Press release
Global Amorphous Polypropylene Terephatalate Market 2024 : Trends, Business Growth And Major Driving Factors | Jiangsu Sanfangxiang Group Co. Ltd., DAK Americas LLC, Teijin Ltd., M&G Chemicals SA
Amorphous Polypropylene Terephatalate Global Market Report
The Business Research Company offers in-depth market insights through Amorphous Polypropylene Terephatalate Global Market Report 2024, providing businesses with a competitive advantage by thoroughly analyzing the market structure, including estimates for numerous segments and sub-segments.
Market Size And Growth Forecast:
The amorphous polypropylene terephatalate market size has grown strongly in recent years. It will grow from $41.37 billion in 2023 to $45.13 billion in 2024 at a compound annual growth rate (CAGR) of 9.1%. The growth in the historic period can be attributed to increased application in the food and beverage industry, growing demand due to its wide range of applications, increased demand for lightweight and durable packaging materials, growth in the textile industry, with applications in fabrics and garments, adoption in the automotive sector for interior components.
The amorphous polypropylene terephatalate market size is expected to see strong growth in the next few years. It will grow to $63.34 billion in 2028 at a compound annual growth rate (CAGR) of 8.8%. The growth in the forecast period can be attributed to surge in demand for sustainable and recyclable materials, growth in the medical industry, increasing use in the construction sector for insulation materials, expansion of the renewable energy sector, high disposable income. Major trends in the forecast period include adoption in 3d printing for versatile manufacturing applications, development of bio-based and bio-degradable amorphous, customization of a-pet materials for specific industrial applications, integration of nanotechnology for enhanced properties in a-pet, collaboration between industries for cross-application of a-pet in various sectors.
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Market Segmentation:
The amorphous polypropylene terephatalate market covered in this report is segmented -
1) By Additives: Chain Extenders, Nucleating Agents, Solid Stating Accelerators, Impact Modifiers, Other Additives
2) By Application: Bottles, Films/Sheets, Food Packaging, Other Applications
3) By End-Use: Food & Beverages, Pharmaceuticals, Dairy, Automotive, Textiles, Other End-Uses
Major Driver - Increased Food And Beverage Packaging Demand Drives Growth Of The Amorphous Polyethylene Terephthalate Market
The surge in product demand for the purpose of packaging in the food and beverage sector will propel the growth of the amorphous polypropylene terephthalate market. Amorphous polyethylene terephthalate is used extensively for packaging food items and beverages, as it offers high strength and stiffness, clear visibility, and low creep characteristics, which make it perfect for use in food packaging applications. These plastics are used in the food and beverage industry to pack drinks, fresh meats, fruits, and vegetables. According to a United Nations Environment Programme (UNEP) report, 36% of the total plastics produced are used in packaging, including single-use plastic products for food and beverage containers. Thus, a surge in product demand for the purpose of packaging in the food and beverage sector will drive the amorphous polypropylene terephthalate market.
Competitive Landscape:
Major companies operating in the amorphous polypropylene terephatalate market report are Jiangsu Sanfangxiang Group Co. Ltd., DAK Americas LLC, Teijin Ltd., M&G Chemicals SA., Alpek S. A. B. de C. V., Indorama Ventures Public Company Limited, Far Eastern New Century Corporation, Invista Sarl, Reliance Industries Ltd., The Quadrant Group of Companies, Zhejiang Zhink Group Co. Ltd., MPI Polyester Industries Sdn Bhd, LOTTE Chemical Corporation, Covestro AG, Dow Inc., Eastman Chemical Company, Toray Industries Inc., Saudi Basic Industries Corporation, Mitsubishi Chemical Corporation, SK Chemicals Co. Ltd., JBF Industries Ltd., Polyplex Corporation Limited, Jindal Poly Films Limited, Ester Industries Limited, Garware Polyester Limited, Polygenta Technologies Limited, Polyone Corporation, RTP Company, Plasticoncentrates Inc., Polyram Plastic Industries Ltd., Polyplastics Co. Ltd., Sumitomo Chemical Co. Ltd., LG Chem Ltd., BASF SE, DuPont de Nemours Inc., Solvay SA, Arkema SA, Evonik Industries AG, Lanxess AG
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Top Trend - Amorphous Polypropylene Terephthalate Market Fueled By Sustainable Product Innovations And Horizontal Recycling Initiatives
Product innovation is a key trend gaining popularity in the amorphous polypropylene terephthalate market. Manufacturers are coming up with new product innovation that consists of environmentally friendly techniques for manufacturing plastic. For instance, in August 2023, Origin Materials, a US-based chemical company, launched all PET (polyethylene terephthalate) bottle caps, enabling the potential for 100% recycled PET throughout the entire bottle, including the cap, to enhance post-consumer recycling efforts. These PET caps from Origin are exceptionally eco-friendly as they can be made from various PET sources, including recycled PET and Origin's 100% bio-based, carbon-negative virgin PET. PET offers superior oxygen and CO2 barrier properties compared to commonly used cap materials such as HDPE and PP.
The Table Of Content For The Market Report Include:
1. Executive Summary
2. Amorphous Polypropylene Terephatalate Market Characteristics
3. Amorphous Polypropylene Terephatalate Market Trends And Strategies
4. Amorphous Polypropylene Terephatalate Market - Macro Economic Scenario
5. Amorphous Polypropylene Terephatalate Market Size And Growth
…..
27. Amorphous Polypropylene Terephatalate Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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