PET Preforms Market

PET Preforms Market Size (2024-2029):

The Global PET Preforms Market is expected to grow at a CAGR of 5.29% during the forecast period 2024-2029. The market value was at USD 18.11 billion in 2023, and the value is expected to reach USD 24.67 billion by the end of 2029.

MARKET OVERVIEW

PET preforms are unfinished PET bottles with various neck sizes. They are made with PET resins, which are linear, white but bluish thermoplastic resins based on terephthalic acid and ethylene glycol through a polycondensation process. The latter is a widely available thermoplastic polyester. The worldwide market for PET preforms is growing steadily and is predicted to maintain momentum over the next two years. One of the reasons behind this is the various perceived advantages of PET. It is rigid, strong, dimensionally stable, and resistant to water and chemicals. Therefore, it is highly replacing glass and metal bottles.

MARKET DRIVERS

PET products have various properties such as being lightweight, having long service life, and being easy to handle. Due to these advantages, PET products are widely employed in packaged food and beverage industries. They are widely employed in the health and cosmetic industries due to innovations in the packaging industry. The escalating call for weight reduction of packaging increased consumption of carbonated beverages, and the development of new products are some of the main drivers of the expansion of the global PET performance market. In the short term, the world market for PET performs is predicted to grow due to the many advantages of PET products.

The most important of them is their long service life and lightweight. They are also easy to handle. This made them extremely popular in the food and beverage industry. The products are also finding mass adoption in the cosmetic and healthcare industries, which are constantly in search of innovative packaging. The worldwide market for PET preforms may also receive a boost from the escalating consumption of carbonated beverages and the like. Another factor that is believed to fuel the market is the continued drive for product development. Manufacturers and independent research organizations propose better techniques to produce more advanced products. Thanks to these initiatives, PET bottles find use in many fields.

MARKET RESTRAINTS

Strict government regulations on the use of plastic products and the unavailability of recycling facilities are major limitations in the PET preform market.

MARKET OPPORTUNITIES

Despite these challenges, the worldwide market for PET forms is predicted to increase due to the massive call for PET bottles from different end-use industries. This is due to increased urbanization, disposable income, and consumerism.

MARKET CHALLENGES

The strict rules restricting the use of plastic represent a challenge for the worldwide market for PET preforms. This is because plastic is considered non-biodegradable. Not only government agencies but also NGOs and other organizations are raising awareness about the need to recycle plastic or limit its use.

REPORT COVERAGE

SEGMENTAL ANALYSIS

PET Preforms Market Analysis By Neck Size

Based on neck size, the 28mm segment is predicted to contribute a significant revenue share in the global PET preform market and record the highest CAGR of over 5%, in terms of revenue during the foreseen period. 

PET Preforms Market Analysis By Application

Among the applications, the market share of the carbonated beverage segment in the worldwide PET preforms market is predicted to increase significantly over the foreseen period. This can be attributed to the increase in the consumption of carbonated soft drinks, due to the increase in the young population and the increase in the disposable income of consumers.

REGIONAL ANALYSIS

Geographically, Asia-Pacific is considered a key region in the worldwide market for PET preforms. This is due to the growing call from the developing economies of Japan, China, and India. The organic expansion of end-use industries, such as purified water, soft drinks, pharmaceutical alcoholic beverages, and food and beverage, has greatly influenced the plastics industries in the region. This has led to the expansion of the PET preform market. Europe and North America could be other leading markets in the race for first place in the worldwide PET preform market. The Asia-Pacific region is considered to be the fastest-growing region in the PET preforms market.

The consumption of PET preforms is high in the developing economies of the region. The growing call for purified water, food, carbonated beverages, pharmaceutical alcohols, and beverages, due to population expansion in countries such as China and India, has increased the call for plastic products, resulting in the market for preforms. of PET. As of 2019. According to the Council for Scientific and Industrial Research (CSIR), around 900 kilograms of PET are produced in India, 90% of which is employed in the manufacture of PET products. 65% is recycled in recycling facilities, 15% is employed in the unorganized sector and the remaining 10% is reemployed for domestic purposes. India has the highest recycling rate of PET products, which is driving the expansion of the PET preforms market during the foreseen period.

KEY PLAYERS IN THE GLOBAL PET PREFORMS MARKET

Companies playing a prominent role in the global PET preforms market 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), and Others.

DETAILED SEGMENTATION OF THE PET PREFORMS MARKET INCLUDED IN THIS REPORT

This research report on the global PET preforms market has been segmented and sub-segmented based on neck size, application, and region.

By Neck Size

• 25mm
• 28mm
• 29mm
• 30mm

By Application

• Carbonated drinks
• Bottled water
• Other drinks
• Edible oil
• Food items

By Region

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa