According to the report, the global PET preform market was valued at $23.0 billion in 2022 and is projected to reach $35.4 billion by 2032, growing at a CAGR of 4.5% from 2023 to 2032.

Prime determinants of growth

The global PET preforms market is experiencing growth due to several factors such as increase in preference for recycled PET bottles. Economic considerations play a pivotal role in the growing preference for recycled PET bottles. As the demand for recycled PET increases, it creates opportunities for businesses involved in the recycling and manufacturing of recycled PET products.

However, challenges to recycling of PET bottles hinders the market growth to some extent. Moreover, increase in demand for PET preforms from wide range of end-use industries offers remunerative opportunities for the expansion of the PET preforms market.

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The standard PCO segment dominated the market

Based on type, the standard PCO segment held the highest market share in 2022, accounting for more than one third of the global PET preforms market revenue, and is estimated to maintain its leadership status throughout the forecast period. This is due to standard PCO (plastic closure only) preforms are used to produce PET bottles for carbonated soft drinks, juices, sauces (water products), and industrial chemicals. Their normal neck measures 28 mm.

However, the standard PCO segment is projected to manifest the highest CAGR of 4.97% from 2023 to 2032. Growth of the PET preforms market is driven by rise in popularity of serving carbonated beverages as a side drink in various restaurants and cafes. The demand for carbonated drinks is expanding due to rise in innovations and introduction of new products, including diet, sugar-free, and zero-calorie beverages, leading to the expansion of the PET perform market.

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The carbonated soft drinks segment is expected to grow substantially throughout the forecast period

Based on the application, the water segment held the highest market share in 2022, accounting for one third of the global PET preforms market revenue and is likely to retain its dominance throughout the forecast period. This can be attributed to the fact that PET preforms are widely used to store water as they are more durable, clear, lightweight, non-reactive, cost-effective, and thermally stable than polypropylene (PP), and (polyvinyl chloride) PVC preforms.
However, the carbonated soft drinks segment is projected to manifest the highest CAGR of 4.9% from 2023 to 2032. This growth is attributed to soft drinks feature a unique design that increases their resistance to internal pressure, ensuring that the bottle keeps its functionality and form throughout transportation or refrigeration.
Key Benefits of the Report:

This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the pet preforms market analysis from 2022 to 2032 to identify the prevailing pet preforms market opportunities.
The market research is offered along with information related to key drivers, restraints, and opportunities.
Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
In-depth analysis of the pet preforms market segmentation assists to determine the prevailing market opportunities.
Major countries in each region are mapped according to their revenue contribution to the global market.
Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
The report includes the analysis of the regional as well as global pet preforms market trends, key players, market segments, application areas, and market growth strategies.
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Leading Market Players: -

RETAL INDUSTRIES LTD.
TAIWAN HON CHUAN
RESILUX NV
MANJUSHREE TECHNOPACK LTD.
PLASTIPAK HOLDINGS, INC.
ESTERFORM LTD.
CAIBA
RAWASY
KOKSAN PET PACKAGING INDUSTRY CO.
ESKAPET PET PRODUCT LTD
The report provides a detailed analysis of these key players in the global PET preforms market. These players have adopted different strategies such as new product launches, collaborations, expansion, joint ventures, agreements, and others to increase their market share and maintain dominant position in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.

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