Europe Amorphous Polyethylene Terephatalate Market Outlook

the european amorphous polyethylene terephthalate (pet) market is a key plastic market in the region. with a wide range of applications, such as in the packaging and automotive industries, there are expected to be strong growth rates in the years to come. the increasing demand for lightweight, recyclable materials is causing the demand for amorphous pet to grow. it can easily meet the ever-growing demand for material use in the packaging industry. furthermore, its high grade of clarity combined with strong barrier properties make it suitable for many end-use applications. the demand for pet is expected to increase with a compound annual growth rate of 4.1% between 2018 and 2032. the growth will be mainly driven by steady volume growth in most forms of pet packaging, including water, dairy and beverages categories. in addition, the possibility of expansion of industrial uses of pet, such as in automotive and medical sectors is a further driver of demand. in terms of the supply side, this market is highly concentrated in europe and one of the largest producers of pet is the basf keltorn group, headquartered in the netherlands. the european pet supply market is characterised by a high degree of vertical and horizontal integration, with many producers operating downstream activities, such as blow molding and injection molding, in addition to their upstream activities, such as resins production. furthermore, upwards pressure is being put on the price of pet due to the cost-driven strategies employed by major producers. the continuous innovation in lightweight materials combined with the advance in recycling technologies to convert pet into high grade resins are further drivers of this market. furthermore, sustainability and economical performance goals are forcing many companies to choose pet as an alternative to other materials. in conclusion, the europe amorphous pet market is expected to thrive in the next decade as consumer demand for plastics continues to grow and cost-effective production and recycling technologies are further developed. the expected growth rates will be driven by a combination of end-use applications and innovation in the sector.