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APET Sheet Market is estimated to grow at a CAGR of 7.1% during 2019 – 2027 | Growth Market Reports

Author: Sheryl Dias
by Sheryl Dias
Posted: Feb 17, 2022

The global APET sheet market was valued at USD 4,908.4 Million in 2019 and is projected to reach USD 8,479.9 Million by 2027, expanding at a CAGR of 7.1% during the forecast period. Amorphous-polyethylene terephthalate (APET) film is a thermoplastic film produced by the APET copolymer, a form of thermoplastic polyester. This film is a type of amorphous thermal plastics, which consists of elements of carbon, hydrogen, and oxygen. The growth of the APET sheets market is related to the growing demand for packaging materials made from amorphous PET used in consumer and medical packaging items.

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Market Dynamics

Market Drivers

The use of APET sheets in the medical packaging and consumer goods industry is driving the growth of the global APET sheets market. APET sheets are easy to handle, have a last long, reliable, and lightweight. This, in turn, drives its use in various industries. Rising consumer purchasing power, evolving lifestyles and food habits, and awareness of different medical packaging techniques around the globe are driving the growth of the APET sheets market. Pharmaceutical, FMCG packaging and food packaging manufacturers prefer using APET sheets as packaging materials over conventional packaging materials due to their high durability, low cost, and ability to be molded into various forms.

Market Restraints

Environmental standards and legislation vary from country to country, especially for the packaging industry, thus making it difficult for businesses to integrate these changing laws. The manufacturing and commercial industries are affected by these environmental mandates. These differences in environmental legislation and regulations across regions pose a challenge for the environment. This, in turn, is likely to hamper market growth during the forecast period.

Raw materials used for the manufacture of APET sheets are extracted from oil feedstocks and account for almost 60.0% of the total cost of the finished product. Fluctuations in crude oil prices directly affect the retail prices of APET sheets.

Regional Outlook

Based on regions, the global APET sheet market has been divided into North America, Europe, Asia Pacific, Middle East & Africa, and Latin America. The APET sheets market in Asia Pacific is anticipated to expand at a high CAGR during the forecast period. Improving economic conditions and increasing population are the factors that are expected to drive the growth of the medical packaging and consumer goods packaging industry, especially in China, India, South Korea, and Australia, which is projected to further fuel the growth of the market in the region.

Competitive Landscape

Key players in the market include NAN YA PLASTICS CORPORATION, PolyOne, Plastirol BV, epsotech Group, and Others. They considered as key manufacturers of the market based on their different varieties of product availability, regional presence, better supply chain management system, and the increasing demand for the products.

The players are adopting key strategies such as acquisition, and geographical expansion where potential opportunity for the APET sheet extraction is added in the company’s capacity.

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Author: Sheryl Dias

Sheryl Dias

Member since: Mar 16, 2021
Published articles: 10

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