The demand within the global PET bottles market is rising on account of advancements in the domain of plastic manufacturing, A thorough analysis by Transparency Market Research (TMR) reveals that the global PET bottles market is growing at a robust pace in recent times. This is an appalling inference considering the global outrage against use of plastic bottles and containers. The traditional use of PET bottles cannot be abruptly replaced with other alternatives, and the process will follow a transitional path. Hence, it is safe to predict that the total revenues within the global PET bottles market would continue to multiply in the coming years.
The use of PET bottles spans across a plethora of industries, and this is a key consideration from the perspective of market growth. The use of these bottles for storing water and other consumable liquids in the residential sector has aided market growth. Furthermore, several industries including food and beverages, pharmaceuticals, medicine, and food processing have also emerged as key end-users of PET bottles. The vendors in the global PET bottles market are expected to focus on manufacturing durable and resilient PET bottles. The possibility of new shapes and designs of PET bottles coming to the market-fore is high.
Transparency Market Research (TMR) predicts that the global PET bottles market would grow at a healthy sluggish CAGR of 4.10% over the period between 2018 and 2027. Furthermore, the total value of the global PET bottles market is expected to touch US$ 11,428.6 mn by the end of the forecast period. On the basis of capacity, the demand for 500 ml PET bottles is growing across the residential sector.
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Use of PET Bottles in the Food and Beverages Sector
The demand within the global PET bottles market is rising at a stellar pace in recent times. Storage of various beverages in PET bottles has played a vital role in the growth of the global market. The availability of various shapes and sizes of PET bottles has played a vital role in the growth of the global market. Moreover, the resilience and durability of PET bottles has also generated huge-scale revenues in the global market. The chemicals industry has also emerged as a key end-user of global PET bottles market. The total volume of revenues in the global PET bottles market is expected to multiply in the years to follow.
Asia Pacific to Lead Market Growth
On the basis of geography, the global PET bottles market can be segmented into North America, Latin America, Europe, the Middle East and Africa, and Asia Pacific. The PET bottles market in North America is growing on account of advancements in field of PET research. The Asia Pacific PET bottles market is projected to accumulate humongous revenues as the plastic manufacturing gathers swing in the region.
Market Vendors to Focus on Improved Research
Several vendors have expressed their intent to invest in better research related to PET bottles. Furthermore, the global outrage against use of plastics has compelled market players to develop new USPs. The next few years would be crucial for PET bottle manufacturers to retain their relevance in the global marketplace. Some of the leading players in the global PET bottles market are Alpha Packaging, Manjushree Technopack Limited Co., Eskapet Pet Ürünleri Kimya San. ve Tic. Ltd., and Mpact Limited.