PUNE, India, July 11, 2017 /PRNewswire/ --
The report "PET Preforms Market by Type (Type 1, Type 2, Type 3, Type 4, Type 5), Application (Carbonated Soft Drinks, Water, Food, Non-Carbonated Drinks, Cosmetics & Chemicals, Pharma & Liquor), and Region - Global Forecast to 2022", published by MarketsandMarkets™, the Global PET Preforms Market was at USD 17.14 Billion in 2016 and is projected to reach USD 23.35 Billion by 2022, at a CAGR of 5.31% from 2017 to 2022.
Browse 56 Market Data Tables and 45 Figures spread through 132 Pages and in-depth TOC on "PET Preforms Market - Global Forecast to 2022"
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The market is driven by the increased demand for PET preforms from various application segments, such as carbonated soft drinks, water, food, non-carbonated soft drinks, cosmetics & chemicals, pharma & liquor, and others. The carbonated soft drinks application segment led the global PET preform market, in terms of volume, in 2016.
Type 1 (Carbonated BPF/PCO/Others) PET preforms segment is estimated to be the largest type of the global PET preform market
The Type 1 PET preforms segment is estimated to be the largest type segment of the global PET Preforms Market. This type is used in packaging of carbonated soft drinks. The growth in this segment is attributed to the rising demand for carbonated beverages from Asia Pacific and Middle East & Africa.
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Carbonated soft drinks application segment is estimated to be the largest application segment of the global PET Preforms Market
Among applications, the carbonated soft drinks segment is estimated to be the largest application segment of the global PET Preforms Market. The large share of this segment is attributed to the increased customer preference for PET bottles in the carbonated soft drinks market as PET bottles are convenient to use as compared to glass bottles.
Rising demand for PET preforms in Asia Pacific contributes to the high growth of this market
In 2016, Asia Pacific accounted for the largest share of the global PET Preforms Market. The PET Preforms Market in this region is expected to grow at the highest CAGR between 2017 and 2022. Currently, China is the largest market for PET preforms in Asia Pacific, and is expected to continue to be the largest market till 2022. In China and India, the demand for PET preforms is expected to increase due to PETs cost effectiveness, safer properties, and longer shelf life. Additionally, growing population in these countries present a huge customer base for manufacturers of PET preforms. The manufacturers are focusing on this region as it has the largest customer base.
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Key companies profiled in the global PET Preforms Market research report include Retal Industries Ltd. (Cyprus), Plastipak Holdings, Inc. (US), RESILUX NV (Belgium), ALPLA Werke Alwin Lehner GmbH & Co KG (Austria), Zhuhai Zhongfu Enterprise Co. Limited (China), Societe Generale des Techniques (France), Indorama Ventures Public Company Limited (Thailand), KOKSAN Pet Packaging Industry Co. (Turkey), Taiwan Hon Chuan Enterprise Co., Ltd (Taiwan), and Rawasy Al Khaleej Plastic Ind. (UAE).
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