MARKET OVERVIEW
Preforms manufactured from polyethylene terephthalate, are called PET preforms. PET preform is a test tube shaped piece of polymer produced by injection molding process and is considered to be the first stage of PET bottle production. PET is a colourless, transparent polymer that is almost unbreakable and can be recycled well. These favorable properties led to a broad distribution of PETS as packaging for beverages. In contrast with cans and cartons, transparency in PETS allows the beverage to be seen. PET polymer is widely used in food and beverage packaging, pharmaceutical packaging, home care packaging, and personal care packaging.
MARKET DYNAMICS
The PET preforms market is expected to have substantial growth in upcoming years. The increasing use of bottles or containers for mineral water, juices, liquors, soft drinks, and carbonated beverages is driving the growth of the PET preforms market. The bottles are unbreakable and can be recycled easily, increasing their demand globally. The companies in the food & beverages and packaging industry are adopting PET bottles as it allows lightweight packaging as well as it is cost-effective and environmentally beneficial. However, the PET preforms market may be hindered by factors such as consumer perception, government regulatory bodies, and lack of awareness. The PET preforms raw material cost, manufacturing, and processing are high as compared to traditional materials, which may also hinder the growth of the market.
MARKET SCOPE AND REPORT FEATURED
The “Global PET Preforms Market Analysis for 2030” is specialize and in-depth study with major focus on global market trends and growth opportunities. The report aims to provide an overview of the global market with details market segmentation by application and geography. The global PET preforms market has been witnessing high growth over the recent past and is expected to continue this trend during the forecast period. The Report provide key statistics on consumption of PET preforms worldwide along with their major demand in the countries. In addition, the report provides the qualitative assessment of various factor affecting the PET preforms market performance in major region and countries. The report also includes comprehensive analysis of the leading players in the PET preforms market and their key strategic developments. Several analyse on the market dynamics are also included to help identify the key driving factors, market factors, market trends, and lucrative opportunities that would, in turns, aid in the identifying the major revenue pockets.
Further, ecosystem analysis Porters five force analysis provide a 360-degree view the global PET preforms market, which helps understand the supply chain and various factor affecting the market growth.
SEGMENTAL ANALYSIS
The PET preforms market is segmented based on application. Based on application, the PET preforms market is segmented as food and beverage, pharmaceutical, home care, personal care, and others.
Based on application, food and beverage segment accounted for a significant share which can be attributed to their extensive use in the PET preforms application. PET preforms market has various characteristics such as lightweight, long shelf life, and easy to handle. The PET preforms are widely used in packaged food and beverage industries. Demand for packaged beverages, packaging mineral water, juices, liquors, soft drinks, carbonated drinks, oils suitable for consumption, medicines, pickles, jams, consumer products, etc., will increase the demand for PET preforms during the forecast period. Besides, plastic packaging manufacturer are utilizing light blocking additives in PET preform for extending shelf life of refrigerated beverages. For instance, plastic packaging manufacturer, Retal is actively working with a leading food and agri-business to manufacture a PET preform that helps to extend the shelf life of refrigerated dairy products in Africa. To achieve this, Retal is adding ColorMatrix Lactra SX light blocking additive to its monolayer PET preform bottles for refrigerated yoghurt producer, specifically for targeting the Nigerian market. The Lactra SX light blocking additive is claimed to block 99.9% of light, thus protecting the dairy product.
REGIONAL INSIGHTS
The report provides a detailed overview of the global PET preforms market with respect to five major regions, namely, North America, Europe, Asia Pacific, Middle East & Africa, and South & Central America.
The Asia Pacific is projected to account for a significant share in the market in the forecast period. Also, The Asia Pacific is the fastest growing region in the PET preforms market. There is high demand of PET preforms in the emerging economies such China, Japan, and India. China is the leading country in the PET preforms market. The increasing demand for pharmaceutical, water, food and beverage, and carbonated soft drinks due to the increasing population in growing economies such as China and India.
The Europe is estimated to hold the second largest share of the PET preforms market globally. The major economies in the manufacture of plastic products in Europe are the UK, Germany, Italy, and France. In emerging countries, the bolstering demand for packaging for food & beverages and increasing awareness of recycled products in the food industry are the major factors fuels the growth of the PET preforms market in Europe.
MARKET PLAYERS
Some key players operating in the PET preforms market include, Logoplaste Group, SNJ Synthetics Limited (SNJ), Manjushree Technopack Ltd., Chemco Group of Companies, Takemoto Yohki Co., Ltd., Amcor, Bericap, Shini Plastics Technologies, Inc., Crown Holdings, Inc, Samyang Packaging, Alpla Werke Alwin Lehner Gmbh & Co Kg., Retal Industries Ltd. Resilux Nv., Parle Agro Pvt. Ltd., Technopet, Taiwan Hon Chuan Enterprises Co. Ltd., and Zhongfu Enterprise Co Ltd.
The Insight Partner's dedicated research and analysis team consists of experienced professionals with advanced statistical expertise and offers various customization options in the existing study.