Newark, Feb. 14, 2023 (GLOBE NEWSWIRE) -- The PET Preforms market was estimated at around USD 14.2 billion in 2021, growing at a CAGR of nearly 4% during 2022-2030. The market is projected to reach approximately USD 20.8 billion by 2030.
Preforms are items made from polyamide, specifically polyethylene terephthalate, a compound made of ethylene glycol and terephthalic acid that has been purified. The preforms are mostly employed in the production of bottles and containers for the packaging of pharmaceutical, cosmetic, and food & beverage products, including carbonated beverages, mineral water, and ready-to-drink products like juices and soft drinks. PET preforms are in high demand for packaging applications in the food and beverage, health and pharmaceutical, and cosmetic and personal care industries. The market for PET preforms has chances for growth due to factors such as the increasing demand for beverages, factors supporting the expansion of the cosmetics and personal care industry, and factors boosting the sale of pharmaceuticals.
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Growth Factors
Preforms constructed of polyethylene terephthalate (PET), the most popular thermoplastic polyester, are unfinished goods produced by the injection moulding process. PET is a material that is dimensionally stable, robust, stiff, and hard. Except alkalis, it is resistant to water, gas, and all chemicals. PET is completely clear and colourless. PET bottles are steadily replacing glass and other metal bottles in the food and beverage industries.
Due to these benefits, PET products have a variety of qualities, including lightweight, a long shelf life, and ease of handling. Industries that package food and beverages frequently employ PET goods. Due to advancements in the packaging sector, PET products are widely employed in the healthcare and cosmetics industries.
The rising demand for pack weight reduction and the increase in carbonated beverages and new product developments are some of the major drivers for the growth of PET preform market.The widespread use of PET Preform is a result of the rise in packaged beverage consumption. Additionally, the Global PET Preform Market is gaining from a rise in beverage sales as a result of an increase in the consumption of carbonated beverages. The changing lifestyles and rising popularity of ready-to-drink (RTD) beverages also boost the global industry. PET Preform is therefore probably going to be widely employed in the beverage industry. Another factor that is projected to fuel the growth of the global PET Preform Market in the forecast future is an increase in the use of bottled water due to rising tourism. Additionally, producers and self-regulatory research organizations are always improving their methods to provide superior items, which is anticipated to drive the global market.
Segmental Overview
The market for PET preforms is expected to exceed $20 billion by 2030. PET preforms of the Alaska/Bericap/Obrist neck type could dominate the market. There is a good chance that the beverage industry will continue to use PET preforms extensively and that the market for these products will increase by 1.4 times by 2030.
Adult beverage consumption, especially of juices and soft drinks, is increasing as a result of rising disposable income, which is increasing the demand for bottles with a 500–1000 ml capacity for packaging. Because of this, there will be an increase in the usage of PET preforms to create bottles with capacities between 500 and 100 ml, which will significantly accelerate the expansion of the 500-1000 ml segment throughout the projected period.
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The demand for PET preforms for packaging applications is predicted to rise along with the strong development in beverage item consumption, leading to the sector's positive market growth throughout the projection period for food and beverages. Sales of alcoholic beverages may rise along with the consumption of carbonated beverages, which might be advantageous for the worldwide PET preform market. Additionally, producers and independent research organizations are continually coming up with improved ways to make more sophisticated items, which is said to be fueling the industry.
On the other hand, the stringent regulations limiting the use of plastic present a challenge for the worldwide PET preform market. Plastic cannot biodegrade as a result. Government agencies are not the only ones that spread awareness about recycling plastic and reducing its use.
Regional Overview
In the plastics sector, North America is the dominant region. About 92% of the plastic goods made in Canada are exported to the United States. The majority of Canada's plastic sector is based in Canada and the United States. North American plastic industry associations like the Plastic Industry Association (PLASTICS), the Canadian Plastics Industry Association (CPIA), and the National Association for Plastics Industry (ANIPAC) are focusing on the growth and development of the plastic industry across North America. Canada and Mexico are the U.S.'s two main export markets. By the modernization of the North American Free Trade Agreement (NAFTA), some of these organisations are actively working to create a common industry platform to enact priority policies that will support the expansion of the plastics industry.
Report Scope
| Base Year | 2021 |
| Forecast period | 2022-2030 |
| Report Coverage | Revenue estimation and forecast, company profile, competitive landscape, growth factors, and recent trends |
| Regional scope | North America, Europe, Asia Pacific, Middle East & Africa, and Latin America |
| Market Size(unit) | USD Billion |
| PET Preforms Market CAGR | 4% |
| Segments Covered | By Type By Capacity By Application |
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List of the prominent players in the Global PET Preforms market:
• ALPLA Werke Alwin Lehner GmbH & Co KG
• Plastipak Holdings Inc.
• RETAL Industries Ltd.
• Resilux NV
• Societe Generale Des Techniques
• Taiwan Hon Chuan Enterprises Co. Ltd.
• Zhongfu Enterprise Co Ltd.
• Manjushree Technopack Limited Co.
• Logoplaste UK Ltd.
• Indorama Ventures Public Co. Ltd.
The global PET Preforms market is segmented as follows:
By Capacity
• Up to 500ml
• 500-1000ml
• 1000-2000ml and
• More than 2000ml
By Type
• Type 1
• Type 2
• Type 3
• Type 4
• Type 5
• Others
By Application
• Carbonated Soft Drinks
• Water
• Food
• Non-Carbonated Drinks
• Cosmetics & Chemicals
• Pharma & Liquor
By Region/Geography
• North America
o The U.S.
o Canada
o Mexico
• Europe
o France
o The UK
o Spain
o Germany
o Italy
o Rest of Europe
• Asia Pacific
o China
o Japan
o India
o Australia
o South Korea
o Rest of Asia Pacific
• The Middle East & Africa
o Saudi Arabia
o UAE
o South Africa
o Egypt
o Kuwait
o Rest of the Middle East & Africa
• Latin America
o Brazil
o Argentina
o Rest of Latin America
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About the report:
The market is analyzed based on value (USD Million). All the segments have been analyzed worldwide, regional, and country basis. The study includes the analysis of more than 30 countries for each part. The report analyzes driving factors, opportunities, restraints, and challenges for gaining critical insight into the market. The study includes porter's five forces model, attractiveness analysis, product analysis, supply, and demand analysis, competitor position grid analysis, distribution, and marketing channels analysis.
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