Growing production of dairy products, confectionaries and soft drinks owing to the rapid increase in their demand is driving the growth of the Amorphous Polyethylene Terephthalate Market.

The Amorphous Polyethylene Terephthalate Market size is observed to grow at a CAGR of 7.5% during the forecast period 2022-2027 and will reach an estimated revenue of US$62.8 billion by 2027. Thermal rigid plastic like Amorphous Polyethylene Terephthalate has good heat, impact & oil resistance and excellent transparency which makes them excellent barriers against external factors. Owing to its toughness and high resistance, such polyester product finds ideal usage in the food & beverage sector in packaging applications of various food & beverage items such as soft drinks, dairy products, juices and confectionaries such as chocolates. The rapid growth of the younger population and improvement in living standards has increased the consumption of such items, thereby increasing their production. For instance, according to European Cocoa Association, in Q3 of 2021, cocoa production saw an 8.7% increase owing to the high demand and consumption of chocolates. The growing production of cocoa has increased chocolate production, resulting in more usage of APET for packaging of such food items which is primarily contributing to the market growth of amorphous polyethylene terephthalate. The amorphous polyethylene terephthalate market size is observed to grow at a CAGR of 7.5% during the forecast period 2022-2027 and will reach an estimated revenue of US$62.8 billion by 2027.

Amorphous Polyethylene Terephthalate Market: Leading Segment is Food & Beverages

Based on the end-use industry, the Amorphous Polyethylene Terephthalate market is segmented into food & beverage, pharmaceuticals, cosmetics & personal care and others. The amorphous polyethylene terephthalate market’s leading segment is food & beverages and this segment is expected to grow at a CAGR of 7.9%. This can be attributed to factors such as bolstering the growth of production and consumption of soft drinks and dairy products such as milk. For instance, according to the United States Department of Agriculture, in 2021, milk production in the US stood at 226 billion pounds showing a 1.3% increase in production. Furthermore, according to the Union of European Beverage Association, in 2019, soft-drink sales volume stood at 120,067.3 million liters, showing a 1.5% increase in consumption scale. With such an increase in production & consumption of major food & beverage items, the demand for APET plastic for packaging applications has also accelerated, thereby driving its market growth.

Amorphous Polyethylene Terephthalate Market: Leading Segment in Asia-Pacific

Based on geography the Amorphous Polyethylene Terephthalate market can be segmented into North America, South America, Europe, APAC and the Rest of the World. According to the analysis, in 2021, the Asia-Pacific region emerged as the most profitable region in the market and held a 42% share of the total revenue earned by the market globally. The Asia-Pacific countries such as China, India, Japan and Australia are experiencing significant growth in their F&B sector owing to major development undertaken by the governments which have increased the production volume in the sector. According to the Food and Agriculture Organization Corporate Statistical Database, in 2020, India’s milk production stood at 209 million tons, showing a 5.5% increase from 2019. Furthermore, according to China’s Ministry of Industry and Information Technology, in 2021, beverage producers in the country saw a 12% increase in output. Owing to such growing productivity in major Asia-Pacific countries, the demand and usage of amorphous polyethylene terephthalate have also increased in the region thereby driving its market growth. 

Amorphous Polyethylene Terephthalate Market: Competitive Landscape

Key companies holding a major share in the Amorphous Polyethylene Terephthalate market are Indorama Ventures Public Company Limited, JBF Industries Ltd, Reliance Industries Limited, M&G Chemicals, Quadrant AG, Jiangsu Sanfangxiang, DAK Americas, PolyQuest, MPI Polyester Industries, Covestro AG.