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Amorphous Polypropylene Terephthalate Global market Report 2024 – Market Size, Trends, And Forecast 2024-2033
Amorphous Polypropylene Terephthalate Global Market Report 2024 – Market Size, Trends, And Forecast 2024-2033
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LONDON, GREATER LONDON, UNITED KINGDOM, September 16, 2024 /EINPresswire / -- The amorphous polypropylene terephthalate market has experienced robust growth in recent years, expanding 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.
What Is The Estimated Market Size Of The Global Amorphous Polypropylene Terephthalate Market And Its Annual Growth Rate?
The amorphous polypropylene terephthalate market is projected to continue its strong growth, reaching $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.
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Growth Driver Of The Amorphous Polypropylene 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.
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Which Market Players Are Driving The Amorphous Polypropylene Terephthalate Market Growth?
Key players in the amorphous polypropylene terephthalate market include 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.
What Are The Emerging Trends Shaping The Amorphous Polypropylene Terephthalate Market Size?
Major companies operating in the market are focused on developing high-strength polyethylene to gain a competitive advantage. High-strength polyethylene is a type of polymer material with superior tensile strength and durability, commonly used in applications requiring robust lightweight components.
How Is The Global Amorphous Polypropylene Terephthalate Market 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
Geographical Insights: Asia-Pacific Leading The Amorphous Polypropylene Terephthalate Market
Asia-Pacific was the largest region in the amorphous polypropylene terephthalate market in 2023 regions covered in the amorphous polypropylene terephthalate market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Amorphous Polypropylene Terephthalate Market Definition
The amorphous polypropylene terephthalate refers to a thermal, rigid plastic that belongs to the polyester product family. It is known for its excellent transparency, light processing, and great barrier properties. Some of the advantages of amorphous polypropylene terephthalate are its excellent impact resilience, deep foaming capabilities, and gas and water resistance qualities.
Amorphous Polypropylene Terephthalate Global Market Report 2024 from TBRC covers the following information:
.Market size data for the forecast period: Historical and Future
.Macroeconomic factors affecting the market in the short and long run
.Analysis of the macro and micro economic factors that have affected the market in the past five years
.Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
.Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
An overview of the global amorphous polypropylene terephthalate market report covering trends, opportunities, strategies, and more
The Amorphous Polypropylene Terephthalate Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on amorphous polypropylene terephthalate market size, amorphous polypropylene terephthalate market drivers and trends, amorphous polypropylene terephthalate market major players, amorphous polypropylene terephthalate competitors' revenues, amorphous polypropylene terephthalate market positioning, and amorphous polypropylene terephthalate market growth across geographies. The amorphous polypropylene terephthalate market report helps you gain in-depth insights into opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.
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