PET Perform Machines Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2020 - 2030
Global PET Perform Machines Market – Overview
PET bottles and jars are gaining more traction in food & beverages industry from the past three years. As the PET bottles and jars are BPA (Bisphenol-A) free. Besides this, PET containers has less impact on the environment. Therefore, FDA approved PET containers for packaging of consumable products such as mineral water, cold drinks, and others. PET preform machines provides continent and time saving approach for bottles and packaging container manufacturing.
Global PET Perform Machines Market – Notable Developments
Owing to the expansion of key industries such as beverages, pharmaceuticals, personal care, cosmetics, etc., soaring demand for PET preform machines is expected during the forecast period. Therefore, key players are planning to increase investment in developing new technology-based PET preform machines and increasing their presence in the untapped regions.
Some of the key players operating in the global PET preform machines market are Toshiba Machine Co Ltd, Pet All Manufacturing Inc., KraussMaffei Group GmbH, Magnum Group, Polymechplast Machines Ltd., Pet All Manufacturing Inc., Husky Injection Molding Systems Ltd., S.I.P.A. S.p.A, Nissei Asb Machine Co., Ltd., Iboplast Srl, OIMA Srl, Powerjet Plastic Machinery Co., Ltd., Demark (Shanghai) Packaging Technology Co., Ltd., CYPET Technologies, Huayan Americas, and Jon Wai Machinery Works Co., Ltd., among others.
Global PET Perform Machines Market – Drivers and Restraints
Recyclers lack the equipment to process PET fines into high-quality materials, thus resulting in inferior application of recycled PET. Thus, stringent regulations pertaining to plastic are slowing down the growth of the PET preform machines market. Hence, recyclers are increasing their R&D efforts to establish advanced recycling lines that maintain the special characteristics of PET fines.
As such, beverage producer Vöslauer Mineralwasser in Austria is making circular economy as part of its company philosophy and is increasing efforts to utilize 100% recycled raw materials. Thus, circular innovations are boosting the growth for the market for PET preform machines. Machine builders are transforming their stretch-blow molding development centers into PET manufacturing units to distribute hand sanitizers and disinfectant bottles at hospitals and pharmacies amidst the COVID-19 pandemic. Likewise, they are increasing awareness about special recycling lines that maintain all properties of discarded PET bottles and containers for further use as raw materials.
Global PET Perform Machines Market – Geographical Outlook
Based on the regional segmentation, the global reconditioned IBC market is segmented into five key regions. These regions are Latin America, Asia Pacific, Middle East and Africa, Europe, and North America. North America is expected to account for the largest market share in the global PET perform machines market followed by Asia-Pacific and Europe. Asia-Pacific region comprising countries like India and China are anticipated to witness the highest growth due to increase in industrial trade and globalization especially among its developing economies.
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