The key factor influencing the development of the PET industry is a shift in consumer behaviour in favour of sustainability. Additionally, a ban on landfills introduced in several developed nations in North America & Europe is anticipated to drive product demand over the course of the projection period. The extensive application scope of PET in numerous key application industries, including FMCG, consumer goods, clothing and textile, and automotive, is the primary factor driving PET demand in North America. There is now more demand for PET in the area due to numerous government programmes about plastic recycling.
Despite significant investments, non-recycled PET bottles are primarily transported to Southeast Asian countries for recycling before being imported back into the specific country in North America in the form of new bottles made from recycled PET. The MMR study report claims that as the demand for single-use PPE has increased, the corona pandemic outbreak has made plastic waste management and recycling more complex.
The clear product sector led the overall market in the year 2021 & accounted for a revenue share of over 76 percent. The sector will retain the top place growing at a stable CAGR during the forecast period. Low energy supplies & ease of bottle-to-bottle recycling are anticipated to push the demand for clear PET from 2022 to 2029. In adding, clear PET is extremely durable, lightweight, & shatterproof. It is extensively used in food & non-food applications owing to the low cost of processing related with it.
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The PET Bottles Market research report provides the latest industry data, growth, key segments and future trends on the basis of the detailed study.
This market report also allows you to identify the future opportunity and growth rate of the leading segment based on regions and countries.This research report also includes profiles of major companies operating in the global market.
Some of the prominent players operating in the global PET bottles market are Alpack Plastics, Alpha Packaging, Amcor Limited, BERICAP GmbH & Co. KG, Berry Global, Inc., Constar Internationals, Inc., Container Corporation of Canada, Cospack America Corporation, Graham Packaging Company Inc., Ontario Plastic Container Producers Ltd., Plastipak Holdings, Inc., Resilux NV, And Rexam, Inc.
This section cover profiling of major players in terms of important aspects such as company overview, financial overview, business strategy, and recent developments undertaken during the forecast horizon.Get more information on "Global PET Bottles Market Research Report" by requesting FREE Sample Copy at https://www.valuemarketresearch.com/contact/pet-bottles-market/download-sampleMarket DynamicsThe increasing consumer preference for PET bottles over other bottles owing to their high durability, lightweight and non-reactivity with substances is stimulating the market growth.
Also, the rising adoption of these type of bottles owing to the low cost of production is further boosting the market value.
On the contrary, environmental concerns regarding the use of PET as plastic limits market growth.The report has been created by using crucial tools such as Porter’s Five Forces Model, Market Attractiveness Analysis and Value Chain analysis to help businesses around the globe navigate opportunities and challenges in the rapidly evolving marketplace with clarity.
