Amorphous Polyethylene Terephthalate Market Segmentation
By Application (Food Packaging [Lids, Cups, and Trays], Bottles, Films/Sheets), By Industry (Industrial Machinery, Automotive, Construction, Packaging, Electrical & Electronics, and Material Handling), By Region (North America, Europe, Asia Pacific, Central & South America, and Middle East & Africa), End-use Landscape, Vendor Landscape and Competitive Landscape
Amorphous Polyethylene Terephthalate Market Insights
The global amorphous polyethylene terephthalate market is expected to grow at a significant rate over the forecast period mainly due to the rising demand for beverages and growing usage in food packaging.
The rising demand for the amorphous polyethylene terephthalate for packaging of beverages is expected to be the key factor to foster market growth. The bottles manufactured by PET possess a number of features such as light-weight, easy to handle and unbreakable. Along with this, the compound is recyclable and thus can be used again in the form of door panels, fibres and car bumpers.
The raw materials that are used in PET such as lubricants, plastic additives and polymers are all produced through petrochemical processes. This is expected to increase the overall production cost of the PET. This serves as a barrier to the growth of the industry over the forecast period.
Amorphous Polyethylene Terephthalate Market: Application Insights
On the basis of application, the amorphous polyethylene terephthalate market is segmented according to bottles, films/sheets, and food packaging. The bottles and food packaging segment are anticipated to hold the largest share mainly due to the rising trend of bottled beverages and food packaging applications. The various factors of amorphous polyethylene terephthalate such as excellent strength, Light weight and durability are expected to attribute for further growth.
The market for sheets and films amongst others is also expected to register a significant growth rate over the forecast period due to the increasing demand for microwave compatible containers by consumers all around the globe.
Amorphous Polyethylene Terephthalate Market: Industry Insights
PET finds application in packaging, electrical & electronics, industrial machinery, automotive, construction and material handling industries. Out of these, the packaging industry is anticipated to record the highest growth over the forecast period owing to the increasing production of bottles mainly for drinks and carbonated beverages.
The electronics industry is also expected to have a shift towards the use of PET due to its properties such as durability, flexibility and light weight. These properties are anticipated to make PET ideal for manufacturing wires, sockets and switches and thereby stimulate market growth.
PET’s application in automotive industries is projected to rise over the coming years. It is used in manufacturing synthetic fibres which is further used in making seat & engine covers, wiper arm and gear housings.
Amorphous Polyethylene Terephthalate Market: Regional Insights
Asia-Pacific has occupied the largest market share for this product since the past few years. This can be attributed to the growing consumer awareness for recyclable products coupled with the increasing number of automotive and electronics industry in India and China.
The market in Latin America is also expected to grow significantly owing to the rising consumer inclination towards processed and packaged food. Demand is expected to arise from Brazil and Mexico due to the increased investment in construction and automotive industries.
Europe & America are projected to have increased growth in the market on account of the growing automotive industries coupled with pressure by government agencies such as REACH for usage of eco-friendly PET products.
Amorphous Polyethylene Terephthalate Market: End-Use Landscape
The end-use landscape entails a list of current and prospective consumers prevailing across the regions. This section provides company addresses, contact details, products, and regional presence of companies who are purchasing or are likely to purchase PET products. Some leading consumers of the product are Toyota Motor (Japan), Bechtel (The U.S.), PepsiCo, Inc. (The U.S.), Balfour Beatty (UK) and Volkswagen Group (Germany).
Amorphous Polyethylene Terephthalate Market: Competitive Landscape
The global market for this product is expected to be significantly large due to the presence of numerous manufacturers. The key players include Petrotemex S.A. de C.V. (Mexico) Dow Chemical Company (The U.S.), Quadrant (Switzerland), RTP Company (The U.S.) and La Seda de Barcelona (Spain).
In October 2017, it was confirmed that the AMUT Group would present its washing plants for polyethylene terephthalate (PET), high-density polyethylene (HDPE) and polypropylene (PP) plastics as well as it urban and industrial waste sorting equipment at Ecomondo in Rimini.
In October 2017, DuPont announced a new DuPont™ Rynite® grade for the electric and electronic industries and a new laser transparent black DuPont™ Zytel® grade. The Rynite® FR533NH is a resin that would offer improved performance capabilities in electric and electronic applications. It is expected to represent the company’s first halogen-free polyethylene terephthalate (PET) resin for electrical component applications.
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