PET Preform Machines Market to Reach US$ 12 Bn Value by 2028Transparency Market Research delivers key insights for the PET preform machines market in its published report, which include global industry analysis, size, share, growth, trends, and forecast for 2020-2028. In terms of revenue, the global market is projected to expand 1.7 times of current market value, by the end of 2028, owing to increasing demand for beverages across several countries about which, TMR offers detailed insights and forecasts in the PET preform machines market report.
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PET preform machines are preferred for manufacturing bottles, jars, and containers by the end users. It helps to increase the production rate of the PET-based packaging containers. TMR team segmented the analysis of PET preform machines market based on various factors such as orientation, screw diameter, mould cavity, and demand in end-use industries across five regions.
As per TMR analysis, linear PET preform machines is expected to hold the largest market share and outpacing rotary PET preform machines during the forecast period.
Food & Beverage Industry Holds Significant Share of PET Preform Machines Market
PET bottles and jars are gaining more traction in food & beverages industry from the past three years. As the PET bottles and jars are BPA (Bisphenol-A) free. Besides this, PET containers has less impact on the environment. Therefore, FDA approved PET containers for packaging of consumable products such as mineral water, cold drinks, and others. PET preform machines provides continent and time saving approach for bottles and packaging container manufacturing. Therefore, as per TMR analysis, the demand for PET preform machines is anticipated to boost during the 2020 - 2028, owing to increasing demand for PET bottles and jars for food & beverages packaging.
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Key Players Eyeing on Product Innovations and Increasing Global Footprints
Owing to the expansion of key industries such as beverages, pharmaceuticals, personal care, cosmetics, etc., soaring demand for PET preform machines is expected during the forecast period. Therefore, key players are planning to increase investment in developing new technology-based PET preform machines and increasing their presence in the untapped regions.
In early 2020, S.I.P.A. Spa introduced XFORM PET preform machines having no vibration and no stress at high speed. Moreover, in December 2019, S.I.P.A. introduced GEN4XP, 250, 350, and 500 tonnes PET preform injection molding technology.
In 2019, Polymechplast Machines Ltd. is planning to increase its production capabilities in the African countries, owing to the increasing demand for PET preform machines. The company is also participating in the various exhibitions for presenting their product innovations.
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Transparency Market Research (TMR) is a U.S.-based provider of syndicated research, customized research, and consulting services. TMR's global and regional market intelligence coverage includes industries such as pharmaceutical, chemicals and materials, technology and media, food and beverages, and consumer goods, among others. Each TMR research report provides clients with a 360-degree view of the market with statistical forecasts, competitive landscape, detailed segmentation, key trends, and strategic recommendations.
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