The Global PET Preforms Market is expected to register a CAGR of 3%, reaching a value of around USD 28.5 billion by the end of 2027.
PET Preforms are essentially products formulated by injection molding of polyethylene terephthalate (PET). PET preform is stiff, strong, dimensionally stable, and is water and chemical resistant. It is used as a replacement for glass and metal bottles as it is highly transparent and colorless.
PET preforms are used in packaging of bottled water, carbonated soft drinks, edible oil, and others.
Market Driver:
The demand for PET preforms is increasing on the account of high consumption of convenient beverages such as ready-to-drink coffee, tea, soft drinks, mineral water, and juices across the globe. This demand is attributed to the rising working population coupled with rising concerns about obesity and other health complications. Shifting consumer preference towards a healthier lifestyle has resulted in high demand for energy drinks and sugar-free and low-sugar soft drink varieties, which is likely to propel the demand for PET preforms.
Manufacturers in this market are focusing on incorporating value-adds like probiotics, functional ingredients, and even animal proteins into their products.
PET preforms are extensively used in cosmetic packaging due to a number of benefits offered by it. PET packaging uses significantly less energy and natural resources during the manufacturing process compared to glass packaging production. Additionally, it is recyclable, lightweight, non-reactive as well as chemical resistant. Moreover, it exhibits low permeability to humidity and gases which improves the shelf-life of products, thus driving the demand for PET preforms.
All the above-mentioned properties make PET preform as a suitable choice of packaging material for cosmetics products, thereby driving the global market during the assessment period.
Market Restraint:
In December 2018, the United Nations (UN) Environment Programme announced the release of a report on national laws and regulation of single-use plastics and microplastics worldwide. In 2015, plastic packaging waste accounted for 47% of the plastic waste generated globally, with half of that appearing to come from Asia. Governments across the globe are working towards the reduction of plastic packaging waste through bans and effective waste management systems.
Thus, regulations on the use of single-use plastics are expected to restrain market growth.
PET PREFORMS MARKET: REPORT SCOPE
The report on the PET preforms market covers a deep dive analysis of historic, recent and current market trends. Furthermore, market share/ranking analysis of key players, market dynamics, competition landscape, country-wise analysis for each region covered and the entire supply chain dynamics are covered through the below segmentation.
|
Report Features |
Specifics |
|---|---|
|
Historical/Estimated/Forecasted Market Size Years |
2018-2027 |
|
Base Year for Market Calculation |
2019 |
|
Forecasted Period |
2020-2027 (2020 estimated year, forecasted up to 2027) |
|
Measured Units |
Value (USD Million), Volume (Million Units) |
|
Segments Included |
Type, Application, and End-use Industries |
|
Regional Coverage |
North America, Asia-Pacific, Europe, Middle East & Africa, South America |
For the scope of the report, In-depth segmentation is offered by Forencis Research
PET Preforms Market, by Type
PET Preforms Market, by Application
PET Preforms Market, by End-use Industries
PET Preforms Market, by Region
60+ MARKET TABLES AND 30+ FIGURES WILL BE INCLUDED IN THE PET PREFORMS MARKET STUDY
Note1: Tentative table of contents, may get updated during the course of research.
Note2: Company financial information is subject to availability in public domain
60+ MARKET TABLES AND 30+ FIGURES WILL BE INCLUDED IN THE STUDY
