The Amorphous Polyethylene Terephthalate Market was valued at USD 48.72 billion in 2023. It is estimated to reach USD 87.74 billion by 2031 and grow at a CAGR of 7.5% over the forecast period 2024-2031.
Increasing emphasis on sustainable packaging solutions worldwide, driven by environmental concerns, is propelling the demand for APET, known for its recyclability and eco-friendly properties. Secondly, the expanding food and beverage industry, particularly in emerging economies, is driving the adoption of APET for packaging applications, thanks to its excellent barrier properties and suitability for food contact. It acts as a barrier to oxygen, nitrogen, and carbon dioxide, making it ideal for packing in a modified atmosphere (MAP). Continuous technological advancements in APET production processes are improving its quality and cost-effectiveness, further stimulating market growth. Additionally, the growing trend of on-the-go consumption and the demand for lightweight, convenient packaging solutions are fueling the uptake of APET in various product segments. Lastly, regulatory initiatives promoting the use of recyclable materials and increasing consumer awareness regarding sustainable packaging options are driving the growth of the APET market.
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Drivers
Growing environmental concerns and emphasis on sustainable packaging solutions
Rising Disposable Income
Growing adoption of APET in the Food & Beverage Industry
The Amorphous Polyethylene Terephthalate (APET) market is experiencing a surge due to its growing adoption in the food and beverage industry. This trend is primarily fueled by APET's excellent properties for packaging, including its transparency, inertness, and ability to resist chemical degradation. As consumers demand more convenient and sustainable packaging solutions, APET emerges as a preferred choice, driving its market growth within the food and beverage sector.
Restraint
Fluctuating Raw Material Prices
Environmental regulations about plastic usage and recycling standards.
Opportunities
Replacement of traditional packaging materials with polymer-based packaging materials
Increasing demand for On-the-Go Products
The surging demand for on-the-go products represents a significant opportunity for the Amorphous Polyethylene Terephthalate (APET) Market. APET's lightweight, durable, and easily moldable nature makes it an ideal choice for packaging solutions catering to the needs of busy consumers seeking convenience. As lifestyles continue to prioritize mobility and quick consumption, APET's suitability for on-the-go packaging positions it to capitalize on this trend, driving market growth and innovation in portable product offerings.
Challenges
Limited recycling infrastructure and consumer awareness regarding the recyclability of APET
Substitution threats from other advanced materials with better properties, such as polylactic acid (PLA) and polyethylene furanoate (PEF)
The Russia and Ukraine war has led to sanctions and disruptions in the supply of oil and gas, which are essential raw materials for PET production. This can lead to shortages of APET and drive-up prices. The supply chain disruptions and rising energy costs can cause significant price fluctuations for APET. Manufacturers may struggle to find cost-effective raw materials, impacting production costs and final product prices. Difficulty in acquiring raw materials due to supply chain disruptions and rising energy prices can lead to higher production costs for APET manufacturers.
Amorphous polyethylene terephthalate (APET) has seen a decrease in demand due to the economic challenges faced by many industries. The decrease in demand for APET is due to reduced consumer spending, supply chain disruptions, and decreased production levels. During an economic downturn, consumers tend to tighten their belts and prioritize essential spending. This can lead to a decrease in demand for products packaged in APET, such as food and beverages. APET is also used in electronics and other durable goods. If people are postponing non-essential purchases, it can lead to lower demand for APET in these sectors.
By Additive Types
Chain Extender
Nucleating Agent
Stabilizer
Impact Modifier
Other
By Application
Bottles
Films/Sheets
Food Packaging
Others
By application, Bottles held the largest revenue share of more than 48% in 2023 and are expected to dominate the market during the forecast period. APET bottles are increasingly preferred across various industries, including beverages, personal care, and household products, owing to their ability to maintain product integrity and extend shelf life. APET offers flexibility in shaping and coloring, enabling manufacturers to create appealing and distinctive bottle designs that attract consumers' attention on store shelves. This customization capability enhances brand visibility and consumer engagement, contributing to the continued preference for APET bottles in various product categories.
