Top Companies in PET Preform Market by Size, Share, Historical and Future Data & CAGR | Report by Vantage Market Research Market
PET Preform Market is projected to reach USD 18.4 Billion by 2028 at a CAGR of 3.7% over the forecast period.
The Global PET Preform Market is valued at USD 14.8 Billion in 2021 and is projected to reach USD 18.4 Billion by 2028 at a CAGR of 3.7% over the forecast period. The demand for PET Preforms in the personal care & cosmetics sectors has increased due to the longer shelf lives and variety of packaging possibilities these materials provide. The rising consumer demand for PET Preforms in the cosmetic and personal care industries has favorably impacted the expansion of the PET Preforms market. Both rising consumer demand and rising cosmetic sales for businesses bring this on. Additionally, the need for PET Preforms in the medical and pharmaceutical industries has grown due to increased demand for medicine packaging.
As carbonated soft drinks and water consumption increase, so will the demand for PET Preforms. The market is also driven by important factors like increased disposable income and the modernization of people's lifestyles
However, the growth rate of polyethylene terephthalate (PET) preforms and the high price of PET Preforms will slow down the market. The market for polyethylene terephthalate (PET) preforms will face additional difficulties due to fluctuating raw material prices and the advent of unfavorable conditions brought on by the COVID-19 epidemic.
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Amidst Exponential Growth in PET Preform Adoption, What Trends Should We Look Forward to?
- Increased sales in the food and beverage sector are a major trend for market expansion. PET goods have several benefits, including being lightweight, strong, and easy to use. As a result of these advantages, PET materials are widely employed in the packaged food and beverage industries.
- The increased use of recycled PET is also driving growth in the PET Preform Market. Recycled PET is being utilized more frequently to produce preforms since it is inexpensive and environmentally friendly. Thus, it is projected that this will hasten the growth of the PET Preform Market in the future years.
- PET Preforms are being sold more frequently lately for use in creating beverage containers. As a result, the market expansion rate of polyethylene terephthalate (PET) preforms will be driven by the growing demand for packaged drinking water and drinks.
- Due to its capacity to increase product shelf life without requiring refrigeration, aseptic packaging is becoming more and more popular. Due to their suitability as a material for aseptic packaging, PET Preforms are anticipated to see an increase in demand.
The PET Preform Market is dominated by globally established players such as ALPLA Werke Alwin Lehner GmbH & Co KG (Austria), Plastipak Holdings Inc. (US), RETAL Industries Ltd. (Cyprus), Resilux NV (Belgium), Societe Generale Des Techniques (France), Taiwan Hon Chuan Enterprises Co. Ltd. (Taiwan), Zhongfu Enterprise Co Ltd. (China), Manjushree Technopack Limited Co. (India), Logoplaste UK Ltd. (UK), Indorama Ventures Public Co. Ltd. (Thailand) and others.These companies have developed new products, adopted expansion strategies, and undertaken collaborations, partnerships, and mergers & acquisitions to gain traction in this high-growth PET Preform Market.
Let's Look at the Top 5 Companies That are Taking the PET Preform Market by Storm
The PET Preform Market is expected to grow from USD 14.8 billion in 2021 to USD 18.4 billion in 2028 because the demand for carbonated beverages is growing. Additionally, the growth is anticipated to be driven by an increase in the usage of PET Preforms in the packaging of non-food items, including cosmetics and medications, over the forecast period.
- ALPLA Werke Alwin Lehner GmbH & Co KG(Austria)
For a wide range of industries, ALPHA manufactures cutting-edge packaging systems, bottles, closures, and injection-molded parts made of PET Preform. It bases its business operations on resource conservation and sustainability. With its own recycling facilities and more than 25 years of recycling experience, it helps keep plastics in the material cycle.
- Plastipak Holdings Inc. (US)
In the packaging and recycling sectors, Plastipak is a world leader. Plastipak works at more than 50 locations worldwide, with innovation as a major motivator. Concerning meeting the PET packaging requirements of goods in various applications, its PET technologies include high-output blow molding production, package customization, and sustainable solutions.
- RETAL Industries Ltd.(Cyprus)
For the packaging, transportation, and storage of drinking water, baby food, dairy products, beer, low-alcohol, mineral water, carbonated beverages, juices, nectars, and alcoholic beverages up to 40% abv, edible oil, mayonnaise, ketchup, sauces, household goods, and cosmetics, RETAL offers a comprehensive selection of polyethylene terephthalate (PET) preforms. In addition to producing standard preforms, RETAL creates custom preforms specific to each customer's needs.
- Resilux NV(France)
Resilux is an adaptable, dynamic partner who is approachable and simple to work with. Since Resilux's inception, making PET (polyethylene terephthalate) preforms and bottles has been its primary business. It generates PET Preforms. This versatile material is simple to recycle and frequently resurfaces as foils, packaging, clothing fiber, and synthetic fabrics.
- SocieteGenerale Des Techniques(France)
For packing liquids, the Societé Générale des Techniques provides high-efficiency options. Thanks to its extensive plastics expertise and related knowledge in high-tech injection molding, it offers a continually expanding selection of PET Preforms, both monolayer and multilayer.
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