Global PET Packaging Market: Rigid Packaging Segment Expected to Register a Significant Growth

Published Date: 12/05/2021

The market for PET packaging is estimated to grow from USD 55.5 Billion in 2020 to reach USD 77.3 Billion by 2027, at a CAGR of 4.8 %. The base year considered for the study is 2020 and the market size is projected from 2020 to 2027.
The key objective of the global PET packaging report is to provide companies with a summary of the latest trends and lucrative business expansion opportunities for PET manufacturers, suppliers, and distributors. The report also demonstrates the key business strategies and principles adopted by the key players around the world.

PET, also known as polyethylene Terephthalate, is a packaging type of polyester. It is expelled or shaped into plastic jugs and boxes for packaging of food 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 a fluid, which can be effortlessly expelled into any shape. PET was first incorporated in the U.S. in the mid-1940s by physicists working in DuPont, who were scanning for polymers that could be utilized to make new material filaments. PET is an exceptional bundling material, as it is solid yet lightweight, non-receptive, sparing, and shatterproof. PET's security for sustenance, refreshment, individual care, pharmaceutical, and restorative end-use industries has been perceived by wellbeing experts around the globe.

The research methodology used to forecast the market size was with the help of the top-down approach. The total market size of PET packaging was calculated based on the percentage split of packaging and percentage splits of different technologies used as PET packaging. This allotment and calculation were done on the basis of extensive primary interviews and secondary research. Primary research involved in this report includes extensive interviews with key people such as CEOs, VPs, directors, and executives. After arriving at the overall market size, the total market was split into several segments and sub segments. Data triangulation and market breakdown procedures were employed to complete the overall market engineering process and arrive at the exact statistics for all segments and sub segments.

The global PET packaging ecosystem comprises of PET packaging manufacturers, vendors, and service providers such as CCL Industries, Inc. (Canada), E. I. du Pont de Nemours and Company (referred to as DuPont) (U.S.), Amcor Limited (Australia), Resilux NV (Belgium), Rexam PLC (U.K.), Smurfit Kappa Group PLC (Ireland), Gerresheimer AG (Germany), and Klöckner Pentaplast GmbH & Co. KG (Germany). The other notable players in the market are Graham Packaging (U.S.), GTX Hanex Plastic Sp. z o.o. (Poland), Berry Plastic Group Inc. (U.S.), Dunmore (U.S.), and Huhtamaki Group (Finland)