Australia Amorphous Polyethylene Terephatalate Market Outlook

the australia amorphous polyethylene terephatalate (pet) market has been growing at a steady rate over the past five years on account of increasing demand from various end-use industries. the australian pet market is expected to continue to grow in the next five years due to the growing need for pet in food packaging, automotive, and medical applications. the increased demand for pet in the food packaging sector is mainly driven by the need for convenience, increased shelf life, safety and cost-effectiveness. additionally, there has been an increase in consumer demand for ready-to-eat and on-the-go food items. as a result, pet is increasingly being used as a packaging material in food and beverage products. in the automotive sector, pet is used for the production of fuel tanks, bumpers, dashboard components and interior cloth and plastic pieces. the increased use of pet in the automotive sector is mainly attributed to its ability to be molded into desired forms. it is relatively lightweight and has good chemical resistance, making it suitable for use in fuel tanks and automotive interiors. medical applications present a source of growth for pet as the material is used in manufacturing diagnostic imaging materials, medical instruments, drug delivery systems and for producing hospital gowns, masks and other medical equipment. pet is used for its biocompatibility and its ability to provide clear images in medical imaging applications. besides this, pet is also making its way into the electrical and electronic industry on account of its excellent electrical insulation properties and superior mechanical strength. the growth of the pet market is further boosted by technological advancements such as the development of new grades and improved product formulations that are providing enhanced mechanical properties and faster cycle times. overall, australia’s pet market is expected to continue to grow at a steady pace over the 2018-2032 period on account of increased demand from end-use industries and technological advancements.