Press release
Pet Blow Moulder Market is exhibiting a Promising CAGR of 4.3% during forecast period | Size, Share, Research Forecast
Pet Blow Moulder Market
The Pet Blow Moulder Market is expanding at a compound annual growth rate of 4.3% over the period, 2022-2029.
For Additional Insights, Click to Access Complete Report - https://www.gmiresearch.com/report/pet-blow-moulder-market/
The factors driving the growth of Pet Blow Moulder Market includes growing demand for recyclable, safe and lightweight bottled water, rise in the consumption of soft drinks, alcoholic and non-alcoholic beverages and convenient packaging solutions offered by manufacturers. According to the report published by Statista, the revenue generated from the sales of bottled water products in India is expected to reach USD 5.55 billion by the end of 2022, growing at a CAGR of 4.97% over the forecast period (2022-2026), which will accelerate the Pet Blow Moulder Market size. Moreover, expansion of pharmaceutical and personal care industries, technological advancements in Injection blow moulding machines and rise in the launch of innovative products, are some of the additional factors supplementing the market growth. In addition, the increasing investments by leading players on research and development, strategic mergers, and collaborations between key industry players, rapid urbanization, rising disposable incomes and growing population growth rates, are further contributing towards the market growth.
However, growth of the Pet Blow Moulder Market is hindered due to strict policies regarding the use of plastics,
The leading players operating in the market are Pet All Manufacturing Inc., R&B Plastics Machinery, LLC, Sipa. S.p.A., Custom-Pak Inc., TechLong International Inc., Pretium Packaging, PET Technologies Group, Nissei Asb Machine Co., Ltd., Jomar Corporation, and KHS Group among others.
Based on Machine, the Automatic PET Blow Moulder segment is predicted to grow at a significant CAGR during the forecast period
PET Blow Moudler machines require low maintenance, smoothen operations along with its increasing use in manufacturing plastic bottles, jars and mineral water bottles, are some of the factors responsible for the segment's growth.
Based on Technology, the Stretch segment is projected to grow at a robust CAGR over the forecast period
PET Blow Stretching technology enhanced tensile strength, minimizes weight of the containers and is increasing used for manufacturing bottles, are propelling growth of the segment.
Based on Region, the North American region is anticipated to grow at a remarkable CAGR during the forecast period
Growing adoption of advanced technologies by manufacturers, increasing demand for bottled water rapid growth in the pharmaceutical industry, improved living standards, rising population growth rates and high per capita incomes, are some of the important factors augmenting the market growth in North American region.
Key Developments
In 2021, PET Technologies launched a new generation of flexible PET stretch blow moulding machines, part of the APF-Max blow moulder. The APF-Max blow moulder is equipped with the special short-wave near infrared heating system (NIR), which helps in minimizing energy consumption of blow moulder.
In 2020, Pretium Packaging, invested around USD 5 million in the polyethylene terephthalate (PET) expansion project, for purchasing new stretch-blow moulding equipment and infrastructure across six of its 19 manufacturing locations.
Market Segmentation
Segmentation by Machine
Automatic PET Blow Moulder
Semi-Automatic PET Blow Moulder
Manual PET Blow Moulder
Segmentation by Technology
Extrusion
Injection
Stretch
Segmentation by End-Use Industry
Food & Beverages
Pharmaceuticals
Personal Care
Others
Segmentation by Region
Asia Pacific
China
Japan
India
Rest of APAC
North America
United States of America
Canada
Europe
United Kingdom
Germany
France
Spain
Rest of Europe
RoW
Brazil
South Africa
Saudi Arabia
UAE
About GMI Research
GMI Research is a market research and consulting firm which provides market insights and intelligence across 12 major sectors helping our clients in making effective investment and business decisions.
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