Major players in the amorphous polypropylene terephthalate market are Jiangsu Sanfangxiang Group Co., Ltd., DAK Americas, Teijin Ltd., M&G Chemicals SA., Alpek, EXP Plastics, Petrotemex S.A. de C.V., RTP Company, La Seda de Barcelona, and Formosa Plastic.
The global amorphous polypropylene terephatalate market grew from $37.87 billion in 2022 to $41.02 billion in 2023 at a compound annual growth rate (CAGR) of 8.3%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The amorphous polypropylene terephatalate market is expected to grow to $55.96 billion in 2027 at a CAGR of 8.1%.
The amorphous polypropylene terepthalate market consists of sales of polyethylene terephthalate (PET) and polybutylene terephthalate (PBT).Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers.
The value of goods in this market includes related services sold by the creators of the goods.
The amorphous polypropylene terephthalate refers to a thermal, rigid plastic that belongs to the polyester product family.It is known for their excellent transparency, light processing, and great barrier properties.
Some of the advantages of amorphous polypropylene terephthalate are excellent impact resilience, deep foaming capabilities, and gas and water resistance qualities.
Asia-Pacific was the largest region in the amorphous polypropylene terephthalate market in 2022. The regions covered in the amorphous polypropylene terephthalate market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The main types of additives in amorphous polypropylene terephthalate are chain extenders, nucleating agents, solid stating accelerators, impact modifiers, and others.Chain extenders are low molecular weight diols or diamines that react with diisocyanates to build polyurethane molecular weight.
It comprises a short-chain diol used in polyurethanes and polyurethane-based thermoplastics (TPU) to make hard blocks. The amorphous polypropylene terephthalate is used in food & beverages, pharmaceuticals, dairy, automotive, textiles, and others for manufacturing of bottles, films/sheets, food packaging, and others.
The surge in the product demand for the purpose of packaging in the food & 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 is used in packaging, including single-use plastic products for food and beverage containers.
Thus, surge in the product demand for the purpose of packaging in the food and beverage sector will drive the market.
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 green and environmentally friendly techniques for manufacturing plastic.
For example, in 2020, Toray Plastics Inc., a US-based manufacturer of polypropylene And cast polypropylene films started manufacturing EcouseTM polyethylene terephthalate (PET) films. These are eco-friendly films that are sustainable. The company developed a recycling system that collects discarded films from electronic component applications and reuses them into environmentally friendly films. After establishing an annual manufacturing capacity of 2,500 metric tonnes, the company plans to begin full-scale sales of the new product.
In January 2020, BASF, a Germany-based chemical corporation that operates globally in chemicals, plastics, performance goods, functional solutions, agricultural solutions, and oil and gas, acquired polyamide business from Solvay for €1.3 billion ($1.3 billion). This acquisition will enable BASF to provide better-engineered plastics solutions to its clients, such as autonomous driving and e-mobility. The acquisition also gives the corporation better access to emerging markets in Asia, and North and South America. Solvay, a Belgium-based company engages in the manufacture and distribution of chemical and plastic products.
The countries covered in the amorphous polypropylene terephthalate market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
The amorphous polypropylene terephthalate market research report is one of a series of new reports that provides amorphous polypropylene terephthalate market statistics, including amorphous polypropylene terephthalate industry global market size, regional shares, competitors with an amorphous polypropylene terephthalate market share, detailed amorphous polypropylene terephthalate market segments, market trends and opportunities, and any further data you may need to thrive in the amorphous polypropylene terephthalate industry. This amorphous polypropylene terephthalate market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.