PET stretch blow molding machines produce bottles for juices, water, soda, detergents, soda bottles and several other products by stretching pre-forms in both the axel direction and the hoop direction.
The PET stretch blow molding machines market is expected to witness a sluggish growth that is mainly driven by the large consumer base of the beverage industry demanding bottles produced by PET stretch blow molding machines.
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According to a new research report by Future Market Insights titled ‘PET Stretch Blow Molding Machines Market: Global Industry Analysis 2017 – 2027 and Opportunity Assessment 2021 – 2031,’ the global PET stretch blow molding machines market is expected to grow at a CAGR of 2.2% during the forecast period. The global PET stretch blow molding machines market was valued at over US$ 600 Mn in 2017 and is expected to reach a valuation in excess of US$ 715 Mn by the end of 2031.
PET Stretch Blow Molding Machines Market: Trends and Opportunities
Rising demand for stretch blow molded products across various industries has increased the demand immensely for PET stretch blow molding machines. Manufactures are increasing their investments on design and development of energy efficient
PET stretch blow molding machines with a large number of blowing cavities and feed lines. Manufacturers are producing PET stretch blow molding machines compatible with various end user needs such as the ability to manufacture products withstanding high temperature or pasteurization process and self-collapsible containers.
Also, for the longer run production cycle, two step PET stretch blow molding machines are proving to be more economical over single step PET stretch blow molding machines.
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PET Stretch Blow Molding Machines Market: Segmental Highlights
- Based on region, China is expected to dominate the global PET stretch blow molding machines market with a projected market value of more than US$ 200 Mn by the end of 2031, growing at a CAGR of 3.1% during the forecast period. The APEJ regional market is also expected to witness a similar CAGR during the forecast period.
- Based on technology type, single step leads the market with estimated market revenue of over US$ 450 Mn by the end of 2031. However two step technologies is expected to grow at a higher CAGR than single step during the forecast period.
- On the basis of orientation type, rotary leads in terms of revenue, whereas linear dominates the market with a higher CAGR during the forecast period.
- On the basis of end use, the personal care and cosmetics industry dominates the global market with an expected growth at a CAGR of 2.5%. However, the beverages industry is anticipated to hold the maximum market valuation of over US$ 260 Mn by the end of 2031.
PET Stretch Blow Molding Machines Market: Competitive Landscape
This research report presents the competitive landscape of the PET stretch blow molding machines market with a complete profile of all the leading players in the industry. Some of the top companies profiled in the report are Krones AG, Sacmi Imola S.C., Nissei ASB Machine Co., Ltd., SMI S.p.A., Guangzhou Tech-Long Packaging Machinery Co., Ltd., KENPLAS Industry Ltd., W. Amsler Equipment Inc., Zhejiang Huangyan Lingma Plastic Machinery Co., Ltd. Etc.
