- The key vendors in the global PET packaging market 2015-2019 are Amcor, Gepack, Gerresheimer, Graham Packaging, and PET Power.
London, 19 October 2015: Technavio, an independent tech-focused global research firm, has announced the publication of its market research report on the global PET packaging market 2015-2019. The emergence of biodegradable plastic is one of the key trends being witnessed in the market. Consumers prefer to buy products that are eco-friendly and can easily be disposed of. Biodegradable PET can be easily decomposed by microorganisms, thereby reducing the toxic effect it has on the environment as compared to conventional plastic. The global PET packaging market is expected to grow at a CAGR of 5.12% between 2015 and 2019.
Many vendors are establishing manufacturing plants in emerging markets, where production costs are low. PET is being accepted as the most favored material for packaging as it is versatile and provides flexibility. Technological advancements such as hot filling and aseptic cold filling in PET packaging help in increasing the shelf life of products even if they are not kept under optimum conditions.
“Medical polymers such as PET are extensively used in packaging applications due to their superior properties,” says Faisal Ghaus, Vice President of Technavio Research.
“PET packaging companies are focussing on the sustainable use of products. NAPCOR has come up with many programs for PET recycling, which can be done in two ways: feedstock recycling and mechanical recycling.”
To define the market conditions in the next 3-4 years, Technavio analysts have conducted in-depth analysis of the impact of market drivers, challenges and trends featuring data on product segmentations, vendor shares, growth rate by revenue and an evaluation of the different buying criteria in the order of importance.
If you are interested in more information on this topic and our upcoming research on the Global PET Packaging Market 2015-2019, please send an e-mail to media@TechNavio.com
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