PET Preforms Market to Reach $23.3 Billion by 2022 - Analysis By Type, Application & Region
The global PET preforms market is expected to reach USD 23.35 Billion by 2022, at a CAGR of 5.31% from 2017 to 2022. In terms of volume, the market size is projected to reach 552.64 Billion units by 2022, at a CAGR of 4.1% from 2017 to 2022. PET preforms are unfinished PET bottles with varied neck sizes. They are made of PET resins, which are linear thermoplastic, white but bluish resin made from terephthalic acid and ethylene glycol through a process of polycondensation. PET preforms are either produced using the one-step hot preform method or the two-step cold preform method. PET preforms have applications such as carbonated soft drinks, water, food, non-carbonated drinks, cosmetics & chemicals, pharma & liquor, and others. These application segments drive the PET preforms market globally.
In 2016, the carbonated soft drinks segment accounted for the largest share of the PET preforms market and is expected to continue to be the largest segment throughout the forecast period. PET preforms are used in packaging of carbonated soft drinks due to their properties such as light weight, ease of handling, technical performance, and longer shelf life.
The growth in consumption of carbonated soft drinks has increased the demand of PET bottles, which, in turn, has led to an increased demand for PET preforms. In 2016, the Asia Pacific region accounted for the largest share of the global PET preforms market. China is expected to account for the largest share of the Asia Pacific PET preforms market till 2022, whereas, India is anticipated to be the fastest-growing PET preforms market during the forecast period.
With the growing awareness regarding health, consumers are avoiding sugary beverages and inclining more towards healthier options such as juices, bottled water, and sports and energy drinks. This is affecting the carbonated soft drinks market and might act as a restraint to the growth of the PET preforms market.
Companies have adopted strategies such as new product developments, expansions, and mergers & acquisitions to enhance their market shares and widen their distribution networks in the PET preforms market. These companies engage in research & development activities to innovate and develop products that can open new avenues of applications. For instance, Retal Industries Ltd. started construction of a manufacturing plant and a regional headquarter in Donora, US. The company has planned to invest at least USD 15 million in the project which may reach up to USD 24 million. With this project, the company expects to increase its regional presence in North America.
Key Topics Covered:
2 Research Methodology
3 Executive Summary
4 Premium Insights
5 Market Overview
6 Pet Preform Market, By Type
7 Pet Preform Market, By Application
8 Pet Preform Market, By Region
9 Competitive Landscape
10 Company Profiles
For more information about this report visit https://www.researchandmarkets.com/research/r4gppj/pet_preforms
Laura Wood, Senior Manager
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