Amorphous Polyethylene Terephthalate or PET is considered to be the most common thermo plastic polymer and is used in a variety of household and industrial applications. Plastic Industry has seen a boom in the packaging business after the advent of PETs. Being cost effective and biodegradable at the same time, PETs have become an inevitable part of the industry. The idea of sustainable development across trades acts as the major driving force for the PET industry.
In the present global market, PET industry is segmented on the basis of additives, application, and end user industry. The additive segmentation includes chain extenders, nucleating agent, stabilizers and impact modifiers. On the basis of application they have been divided into three categories, namely: thick walled containers, film sheets and PET bottles. The end user industry comprises of food and beverages, pharmaceuticals and dairy industry. PET is one of the fastest growing plastic industries in the world. The growth of the packaged food industry is anticipated to propel the growing demand of the global market in the coming years.
Also, the factors, such as the physical characteristics of amorphous PET including its strength and stiffness, clear appearance, lightweight, low flavor absorption, and favorable creep characteristics, along with low price, make it ideal for usage in various applications. The amplified utilization of amorphous PET in myriad set of applications is driving the global amorphous PET market.
The APAC and North American regions lead the industry while Europe takes the next position. In Asia, China is the top player amongst other countries while in North America the U.S. is the dominating country. China is also one of the largest producers of plastics in the world. The increased usage of amorphous PET for packaging applications across different industries, such as cosmetics, films/sheets, and food and beverages is expected to boost its demand in the emerging economies, such as India and China.
There are five companies which play the key role in the amorphous PET industry, they are:
- Dow Chemical Company (U.S.)
- Eastman Chemicals Company (U.S.)
- EI du Pont de Nemours & Co (U.S.)
- Sinopec Limited (China)
- BASF SE (Germany)
The other key players in the industry include:
- Bayer Corporation (Germany)
- Formosa Plastic Corporation (U.S.)