The pet preforms market is expected to expand at a CAGR of 3.8% during, 2020-2030. According to Future Market Insights (FMI) expansion prospects to outgrowth particularly with sectors taking measures to decrease the harm done to ascertain highest environmental safety. Major players in the beverage packaging sector are updating the production processes and changing over to recycling programs.
“PET preforms market players are engaged in r&d activities for material recyclability to remain relevant due to implementation of regulations to limit dependence on plastics for packaging.” concludes the FMI analyst.
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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.
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.
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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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About the Study
The study offers readers a comprehensive assessment of the PET preforms market. Global, regional and national-level analysis of the latest trends influencing the market is covered in this FMI report. The study provides insights according to capacity (Up to 500 ml, 500 ml to 1000 ml, 1000 ml to 2000 ml, and more than 2000 ml), neck type (ROPP/BPV, PCO/BPF, Alaska/Bericap/Obrist, and others), end use (beverages {bottled water, carbonated drinks, RTD Tea & Coffee, juice, sports drinks, other soft drinks, and alcoholic drinks}, food, personal care, pharmaceuticals, home care, and others) across key regions (North America, Latin America, Europe, China, Asia Pacific, Middle East & Africa).
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About Future Market Insights
Future Market Insights (FMI) is a leading provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in Dubai, the global financial capital, and has delivery centers in the U.S. and India. FMI’s latest market research reports and industry analysis help businesses navigate challenges and make critical decisions with confidence and clarity amidst breakneck competition. Our customized and syndicated market research reports deliver actionable insights that drive sustainable growth. A team of expert-led analysts at FMI continuously tracks emerging trends and events in a broad range of industries to ensure that our clients prepare for the evolving needs of their consumers.