Global PET Preforms Market: Key Highlights
Global PET Preforms Market: Key Market Dynamics
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Global PET Preforms Market: Regional Overview
North America accounted for the largest market share in 2018 due to the high demand from the food & beverage industry. The high working population and luxurious lifestyle trend of the consumers in the region propel the demand for Pet preform market. The robust manufacturing base of global producers such as Tyson Foods Inc., PepsiCo Inc., Nestle, Coca Cola Company, and others in the US, is anticipated to promote the demand for plastic packaging.
Asia-Pacific emerged as the fastest-growing region for this market, mainly driven by the expanding end-use industries. Growth potential in countries such as India, Japan, China, others is propelling the market growth. In addition to this, PET preforms are used in the packaging of cosmetics products, which further drive global demand. Higher penetration of international cosmetics brands such as Revlon, Loreal, Mac, Bobbi Brown, and others is a key catalyst for market growth.
Global PET preforms Market: Key Players Overview
SGT specializes in plastic packaging for potable and other liquid. It operates 5 sites, produces over 5 billion preforms per year, and exports its products all over the world. In December 2018, the company invested approximately USD 24.05 million in its new production facility. This facility will manufacturer PET preforms and will be built in Eastern France.
Esterform Ltd manufactures injection molded PET preforms, and stretch blow molded PET containers. In November 2019, the company entered in agreement with soft drinks producer Britvic, wherein Esterform Ltd will serve as a supplier of rPET in the UK and Ireland.
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