraged greater use of amorphous polyethylene terephthalate.
Asia Pacific accounted for a greater share of the global market in 2021 and is expected to maintain its dominance over the forecast period. Rise in urbanization, industrialization, and growth in the food and beverage sector boosts the growth of the industry in Asia Pacific.
Increasing adoption of sustainable packaging solutions, and growth in environmental awareness further increases the demand of the industry in Asia Pacific. Economic growth, strengthening pharmaceutical sector, and demand for packaging from the FMCG sector fuels growth in this region. Several global players are entering the developing nations in this region to leverage availability of resources and workforce.
Amorphous polyethylene terephthalate (APET) Market Report Highlights
Polaris Market Research has segmented the amorphous polyethylene terephthalate (APET) market report based on application, end-use, and region:
Amorphous Polyethylene Terephthalate, Application Outlook (Revenue - USD Billion, 2018 - 2030)
Amorphous Polyethylene Terephthalate, End-Use Outlook (Revenue - USD Billion, 2018 - 2030)
Amorphous Polyethylene Terephthalate, Regional Outlook (Revenue - USD Billion, 2018 - 2030)