PET Preforms Market Set for Rapid Growth And Trend by 2025
Polyethylene terephthalate (PET) preforms are the unfinished products made by injection molding of polyethylene terephthalate, which is the most common thermoplastic polyester. PET is strong, stiff, hard, and dimensionally stable material. It is resistant to water, gas, and all the chemicals except alkalis. PET is colorless and highly transparent. Food and beverages industries are continuously replacing glass and other metals bottle with PET bottles.
PET products have various properties such as light weight, long shelf life, and are easy to handle, owing to these advantages PET products are widely used in packaged food and beverages industries. PET products are widely used in healthcare and cosmetics industries, due to the innovations in packaging industry. Increasing demand for pack weight reduction, the rise in consumption of carbonated soft drink, and new product developments are some of the major drivers for the growth of PET preform market. Stringent government regulations on usages of plastic products and unavailability of recycling facilities are major restraint for PET preforms market.
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PET preform Market outlook:
Asia Pacific is the fastest growing region in PET preforms market. There is high demand for PET preforms in emerging economies such as China, Japan, and India. China is the largest market for PET preform in this region. Increasing demand for carbonated soft drinks, purified water, food, beverages, and pharmaceutical liquor due to the growing population in economies such as India and China has increased the demand for plastic products and plastic industries, in turn fueling the PET preform market in this region. According to Council of Scientific and Industrial Research (CSIR)-National Chemical Laboratory (NCL), nearly 900-kilo tons of PET was produce in India in 2015-16, out of which 820-kilo tones were used in the production of PET products. 65% of the same is recycled at registered recycled facilities, 15% is unorganized sector and 10% is reused for domestic uses. India has the highest recycling rate of PET products, which is the major driving factor for the growth of PET preform market over the forecast period.
Europe is the second largest market in the PET preforms. Europe shows steady growth in plastic industry market from last five year. Germany, Italy, France, and U.K are the major economies in the production of plastic products in this region. According to the PlasticsEurope, Research and Statistics group (PEMRG), out of total plastic production in Europe, about 39% of plastic is used in the packaging application. In 2013, 41% of plastic packaging was recycled in Germany. Increasing demand in the packaging of food and beverages and increasing awareness about recycled products are the major factors fueling the growth of the PET preforms market in this region over the forecast period.
North America is the leading player in plastic industries. Canada and the U.S are the major players in the plastic and plastic products industry. Around 92% of plastic products manufactured in Canada are exported to the U.S. Canada’s plastic industry valued at over US$ 17 billion. Canada and Mexico are the primary export markets for the U.S. Leading plastic industry groups of North America, such as Plastic Industry Association (PLASTICS), Canadian Plastics Industry Association (CPIA) and Asociación Nacional de Industrias del Plástico A.C. (ANIPAC) are focusing on growth and development of plastic industry across the North America. These groups are actively working towards forming a common industry platform to implement priority policies, in line with the modernization of North America Free Trade Agreement (NAFTA), which will strengthen the growth of plastic industry in near future.
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In February 2017, Alpha packaging company has acquired Star East PET. Alpha is the largest packaging company while Star East PET is the Romanian manufacturer of PET preforms for food, non-food and drink products. By this acquisition, Alpha expand its production capacity in Eastern Europe with increasing product portfolio and customer base.
Key players in the PET Preforms Market
Key players operating the global PET preforms market include Plastipak Holdings, Inc. (the U.S), ALPLA Werke Alwin L. GmbH & Co KG (Austria), Societe Generale des Techniques (France), KOKSAN Pet Packaging Industry Co. (Turkey), Zhuhai Zhongfu Enterprise Co. Ltd (China), Retal Industries Ltd. (Cyprus), Indorama Ventures Public Company Limited (Thailand), Rawasy Al Khaleej Plastic Ind. (UAE), RESILUX NV (Belgium), and Taiwan Hon Chuan Enterprise Co. Ltd (Taiwan).
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