Growing Industrialization will influence the PET Preforms Market Growth

The rapid development of the FMCG industry has led to a plethora of advances in the global PET bottles market, which has experienced meteoric growth in the past couple of decades. The global PET bottles market grew at a CAGR of around 6.5% in the past five years. The emerging economies like China, India, and Brazil are upping their game and are expected to experience a rapidly growing PET bottles market over the forecast period. There has been a growing domestic demand in these countries which is expected to give the local PET market a boost. The preference for PET preforms in the market is high, owing to benefits such as higher speed of production, reduced costs, and superior quality. The demand for more consumer goods is expected to increase over the forecast period, across the globe.

Global PET preforms market: Dynamics

The growing populations has directly had an impact on the global consumer goods market, with PET bottles finding a way into our homes. PET preform techniques for the manufacture of PET bottles are considered the most cost effective and fastest techniques. PET bottles are used everywhere, and although there are some concerns of the use of plastic bottles and plastic products as a whole, due to environmental concerns, PET bottles are considered safer and more cost effective due to their longer shelf-life. Their preference is higher over alternate raw materials used to manufacture bottles such as glass, owing to their brittle nature. The use of PET preforms is known to be preferred owing to characteristics such as – increased tensile strength, impact strength, and resistance to chemicals. All these factors, couple by the ever-increasing demand for consumer goods, is expected to fuel the growth of the global PET preforms market.

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Despite all these favorable conditions for the growth of the global PET preforms market, certain factors such as the use of alternative materials such as glass containers, is expected to act as hindrance.

Global PET preforms market: Segmentation

The global PET preform market is segmented as: -

On the basis of application:

Water

Carbonated drinks

Food

Edible Oil

Juice/Milk

Alcoholic Drinks

Others

On the basis of neck standard:

Standard 28/410

Standard 30/25

Standard 48/41

Standard 29/25

Standard PCO

Standard 29/21

Standard 38 mm

Standard 48 mm

Standard 52 mm

Global PET preforms market: Geographical and Competitive Dynamics

The global cosmetic jar market has been geographically segmented into 7 regions:

North America

Latin America

Western Europe

Eastern Europe

Asia Pacific excluding Japan (APEJ)

Middle East and Africa (MEA)

Japan

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The Asia Pacific region enjoys leading position in the global PET preforms market, owing to high consumption and demand for PET bottles. The Asia Pacific region is also expected to register the highest CAGR in the PET preforms market, over the forecast period, attributed to rapidly increasing population and higher rate of urbanization. North America and Western Europe, being mature markets, are expected to register a slower growth rate over the forecast period. Latin America PET preform market has been on the rise over the past few decades and is expected to gather steam with the economic boom. Emerging economies, owing to the fast influx of new technologies, are expected to experience an increased volume of production with the technical knowhow to operate sophisticated PET preform systems. China, India and Brazil are expected to experience a shift in preference for PET bottles from glass bottles, and an increase in demand for consumer goods. The improvement in standard of living is anticipated to lead a significant percentage of people in these countries to prefer packaged drinking water. Recent increase in the number of retail outlets and chains is also known to have directly had an impact on the preferences of people in these countries.

Key Players

Some of the key players in the global PET preforms market are – ExoPackaging, SURYA POLYPET PVT LTD., PET-Verpackungen GmbH, Magnum Group, Terekas, K.L. Polymers etc.

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This release was published on openPR.