- 23 April 2019 21:43
Global PET Preforms Market By Neck Size, 28mm segment is expected to contribute major revenue share in the global PET preforms market, and witness highest CAGR of over 5%
PET preforms are preforms made of PET (polyethylene terephthalate), which is one of the most common thermoplastic polymer resin in the polyester family. PET preforms are molded products of certain shape, form, and size, which are then further blown to make bottles in blowing machines. A key characteristic of PET preform is that the products (or bottles) made from it are durable, sturdy, transparent, smooth and sparkly, which can attract a buyer’s attention. PET bottles are gaining preference owing to its lightweight, good resistance, durable, non-breakable, cost-effective, and reusable nature.
Global PET preforms Dynamics:
Rapid development of the fast moving consumer goods (FMCG) industry is one of the key driver expected to boost growth of the global PET Preforms Market. Rinsing consumption of FMCG such as carbonated drinks, juices, cosmetics, and food items, has led to increasing usage of PET preforms for production of PET bottles, jars, tubes, and others. In addition, availability of PET bottles in all sizes, and other properties such as convenience to carry, hygienic, ease of handling, durable, and lightweight, is increasing adoption of PET bottles globally, thus driving consumption of PET preforms globally.
Market Analysis by Neck Size:
On the basis of neck size, the 28mm segment is expected to contribute major revenue share in the global PET preforms market and witness highest CAGR of over 5%, in terms of revenue over the forecast period. This can be attributed to increasing usage of 28mm neck size for making bottles for carbonated drinks, mineral water, juices, and edible oil. 28mm segment accounts for the highest share among the other segments, owing to its wide application across soft drinks, food items, cosmetics, and others
Among the neck size segment, market share of 25mm, and others segment in the global PET preforms market is projected to increase steadily during the forecast period (2016–2026). This can be attributed to the increasing consumption of liquor, cosmetics, and other food items.