In 2022, the market for PET materials packaging is estimated to be valued at $1,573.2 million USD. From 2022 to 2032, PET Sales of material packaging are anticipated to increase at a 5.7% compound annual growth rate (CAGR) to reach US$ 2,738.6 million. The market is anticipated to expand due to growing consumer demand for PET packaging that is sustainable and recyclable, as well as food and beverage goods. The demand for packaging made of PET material grew historically at a 4.1% CAGR between 2016 and 2021.
Terephthalic acid (TTA) and monoethylene glycol are the two monomers that make up the polyester or resin known as polyethylene terephthalate (PTE) (MEG). Food packaging and bottled water containers must adhere to stringent safety and reliability standards set by multiple regulatory bodies.
Polyethylene terephthalate (PTE) a plastic resin or polyester which is made up of a combination of two monomers such as terephthalic acid (PTA) and mono-ethylene glycol (MEG). AS per various regulating bodies, bottled water containers and food packaging must be safe and reliable for contact of food and beverages. PTE fulfills these criteria and is used in packaging of soft drinks, bottled water and numerous food items. PET material used in packaging is also bio-degradable in nature.
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The inclination of packaging industry to adopt green plastics has become a key trend that is expected to drive the growth of PET material market. PET has emerged as an alternative for conventional packaging materials, such as aluminum paper, glass and metal as it is light in weight and thus easy for logistics and transportation. PET containers have become a popular choice across the manufacturers as they are recyclable and reusable in nature.
Global PET Material Packaging: Key Players
Some of the prominent players in PET material packaging market are Amcor Limited, CCL Industries, Inc., Gerresheimer AG, Smurfit Kappa Group PLC, Masterchem, PET Power, Berry Plastic Group Inc, Resilux NV, GTX Hanex Plastic Sp. z o.o., Klöckner Pentaplast GmbH & Co. KG.
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.
The report covers exhaustive analysis on:
- Market Segments
- Market Dynamics
- Market Size
- Supply & Demand
- Current Trends/Issues/Challenges
- Competition & Companies involved
- Technology
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Regional analysis includes
- North America (U.S., Canada)
- Latin America (Mexico, Brazil, Argentina)
- Western Europe (Germany, Italy, U.K, Spain, France, Nordic, Rest of Western Europe)
- Eastern Europe (Russia, Poland)
- Asia Pacific (China, India, ASEAN, Australia & New Zealand)
- Japan
- Middle East and Africa (GCC, S. Africa, N. Africa)
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.
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Report Highlights:
- Detailed overview of parent market
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- Competitive landscape
- Strategies of key players and products offered
- Potential and niche segments, geographical regions exhibiting promising growth
- A neutral perspective on market performance
- Must-have information for market players to sustain and enhance their market footprint.
Global PET Material Packaging: Drivers and Restrains
FDA and other regulatory agencies across the world has approved PET as safe material for direct contact with food and beverage for over 30 years. Countries across the world has started to promote biodegradable materials for packaging leading to the growth of PET material packaging market. Various beverage manufacturers are investing into projects which focus on producing cost-effective PET bottles to gain significant benefits by attracting a higher number of consumers.
There is an increase in demand of packaging of carbonated beverages using PET thus fueling the growth of overall PET material packaging market. Currently, various new trends have emerged in the food and beverages industry such as hot-filling or cold-filling PET bottles which can still increase the shelf life of the product even if not kept in good state.
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Global PET Material Packaging: Segmentation
Global PET material packaging market is segmented based on various parameters
Based on the end use, PET material market can be segmented as
- Food and drink
- Personal care
- Pharmaceutical
- Alcoholic beverages
- Others
Based on the products, PET material market can be segmented as
- Bottles
- Jars
- Performs
- Closures
PET materials packaging Market by Region:
- North America
- Latin America
- Europe
- Asia Pacific
- Middle East and Africa
Related Links –
https://www.thetechlog.com/?p=20537&preview=true
https://issuu.com/nk99/docs/drop_sealers_market_size_
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