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. 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.
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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.
Among end-use industries, the food & beverages segment is estimated to account for the largest share of the amorphous polyethylene terephthalate (APET) market in terms of value. The food & beverages segment of the market is projected to grow at the highest CAGR in terms of value during the forecast period. Changing lifestyle of masses and busy schedules of the working class population across the globe have changed eating preferences of people, who resort to ready-to eat-food items. These factors are expected to contribute to the growth of the food & beverages end-use industry segment of the amorphous polyethylene terephthalate (APET) market between 2017 and 2022.
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The Asia Pacific, European, and North American regions are significant markets for amorphous polyethylene terephthalate. The Asia Pacific region is projected to lead the amorphous polyethylene terephthalate (APET) market in 2017 in terms of value. It is expected to be followed by the European region. The Asia Pacific amorphous polyethylene terephthalate (APET) market is projected to grow at the highest CAGR in terms of value during the forecast period. Increasing population, improving purchasing power of consumers, and changing food habits of masses in the Asia Pacific region are major factors expected to contribute to the growth of the Asia Pacific amorphous polyethylene terephthalate (APET) market during the forecast period.
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