Global Amorphous Polyethylene Terephthalate Market - 2022-2029

Market Overview

Amorphous Polyethylene Terephthalate Market reached US$ YY million in 2021 and is expected to record significant growth by reaching up to US$ YY million by 2029, growing at a CAGR of 7.70% during the forecast period (2022-2029).

Amorphous polyethylene terephthalate films are rigid, thermal plastics from the polyester product family recognized for their excellent transparency, light handling and barrier properties. The superior impact strength, deep foaming capabilities, gas and water barrier properties, chemical resistance and toughness of amorphous polyethylene terephthalate are well known. Amorphous polyethylene terephthalate film is also non-toxic and recyclable, making it extremely eco-friendly. Because of its superior mechanical and physical properties, amorphous polyethylene terephthalate is increasingly being used for packaging carbonated soft drinks (CSD), juices and water; personal care products; and pharmaceuticals, among other products.

Market Dynamics

The amorphous polyethylene terephthalate market will be driven by the growing application of polymer-based packaging materials from the food and beverage market. However, changing environmental regulations and issues associated with the recyclability of amorphous polyethylene terephthalate restrict the market.

Growing application of polymer-based packaging materials from the food and beverage market

Globally, the popularity of packaged food products is increasing as people's lifestyles change. Amorphous polyethylene terephthalate is widely used in the packaging of food and beverages. The product offers high strength and stiffness, as well as clear visibility and low creep characteristics, making it ideal for use in food packaging applications. The food and beverage industry significantly uses amorphous polyethylene terephthalate bottles. As a result, the growing use of amorphous polyethylene terephthalate in the food and beverage end-use industry is fueling the global amorphous polyethylene terephthalate market. Furthermore, the food and beverage industry is among the largest end-users of amorphous polyethylene terephthalate beverage packaging, where amorphous polyethylene terephthalate is used to provide supplemental beverage packaging characteristics.

The growing utilization of amorphous polyethylene terephthalate packaging materials atop gray traditional packaging materials such as glass & plastic bottles, metal cans and liquid cartons is further fueling the global amorphous polyethylene terephthalate market. Amorphous polyethylene terephthalate has high impact resistance, barrier properties, stiffness, is resistant to chemicals and solvents and provides improved clarity. Amorphous polyethylene packaging materials are preferred by manufacturers of soft drinks, pharmaceuticals and alcoholic beverages over conventional packaging materials due to their flexibility, low cost and high innovation potential. Innovations in amorphous polyethylene terephthalate packaging manufacturing methods have expanded its application to a broader range of products.

Thus, rising disposable income, rapid urbanization and changing lifestyles are major factors driving the global food and beverage industry, which in turn drives the amorphous polyethylene terephthalate market. The increasing use of amorphous polyethylene terephthalate in various applications and growing preference for it from various end-use industries are expected to drive market growth soon.

Changing environmental regulations and issues associated with the recyclability of amorphous polyethylene terephthalate

Environmental regulations and restrictions for the packaging industry vary by country, making it difficult for businesses to adapt to these regulations. These environmental mandates have an impact on both manufacturers and the commercial sector. Globally, there is a growing market for biodegradable and environmentally friendly packaging materials. Commercial efforts are being made to ensure product packaging does not significantly increase costs. Retailers are also emphasizing the use of environmentally friendly raw materials in the production of packaging boxes and bags. The governments of Europe and North America have enacted stringent regulations governing the packaging industry, including container deposits, recycling rates and packaging levies.

The procedure of recouping waste plastic and remanufacturing it into useful products is known as plastic recycling. In the recycled market, transparent plastics are preferred, followed by white and colored plastics. Dark-colored plastics have a value greater than light-colored plastics within the colored category. EU regulations necessitate the selection of the appropriate pigment to meet the legal requirements of the specific application. In some applications, a specific pigment grade is required, whereas lower-cost replacements can be used in others. For example, using chrome yellow to color a polypropylene beach bat is prohibited if the product is categorized as a toy. This pigment, however, would be acceptable if it were defined as sports equipment. As a result, it is difficult to strike a balance between cost, regulatory mandates and application requirements when recycling plastic products, particularly amorphous PET products. Therefore, changing environmental regulations and issues associated with the recyclability of amorphous polyethylene terephthalate act as market restraints.

COVID-19 Impact Analysis

During its initial waves, the pandemic COVID-19 had a negative impact on the global amorphous polyethylene terephthalate market because amorphous polyethylene terephthalate production was disrupted and industrial-scale synthesis of amorphous polyethylene terephthalate requires enormous machinery, large-scale industrial reagents and skilled workers. Industry shutdowns and social distancing prerequisites severely hampered production during the pandemic. The COVID-19 pandemic's global lockdown hindered both the supply of materials and the supply of finished products. As a result, the amorphous polyethylene terephthalate market's demand-supply dynamics were severely impacted.

