Polyethylene Terephthalate (PET) is one of the common thermoplastics belonging to the polyester family. The transparent polymer can be converted into a colored product for esthetics. Polyethylene terephthalate is manufactured in two forms: crystalline and amorphous. Amorphous PET (APET) possesses excellent optical clarity and high strength. It does not react with several common solvents. It is primarily utilized in food packaging due to water and moisture barrier materials. The polymer can be recycled and thus can be considered eco-friendly. It can be used in the temperature range of -40°C to +70°C.
The global APET market can be segmented based on grade, application, end-use industry, and region. APET is manufactured in virgin or recycled grade. Recycled APET is primarily employed in food packaging. In terms of application, the APET market can be divided into bottles, food packaging, and films. APET bottles are used for mineral water, carbonated soft drinks, and ready-to-eat tea and coffee. Food packaging can be further sub-divided into cups, trays, containers, and lids. APET films are employed in the automotive sector, credit cards, embossed overlays, medical packaging, and the printing industry. APET is used in end-use industries such as food & beverages, packaging, medical, automotive, electronics, and others. The packaging segment can be sub-divided into food packaging and non-food packaging. APET is used in packaging of food materials such as soft drinks bottles, ready-to-eat food, confectionery, cheese & dairy products, and others. Non-food packaging application includes household packaging, personal care & cosmetic articles, luxury gifts, and others. APET is employed in table & capsule packaging in the medical industry. It is used in gear housings, seat & engine covers, and wipers in the automotive industry. Based on region, the APET market can be segmented into Asia Pacific, Europe, Middle East & Africa, North America, and Latin America.
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High strength, lightweight, optical clarity, inertness, and stiffness are factors driving the APET market. The recyclable property is also anticipated to boost the APET market. In terms of applications, the bottles segment is anticipated to dominate the APET market during the forecast period. APET bottles are clear and inert. Thus, demand for APET bottles is increasing in packaging of soft drinks. In terms of end-use industry, the packaging segment is expected to dominate the market in the next few years. APET provides effective barrier against water, nitrogen, oxygen, and carbon dioxide. Furthermore, it has low flavor absorption properties. Therefore, APET can be employed in modified atmosphere packaging. Thus, demand for APET is rising for food packaging applications.
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North America is expected to account for significant share of the market during the forecast period. High consumption of carbonated drinks and ready-to-eat food products is boosting the APET market in the region. Demand for APET in Asia Pacific is rising at a rapid pace. Increase in consumption of FMCG and packaged food materials is propelling the APET market in Asia Pacific. The APET market in Middle East & Africa and Latin America is likely to expand at a sluggish pace during the forecast period.
Major players operating in the global APET market include Invista, Reliance Industries Ltd., M&G Chemicals SA, Teijin Ltd., and The Quadrant Group of Companies.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers’ or customers’ journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
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