PET stretch blow molding machine market is expected to grow at a CAGR of 3.5% to reach US$1.36 billion from 2020 to 2027

PET Stretch Blow Molding Machines Market Forecast to 2027 – Impact of COVID-19 and Global Analysis

PUNE, ONTARIO, INDIA, April 7, 2022 /EINPresswire.com/ – PET Stretch Blow Molding Machines Market Forecast to 2027 – Impact of COVID-19 and Global Analysis by Technology Type (One-Stage and Two-Stage) , orientation type (linear and rotary), end-user industry (food and beverage, pharmaceutical, personal care and cosmetics, and others), and geography

PET Stretch Blow Molding Machines Market was valued at US$1.03 Billion in 2019 and is projected to reach US$1.36 Billion by 2027; it is estimated to grow at a CAGR of 3.5% between 2020 and 2027.

The “Global PET Stretch Blow Molding Machine Market Analysis to 2027” is a specialized and in-depth study of the electronics and semiconductor industry, focusing on the analysis of global market trends. The report aims to provide an overview of PET Stretch Blow Molding Machines market with detailed market segmentation by type, application and geography. The report provides key statistics on the market status of the leading PET stretch blow molding machine market players and outlines key market trends and opportunities.

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Currently, primarily based on method, there are few variations of the way many manufacturers use to commercially produce specific wares. Among these, the technique based on stretch blow molding of polyethylene terephthalate (PET) generally includes the manufacture of PET bottles with considerably huge commercial software in many industry verticals, including beverages, pharmaceuticals, chemical compounds, consumer articles and cosmetics. The stretch blow molding technique harnesses the ability of biaxial stretching to produce a strong and durable can product with rather green production capabilities. Thus, the increase in the adoption of products based primarily on blow molding devices in the proprietary verticals is expected to provide a wide variety of lucrative business opportunities for players operating in the global stretch blow molding systems market PET. However, policies regarding the use of PET goods may impede the growth of the market for PET stretch blow molding devices. The shift in choice from glass bottles to plastic bottles is creating rewarding business opportunities for companies working in the PET stretch blow molding gadgets market.

The high demand for PET bottles, especially from food and beverage companies, is expected to contribute to the increase in the overall market for PET stretch blow molding gadgets. Additionally, increasing investment in the development of biodegradable materials is expected to guide the growth of the PET stretch blow molding systems market.

PET Stretch Blow Molding Machine Market: Competitive Landscape and Key Developments

Krones AG, Aoki Technical Laboratory, Inc., NISSEI ASB MACHINE CO., LTD, CHUMPOWER MACHINERY CORPORATION, PARKER PLASTIC MACHINERY CO., LTD, Pet All Manufacturing Inc., SACMI IMOLA SC, Global Pet Industries Private Limited, Guangzhou Tech-Long Packaging Machinery Co., Ltd and SMF Maschinenfabrik GmbH

Market Overview – PET Stretch Blow Molding Machine Market

Growing preference for bottled water

PET stretch blow molding machines are mainly used in the manufacturing of bottles and hence they witness the best demand from the beverage industry. Consumers are shifting towards healthy consumption habits and as a result, the demand for bottled water has grown exponentially, especially in the United States, which is expected to support the rise in the stretch blow molding gadgets market PET. In addition, several regions, including Mexico and Costa Rica, are noticing problems related to the lack of access to drinking water. People deploy additional water capacity to meet their daily water needs. The rated items are expected to propel the demand for PET bottles, which in turn is expected to drive the PET stretch blow molding devices market.

Information Based on Technology Type – PET Stretch Blow Molding Machine Market

The technique used to manufacture PET bottles using PET stretch blow molding machines is generally categorized into unmarried-step and two-step technique. Both of these approaches have unique pros and cons, and bottle makers and logo owners choose the method based on their needs. The two-stage phase is expected to preserve a significant percentage of the PET stretch blow molding machine market. However, the linear section is expected to grow at an excessive CAGR over the forecast duration.

Impact of the COVID-19 Pandemic on the PET Stretch Blow Molding Machines Market

The COVID-19 outbreak has affected plastic packaging manufacturers around the world. A survey has been carried out by IK Industrievereinigung Kunststoffverpackungen, a German association for plastic packaging and films, on the effects of the COVID-19 crisis. The survey showed the impact of COVID-19 on more than 120 plastic packaging manufacturers, mostly medium-sized companies. IK said that although manufacturers of system-adapted packaging for food, pharmaceutical and medical products are in some cases reaching the limits of their capacity, suppliers to the automotive industry in particular are facing a substantial drop in the request. At present, several countries have already started the full opening of factories, including China. The spread of the pandemic is expected to have a short-term impact on the PET stretch blow molding machine market.

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