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.
In addition, growing consumer purchasing power, evolving mass lifestyles and awareness of various medical packaging techniques around the globe are driving the APET sheets market growth. APET sheets are easy to handle, long, durable and lightweight to last. This, in effect, is increasing its use in different industries. The growth of the APET sheet market is driven by increasing customer purchasing power, changing lifestyles and food habits and knowledge of various medical packaging techniques around the globe. Environmental standards and legislation vary from country to country, particularly for the packaging industry, making adaptation of these changing laws difficult for businesses. In addition, this is likely to hinder market growth over the forecast period.
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.
Segmental Outlook
Based on types, the APET sheet market has categorized as <0.2 mm, 0.2-1 mm, 1-2 mm, and >2mm. The thickness ranging between 1-2mm and less than 0.2mm are majorly consumed and are expected to be produced more due to increase in demand during the forecast period. The thickness of the APET sheets used for packaging of a product depends on the oxygen transmission rate, where the thinnest sheet has the maximum oxygen transmission rate, while the thickest sheet has minimum transmission rate.
In terms of applications, the APET sheet market has been segmented into food packaging, medical packaging, consumer goods packaging, and others. Medical packaging is expected to boost the growth for this market due to increase in blister tablet and capsule packaging with APET Colored and transparent sheet with APET sheets Peel able and sealable lidding content. On the basis of sales channels, the APET sheet market has been bifurcated into online and offline. The offline segment accounts for a major share of the market; however, the online segment is expected to grow at a significant pace during the forecast period. Offline sales channels are primary distribution channels used in regions where the Internet penetration is a challenge. Offline sales often open up substantial opportunities for cross-selling and upselling, thereby serving as massive collection repositories of additional customer data.
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