As per a recently published report by Future Market Insights (FMI), sales of PET stretch blow molding machines market are anticipated to reach US$ 760.0 Million in 2023 and exhibit a considerable CAGR of 2.9% from 2023 to 2033. The market is likely to be valued at US$ 978.4 Million by the end of 2033.
European nations like Germany, Italy, France, and others have witnessed increasing levels of automation, which has made it possible for manufacturers to create PET bottles more quickly and effectively. Several manufacturers are concentrating on sterilizing and expressing interest in automation.
Increasing demand for plastic bottles supporting the sharp rise in stretch blow molding machines sales is attributed to the expansion of the FMCG, retail, and pharmaceutical industries. The beverage industry in particular has seen rising consumer expectations and high demand for lightning-fast order fulfillment and delivery.
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Key Takeaways from PET Stretch Blow Molding Machines:
- The global PET stretch blow molding machines market exhibited at a CAGR of 4% and reached US$ 675.3 Mn recorded in 2017.
- Germany PET stretch blow molding machines market is projected to be valued at US$ 48.0 Mn by the end of 2023.
- Based on end use industry, the personal care & cosmetics segment is anticipated to create an incremental growth opportunity of US$ 72.4 Mn during the evaluation period.
- By technology type, single step PET stretch blow molding machines are projected to secure 62% of the global market share by 2033.
- India PET stretch blow molding machines market is likely to capture a share of nearly 45% by the end of 2025.
“Increased manufacturing output, automation in the industrial sector, and elevated demand for PET bottle packaging are major factors positively affecting the PET stretch blow molding machines market,” says an FMI analyst.
Growing Demand for Medicines among Both Millennials and Elderly to Generate High Sales of PET Stretch Blow Molding Machines
One of the major applications of PET bottles is in the pharmaceutical industry for packaging medicines. Low-cost PET bottles are widely used by pharma companies for packaging various tablets, as well as syrups.
Pharmaceutical companies are adopting PET bottle packaging for different pharma products as it is a cost-effective solution and lightweight in nature. The pharmaceutical sector is growing rapidly at a fast pace. Importance of the pharmaceutical market has increased and huge opportunities are nowadays available in the pharma sector.
Demand for medicines is set to surge and thus the scope of PET stretch blow molding machines is huge in the sector. Pharmaceutical manufacturing companies are creating the biggest market for PET stretch molding machines.
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The pandemic has shifted the concentration of people on their health, which has created more demand for medicines. Also, growing health issues among millennials have generated a hefty demand for PET stretch blow molding machines.
Regular health concerns of elderly people have been booming the demand for medical facilities. Thus, increasing demand for medicines is projected to surge the demand for PET stretch blow molding machines.
Competition Landscape: PET Stretch Blow Molding Machines Market
Krones AG, KHS GmbH, Sidel, Sacmi Imola S.C., Nissei ASB Machine Co., Ltd., KHS GmbH, and SIPA S.p.A. are some of the key players operating in the global PET stretch blow molding machines market. Also, a few other noticeable players in the market include PET All Manufacturing Inc., SMF Maschinenfabrik Germany, Zhejiang Huangyan Lingma Plastic Machinery Co., Ltd, Chumpower Machinery Corp., and Aoki Technical Laboratory, Inc. among others.
Get Exclusive Insights into the PET Stretch Blow Molding Machines Market Report
Future Market Insights, in its new report, offers an unbiased and thorough analysis of the global PET stretch blow moulding machines market, analysing historical demand from 2017-2022 and forecast statistics for 2023-2033. The study reveals market growth projections for the PET stretch blow moulding machines market based on the technology type (single step and two step), orientation type (linear and rotary), and end use industry (food, beverages, pharmaceutical, personal care & cosmetic, and others) across seven regions.
About the Packaging Division at Future Market Insights
The packaging division at Future Market Insights provides an in-depth historical analysis and projections for the next ten years and covers the competitive landscape through a unique dashboard view. Ranging from packaging materials, and packaging machinery to packaging designs & formats, Future Market Insights has an exhaustive database for these industry verticals, serving clients with unique research offerings and strategic recommendations. With a repository of 1,000+ reports, the team has analysed the packaging industry comprehensively in 50+ countries. The team evaluates every node of the value chain and provides end-to-end research and consulting services; reach out to explore how we can help.
PET Stretch Blow Molding Machines Market Outlook by Category
By Technology Type:
- Single Step
- Two Step
By Orientation Type:
- Linear
- Rotary
By End Use Industry:
- Food
- Beverages
- Pharmaceuticals
- Personal Care & Cosmetics
- Others
By Region:
- North America
- Latin America
- Europe
- Middle East and Africa
- Asia Pacific excluding Japan and China (APEJC)
- Japan
- China
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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