By End-Use Industry
Food & Beverage
Pharmaceuticals
Others
Food & Beverage dominated the end-use industry segment of the Amorphous Polyethylene Terephthalate Market with the highest revenue share of more than 70% in 2023. This dominance is attributable to the indispensable role of amorphous polyethylene terephthalate (APET) in providing reliable and hygienic packaging solutions for the food and beverage industry. APET's innate characteristics, such as its transparency, resilience, and excellent barrier properties, ensure the safe preservation and presentation of consumables. Additionally, APET's versatility allows for various packaging formats, accommodating the diverse needs of food and beverage products while meeting consumer demands for convenience and product safety.
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Asia Pacific dominated the Amorphous Polyethylene Terephthalate Market with the largest revenue share of more than 40% in 2023 owing to the rapid industrialization and urbanization in the Asia Pacific region, driving the demand for packaged goods and consequently, amorphous polyethylene terephthalate (APET) for packaging solutions. Moreover, the expanding middle-class population and increasing disposable incomes in countries like China and India contribute to heightened consumption of packaged food and beverages, further fueling APET market growth. Expansion of supermarkets, hypermarkets, and convenience stores further drives the growth of the Amorphous Polyethylene Terephthalate Market. This expansion drives heightened demand for packaged goods, necessitating efficient packaging materials like APET. Coupled with evolving consumer preferences towards convenience-oriented products, this trend solidifies APET's position as a preferred packaging material in the region.
North America is estimated to grow at a significant CAGR during the forecast period of 2024-2031. Rising demand for convenient and lightweight packaging solutions across various industries further fuels the adoption of APET in North America, contributing to its projected growth.
REGIONAL COVERAGE:
North America
US
Canada
Mexico
Europe
Eastern Europe
Poland
Romania
Hungary
Turkey
Rest of Eastern Europe
Western Europe
Germany
France
UK
Italy
Spain
Netherlands
Switzerland
Austria
Rest of Western Europe
Asia Pacific
China
India
Japan
South Korea
Vietnam
Singapore
Australia
Rest of Asia Pacific
Middle East & Africa
Middle East
UAE
Egypt
Saudi Arabia
Qatar
Rest of the Middle East
Africa
Nigeria
South Africa
Rest of Africa
Latin America
Brazil
Argentina
Colombia
Rest of Latin America
M&G Chemicals, Indorama Ventures Public Company Limited, Quadrant AG, Reliance Industries Limited, Nan Ya Plastics Corporation, DAK Americas, Polisan Holding, Teijin Limited, Sinopec Yizheng Chemical Fibre Company, Jiangsu Sanfangxiang Group Co., Far Eastern New Century Corporation, Plastiverd, JBF Industries Ltd., Covestro AG, INVISTA.
M&G Chemicals-Company Financial Analysis
In January 2022, Indorama Ventures Public Company Limited announced its intention to acquire shares of Ngoc Nghia Industry – Service – Trading Joint Stock Company (NN). NN is a leading provider of PET packaging materials to both global and Vietnamese brands in the beverage and non-beverage industries, known for its high-quality standards.
In August 2021, Far Eastern New Century Corporation joined forces with fiber expert OTIZ, Oriental Industries (Suzhou) Ltd., to develop a PET bottle recycling technology specifically for tire manufacturing. This innovative process eliminates the need for intermediary chemical stages, meeting the high mechanical requirements of tire production.
