The PET preforms market has been growing progressively due to the increasing adoption of PET bottles for packaging of various beverages such as water, carbonated soft drinks, juice, and dairy products. PET preforms are hollow plastic structures that are expanded using stretch blow molding to produce PET bottles. Compared to glass and other plastic bottles, PET bottles are lightweight and enable cost-efficient transportation. They also offer excellent barrier properties to protect packaged contents.
Market key trends:
The increased demand for packaging of various food and beverages has been a major factor fueling the growth of the PET preforms market. PET preforms find widespread application in the packaging of carbonated soft drinks, water, juices, cooking oils, sauces, and dairy products. According to the International Bottled Water Association, the bottled water industry worldwide recorded a sales volume of over 290 billion liters in 2019 with the United States accounting for over 44 billion liters. The high growth of the bottled water industry has augmented the demand for PET bottles, thereby benefiting the PET preforms market. Further, growing health-consciousness among consumers has boosted the demand for bottled beverages packaged in PET bottles. This rising trend has had a positive impact on market growth over the past few years.
Segment Analysis
The PET preform market can be segmented based on neck type, technology, and application. In terms of neck type, the threaded neck segment dominates the market owing to its low production costs and ease of use during the blow molding process.
Key Takeaways
The Global PET Preforms Market Demand is expected to witness high growth.
Asia Pacific dominates the global PET preform market and is expected to maintain its lead over the forecast period. Rapid industrialization and and carbonated soft drinks industries are driving the market in the region. Within Asia Pacific, China holds the largest share due to the presence of a large bottling industry and low labor costs.
Key players operating in the PET preform market are RETAL Industries Ltd., Plastipak Holdings, Inc., Resilux NV, ALPLA Group, Koksan AS, Taiwan Hon Chuan Enterprises Co., Ltd., PDG Plastiques S.A.S, Esterform Packaging, Zhuhai Zhongfu Enterprise Co. Ltd., and Indorama Ventures Public Company Limited.
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