Anticipated to reach a valuation of US$ 760.0 million in 2023, the global PET stretch blow molding machines market is poised for sustained growth, projecting a CAGR of 2.9% from 2023 to 2033. The market is expected to achieve a substantial valuation of US$ 978.4 million by the conclusion of 2033. This growth trajectory underscores the increasing demand for PET stretch blow molding machines, driven by factors such as rising applications in the packaging industry and the continuous evolution of manufacturing processes. The market’s steady expansion signifies its pivotal role in meeting the evolving needs of various industries.
PET stretch blow molding machines are widely used by manufacturers, and easily available in the market in various types and models. Single-step and two-step PET stretch blow molding machines are available in the market for purchase.
The burgeoning pharmaceutical sector in India serves as a significant catalyst driving the demand for PET stretch blow molding machines in the country. Projections by FMI indicate that India is poised to capture approximately 45% of the market value share by 2025. With approximately 10,500 manufacturing units and nearly 3,000 drug companies operating domestically, the Indian pharmaceutical landscape is expected to contribute substantially to the increased sales of PET stretch molding machines over the next decade. The expansion of the pharmaceutical industry further emphasizes the pivotal role of these machines in meeting the evolving manufacturing needs within the Indian market.
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As a result, the market for PET stretch blow molding machines in Germany is estimated to reach US$ 48.0 million by the end of 2023. Additionally, it is projected to generate an incremental opportunity of US$ 11.9 million from 2023 to 2033, according to FMI. This burgeoning cosmetic industry and the nation’s environmental consciousness position Germany as a fertile ground for PET stretch blow molding machine manufacturers to expand their business and tap into new growth prospects.
Involvement of social media these days is also helping the skincare and haircare market to grow by directly relating to consumers. Social media has successfully increased awareness about various skincare and haircare products, which is set to spur the application of these products.
Also, there are many new brands entering the market of beauty and personal care and they are flourishing. The most favored packaging for skincare and haircare products is plastic bottles as they can be molded into any required shape.
Apart from that, these are the most economical and eco-friendly packaging solutions that can be customized as per the requirements. Thus, increased application and sales of skincare and haircare products are boosting sales of the PET stretch blow molding machines across the globe.
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.
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“Increased manufacturing output, automation in the industrial sector, and elevated demand for PET bottle packaging are major factors positively affecting the PET stretch blow molding machines market,” says an FMI analyst.
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.
The pandemic has shifted the concentration of people on their health, which has created more demand for medicines. Also, growing health issues among millennials have generated a hefty demand for PET stretch blow molding machines.
Regular health concerns of elderly people have been booming the demand for medical facilities. Thus, increasing demand for medicines is projected to surge the demand for PET stretch blow molding machines.
Competition Landscape: PET Stretch Blow Molding Machines Market
- Krones AG, KHS GmbH,
- Sidel,
- Sacmi Imola S.C.,
- Nissei ASB Machine Co., Ltd.,
- KHS GmbH
- SIPA S.p.A.
are some of the key players operating in the global PET stretch blow molding machines market. Also, a few other noticeable players in the market include
- PET All Manufacturing Inc.,
- SMF Maschinenfabrik Germany,
- Zhejiang Huangyan Lingma Plastic Machinery Co., Ltd,
- Chumpower Machinery Corp., and
- Aoki Technical Laboratory, Inc.
- among others.
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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
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer, Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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