The report studies the market covering a period of 12 years of trend and forecast. The report provides detailed insights into the market dynamics to enable informed business decision making and growth strategy formulation based on the opportunities present in the market.
Amorphous Polyethylene Terephthalate (APET) Market is likely to witness an impressive CAGR of 7.0% during the forecast period.
Based on the application type, the market is segmented as bottles, films/sheets, food packaging, and others. Bottles are estimated to be the fastest-growing segment of the market during the forecast period. Amorphous polyethylene terephthalate offers high malleability and inert nature, due to which its usage has been increased to manufacture bottles, which are lightweight, clear, and tough. The other major factor fueling the market growth during the forecast period is the increasing use of amorphous polyethylene terephthalate bottles for packaging carbonated soft drinks, pharmaceuticals, and energy drinks.
Based on the end-use industry type, the amorphous polyethylene terephthalate market is segmented as food & beverages, pharmaceuticals, dairy, automotive, textiles, and others. Food & beverages is expected to be the fastest-growing segment of the market during the forecast period. There has been an increase in the demand for bottles, containers, trays, and other things manufactured from amorphous polyethylene terephthalate for packaging food products from the food & beverages industry. Moreover, change in lifestyle of the masses and busy schedule of the working class population, globally are also fueling the consumption of ready-to-eat food products, which in turn, is leading to the increase in demand for packaging materials made from APET, thereby driving the growth of the food & beverages end-use industry segment of the market.
In terms of regions, Asia-Pacific is expected to be the largest as well as the fastest-growing market for amorphous polyethylene terephthalate during the forecast period, with China, India, South Korea, and Australia being the major countries with lucrative growth opportunities. Factors such as growing population and improving economic conditions are driving the growth of the food & beverages industry in APAC, which is eventually fueling the growth of the amorphous polyethylene terephthalate market in the region. Europe and North America are also expected to offer substantial growth opportunities during the forecast period.
Features of the Report
This report offers high-quality insights and is the outcome of detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders and validation and triangulation with Stratview Research’s internal database and statistical tools.
The Amorphous Polyethylene Terephthalate Market analysis report discusses the following heads in great detail:
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