| Report Attributes | Details |
|---|---|
| Market Size in 2023 | US$ 48.72 Billion |
| Market Size by 2031 | US$ 87.74 Billion |
| CAGR | CAGR of 7.5% From 2024 to 2031 |
| Base Year | 2023 |
| Forecast Period | 2024-2031 |
| Historical Data | 2020-2022 |
| Report Scope & Coverage | Market Size, Segments Analysis, Competitive Landscape, Regional Analysis, DROC & SWOT Analysis, Forecast Outlook |
| Key Segments | • By Additive Types (Chain Extender, Nucleating Agent, Stabilizer, Impact Modifier, and Other) • By Application (Bottles, Films/Sheets, Food Packaging, and Others) • By End-Use Industry (Food & Beverage, Pharmaceuticals, and Others) |
| Regional Analysis/Coverage | North America (US, Canada, Mexico), Europe (Eastern Europe [Poland, Romania, Hungary, Turkey, Rest of Eastern Europe] Western Europe] Germany, France, UK, Italy, Spain, Netherlands, Switzerland, Austria, Rest of Western Europe]), Asia Pacific (China, India, Japan, South Korea, Vietnam, Singapore, Australia, Rest of Asia Pacific), Middle East & Africa (Middle East [UAE, Egypt, Saudi Arabia, Qatar, Rest of Middle East], Africa [Nigeria, South Africa, Rest of Africa], Latin America (Brazil, Argentina, Colombia, Rest of Latin America) |
| Company Profiles | M&G Chemicals, Indorama Ventures Public Company Limited, Quadrant AG, Reliance Industries Limited, Nan Ya Plastics Corporation, DAK Americas, Polisan Holding, Teijin Limited, Sinopec Yizheng Chemical Fibre Company, Jiangsu Sanfangxiang Group Co., Far Eastern New Century Corporation, Plastiverd, JBF Industries Ltd., Covestro AG, INVISTA |
| DRIVERS | • Growing environmental concerns and emphasis on sustainable packaging solutions • Rising Disposable Income • Growing adoption of APET in the Food & Beverage Industry |
| Restraints | • Fluctuating Raw Material Prices • Environmental regulations about plastic usage and recycling standards. |
Ans: The Amorphous Polyethylene Terephthalate Market was valued at USD 48.72 billion in 2023.
Ans: The expected CAGR of the global Amorphous Polyethylene Terephthalate Market during the forecast period is 7.5%.
Ans: By end-user industry, the pharmaceutical segment is expected to grow at the highest CAGR in the Amorphous Polyethylene Terephthalate Market from 2024-2031.
Ans: The United States dominated the Amorphous Polyethylene Terephthalate Market in the North America region.
Ans: The challenges in the Amorphous Polyethylene Terephthalate (APET) Market include intense competition from alternative packaging materials and limited recycling infrastructure and consumer awareness regarding APET's recyclability.
TABLE OF CONTENTS
1. Introduction
1.1 Market Definition
1.2 Scope
1.3 Research Assumptions
2. Industry Flowchart
3. Research Methodology
4. Market Dynamics
4.1 Drivers
4.2 Restraints
4.3 Opportunities
4.4 Challenges
5. Impact Analysis
5.1 Impact of Russia-Ukraine Crisis
5.2 Impact of Economic Slowdown on Major Countries
5.2.1 Introduction
5.2.2 United States
5.2.3 Canada
5.2.4 Germany
5.2.5 France
5.2.6 UK
5.2.7 China
5.2.8 Japan
5.2.9 South Korea
5.2.10 India
6. Value Chain Analysis
7. Porter’s 5 Forces Model
8. Pest Analysis
9. Average Selling Price
9.1 North America
9.2 Europe
9.3 Asia Pacific
9.4 Latin America
9.5 Middle East & Africa
10. Global Amorphous Polyethylene Terephthalate Market Segment, By Additive Types
10.1 Introduction
10.2 Trend Analysis
10.3 Chain Extender
10.4 Nucleating Agent
10.5 Stabilizer
10.6 Impact Modifier
10.7 Other
11. Global Amorphous Polyethylene Terephthalate Market Segment, By Application
11.1 Introduction
11.2 Trend Analysis
11.3 Bottles