Investment losses, a lack of liquidity, labor scarcity, supply chain restrictions and overall global economic uncertainty weigh on industrial and construction sector growth. Many countries, including India, China and U.S., have reopened their economies and resumed industrial activity, albeit with a limited workforce and materials. Major market participants reduce risk by emphasizing local management and focusing on untapped market opportunities. The market for amorphous polyethylene terephthalate is expected to expand due to rising demand in its primary end-user industry, food and beverages, where it is used at a far higher rate than in any other industry.

Because governments have prohibited using single-use plastic products in selling fast foods, demand for amorphous polyethylene terephthalate in the food and beverage industry is expected to boost further post-pandemic.

Segment Analysis

The global amorphous polyethylene terephthalate market is classified based on application, end-user and region.

Outstanding properties such as exceptional moisture and gas barrier and tensile properties boost its application as packaging material in the food and beverage market.

Amorphous polyethylene terephthalate is a polyester product that is strong, durable and environmentally friendly, with extremely high clarity and improved water barrier properties. Amorphous polyethylene terephthalate is used in the food and beverage industry to make bottles for carbonated soft drinks, alcoholic beverages, packaging water and other edibles. Amorphous polyethylene terephthalate is generally clear and translucent, with a thickness range of 0.030 inches available depending on the application.

Because amorphous polyethylene terephthalate has outstanding properties such as exceptional moisture and gas barrier properties and tensile properties, its application in the food and beverage industry is growing. As a result of the growing application of amorphous polyethylene terephthalate in the food and beverage industry, particularly in the Asia-Pacific region, demand for amorphous polyethylene terephthalate is expected to rise in the coming years.

Geographical Analysis

Growing population and urbanization in Asia-Pacific and associated growth in end-user verticals such as food & beverages and pharmaceuticals

Because of the high demand from countries such as China, India and Japan, the Asia-Pacific region is expected to dominate the market for amorphous polyethylene terephthalate. Asia-Pacific is home to the world's largest producers of amorphous polyethylene terephthalate, including Shahid Tondgooyan Petrochemical Co, Reliance Industries Limited and LOTTE Chemical CORPORATION.

Aside from the food and beverage industries, amorphous polyethylene terephthalate is used in pharmaceutical blister packaging, clamshell packaging and other applications. In India, approximately 296 cold chain projects in food processing were approved in 2019, broadening the scope of amorphous polyethylene terephthalate's application in packaging applications. The Chinese pharmaceutical industry, valued at approximately US$ 145 billion, represents the largest emerging market, with the applicability of blister packaging where amorphous polyethylene terephthalate is used. The aforementioned factors, combined with government support, drive the demand for Amorphous polyethylene terephthalate during the forecast period.

Competitive Landscape

The global amorphous polyethylene terephthalate market is extremely diverse and competitive due to the presence of major players such as Reliance Industries Limited, Indorama Ventures Public Company Limited, Quadrant AG, Plastiverd, Sinopec Yizheng Chemical Fibre Company, Teijin Limited, Lotte Chemicals, BASF SE, Eastman Chemicals Company, Dow Chemicals Company, Covestro AG, NOVApolyethylene terephthalate and INVISTA. The market is fragmented and pivotal market stakeholders use market tactics such as mergers, acquisitions, product launches, contributions and collaborations to gain a competitive advantage and recognition in their respective markets.,

BASF SE

Overview: BASF SE is a global chemical company that produces chemicals for a variety of industries. BASF SE is one of the world's largest publicly traded companies, with over 700,000 stockholders. Transportation, chemicals, construction, electronics & electric, energy & resources, furniture & wood, home care and cleaning, agriculture and other industries comprise the company's product line. More than 30 BASF SE Group companies are headquartered in Ludwigshafen. BASF SE operates 6 global locations and 241 additional industrial sites in over 90 countries.

Product Portfolio:

Petra 230 BK112: Petra 230 BK112 is a polyethylene terephthalate injection molding compound that is 35% mineral, glass fiber reinforced and black-pigmented. The product has excellent performance properties, including high stiffness and strength with ductility at high temperatures. The advantages of temperature, chemical resistance, dimensional stability and warp resistance. Petra 230 BK112 is commonly used in applications such as automobiles door locks, gears, housings and electrical and mechanical components

Key Development:

BASF SE announced a price increase for Petra, Capron, Ultramid, Nypel and Ultradur grades in North America on February 2, 2022, effective February 15, 2022, as contract terms allow.

Why Purchase the Report?

• To visualize the global amorphous polyethylene terephthalate market segmentation based on application, end-user and region, as well as understand key commercial assets and players.
• Identify commercial opportunities in the global amorphous polyethylene terephthalate market by analyzing trends and co-development.
• Excel data sheet with numerous data points of amorphous polyethylene terephthalate market-level with four segments.
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• Product mapping available as excel consisting of key products of all the major market players

The global amorphous polyethylene terephthalate market report would provide approximately 62 tables, 58 figures and almost 151pages.

Dispersion Type Audience 2023

• Manufacturers/ Buyers
• Industry Investors/Investment Bankers
• Research Professionals
• Emerging Companies