Amorphous Polyethylene Terephthalate Market Analysis, Research, Share, Growth, Sales, Trends, Supply, Forecast to 2023
Market Overview Amorphous polyethylene terephthalate (APET) is a thermoplastic sheet manufactured through extrusion of polyethylene terephthalate (PET). Amorphous polyethylene terephthalate offers excellent clarity, gloss, and mechanical and thermoforming characteristics. It is an effective barrier to oxygen, nitrogen, and carbon dioxide, thereby, suitable for modified atmosphere packaging (MAP). The increasing demand for amorphous polyethylene terephthalate from the food & beverage industry is the major driver of the global amorphous polyethylene terephthalate market. The use of APET in food & beverage packaging is increasing due to the high chemical and solvent resistance, which helps in ehancing shelf life of the food. The increasing demand for ready-to-go food products due to the changing consumption pattern is expected to drive the market growth during the assessment period. Furthermore, it is used in pharmaceutical packaging owing to the anti-bacterial properties, which protect them from spoilage. The substitution of traditional packaging materials such as metals with amorphous polyethylene terephthalate on account of its recyclable nature is expected to fuel the market growth further. Moreover, it has been approved by the U.S. Food and Drug Administration for food packaging, which will further augment the market growth over the review period. Additionally, increasing demand for APET from various other industries such as textile, automotive, and electronics due to its high tensile strength and lightweight is expected to fuel the product demand. Therefore, increasing demand for efficient and lightweight automotive and electronics, and various regulations pertaining to limit the carbon dioxide and GHG emission are projected to drive the global market growth.