PET Packaging market growth and key manufacturers analysis by Chemical Research Expert · June 21 Mark Stone Jersey Youth , 2019
MarketsandMarkets projects the global market for PET Packaging to grow聽from USD 57.64 Billion in 2016 to USD 74.32 Billion by 2021, at a CAGR of 5.21%.
Browse 197 market data tables with 74 figures spread through 250 pages聽and in-depth TOC on聽鈥?em>PET Packaging Market聽by Form聽(Amorphous PET, Crystalline PET), Pack type (Bottles & jars, Bags & pouches, Trays, LidsCaps & closures, others) Marc-Andre Fleury Jersey Youth , Filling Technology (Hot fill, Cold fill, Aseptic fill, others), Packaging Type (Rigid, Flexible), End-use industry 鈥?Forecast to 2021鈥陈?
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Bottles & jars to gain maximum traction during the forecast period
Bottles & jars are highly preferred as they are light weight, safe Alex Tuch Jersey Womens , flexible, and most importantly, 100% recyclable. Adding to this, PET delivers excellent performance in extreme conditions such as high temperature, moisture, and humidity. PET packaging is preferred in the food industry because it maintains the freshness of food items and increases the shelf life. It is also highly used in beverages and CSD (carbonated-soda drink) because of the anti-contaminable property.
Food segment is projected to grow at the fastest rate during the forecast period
The PET packaging market is segmented on the basis of end-use industry into food, beverage, personal care Nate Schmidt Jersey Womens , household products, pharmaceutical, and others which include consumer durables. In 2015, the food segment accounted for the largest share of the end-use industry segment and it is projected to grow at a highest CAGR during the forecast period. To maintain the shelf quality of the food and to deal with external environment conditions, PET packaging is highly preferred because of its resistance to chemical, acid, and oil. Additionally, the hot-sealable property of PET helps to manufacture the seal-tight lids and caps. It also plays a crucial role in transportation and logistics because of the light weight.
Asia-Pacific to play a key role in the market for PET packaging
On the basis of key regions Jonathan Marchessault Jersey Womens , the market for PET packaging is segmented into North America, Europe, Asia-Pacific, and Rest of the World (RoW). The low labor costs, excellent industrialization, a huge scope for FDI, emerging economic conditions, and an excellent hold on industries such as food William Karlsson Jersey Womens , retail, beverage, construction, and pharmaceutical & healthcare have played a key role in the growth of the market for PET packaging in the Asia-Pacific region.
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The global PET packaging ecosystem comprises of PET packaging manufacturers, vendors, and service providers such as聽CCL Industries, Inc. (Canada), E. I. du Pont de Nemours and Company (referred to as DuPont) (U.S.) Max Pacioretty Jersey Womens , Amcor Limited (Australia), Resilux NV (Belgium), Rexam PLC (U.K.), Smurfit Kappa Group PLC (Ireland), Gerresheimer AG (Germany), and Kl枚ckner Pentaplast GmbH & Co. KG (Germany). The other notable players in the market are Graham Packaging (U.S.), GTX Hanex Plastic Sp. z o.o. (Poland), Berry Plastic Group Inc. (U.S.) Oscar Dansk Jersey Womens , Dunmore (U.S.), and Huhtamaki Group (Finland).
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