Amorphous polyethylene terephthalate market poised to be worth US$36.4 bln by 2020

26-Nov-15

PET market is fueled by the increasing demand for amorphous PET in the food and beverages, and films/sheets industries. The Asia-Pacific region is projected to lead the global amorphous PET market in 2015, owing to presence of large manufacturing base for amorphous PET in the region, as per MarketsandMarkets. The global amorphous PET market is projected to reach US$36.40 bln by 2020 at CAGR of 7.5% between 2015 and 2020. The North American and European regions are established markets for the amorphous PET as most of the leading players in the global amorphous PET market come from these regions. The bottles application segment is projected to lead the global amorphous PET market during the forecast period, owing to increased demand of amorphous PET for packaging of beverages and cold drinks. Apart from bottles, the films/sheets and food packaging segments are other major applications of the global amorphous PET market. The Asia-Pacific region led the global amorphous PET market in 2014. It was followed by the European and North American regions. The amorphous PET market in the Asia-Pacific and European regions is expected to grow during the forecast period, owing to growth of various end user industries in these regions. The key players operating in the global amorphous PET market are Indorama Ventures Public Limited Company (Thailand), Eastman Chemical Company (U.S.), Bayer MaterialScience AG (Germany), La Seda de Barcelona (Spain), Petrotemex S.A. de C.V. (Mexico), Quadrant (Switzerland), and DAK Americas LLC (U.S.), among others. New product launches and expansions are the major strategies adopted by the leading players to strengthen their position in the market. The manufacturing companies, associations, and end product manufacturers infuse high investments to carry out advancements and technology modifications in the global amorphous PET market to match the increased demand for amorphous PET coming from various end user industries.