According to the report, the global PET preform market was valued at $23.0 billion in 2022 and is projected to reach $35.4 billion by 2032, growing at a CAGR of 4.5% from 2023 to 2032.
Prime determinants of growth
The global PET preforms market is experiencing growth due to several factors such as increase in preference for recycled PET bottles. Economic considerations play a pivotal role in the growing preference for recycled PET bottles. As the demand for recycled PET increases, it creates opportunities for businesses involved in the recycling and manufacturing of recycled PET products.
However, challenges to recycling of PET bottles hinders the market growth to some extent. Moreover, increase in demand for PET preforms from wide range of end-use industries offers remunerative opportunities for the expansion of the PET preforms market.
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The standard PCO segment dominated the market
Based on type, the standard PCO segment held the highest market share in 2022, accounting for more than one third of the global PET preforms market revenue, and is estimated to maintain its leadership status throughout the forecast period. This is due to standard PCO (plastic closure only) preforms are used to produce PET bottles for carbonated soft drinks, juices, sauces (water products), and industrial chemicals. Their normal neck measures 28 mm.
However, the standard PCO segment is projected to manifest the highest CAGR of 4.97% from 2023 to 2032. Growth of the PET preforms market is driven by rise in popularity of serving carbonated beverages as a side drink in various restaurants and cafes. The demand for carbonated drinks is expanding due to rise in innovations and introduction of new products, including diet, sugar-free, and zero-calorie beverages, leading to the expansion of the PET perform market.
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The carbonated soft drinks segment is expected to grow substantially throughout the forecast period
- Based on the application, the water segment held the highest market share in 2022, accounting for one third of the global PET preforms market revenue and is likely to retain its dominance throughout the forecast period. This can be attributed to the fact that PET preforms are widely used to store water as they are more durable, clear, lightweight, non-reactive, cost-effective, and thermally stable than polypropylene (PP), and (polyvinyl chloride) PVC preforms.
- However, the carbonated soft drinks segment is projected to manifest the highest CAGR of 4.9% from 2023 to 2032. This growth is attributed to soft drinks feature a unique design that increases their resistance to internal pressure, ensuring that the bottle keeps its functionality and form throughout transportation or refrigeration.
Key Benefits of the Report:
- This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the pet preforms market analysis from 2022 to 2032 to identify the prevailing pet preforms market opportunities.
- The market research is offered along with information related to key drivers, restraints, and opportunities.
- Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
- In-depth analysis of the pet preforms market segmentation assists to determine the prevailing market opportunities.
- Major countries in each region are mapped according to their revenue contribution to the global market.
- Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
- The report includes the analysis of the regional as well as global pet preforms market trends, key players, market segments, application areas, and market growth strategies.
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Leading Market Players: -
- RETAL INDUSTRIES LTD.
- TAIWAN HON CHUAN
- RESILUX NV
- MANJUSHREE TECHNOPACK LTD.
- PLASTIPAK HOLDINGS, INC.
- ESTERFORM LTD.
- CAIBA
- RAWASY
- KOKSAN PET PACKAGING INDUSTRY CO.
- ESKAPET PET PRODUCT LTD
The report provides a detailed analysis of these key players in the global PET preforms market. These players have adopted different strategies such as new product launches, collaborations, expansion, joint ventures, agreements, and others to increase their market share and maintain dominant position in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.
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It is used in a variety of different industries for a wide range of purposes including tubing and pipe fittings, as well as many different types of protective coatings for products like medical devices.
The demand for packaged drinking water has been on a rise in both developed and emerging economies due to convenience and increased awareness regarding drinking clean water.
As per the Trade Promotion Council of India, in 2019, the Indian packaged drinking water bottle market was valued at US$ 24 billion, which is expected to reach US$ 60 billion by 2023.
This material is also frequently found in medicines, lubricants, and even electronics because it's so durable and reusable.
When it comes to regional impact, emerging economies such as Japan and China are exhibiting high growth in the PET performs market.
Besides, the demand for carbonated drinks is gradually slowing down since consumers are becoming increasingly aware of the adverse effects of these drinks.
The most recent report on PET Preforms Market gives a fundamental survey of the business including definitions, groupings, applications, and industry chain structure. This report demonstrates to be a helpful guide for the people identified with market as it obliges information, for example, progression designs, aggressive scene assessment, and key regions improvement status. The assessment is a perfect mix of both quantitative and subjective information highlighting key market expansions, challenges that industry and contention are attempting close by division and new open doors available and design in the Market.
Major Market Players in Global PET Preforms Market are:
Key players in the global PET preforms market includes Retal Industries LTD., Plastipak Holdings, Inc., RESILUX NV Pvt Ltd., Taiwan Hon Chuan Enterprise Co., Ltd., Zhuhai Zhongfu Enterprise Co. Ltd., Rawasy Al Khaleej Plastic Ind., Societe Generale des Techniques, Indorama Ventures Public Company Limited, ALPLA Werke Alwin Lehner GmbH & Co., KOKSAN Pet Packaging Industry Co.
Segmentation: Global PET Preforms Market
PET Preforms market, By Neck Size :25mm, 28mm, 29mm & 30mm, and Other
PET Preforms market, By Application: Carbonated Drinks, Bottled Water, Other Drinks, Edible Oil, Food Items, and Others
PET Preforms market, By Forms :Liquid and Dry
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Significant themes profiled in this report are as per the following:
- Detailed investigation of the worldwide and provincial markets of the PET Preforms industry.
- The report enables you to find out about the organizations working in the overall PET Preforms advertise. The outline of the organization spreads total investigation of its most recent improvements, SWOT examination, income and item portfolio.
- A reasonable view and comprehension of the considerable number of fragments to survey the patterns and improvements in the worldwide business and market size gauge to 2029.
- The development factor demonstrates a short investigation of the topographies and the item sections on which market players should watch out to contribute, incorporate and grow.
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– The report assists in planning the business strategies by highlighting the PET Preforms business precedence.
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– Rescue time on the entry-level analysis because the report serves very crucial info regarding growth, size, key players and segments of the business.
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