Market Trends of Amorphous Polyethylene Terephthalate Industry
Food & Beverage Industry to Dominate the Market
- Amorphous Polyethylene Terephthalate (APET) is non-toxic, therefore it is a popular choice for food and drinks packaging. Apart from that, it possesses various performance characteristics such as high gloss, durability and toughness, good gas barrier properties, good chemical resistance, low moisture absorption, food compatibility, and fully recyclable.
- In the food & beverage industry, amorphous PET finds application in making bottles for packaging water, carbonated soft drinks, alcoholic beverages, and other edibles. APET is generally clear and translucent, available up to a thickness range of 0.030 inches depending upon the application.
- Amorphous PET has superior properties like outstanding moisture barrier properties, and tensile properties due to which its application in the food & beverage industry has been increasing.
- Asia-Pacific is expected to have the highest demand for Food and Beverage, which is expected to increase by 5.5% in 2024 in the region. It is followed by the European region, according to the Oxford Economic Report. These factors are likely to propel the demand for A-PET the globe in the coming years.
- Food packaging is also a major consumer of release liners in the region. The European food and Drink industry reached EUR 1.1 trillion in 2023 (USD 1.21 trillion), with a value addition of EUR 229 billion (USD 252.73 billion), according to the FoodDrinkEurope.
- Apart from that, in the North America several beverage manufacturers have announced several capacity additions. For instance, in March 2024, juice manufacturer Uncle Matt鈥檚 Organic announced that it had opened a new manufacturing facility in Texas, United States, to meet the growing demand for packed juices. This is likely to support the demand for A-PET.
- Hence, owing to the growing application of Amorphous PET in the food & beverage industry in different regions worldwide, the demand for Amorphous PET is expected to increase over the forecast period.
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Asia-Pacific Region to Dominates the Market
- Asia-Pacific region is expected to dominate the market for amorphous PET during the forecast period. It is majorly owing to the rapidly increasing food & beverage production in India and China.
- The largest producers of amorphous PET are located in the Asia-Pacific region. Some of the leading companies in the production of amorphous PET are Shahid Tondgooyan Petrochemical Co, Reliance Industries Limited, LOTTE Chemical CORPORATION, MPI Polyester Industries, and OCTAL.
- China is one of the largest consumers of food and beverages, and the food processing industry continues to expand in view of the growing population and rising demand for healthy and tasty packaged foods.
- According to the Institute of Export and International Trade (IOE&IT), the leading association of exporters and importers, in 2023, China鈥檚 food and drink market is estimated to record USD 1.5 trillion, whereas the beverages industry is estimated to record about USD 91.2 billion.
- According to the All India Food Processors Association, India's food and beverage packaging industry is expected to reach USD 86 billion by 2029, driven by rising disposable incomes, evolving consumption patterns and urbanisation,
- The Ministry of Food Processing Industries (MoFPI), India introduced several programs, The Production Linked Incentive Scheme for Food Processing Industry (PLISFPI), with an outlay of INR 10,900 Cr (USD 1.30 billion) implemented from 2021-22 to 2026-27 for enhancing India鈥檚 manufacturing capabilities. The scheme aids in enhancing industry capacity, incentivising strong Indian brand growth, and increasing the global presence of Indian food brands.
- The factors above are contributing to the increasing demand for amorphous polyethylene terephthalate consumption in the Asia-Pacific region.
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