Polyethylene Terephthalate (PET) Packaging Market Overview
The global PET packaging market poised to expand at CAGR of 5% between 2018 and 2023, finds Market Research Future (MRFR) in its latest study. PET (polyethylene terephthalate) is popular industrial raw material in the packaging industry. It is used for making plastic jugs, boxes, containers, etc. The PET packaging products find application in industries such as F&B, personal care, electronics among others.
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Competitive Analysis
- CCL Industries, Inc. (Canada)
- Resilux NV (Belgium)
- Rexam PLC (U.K.)
- Graham Packaging Company (U.S.)
- GTX Hanex Plastic Sp. Z O.O. (Poland)
- Huhtamäki Oyj (Finland)
- Silgan Holdings (U.S.)
- E. I. Du Pont De Nemours and Company (U.S.)
- PET Power B.V. (The Netherlands)
- Amcor Limited (Australia)
- Berry Plastics Group Inc. (U.S.)
- Dunmore Corporation (U.S.)
- Smurfit Kappa Group PLC (Ireland)
- Klöckner Pentaplast GmbH & Co. Kg (Germany) and Gerresheimer AG (Germany) are among the leading companies operating in the global PET packaging market.
Industry News
Indorama recently expanded its PET reclaimer in Mexico. The company has reportedly added a new recycling line which will help generate food-contact RPET out of bottles picked from landfills.
France-based green chemistry company Carbios has received patent grant from the United States Patent and Trademark Office (USPTO) on its indigenously developed PET recycling process. The process uses a unique enzymatic technology to produce recycled PET from plastic waste.
Segmental Overview
The segmental analysis of the Polyethylene Terephthalate (PET) Packaging Market has been conducted on the basis of pack type, packaging type, end-use industry, form and region.
On the basis of pack type, the market has been segmented into bags & pouches, lids/caps & closures, bottles & jars, trays and others. The bottles & Jars segment accounts for significant market share. During the assessment period, the segment is likely to exhibit a strong growth rate. Bottles & Jars remain sought-after owing their characteristics such as lightweight, safe and pliable. Moreover, most of the bottles & Jars are recyclable.
On the basis of packaging type, the market has been segmented into flexible packaging and rigid packaging. The flexible packaging segment is expected to remain highly attractive during the forecast period. Demand for flexible packaging is relatively higher as compared to rigid packaging. Flexible packaging requires a smaller sum of packaging materials, minimum solid waste. In addition, flexible packaging requires less storage space and minimum shipping cost. The arrival of eco-friendly variants is also supporting the segment’s growth.
On the basis of end-use industry, the market has been segmented into household products, food & beverage, pharmaceuticals, personal care & cosmetics and others. The food & beverage segment is expected to retain it top position throughout the forecast period. The growth of the packaged food industry coupled with increased preference for ready-to-eat products continues to drive the segment’s growth.
On the basis of form, the market has been segmented into crystalline PET and amorphous PET. The amorphous PET is expected to maintain its dominant position throughout the forecast period. Amorphous PET is increasingly used in PET packaging owing to water resistance, durability and robust adhesive strength of the PET material. Over the years, it has gained significant popularity in the F&B industry.
Polyethylene Terephthalate (PET) Packaging Market Regional Analysis
APAC a Highly Attractive Destination for Market Players
The regions covered in the MRFR’s report include Europe, North America, Asia Pacific, Latin America, Africa and the Middle East. The APAC PET packaging market is expected to witness the strongest growth during the forecast period. There are several micro and macroeconomic factors that can be linked with the growth of the packaging sector. The region has become a prime destination for packaging solution vendors. Increased demand for packaged goods, cost-benefit associated with establishing manufacturing facilities, growing foreign direct investment, and rapid growth of end-use sectors are some of the factors supporting the market growth in APAC. In terms of value, Europe and North America also make important contributions to the global PET packaging market.
Table Of Content
1 Executive Summary
2 Scope Of The Report
2.1 Market Definition
2.2 Scope Of The Study
2.2.1 Definition
2.2.2 Research Objective
2.2.3 Assumptions
2.2.4 Limitations
2.3 Research Process
2.3.1 Primary Research
2.3.2 Secondary Research
2.4 Market Size Estimation
2.5 Forecast Model
3 Market Landscape
3.1 Porter’s Five Forces Analysis
3.1.1 Threat Of New Entrants
3.1.2 Bargaining Power Of Buyers
3.1.3 Bargaining Power Of Suppliers
3.1.4 Threat Of Substitutes
3.1.5 Segment Rivalry
3.2 Value Chain/Supply Chain Analysis
Continues…….
List Of Figures
FIGURE 1 RESEARCH PROCESS OF MRFR
FIGURE 2 TOP DOWN & BOTTOM UP APPROACH
FIGURE 3 MARKET DYNAMICS
FIGURE 4 IMPACT ANALYSIS: MARKET DRIVERS
FIGURE 5 IMPACT ANALYSIS: MARKET RESTRAINTS
FIGURE 6 PORTER’S FIVE FORCES ANALYSIS
Continues……
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