Despite many technological advancements, flexible packaging is not as efficient as rigid packaging in the handling of liquid products. PET being the nonhazardous, U.S. and European food & drug administration approved material, is used extensively for liquid packaging. PET preforms machines are used for manufacturing of PET bottles for beverages, bottled water, consumer goods, chemicals, pharmaceuticals and personal care & cosmetics end-use industries.
Production of PET bottle has risen from 300 Bn unit to 480 Bn during the last decade and is expected to expand further at CAGR of 4% during next decade and with the increasing demand for PET bottles, sales of PET preform machines is also expected to grow during the forecast period.
PET Preform Machine Market: Market Dynamics
Use of PET preforms machine adds an advantage for product manufacturers as it allows to offset the fluctuation in market demand for beverages and bottled water. Moreover, increasing sales of packaged goods and consumer preference for products packed in small quantity has increased the use of PET for packaging and positively influencing PET preform machine market. High speed and application in various end-use industries of PET preform machines are some other factors supporting the growth in PET preform machine market. However, high cost associated with PET preform machines may hamper the growth in PET preform machine market. Diminishing gap between the cost of single step PET blow molding machines and PET preform machine may further limit the use of PET preform machine.
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PET Preform Machine Market: Company Developments and Industry Level Trends
Husky Injection Molding Systems Ltd. has innovated new multilayer preform technology for improving the barrier properties of its PET products.
S.I.P.A. S.p.A has developed world’s first PET preform machines for producing PET inline preforms
PET preform machinery manufacturers are focusing on developing systems suitable for producing light weight PET preforms, without altering the performance of the bottle, as the packaging industry is reducing its carbon footprint.
There have been technological advancements in PET preform machine market. With the development of electric press machine technology, manufacturers are now capable of reducing operation costs by cutting energy consumption.
PET Preform Machine Market: Market Segmentation
PET preform machine market is segmented by technology type, by orientation type, application type and end use industry.
Based on the technology type, PET preform machine market is segmented into:
Based on the orientation type, PET preform machine market is segmented into:
Based on the application type, PET preform machine market is segmented into:
- Returnable Bottles
- Non-Returnable Bottles
- Multilayer Bottles
Based on the end use industry, PET preform machine market is segmented into:
- Bottled water
- Consumer Goods
- Personal care & Cosmetics
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PET Preform Machine Market – Regional Outlook:
Regionally global PET preform machine market is segmented into
- North America
- Latin America
- Eastern Europe
- Western Europe
- Asia-Pacific excluding Japan (APEJ)
- Middle East & Africa (MEA)
APAC region is expected to lead PET preforms machine market as the region has highest sales for PET bottles. China has the highest consumption of PET bottles; the country has consumption of about 73.8 Bn water bottles for 2016. North America is expected to follow the APAC region in PET Preform machine market as the region accounts for the highest imports in bottle blowing machine market. MEA region is expected to contribute a small but rapidly growing market share in PET preform market as the sales of bottled water is expanding at a CAGR of 10% in Saudi Arabia and other bordering countries in the region. The consumption of bottled water is estimated to reach to 21 billion liters by the year 2023 in GCC region. Due to the high concentration of German and Italian PET preform machine manufacturers, Europe PET preform machine market is expected to grow moderately during the forecast period.