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According to the new market research report “Amorphous Polyethylene Terephthalate Market by Application (Bottles, Films/Sheets, Food Packaging), End-use Industry (Food & Beverages, Pharmaceuticals), Region (North America, Europe, Asia Pacific, South America, Middle East & Africa) – Global Forecast to 2022″, The amorphous polyethylene terephthalate (APET) market is estimated to be USD 28.86 Billion in 2017 and is projected to reach USD 40.85 Billion by 2022, at a CAGR of 7.2% during the forecast period from 2017 to 2022.
The growth of the amorphous polyethylene terephthalate (APET) market can be attributed to the increasing demand for packaging materials manufactured from amorphous polyethylene terephthalate from the food & beverages industry. Moreover, the increasing purchasing power of consumers, changing lifestyle and food habits of masses, and growing popularity of ready-to-eat food items across the globe are also fueling the growth of the amorphous polyethylene terephthalate (APET) market.
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Polyethylene terephthalate (PET) is classified as a semi-crystalline polymer, but when it is heated above a temperature of 72°C, it changes from a rigid/glass-like state to a rubbery elastic form. The polymer molecule chains in this form can be stretched and aligned in one or two directions. When it is melted, the material is cooled quickly, while still being held in the stretched state. The chains are frozen without changing their orientation, thereby resulting in the formation of amorphous polyethylene terephthalate. Amorphous polyethylene terephthalate is extremely tough and confers properties present in a typical polyethylene terephthalate (PET) bottle.
Among applications, the bottles segment is estimated to account for the largest share of the amorphous polyethylene terephthalate (APET) market in 2017 in terms of value. The growth of the bottles segment of the amorphous polyethylene terephthalate (APET) market can be attributed to the increased demand for bottles made of amorphous polyethylene terephthalate from the food & beverages and pharmaceuticals end-use industries for packaging applications.
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The amorphous polyethylene terephthalate (APET) market is estimated to be USD 28.86 Billion in 2017 and is projected to reach USD 40.85 Billion by 2022, at a CAGR of 7.2% during the forecast period from 2017 to 2022. The growth of the amorphous polyethylene terephthalate (APET) market is mainly driven by the growing demand for amorphous polyethylene terephthalate packaging materials from the food & beverages industry. The increasing purchasing power of consumers, changing lifestyle and food habits of masses, and growing demand for ready-to-eat food items across the globe are the major factors fueling the growth of the amorphous polyethylene terephthalate (APET) market. Some of the key players in the amorphous polyethylene terephthalate (APET) market are Reliance Industries Limited (India), Indorama Ventures Public Company Limited (Thailand), Covestro AG (Germany), Far Eastern New Century Corporation (Taiwan), M&G Chemicals (Luxembourg), Jiangsu Sanfangxiang Group Co., Ltd. (China), JBF Industries Ltd. (India), Nan Ya Plastics Corporation (Taiwan), Polisan Holding (Turkey), DAK Americas (Mexico), INVISTA (US), Sinopec Yizheng Chemical Fibre Company Limited (China), PlastiVerd (Spain), Quadrant AG (Switzerland), Teijin Limited (China), NOVAPET S.A. (Spain), OCTAL (Oman), UAB NEO GROUP (Lithuania), Shahid Tondgooyan Petrochemical Company (Iran), China Resources Packaging Materials Co., Ltd. (China), MPI Polyester Industries (Malaysia), Lotte Chemicals (South Korea), Petro Polymer Shargh (Iran), Equipolymers (Germany), and Dhunseri Petrochem Limited (India).
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Indorama Ventures Public Company Limited (Thailand) is one of the leading producers of amorphous polyethylene terephthalate in the world. It has a large customer base and a global presence. In July 2017, Indorama Ventures Public Company Limited completed the expansion of its brownfield project of purified terephthalic acid (PTA) plant in Spain to increase its production capacity to over 1 million tons of purified terephthalic acid (PTA) per annum. This expansion is expected to scale up the commercial production of polyethylene terephthalate by the company. In September 2016, Micro Polypet Private Limited (MicroPet) (India), which is a polyethylene terephthalate company of Indorama Ventures Public Company Limited (IVL) (Thailand), entered into a joint venture with Dhunseri Petrochem Ltd. (India) and acquired 50% stake in Dhunseri Petglobal Ltd. (which is a subsidiary of Dhunseri Petrochem Ltd.). It enabled the company to retain a competitive market position in the Asian polyethylene terephthalate resin market.
The Far Eastern New Century Corporation (FENC) (Taiwan) is another leading producer of amorphous polyethylene terephthalate in the world. It offers products for various end-use application markets. In April 2013, the company entered into a joint venture with Ishizuka Glass Co., Ltd. (Japan) to establish Far Eastern Ishizuka Green PET Corporation (Japan) to carry out production and distribution of its recycled polyethylene terephthalate (R-PET) in the country.
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