11.4 Films/Sheets
11.5 Food Packaging
11.6 Others
12. Global Amorphous Polyethylene Terephthalate Market Segment, By End-Use Industry
12.1 Introduction
12.2 Trend Analysis
12.3 Food & Beverage
12.4 Pharmaceuticals
12.5 Others
13. Regional Analysis
13.1 Introduction
13.2 North America
13.2.1 USA
13.2.2 Canada
13.2.3 Mexico
13.3 Europe
13.3.1 Eastern Europe
13.3.1.1 Poland
13.3.1.2 Romania
13.3.1.3 Hungary
13.3.1.4 Turkey
13.3.1.5 Rest of Eastern Europe
13.3.2 Western Europe
13.3.2.1 Germany
13.3.2.2 France
13.3.2.3 UK
13.3.2.4 Italy
13.3.2.5 Spain
13.3.2.6 Netherlands
13.3.2.7 Switzerland
13.3.2.8 Austria
13.3.2.9 Rest of Western Europe
13.4 Asia-Pacific
13.4.1 China
13.4.2 India
13.4.3 Japan
13.4.4 South Korea
13.4.5 Vietnam
13.4.6 Singapore
13.4.7 Australia
13.4.8 Rest of Asia Pacific
13.5 The Middle East & Africa
13.5.1 Middle East
13.5.1.1 UAE
13.5.1.2 Egypt
13.5.1.3 Saudi Arabia
13.5.1.4 Qatar
13.5.1.5 Rest of the Middle East
13.5.2 Africa
13.5.2.1 Nigeria
13.5.2.2 South Africa
13.5.2.3 Rest of Africa
13.6 Latin America
13.6.1 Brazil
13.6.2 Argentina
13.6.3 Colombia
13.6.4 Rest of Latin America
14. Company Profiles
14.1 M&G Chemicals
14.1.1 Company Overview
14.1.2 Financial
14.1.3 Products/ Services Offered
14.1.4 SWOT Analysis
14.1.5 The SNS View
14.2 Indorama Ventures Public Company Limited
14.2.1 Company Overview
14.2.2 Financial
14.2.3 Products/ Services Offered
14.2.4 SWOT Analysis
14.2.5 The SNS View
14.3 Quadrant AG
14.3.1 Company Overview
14.3.2 Financial
14.3.3 Products/ Services Offered
14.3.4 SWOT Analysis
14.3.5 The SNS View
14.4 Reliance Industries Limited
14.4.1 Company Overview
14.4.2 Financial
14.4.3 Products/ Services Offered
14.4.4 SWOT Analysis
14.4.5 The SNS View
14.5 Nan Ya Plastics Corporation
14.5.1 Company Overview
14.5.2 Financial
14.5.3 Products/ Services Offered
14.5.4 SWOT Analysis
14.5.5 The SNS View
14.6 DAK Americas
14.6.1 Company Overview
14.6.2 Financial
14.6.3 Products/ Services Offered
14.6.4 SWOT Analysis
14.6.5 The SNS View
14.7 Polisan Holding
14.7.1 Company Overview
14.7.2 Financial
14.7.3 Products/ Services Offered
14.7.4 SWOT Analysis
14.7.5 The SNS View
14.8 Teijin Limited
14.8.1 Company Overview
14.8.2 Financial
14.8.3 Products/ Services Offered
14.8.4 SWOT Analysis
14.8.5 The SNS View
14.9 Sinopec Yizheng Chemical Fibre Company
14.9.1 Company Overview
14.9.2 Financial
14.9.3 Products/ Services Offered
14.9.4 SWOT Analysis
14.9.5 The SNS View
14.10 Jiangsu Sanfangxiang Group Co.
14.10.1 Company Overview
14.10.2 Financial
14.10.3 Products/ Services Offered
14.10.4 SWOT Analysis
14.10.5 The SNS View
14.11 Far Eastern New Century Corporation
14.11.1 Company Overview
14.11.2 Financial
14.11.3 Products/ Services Offered
14.11.4 SWOT Analysis
14.11.5 The SNS View
14.12 Plastiverd
14.12.1 Company Overview
14.12.2 Financial
14.12.3 Products/ Services Offered
14.12.4 SWOT Analysis
14.12.5 The SNS View
14.13 JBF Industries Ltd.
14.13.1 Company Overview
14.13.2 Financial
14.13.3 Products/ Services Offered
14.13.4 SWOT Analysis
14.13.5 The SNS View
14.14 Covestro AG
14.14.1 Company Overview
14.14.2 Financial
14.14.3 Products/ Services Offered
14.14.4 SWOT Analysis
14.14.5 The SNS View
14.15 INVISTA
14.15.1 Company Overview
14.15.2 Financial
14.15.3 Products/ Services Offered
14.15.4 SWOT Analysis
14.15.5 The SNS View
15. Competitive Landscape
15.1 Competitive Benchmarking
15.2 Market Share Analysis
15.3 Recent Developments
15.3.1 Industry News
15.3.2 Company News
15.3.3 Mergers & Acquisitions
16. Use Case and Best Practices
17. Conclusion
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