The market for PET stretch blow moulding machines is anticipated to reach US$ 760.0 million in 2023 and continue to grow at a CAGR of 2.9% from 2023 to 2033. By the end of 2033, the market is anticipated to attain a valuation of US$ 978.4 million . The top 5 suppliers of PET stretch blow moulding machines are anticipated to control close to 15% of the market by the end of 2022.
PET (polyethylene terephthalate) stretch blow molding machines are used to manufacture bottles and containers made from PET material. The market for these machines is expected to grow in the coming years due to increasing demand for packaging in various industries such as food and beverage, personal care, and pharmaceuticals.
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One of the key drivers for the market growth is the increasing demand for packaged food and beverages. PET bottles are lightweight, durable, and have good barrier properties, making them suitable for packaging liquids such as water, juices, and carbonated drinks. The rising demand for convenience food and beverages is also expected to drive the market for PET stretch blow molding machines.
Another factor driving the market growth is the growing popularity of personal care products, such as shampoo, conditioner, and lotion, which are packaged in PET bottles. The increasing adoption of these products in developing countries is expected to boost the market for PET stretch blow molding machines.
The pharmaceutical industry is also expected to contribute to the market growth. PET bottles are used to package a wide range of pharmaceutical products, including oral liquids, injectable solutions, and other non-sterile products. The growing demand for these products, along with the increasing awareness of healthcare and hygiene, is expected to drive the market for PET stretch blow molding machines.
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In terms of geography, the market for PET stretch blow molding machines is segmented into North America, Europe, Asia Pacific, and Rest of the World. Asia Pacific is expected to be the dominant market, due to the presence of a large number of packaging manufacturers and the growing demand for packaged food and beverages in countries such as China and India.
The market for PET stretch blow molding machines is highly competitive, with a large number of players operating in the market. Some of the major players in the market include SIPA, Krones AG, Husky Injection Molding Systems, Nissei ASB Machine Co., Ltd, and Aoki Technical Laboratory, Inc. These companies are focusing on developing new technologies and innovative products to gain a competitive edge in the market.
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PET Stretch Blow Molding Machines Market Outlook by Category
By Technology Type:
- Single Step
- Two Step
By Orientation Type:
- Linear
- Rotary
By End Use Industry:
- Food
- Beverages
- Pharmaceuticals
- Personal Care & Cosmetics
- Others
By Region:
- North America
- Latin America
- Europe
- Middle East and Africa
- Asia Pacific excluding Japan and China (APEJC)
- Japan
- China
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