Global PET Packaging Market Projected to Witness a Measurable Downturn; COVID-19 Outbreak Remains a Threat to Growth in the Near Future

PET, also known as polyethylene terephthalate, is a type of polyester. It is expelled or shaped into plastic jugs and boxes for packaging offood and refreshments, personal care items, and several other consumer products.PET is an ethylene glycol polymer and terephthalic corrosive. Pellets of PET pitch are warmed to form afluid, which can be effortlessly expelled into any shape. PET was first incorporated in the U.S. inthe mid-1940s by physicists working in DuPont,who were scanning for polymers that could be utilized to make new material filaments. PET is an exceptionalbundling material,asit is solid yet lightweight, non-receptive, sparing, and shatterproof. PET’s security for sustenance, refreshment, individual care, pharmaceutical, and restorative applications has beenperceived by wellbeing experts around the globe.

The global market for PET packaging has beensegmented on the basis of form, packaging type, pack type, and end-use industry. Based on form, the market has beensegregated into amorphous PET and crystalline PET. The amorphous PET segment held a major market share in 2016 and the trend is anticipated to continue throughout the forecast period. Thesegment is also anticipated to witness rapid growth during the forecast period.Based on packaging type, the global PET packaging market has beensegregated into rigid packaging and flexible packaging.The rigid packaging segment accounted fora leadingmarket share in 2016 and the trend is projected to continue throughout the forecast period. This segment is also anticipated to witness rapid growth during the forecast period. This is attributableto the rise in demand forPET packaging end-products such as jars andbottles, containers, and trays.Based on pack type, the global market for PET packaging has beendividedinto bottles & jars, bags & pouches, trays, lids/caps & closures, and others.The bottles & jars segment held a leadingmarket share in 2016 and is projectedto retain its dominanceduring the forecast period.Rising demand for cost-effective and sustainable packaging in end-use industries such as food, beverages, pharmaceutical, and personal care is resulting in the rise indemand for bottles andjarsworldwide.The bottles & jarssegment is also expected to witness rapid growth during the forecast period.

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Pretium Packaging launches PET container with integrated handle

Based on filling technology, the global market for PET packaging has beendividedinto hot fill, cold fill, aseptic fill, and others. The cold fill technology segment held a major market share in 2016 and is estimated to continueits dominance throughout the forecast period. This is attributableto thecost-effectiveness of this technology. The hot fill technology segment is projected to witness rapid growth during the forecast period. Based on end-use industry, the global PET packaging market has beensegmentedinto food, beverages, personal care & cosmetics, household products, pharmaceutical, and others.The beveragessegment held a leading market share in 2016 and is expected to continue its dominance throughout the forecast period.The food segment is projected to witness rapid growth during the forecast period, owing to rising demand forpackaged food productsand ready-to-eat food products.

Major factorsdriving the global PET packaging market include rising demand from end-use industries. The food industry is witnessing exponential risein demand forPET packaging.The pharmaceutical industry is also witnessing increased demand, as PET bottles are considered safe for drug packaging. In addition, shifting trend toward eco-friendly materials is positively affecting the global market for PET packaging. However, high fluctuations in raw material prices is a major restraint for the global market for PET packaging. Countries in Asia Pacific and Middle East &Africa are likely to offer growth opportunities to the global PET packaging market.

Major players operating in the global PET packaging market include E. I. Du Pont De Nemours and Company (the U.S.), Amcor Limited (Switzerland), Rexam PLC (the U.K.), Graham Packaging Company (the U.S.), Dunmore Corporation (the U.S.), and Smurfit Kappa Group PLC (Ireland).

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