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% between 2023 and 2033. By the end of 2033, the market is anticipated to achieve a valuation of US$ 978.4 Million. The top five suppliers of PET stretch blow moulding machines are anticipated to hold close to 15% to 20% of the market by the end of 2022.
The PET stretch blow molding machines market has witnessed significant growth in recent years, owing to the increasing demand for lightweight and sustainable packaging solutions. These machines are specifically designed to produce PET bottles and containers through a two-stage process that involves the stretch blow molding technique. The market for PET stretch blow molding machines is expected to experience steady growth in the coming years due to the rising adoption of PET bottles across various end-use industries such as beverages, personal care, pharmaceuticals, and more.
The beauty and cosmetics industry has substantially grown in the last two to three years. Use and application of skincare and haircare products are increasing, and customer base of these products is rising day by day. Sales of beauty and skin care products have multiplied in recent times. Growth of the e-commerce segment has also supported beauty care product sales by delivering directly to the consumer.
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Key Takeaways from PET Stretch Blow Molding Machines:
- The global PET stretch blow molding machines market exhibited at a CAGR of 4% and reached US$ 675.3 Million recorded in 2017.
- Germany PET stretch blow molding machines market is projected to be valued at US$ 48.0 Million by the end of 2023.
- Based on end use industry, the personal care & cosmetics segment is anticipated to create an incremental growth opportunity of US$ 72.4 Million during the evaluation period.
- By technology type, single step PET stretch blow molding machines are projected to secure 62% of the global market share by 2033.
- India PET stretch blow molding machines market is likely to capture a share of nearly 45% by the end of 2025.
Market Trends and Future Prospects
The PET Stretch Blow Molding Machines Market has witnessed significant growth in recent years, primarily driven by the increasing demand for PET bottles in the packaging industry. Some notable market trends and future prospects include:
- Growing Demand for Sustainable Packaging: With the rising environmental concerns, there is a growing demand for sustainable packaging solutions. PET bottles are highly recyclable, making them an attractive choice for environmentally conscious consumers.
- Technological Advancements: The industry is witnessing continuous technological advancements in PET Stretch Blow Molding Machines. Manufacturers are focusing on developing machines with improved energy efficiency, higher production capacities, and enhanced automation features.
- Emerging Markets: Developing regions such as Asia Pacific and Latin America are experiencing rapid industrialization and urbanization. These regions present significant growth opportunities for the PET Stretch Blow Molding Machines Market as the demand for packaged goods continues to rise.
The Major Key Players Are:
- Zhejiang Huangyan Lingma Plastic Machinery Co., Ltd
- Sacmi Imola S.C.
- Nissei ASB Machine Co., Ltd.
- Chumpower Machinery Corp.
- Aoki Technical Laboratory, Inc.
- Krones AG
- KHS GmbH
- Sidel
- PET All Manufacturing Inc.
- Parker Plastic Machinery Co., Ltd.
- Global PET Industries Pvt. Ltd.
- Chia Ming Machinery Co., Ltd
- SMF Maschinenfabrik Germany
- SIPA S.p.A.
- others
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Growing Demand for Medicines among Both Millennials and Elderly to Generate High Sales of PET Stretch Blow Molding Machines
One of the major applications of PET bottles is in the pharmaceutical industry for packaging medicines. Low-cost PET bottles are widely used by pharma companies for packaging various tablets, as well as syrups.
Pharmaceutical companies are adopting PET bottle packaging for different pharma products as it is a cost-effective solution and lightweight in nature. The pharmaceutical sector is growing rapidly at a fast pace. Importance of the pharmaceutical market has increased and huge opportunities are nowadays available in the pharma sector.
Demand for medicines is set to surge and thus the scope of PET stretch blow molding machines is huge in the sector. Pharmaceutical manufacturing companies are creating the biggest market for PET stretch molding machines.
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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