Global Amorphous Polyethylene Terephthalate Market Report and Forecast 2024-2032

Global Amorphous Polyethylene Terephthalate Market Outlook

The global amorphous polyethylene terephthalate market size was approximately USD 46.30 billion in 2023. The market is further projected to grow at a CAGR of 7.0% between 2024 and 2032, reaching a value of USD 86.04 billion by 2032.

Key Trends in the Market

Thermally stiff polymers that are part of the polyester product family are called APET (Amorphous Polyethylene Terephthalate) films. This material is transparent and perfect for usage for the advertising applications because of its superior mechanical qualities, high impact resistance, and great vacuum formability. A-PET is renowned for having superior electrical insulating qualities, it can withstand temperatures ranging from -60°C to 130°C.

• The increase in sustainability initiatives by different countries place an emphasis on PET applications. Additionally, advancements in PET recycling technologies such as sorting technologies, depolymerisation, and enzymatic recycling contributes to the increased amorphous polyethylene terephthalate market demand.

• As PET is 100% recyclable and highly sustainable, PET films are predominantly used in the packaging industry, for packaging different materials such as water bottles, and consumer or household goods, such as microwave containers.

• PET is primarily used in the production of soft drinks and health drinks, among other beverages. Rising disposable incomes and consumer preferences for bottled beverages owing to increasing concerns about hygiene are aiding the market growth.

Amorphous Polyethylene Terephthalate Market Segmentation

The report analyses the application, end use industry, and regional segments of the market. Based on application, the market is segmented into bottles, films/sheets, and clam shell packaging, among others. On the basis of end use industry, the market can be divided into food and beverages, pharmaceuticals, and consumer goods, among others. The major regional markets for amorphous polyethylene terephthalate are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis. The report gives a detailed analysis of the following key players in the global amorphous polyethylene terephthalate market, covering their competitive landscape and latest developments like mergers, acquisitions, investments, and expansion plans.

• 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

Market Share by End Use Industry

As per the amorphous polyethylene terephthalate market analysis, the food and beverage sector accounts for a significant share in the market. PET packaging is safe to use for food and beverage items because when exposed to moisture, PET packaging material, as opposed to other materials (like cardboard), allows boxes to maintain their shape and integrity. PET can be used to make boxes in basic shapes like cubes or rectangles, as well as unusual shapes like pyramids, purses, or custom sizes. This versatility enables product producers to customise their packaging to best represent their brand or message, boosting the amorphous polyethylene terephthalate market growth.

Increasing consumer demand for ready-to-eat meals and the growing popularity of food carts, small food joints, and takeaways from cafes and restaurants are further boosting the market expansion.

Market Share by Region

The market in the Asia Pacific is growing as a result of the expansion of the food and beverage sector. Rising urbanisation, increasing disposable income, and the demographic dividend support the shift in consumer preferences. The growing demand for packaged, ready-to-eat food, and healthy beverage options are further influencing the amorphous polyethylene terephthalate market share as polyethylene terephthalate is crucial to the packaging of these foods and beverages.

Polyethylene terephthalate finds widespread applications in medical devices, including implanted components and sutures. The emerging markets for pharmaceuticals such as India and China are further boosting the product demand due to the material’s impact strength and deep foaming capabilities.

Competitive Landscape

Lotte Chemical Corp., founded in 1976, is a leading chemical manufacturing company that produces various chemicals, including synthetic resins, that are used to make a wide range of industrial goods. The company offers PET with different grades, including cool, hot, ace, and bio, among others, that find applications in different industries, such as thermal-resistant containers (for juice, tea, and drinks) for the food and beverage industry and pharmaceutical sector, among others. The company has its shares listed on the Korea Stock Exchange with ticker symbol (KRX: 011170).

Zhejiang Zhink Group Co., Ltd., founded in 1997, has set up production bases for PET upstream to downstream industrial chains in Jinhua, Fuling, and Haining. With a production capacity of 2.4 million metric tons of bottle-grade chips in 2022, it ranked second in China.

Covestro AG is a German cooperation that manufactures raw ingredients for polycarbonate and polyurethane. The products include polyols and isocyanates for cellular foams, pellets of thermoplastic polyurethane and polycarbonate, and additives based on polyurethane that are utilised in coatings and adhesive formulations. The company has its shares listed on NASDAQ Stock Exchange with ticker symbol 1COV (ETR: 1COV).

Other key players in the amorphous polyethylene terephthalate market include Alpec SAB CV (OCTAL), MPI Polyester Industries Sdn Bhd, UAB “NEO GROUP”, SA Minera Catalano Aragonesa (NOVAPET, S.A.), Sinopec Yizheng Chemical Fibre Co. Ltd., Polisan Holding AS, and Reliance Industries Ltd., among others.

Key Highlights of the Report