Amorphous Polyethylene Terephatalate Market worth $59.1 billion by 2026 | Key players Alpek (Mexico), Jiangsu Sanfangxiang Group Co., Ltd. (China), Far Eastern New Century Corporation (Taiwan).

According to recent market research the "Amorphous Polyethylene Terephatalate Market by Application (Bottles, Films/Sheets, Food Packaging), End-use Industry (Food & Beverage, Pharmaceutical) and Region (APAC, North America, MEA, Europe, South America) - Global Forecast to 2026", size is estimated at USD 41.4 billion in 2021 and is projected to reach USD 59.1 billion by 2026, at a CAGR of 7.4%, between 2021 and 2026. Growth in the amorphous polyethylene terephthalate market can primarily be attributed to the increasing use for packaging carbonated soft drinks (CSD), juices, and water; personal care products; and pharmaceuticals; among other products, due to superior mechanical and physical properties offered by it. It is used in various end-use industries, such as pharmaceuticals and food & beverage. The shifting of the manufacturing bases of various companies to the Asia Pacific region has also contributed to the increased demand for amorphous polyethylene terephthalate from this region, thereby fueling the growth of the global amorphous polyethylene terephthalate market.

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Based on application, the market is segmented into bottles, films/sheets, and food packaging, and others. Because of its high transparency, which is like that of glass, amorphous PET is utilized in the manufacture of bottles and packaging.
Based on end-use industry, the market is segmented into food & beverage, pharmaceutical, and others. The food & beverage end-use industry segment led the market in terms of both value and volume. Amorphous polyethylene terephthalate is being increasingly used for packaging carbonated soft drinks (CSD), juices, and water.

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The Asia Pacific region is projected to be the largest market, in terms of value. Asia Pacific is also expected to grow at the highest CAGR during the forecast period. The growth of Asia Pacific region can be attributed to the high economic growth rate of the region and different food habits of people across different countries of the region. In addition, the growing population of the region presents a huge customer base for fast-moving consumer goods (FMCG) products and packaged food & beverages, which, in turn, is expected to lead to the growth of the amorphous polyethylene terephthalate market during the forecast period. Owing to the increasing income of people in this region, the demand for high-end packaging products for food & beverage, and pharmaceutical, has been growing rapidly. Apart from the food & beverage industry, the region also exhibits significant opportunities in the packaging industry, which is expected to drive the market.

Indorama Ventures Public Company Limited (Thailand), Alpek (Mexico), Jiangsu Sanfangxiang Group Co., Ltd. (China), Far Eastern New Century Corporation (Taiwan), and DAK Americas (US) are key players in amorphous polyethylene terephthalate market.

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Indorama Ventures Public Company Limited, based in Thailand, is one of the world's largest petrochemicals producers, having production facilities throughout Africa, Asia Pacific, Europe, and the Americas. Integrated PET, Integrated Oxides and Derivatives, Fibers, Packaging, and Specialty Chemicals are all part of its offering. Indorama Ventures products are used in the beverage, hygiene, personal care, tire, and safety divisions of the Fast-Moving Consumer Goods (FMCG) and automotive industries. It has three business segments, namely, integrated oxides and derivatives; combined pet; and fibers. As of June 2021, it has a presence in 33 countries and owns 124 manufacturing facilities in 6 continents.

Alpek is one of the leading petrochemical companies in the Americas and one of the largest integrated PTA and PET producers worldwide. Alpek thrives while leading by example on recycling and sustainability efforts necessary for a healthy environment and is uniquely positioned as a primary participant in the circular economy. Alpek leads comprehensive efforts to foster a fully circular lifecycle for PET and the rest of its products. The company has 32 manufacturing plants across seven countries, which comprises an installed capacity of 8.2 million tons.

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