PET Preforms Market Research, 2032
The global PET preforms market size was valued at $23.0 billion in 2022, and is projected to reach $35.4 billion by 2032, growing at a CAGR of 4.5% from 2023 to 2032.
Report Key Highlighters:
- The PET preforms market study covers 20 countries. The research includes a segment analysis of each country in terms of both value ($million) and volume (tons) for the projected period 2022-2032.
- The study integrated high-quality data, professional opinions and analysis, and critical independent perspectives. The research approach is intended to provide a balanced view of global markets and to assist stakeholders in making educated decisions in order to achieve their most ambitious growth objectives.
- Over 3,700 product literatures, annual reports, industry statements, and other comparable materials from major industry participants were reviewed to gain a better understanding of the market.
- The PET preforms market growth is highly fragmented, with several players including The major players operating in the industry include PLASTIPAK HOLDINGS, INC., Retal Industries LTD., RESILUX NV, Taiwan Hon Chuan, Manjushree Technopack Ltd., KOKSAN Pet Packaging Industry Co., Esterform Ltd, RAWASY, CAIBA, and Eskapet Pet Product Ltd. Also tracked key strategies such as acquisitions, product launches, mergers, expansion etc. of the players operating in the PET Preforms market.
Preforms are intermediary materials that are blown into polyethylene terephthalate (PET) containers afterward. Polyethylene Terephthalate (PET) preforms are manufactured in a variety of neck finishes, colors, weights, shapes, and are custom-made to satisfy the needs of customers in various markets including food & beverages and cosmetics. PET preforms are used for packaging in a variety of industries, including food & beverage, pharmaceuticals, home care, personal care, and household products. Owing to the rise in the use of packaged beverages, the demand for PET preforms is increasing.
PET preforms are used by domestic product makers for packaging of products such as edible oil, cleaning solutions, and a variety of other products. Companies are using PET preforms to make bottles, which are then utilized to store their products. The method used for manufacturing of bottles using PET preforms is known as hot filling and it is quite popular in industrialized countries as it does not require the use of preservatives and is cost-effective. Polyethylene terephthalate and its co-polyesters are widely used for making containers such as bottles for various packaged beverages including carbonated beverages, juice, and water. PET has an excellent combination of clarity, mechanical properties, and gas barrier properties; however, these properties can be improved.
PET preforms are manufactured by heating the PET polymer starting material to form a PET polymer melt and then introducing the polymer melt into one or more mold cavities having the shape of the desired preform. Upon cooling, a polymer preform is produced. PET preforms are used in manufacturing of PET bottle by blow molding method. These PET bottles are made according to a two-step process known as injection stretch blow molding. In the first step, a molten crystallizable PET resin is introduced into a mold cavity having the shape of the desired preform. Upon cooling, the molten polymer material produces a solid preform. In the second step, the preform is heated rapidly and then inflated against a two-part mold to form it into the final shape of the PET bottle.
PET preforms industry offer a number of advantages such as excellent transparency, water-resistance and are impermeable.
PET preforms has good electrical insulation, and it does not produce toxic gas when burned. Moreover, they have a long shelf life and are light in weight, which have made PET preforms immensely popular in the food and beverage market. Moreover, PET preforms are also gaining a lot of popularity in the cosmetics and healthcare industries, which are always looking for new ways to package their products. Owing to the numerous benefits of PET products, the global PET preforms market is expected to grow in the near future. The beverage industry is expected to be a major end user of PET preforms.
The global PET preforms market is benefiting from the growth of the ready-to-drink (RTD) market. Single-serve RTD beverages are becoming increasingly popular globally. The availability of such products in local supermarkets and convenience stores is likely to aid market expansion and expedite growth. Owing to the changing lifestyles, ready-to-drink (RTD) beverages have become more popular. Food and beverage product packaging is carefully designed by producers with target clients in mind, are also contributing to the causes for growing popularity.
The PET preforms market share is segmented on the basis of neck type, neck size, application and region. On the basis of neck type, global PET Preforms market is classified into ROPP, Standard PCO, Alaska, CTC Preforms, and others. By neck size, the market is categorized into 25 Mm, 28 Mm, 29 Mm, 30 Mm and others. On the basis of application, the market is divided into carbonated soft drinks, water, food, non-carbonated drinks, cosmetics & chemical, and others.
PET preforms an imperative function in ensuring the tightness and safety of bottle closures below pressure. Standard PCO preforms are recommended for making bottles for carbonated drinks due to their dimensionally accurate manufacturing and compatibility with non-toxic thermoplastic polymer, particularly polyethylene terephthalate. These preforms are recognized for their sturdy structure, which consequences in sturdy partitions and a smooth floor finish. They are reachable with 28mm neck diameters and come in a variety of weights, from 12 grams to 54 grams. The use of well-known PCO preforms is expected to drive demand in the PET preforms market in the future.
28 Mm of PET preform has a neck of 28 Mm diameter. This preform is an intermediate product that is blown up into PET bottles, jars, or containers. These 28 mm PET preforms are extensively used in the packaging of carbonated soft drinks and water. An increase in the consumption of carbonated tender drinks and bottled water is anticipated to boost the market growth in the near future.
The demand for water is driven by way of a combination of population growth, socio-economic development, and changing consumption patterns. Hence, it becomes essential to store water and use it wisely. PET preforms are widely used to store water as they are more durable, clear, lightweight, non-reactive, cost-effective, and thermally secure than polypropylene (PP), and (polyvinyl chloride) PVC preforms.
The growing economies in the Asia-Pacific region have motivated the pharmaceutical area as there has been continuous lookup and development, set up of technologically advanced equipment. PET preforms market forecaste the healthcare and pharmaceutical sectors as ethylene glycol-based polyethylene terephthalate is used to package a range of medications, from tablets to syrups.
The sale of drugs has increased over time as more individuals have begun taking medications. As a result, the demand for PET preforms has increased in the medical and pharmaceutical sectors for the packaging of drugs, main to significant market growth. Many manufacturers are offering their products in this area mainly due to the expansion of the PET preforms market.
Historic Trends of PET Preforms Market:
- In the 1970s, PET as a material had been around for some time, primarily used for fibers. In the 1970s, the idea of using PET for containers gained momentum due to its lightweight and strong characteristics.
- The 1980s saw significant advancements in the production of PET preforms. Manufacturers developed injection molding techniques to produce preforms more efficiently. The adoption of injection molding for PET preforms led to several key benefits, including improved precision, consistency, and cost-effectiveness in their production.
- In the 1990s, PET preforms marked a substantial increase in the use of PET preforms for beverage containers, particularly in the carbonated drinks industry. The PET bottle started replacing glass bottles for many soft drinks.
- In the 2000s, PET preforms continued to gain popularity as the preferred material for beverage and water bottles. The technology for manufacturing thinner-walled preforms improved, reducing material usage and making bottles lightweight.
- The 2010s brought about innovations in PET preform design and manufacturing, making them even lighter and more sustainable. This was driven by growing emphasis on environmental concerns and sustainability.
- Sustainability remained a key focus in the 2020s. Companies started using recycled PET (rPET) to produce preforms, contributing to the circular economy and reducing plastic waste.
Key Benefits For Stakeholders
- This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the pet preforms market analysis from 2022 to 2032 to identify the prevailing pet preforms market opportunities.
- The market research is offered along with information related to key drivers, restraints, and opportunities.
- Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
- In-depth analysis of the pet preforms market segmentation assists to determine the prevailing market opportunities.
- Major countries in each region are mapped according to their revenue contribution to the global market.
- Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
- The report includes the analysis of the regional as well as global pet preforms market trends, key players, market segments, application areas, and market growth strategies.
PET Preforms Market Report Highlights
Aspects | Details |
Market Size By 2032 | USD 35.4 billion |
Growth Rate | CAGR of 4.5% |
Forecast period | 2022 - 2032 |
Report Pages | 474 |
By Neck Size |
|
By Type |
|
By Application |
|
By Region |
|
Key Market Players | Taiwan Hon Chuan, Manjushree Technopack Ltd., Retal Industries LTD., RAWASY, PLASTIPAK HOLDINGS, INC., KOKSAN Pet Packaging Industry Co., CAIBA, Esterform Ltd., Eskapet Pet Product Ltd., RESILUX NV |
Analyst Review
According to the opinions of various CXOs of leading companies, with the increase in the consumption of carbonated drinks, the global PET preform market is expected to grow during the forecast period. PET preforms are utilized in the manufacturing of PET bottles for carbonated soft drinks due to their properties, including lightweight, simplicity, specialized execution, and longer shelf-life.
Surge in consumption of carbonated and other soft drinks is further expected to propel market growth. Furthermore, the market for PET preforms has grown as global plastic industries have been boosted by the organic expansion of the applications of plastic such as for purified water, soft drinks, medicinal liquor, and food & beverages. However, stringent environmental regulations and threat of substitutes are expected to affect the overall market growth globally.
The global PET preforms market was valued at $23.0 billion in 2022, and is projected to reach $35.4 billion by 2032, growing at a CAGR of 4.5% from 2023 to 2032.
PLASTIPAK HOLDINGS, INC., Retal Industries LTD., RESILUX NV, Taiwan Hon Chuan, Manjushree Technopack Ltd., KOKSAN Pet Packaging Industry Co., Esterform Ltd, RAWASY, CAIBA, and Eskapet Pet Product Ltd. are the top companies to hod the market share of PET preforms market
The leading application of PET preforms market are carbonated soft drinks, water, food, non-carbonated drinks, cosmetics & chemical, and others.
Increased demand for PET preforms from wide range of end-use industries are the upcoming trends of PET preforms market in the world.
Increase in demand for packaged beverages and increase in preference for recycled PET bottles are the driving factors of PET preforms market.
Challenges to recycling of PET bottles are the restraint factors of PET preforms market.
Asia-Pacific is the largest region of PET preforms market.
Loading Table Of Content...
Loading Research Methodology...