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Overview
A PET (Polyethylene Terephthalate) preform is a polyester molded in a test tube-shaped plastic that is manufactured by an injection molding process. PET preforms market is anticipated to gain significant momentum as PET numerous advantages including long service life, easy handling, and durability. The increased demand for PET preforms in multiple applications comprising carbonated soft drinks, cosmetics & chemicals, water, pharma & liquor, and food packaging will drive the demand for PET preforms.
PET is an eminent material for packing foods as it keeps eatable items pure, healthy without affecting the physical appearance, odor or taste. It is tough, unbreakable, and possesses high sustaining capability which makes it incredibly convenient for storing carbonated products. Further, it has quite low permeability to humidity and gases which in turn improves the shelf-life of products. It possesses molding capability of any design, shape, color and neck size which in turn make its adoption preferable in comparison to other available alternatives.
Key Market Drivers and Restraints:
Growing demand for packaged drinks
PET preform is a cost-effective solution for the packaging of carbonated soft drinks, edible oil, bottled water, and other care & domestic goods. The PET preforms in the recent few years have witnessed significant demand owing to rising consumption of packaged beverages products which include soft drinks, juiced, and ready-to-drink tea, coffee across both developing as well as developed countries.
Moreover, the rising demand for packaged drinking water is substantially contributing toward the upsurge in PET preforms market. Developing countries across the Asia Pacific and Middle East & Africa region have persistently faced challenges related to water supply shortages, which in turn has impelled inhabitants to rely on packaged drinking water. The shortage of public drinking water arrangements across the region is further aggravating demand for packaged water. This is anticipated to upscale the PET preforms market in the coming years.
Key Application:
Carbonated Soft Drinks is one of the emerging application for PET preforms
Among applications, the carbonated soft drinks segment is expected to hold a major share across the PET preforms market for the forecasted timeline. The product is witnessing an upsurge in the packaging of carbonated soft drinks due to its numerous advantages such as technical performance, longer shelf life, and lightweight. The PET offers cost-effectiveness in comparison to other packaging material, which in turn helps industry players to offer cheap products. The largest size of carbonated soft drinks is further attributed to the shifting customer preference for PET bottles as they are convenient to use in comparison to glass bottles.
Regional Market Scenario:
Asia-Pacific will lead the growth in this market
Asia Pacific region is analyzed to be the fastest-growing region across the PET preforms market. There is high consumption for PET preforms in developing economies across the region. Surging demand for purified water, food, carbonated soft drinks, pharmaceutical liquor, and beverages, on account of a growing population in countries including China and India, has raised the demand for plastic products, in turn driving the PET preform market. In 2016. According to the Council of Scientific and Industrial Research (CSIR), about 900-kilo tons of PET produced in India, out of which 90% were used in the manufacturing of PET products. 65% is recycled at recycling facilities, 15% is used across the unorganized sector and the remaining 10% is reused for domestic purposes. India possesses the highest recycling rate of PET products, which is driving the growth of PET preform market over the forecast period.
Key Market Players
Market Segments: PET Preform Market
Key Sources
Key Questions Answered
Key Stakeholders
Overview
A PET (Polyethylene Terephthalate) preform is a polyester molded in a test tube-shaped plastic that is manufactured by an injection molding process. PET preforms market is anticipated to gain significant momentum as PET numerous advantages including long service life, easy handling, and durability. The increased demand for PET preforms in multiple applications comprising carbonated soft drinks, cosmetics & chemicals, water, pharma & liquor, and food packaging will drive the demand for PET preforms.
PET is an eminent material for packing foods as it keeps eatable items pure, healthy without affecting the physical appearance, odor or taste. It is tough, unbreakable, and possesses high sustaining capability which makes it incredibly convenient for storing carbonated products. Further, it has quite low permeability to humidity and gases which in turn improves the shelf-life of products. It possesses molding capability of any design, shape, color and neck size which in turn make its adoption preferable in comparison to other available alternatives.
Key Market Drivers and Restraints:
Growing demand for packaged drinks
PET preform is a cost-effective solution for the packaging of carbonated soft drinks, edible oil, bottled water, and other care & domestic goods. The PET preforms in the recent few years have witnessed significant demand owing to rising consumption of packaged beverages products which include soft drinks, juiced, and ready-to-drink tea, coffee across both developing as well as developed countries.
Moreover, the rising demand for packaged drinking water is substantially contributing toward the upsurge in PET preforms market. Developing countries across the Asia Pacific and Middle East & Africa region have persistently faced challenges related to water supply shortages, which in turn has impelled inhabitants to rely on packaged drinking water. The shortage of public drinking water arrangements across the region is further aggravating demand for packaged water. This is anticipated to upscale the PET preforms market in the coming years.
Key Application:
Carbonated Soft Drinks is one of the emerging application for PET preforms
Among applications, the carbonated soft drinks segment is expected to hold a major share across the PET preforms market for the forecasted timeline. The product is witnessing an upsurge in the packaging of carbonated soft drinks due to its numerous advantages such as technical performance, longer shelf life, and lightweight. The PET offers cost-effectiveness in comparison to other packaging material, which in turn helps industry players to offer cheap products. The largest size of carbonated soft drinks is further attributed to the shifting customer preference for PET bottles as they are convenient to use in comparison to glass bottles.
Regional Market Scenario:
Asia-Pacific will lead the growth in this market
Asia Pacific region is analyzed to be the fastest-growing region across the PET preforms market. There is high consumption for PET preforms in developing economies across the region. Surging demand for purified water, food, carbonated soft drinks, pharmaceutical liquor, and beverages, on account of a growing population in countries including China and India, has raised the demand for plastic products, in turn driving the PET preform market. In 2016. According to the Council of Scientific and Industrial Research (CSIR), about 900-kilo tons of PET produced in India, out of which 90% were used in the manufacturing of PET products. 65% is recycled at recycling facilities, 15% is used across the unorganized sector and the remaining 10% is reused for domestic purposes. India possesses the highest recycling rate of PET products, which is driving the growth of PET preform market over the forecast period.
Key Market Players
Market Segments: PET Preform Market
Key Sources
Key Questions Answered
Key Stakeholders