PET preforms, more popularly mini-bottles, will witness steady growth in their sales following soaring demand for bottled water worldwide. According to the report, the market for PET preforms will exhibit a moderate CAGR of 4.6% over the next decade and attain the revenues beyond US$ 25 Bn by the end of 2028.
Fall of Glass Bottles Uplifts PET Preforms
The market for bottled water and beverages is currently at its peak in terms of expansion and is not expected to slow down anytime soon. Strongly growing bottled water market will continue to fuel the sales of PET preforms in near future. Moreover, the demand for glass bottles is decreasing worldwide owing to higher cost and inconvenience, which is anticipated to benefit the mini-bottles market in coming years. A growing number of beverage brands are preferring PET preforms while packaging their products so as to achieve safe and convenient transport over long distances. This will remain a major factor boosting the performance of market over the next few years.
‘Recycling’ Trends in PET Preforms Market
Growing environmental concerns regarding plastic usage are presumed to hamper the use of plastic bottles and in turn, limit the growth of PET preforms industry. However, leading companies are increasingly seeking an efficient alternative to plastics used in manufacturing of PET preforms. Emergence of recycled bottles is likely to bring in innovation to the market, which will possibly support its growth at a rapid pace. According to latest research, the past few years have been observing a significant rise in PET bottles recycling, and some of the recycling companies are already operating bottle-to-bottle recycling plants. Recycling plants collect bottles in bulk from municipal curbsides and then convert them to fine recycled PET resins that are ultimately molded into bottles. These factors are collectively foreseen to help the PET preforms market to hold a strong foot globally.
Dominant Market Players to Stay Inclined towards In-house Production
The global PET preforms market is witnessed to be highly concentrated among the three key players, i.e. RETAL Industries, Plastipak Holdings, and ALPLA Werke Alwin Lehner GmbH & Co KG. These companies hold the highest revenue share in global PET preforms market and have currently adopted ‘in-house production’ as their key strategy. ALPLA has strong presence in North America, Latin America, Europe, Asia-Pacific, and MEA. The company specializes in industry-specific multilayer preforms for water, soft-drinks, milk, and oil, and almost half of the company’s manufacturing sites are in-house facilities located at the clients’ manufacturing facilities. This strategy has been delivering excellent profit to ALPLA over the years, as it helps the company through reduced transportation costs and other expenses.
The report includes the key company strategies and details of market presence of the leading players. Some of the companies mentioned in the report are Resilux NV, Esterform Packaging Limited, Societe Generale Des Techniques (SGT), Koksan AS, Taiwan Hon Chuan Enterprises Co., Ltd., PDG Plastiques S.A.S, Zhongfu Enterprise Co Ltd., RAWASY AL KHALEEJ PLASTIC IND, Amraz Group, and Gatronova Industries etc.
These insights are based on a report PET Preforms Market by Future Market Insights