PET Preforms Market Is Meant To Witness A CAGR Of 3.9% Between 2022 And 2030, Reaching US$ 21.9 Bn

Press Release from Future Market Insights

The PET preforms market is likely to record 3.8% growth by 2024. Prominent verticals such as food and beverage, personal care, pharmaceuticals and home care are generating massive demand for PET preforms solutions to meet the consumers’ demands. The global  PET Preforms market  is meant to witness a CAGR of 3.9% between 2022 and 2030, reaching US$ 21.9 Bn.

PET preforms market is projected to reach over US$ 21.9 Bn by 2030. Alaska/Bericap/Obrist neck type PET preforms at the growth forefront. Beverages vertical to remain a prominent end user of PET preforms and are expected to witness an expansion of ~1.4x of its current market value by 2030.

PET Preforms Market – Key Highlights

  • North America to remain the lucrative, reflecting a CAGR of 3.8% over the forecast period.
  • 500 ml to 1000 ml PET preforms remains the popular capacity type segment in the global market.
  • Alaska/Bericap/Obrist Neck Type remains extensively utilized and thus reflecting the highest growth, followed by PCO/BPF neck type preforms segment.
  • Beverages to reflect highest market value throughout the forecast period.

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PET Preforms Market – Drivers

  • Growth of the ready-to-drink (RTD) market is encouraging the market expansion of PET preforms.
  • Rise in consumption of water through Bottles are projected to fuel demand for PET preforms.
  • Increasing significance for sustainable packaging solutions along with recyclable materials is boosting the market growth.

PET Preforms Market – Restraints

  • Increasing demand for banning single use plastic by several NGOs, environmentalists, and governments is hurting the growth of the market.
  • Availability of alternative packaging forms to limit the harmful impact of plastic can hinder market growth.

COVID-19 Impact on the Market

The PET preforms market is foreseeing a significant drop in demand due to COVID-19 led lockdowns all over the world. Shortage of raw materials, supply chain disruptions, and absence of skilled workers and labors from plants have been few factors that impacted the market. However, the PET preforms demand will foresee significant expansion in the 1st quarter of 2021, as production activities recommence and PET preforms demand from end user sectors reinstates to normal.

Competitive Landscape

Major players identified in the PET preforms market are

  • Plastipak Holdings, Inc.,
  • ALPLA Werke Alwin Lehner GmbH & Co KG,
  • Resilux NV,
  • RETAL Industries Ltd.,
  • Taiwan Hon Chuan Enterprises Co., Ltd.,
  • Societe Generale Des Techniques (SGT),
  • Manjushree Technopack Limited Co.,
  • Zhongfu Enterprise Co Ltd.,
  • Indorama Ventures Public Co., Ltd. and
  • Logoplaste UK Ltd.

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Key Segments Covered in PET Preforms Industry Research

PET Preforms Market by Capacity:

  • Up to 500 ml
  • 500 ml to 1000 ml
  • 1000 ml to 2000 ml
  • More than 2000 ml

PET Preforms Market by Neck Type:

  • Alaska/Bericap/Obrist
  • Others

PET Preforms Market by End-use:

  • Beverages
    • Bottled Water
    • Carbonated Drinks
    • RTD Tea & Coffee
    • Juice
    • Sports Drinks
    • Other Soft Drinks
    • Alcoholic Drinks
  • Food
  • Personal Care
  • Pharmaceuticals
  • Home Care
  • Others

PET Preforms Market by Region:

  • North America PET Preforms Market
  • Latin America PET Preforms Market
  • Europe PET Preforms Market
  • East Asia PET Preforms Market
  • South Asia PET Preforms Market
  • Oceania PET Preforms Market
  • Middle East & Africa (MEA) PET Preforms Market

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Future Market Insights (ESOMAR certified 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.

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