NEW YORK, June 5, 2018 /PRNewswire/ --
The research report, "Global PET Preforms Market by Neck Size (25mm, 28mm, 29mm & 30mm, and others), By Application (Carbonated Drinks, Bottled Water, Other Drinks, Edible Oil, Food Items, and Others), and Region - Global Forecast to 2026.", which offers a holistic view of the PET preforms market through systematic segmentation that covers every aspect of the target market. The first five-year cumulative revenue (2017-2021) is projected to be US$ 98.5 Bn, which is expected to increase significantly over the latter part of the five-year forecast period. According to report, PET preforms market is projected to reach a value of over US$ 29.3 Bn in 2026 at a CAGR of 5.8% over the forecast period.
Preforms are molded products of certain shape, form, and size, which are then further blown to make bottles in blowing machines. PET preforms are made of PET (polyethylene terephthalate), which is one of the most common thermoplastic polymer resin in polyester family. PET preforms are highly delicate products, the bottles made from them look very similar to glass bottles, however they are not fragile like glass. A key characteristic of PET preform is that the products (or bottles) made from it are durable, sturdy, transparent, smooth and sparkly, which can attract buyer's attention. PET bottles are gaining preference owing to its lightweight, good resistance, durable, non-breakable, cost effective, and reusable nature.
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Global PET Preforms Market: Market Dynamics
Rapid development of the fast moving consumer goods (FMCG) industry is one of the key driver expected to boost growth of the global PET preforms market. Rinsing consumption of FMCG such as carbonated drinks, juices, cosmetics, and food items, has led to an increasing usage of PET preforms for production of PET bottles, jars, tubes, and others. In addition, availability of PET bottles in all sizes, and other properties such as convenience to carry, hygienic, ease of handling, durable, and lightweight, is increasing adoption of PET bottles globally, thus driving consumption of PET preforms globally.
PET preforms and bottles are also extremely cost-effective, durable, and safe. PET bottles cost less than US$ 0.60 for a 500 ml bottle or lesser when bought in bulk. Food & beverages, and personal care product companies find PET bottles highly cost-effective, as compared to other alternatives such as glass, and aluminum bottles. Also, PET bottles or plastic is considered most environmentally friendly among glass, and aluminum, and is more durable compared to other options.
Rise in tourism is also expected to boost consumption of bottled water, which is another factor expected to boost growth of the global PET preforms market over the forecast period. In addition, increasing incidence of waterborne diseases such as typhoid, hepatitis A, diarrhea, and others, and increasing health awareness are fueling consumption of bottled mineral water.
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Global PET Preforms Market: Market Forecast
The comprehensive research report comprises a complete forecast of the global PET preforms market based on factors affecting the market and their impact in the foreseeable future. According to the forecast projections, revenue from the global PET preforms market is expected to expand at a moderate CAGR of 5.8% during the forecast period.
Global PET Preforms Market: Segmental Snapshot
The market report has been segmented on the basis of neck size, application, and region. The neck size segment includes 25mm, 28mm, 29mm & 30mm, and others. The application segment includes carbonated drinks, bottled water, other drinks, edible oil, food items, and others. The regions covered in the analysis are North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.
By neck size: The 28mm segment accounted for highest revenue share contribution as compared to other segments, and is expected to register a CAGR of over 6% between 2017 and 2026, owing to its wide application across soft drinks, food items, cosmetics, and others.
By application: The carbonated drinks segment is projected to account for highest revenue share as compared to that of other application segment, and register a CAGR of over 6% over the forecast period, owing to increasing consumption of carbonated drinks in developing countries such as India, China, Brazil, Mexico, and others.
By region: The market in Asia Pacific accounted for highest revenue share in the PET preforms market in 2016, and is expected to register a CAGR of over 6 % between 2017 and 2026, owing to the presence of prominent players in the region.
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Global PET Preforms Market: Competitive Analysis
The research report on the global PET preforms market includes profiles of some of major companies such as Retal Industries LTD., Plastipak Holdings, Inc., RESILUX NV, 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 KG, and KOKSAN Pet Packaging Industry Co.
The Global PET Preforms Market: Global Industry, Size, Share, Growth, Trends, and Forecast, 2017-2026 report has been prepared based on an in-depth market analysis with inputs from industry experts. This report covers the present scenario and the growth prospects of the Global PET Preforms Market for 2017-2026.
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