Global Amorphous Polyethylene Terephthalate Market - Overview
Market Research Future (MRFR) predicts that the global amorphous polyethylene terephthalate market to register a lucrative compound annual growth rate and grow to a significant market valuation during the forecasted period of 2020-2028.
Amorphous Polyethylene Terephthalate Market (APET) is a thermoplastic, that owing to its mechanical strength, excellent clarity, low flavour absorption, light weight, and favourable creep characteristics finds myriad applications in packaging, especially in the food and beverage, and pharmaceuticals industries. This is expected to propel the global amorphous polyethylene terephthalate market growth. Amorphous polyethylene terephthalate has been approved by the the U.S. Food and Drug Administration, as an efficient packaging material.
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Global Amorphous Polyethylene Terephthalate Market – Prominent Players
Petro Polymer Shargh (Iran), the Quadrant group of companies (Switzerland), LOTTE Chemical CORPORATION (Korea), JBF Industries Ltd. (India), Reliance Industries Limited (India), China Petroleum & Chemical Corporation (China), Covestro AG (Germany), Jiangsu Sanfangxiang Group Co., Ltd. (China), M&G Chemicals (Italy), Polisan Holding (Turkey), TEIJIN LIMITED (Japan), Equipolymers (Germany), Alpek Polyester (U.S.), and others are global amorphous polyethylene terephthalate market key players are some of the prominent players profiled in MRFR Analysis and are at the forefront of competition in the global Amorphous Polyethylene Terephthalate Market.
Due to its inertness towards nitrogen, oxygen, and carbon-dioxide, polyethylene terephthalate qualifies as an appropriate modified atmosphere packaging (MAP) substance which is crucial in maintaining the shelf life of pharmaceutical products. Hence, it is used in packing pharmaceutical products, like capsules and tablets. Additionally, owing to its antibacterial properties, it is used in packing food and beverage items, like carbonated soft drinks (CSD) and energy drinks. MRFR forecasted that these are likely to boost the global amorphous polyethylene terephthalate market. The increase in demand for more efficient and lightweight automotive and electronics, and pertaining to greenhouse gas and carbon-dioxide emission regulations imposed by governments, across the world are anticipated to generate a surge in the adoption of amorphous polyethylene terephthalate, in the automobile industry. This is another crucial factor that is expected to escalate the global amorphous polyethylene terephthalate market growth. Other factors, like the growing number of ready-to-go food consumers, changing lifestyle and food habits, busy schedule of office-goers population, and increase in the purchasing power of consumers can impel the market growth in the forecast time.
On the flip side, fluctuation in prices of raw materials for amorphous polyethylene terephthalate production and problems related to its recyclability are certain challenges that can impede the market proliferation in the upcoming years. Hence, Asia Pacific is also a strong market for Amorphous Polyethylene Terephthalate Industry. The market may exist for Amorphous Polyethylene Terephthalate Market Analysis in the whole Asia Pacific region, but the maximum demand, sales, and revenue for this market happen in China, India, and Japan.
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Amorphous Polyethylene Terephthalate Market - Segments:
The segmental analysis of the global amorphous polyethylene terephthalate market feeds our client with a holistic market review that allows clients to look for the market growth opportunities. The global amorphous polyethylene market is segmented into additives, application, and end-use industry.
Based on the additives, the global polyethylene terephthalate market has been classified into chain extenders, nucleating agents, solid stating accelerators, nucleating agents, impact modifiers, and others.
Based on the applications, the global polyethylene terephthalate market has been divided into bottles, packaging, gear housings, seats & engine covers, and others.
Based on the end-use industries, the polyethylene terephthalate market has been segmented into food & beverage, pharmaceuticals, automotive, textiles, electronics & electrical, and others.
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Amorphous Polyethylene Terephthalate Market - Regional Analysis:
The regional insights into the global amorphous polyethylene terephthalate market provides a comprehensive understanding regarding the regional progress of the market which aids our clients predict growth opportunities and prepare progress strategies. Based on the region, the global amorphous polyethylene terephthalate market study has been narrowed down to Asia Pacific, North America, Europe, Latin America, and the Middle East & Africa.
Numerous end-use industries like the automotive, textiles, food and beverage industries operating in emerging economies like India, China, and Japan in the Asia Pacific region are expected to pullulate the regional amorphous polyethylene terephthalate market. APAC amorphous polyethylene terephthalate market estimated to be at the forefront in the upcoming years.
The North American amorphous polyethylene terephthalate market is anticipated to hold the second largest market size. High penetration of amorphous polyethylene terephthalate in the food and beverage, and pharmaceutical industries are factors likely to bolster the regional market. Furthermore, hike in disposable income in the US and Canada can possibly have a strongly influence on the regional market expansion. Proliferation of the food and beverage industry, in Mexico, is gaining traction for the amorphous polyethylene terephthalate market in Latin America.
The increase demand for amorphous polyethylene terephthalate by the automobile industry, for manufacturing light weight vehicles, in Europe is forecasted as a regional amorphous polyethylene terephthalate market driver for the oncoming years.
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