Evolving Landscape: North American PET Blow Molder Market Set to Reach US$ 57.3 Million by 2026 with 4.0% CAGR

The market for PET blow moulders in North America is anticipated to reach US$ 57.3 Mn by 2026, at a CAGR of 4.0% from 2022 to 2026, from an estimated US$ 49 Mn in 2022.

With an annual growth rate of 4.4%, the North American PET blow moulder market had profitable growth in 2021-2022. According to FMI, the North American market is anticipated to present enticing investment opportunities worth US$8.3 million during the projection year. Nearly 30-35% of the market is accounted for by the top three North American PET blow moulder manufacturers.

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In the U.S., the market is anticipated to expand by 1.2x between 2022 and 2026. By 2026, Canada is anticipated to have a market value of US$16.4 million.

The North America PET blow moulder market is expected to grow at a significant rate during the forecast period. PET (polyethylene terephthalate) is a thermoplastic polymer that is widely used in the production of packaging materials such as bottles and jars. Blow moulding is a manufacturing process that is used to produce hollow containers, such as bottles and jars, by blowing air into a heated preform. The North America PET blow moulder market is driven by the increasing demand for packaged food and beverages, as well as the growing popularity of eco-friendly packaging materials.

The North America PET blow moulder market is segmented on the basis of application, product, and region. On the basis of application, the market is segmented into food and beverages, pharmaceuticals, personal care, and others. The food and beverages segment is expected to dominate the market during the forecast period, due to the increasing demand for packaged food and beverages. On the basis of product, the market is segmented into machines and molds. The machines segment is expected to dominate the market during the forecast period, due to the increasing demand for blow moulding machines.

The North America PET blow moulder market is segmented on the basis of region into the United States, Canada, and Mexico. The United States is expected to dominate the market during the forecast period, due to the presence of a large number of manufacturers of PET blow moulding machines in the country.

In conclusion, the North America PET blow moulder market is expected to grow at a significant rate during the forecast period, due to the increasing demand for packaged food and beverages, as well as the growing popularity of eco-friendly packaging materials. The market is segmented on the basis of application, product, and region.

The food and beverages segment is expected to dominate the market during the forecast period, and the United States is expected to dominate the market during the forecast period, due to the presence of a large number of manufacturers of PET blow moulding machines in the country. Major players operating in the market are focusing on strategic partnerships and collaborations to expand their market presence and increase their share in the market.

With advancements in PET blow moulding machines, the transportation and recycling cost of glass bottles reduced drastically further promoting the adoption of machines leading to market growth.  Demand for spill proof and safe packaging solutions especially in pharmaceutical industry is one of the growth drivers, evaluated by ESOMAR-certified consulting firm Future Market Insights.

According to PepsiCo India's report, bottled water's rising popularity will increase per capita bottle to 84/bottles per person. Rising population and growing income of middle class have a positive impact on market growth. The usage of PET bottles in diary and pharmaceutical industries will provide a lucrative opportunity for market expansion.

 "Contracting environmental resources are pushing the companies toward creating innovative products offering high efficiency and minimum wastage. They are also investing in automation technologies and sustainable packaging solutions to cater the surging demands," remarks the FMI analyst. 

Key Takeaways

*The exponential demand of bottled beverages and the presence of global PET blow moulder manufacturers in the U.S. will amplify the market demand
*PET blow moulder market in China is forecast to expand at 7.4 % CAGR during 2021-2031. The growth can be attributed to heightened trading activities and growing production plants
*Augmented sales of PET bottles in Germany and Italy has created a conducive environment for market expansion in Europe
*The proclivity of Beverage manufacturers & dairy products manufacturing industries in India towards spill-proof PET bottles will provide a lucrative *opportunity for market expansion.
Rapid urbanization and growing disposable income in emerging economies will propel the market growth.

Prominent Drivers

The surging necessity of convenient packaging solutions among plastic bottle manufacturers is a primary market growth driver.
Growing consumption of beverages and products with exceptional packaging is expected to boost the market demand.
The inclination of younger population towards bottled food products is driving the plastic bottle market as well as PET blow moulder machines market.

Key Restraints

*High installation and early tooling cost of PET blow moulder machines causing stagnant market growth.
*Rapid development in low waste producing substitute machines and manufacturing operation restricts the market growth.
*strict policies regarding ban of plastic bags hampers the market growth.

Competitive Landscape

Leading players profiled by FMI operating in PET blow moulder market include Pet All Manufacturing Inc., R&B PlasticsMachinery, LLC, Nissei asb company, Jomar Corporation, Tech-Long Inc., KHS GmbH, FlexBlow, KENPLAS Industry Ltd., SIPA North America, Inc., Sidel, Custom-Pak Inc., Sacmi Imola, Krones AG, Meccanoplastica Group among others.

According to the study by FMI, development of energy efficient and integrated machinery products for PET blow moulding is key area of focus among market players owing to rising demand of low cost machines from small scale manufacturers. Global market leaders are emphasizing on developing minimum waste generating machines in order to increase output for large PET bottle manufacturers.

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North America PET Blow Molder Market by Category

By Machine Type :

Extrusion Blow Molding Machine
Injection Blow Molding Machine
Stretch Blow Molding Machine

By Technology Type :

Manual
Automatic
Semi-Automatic

By End Use :

Food & Beverage
Pharmaceuticals
Personal Care
Others

By Country :

U.S.
Canada

Contact:
Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware - 19713, USA

About Future Market Insights, Inc.
Future Market Insights, Inc. (ESOMAR certified, Stevie Award - recipient market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10 years.

This release was published on openPR.