The North America PET blow molder market is set for significant expansion, with an anticipated valuation of USD 50.2 million by 2023. The market displays a notable trend, featuring a noteworthy CAGR of 10.86%, which is expected to continue until 2033. The consistent growth forecast indicates that the global North America PET blow molder market is poised to achieve an impressive valuation of USD 140.8 million by the year 2033.
Key Market Trends and Highlights
| Attributes | Key Insights |
|---|---|
| Market Size in 2023 | USD 50.2 million |
| Projected Market Size in 2033 | USD 140.8 million |
| Value-based CAGR from 2023 to 2033 | 10.86% |
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The scope for the North America PET blow molder market insights rose at a 7.68% CAGR between 2018 and 2022. The North America PET blow molder market value is anticipated to develop at a moderate CAGR of 10.86% over the forecast period from 2023 to 2033.
| Report Attributes | Details |
|---|---|
| Market Value in 2018 | USD 30.2 million |
| Market Value in 2022 | USD 40.6 million |
| CAGR from 2018 to 2022 | 7.68% |
The North America PET blow molder market has displayed a significant growth trajectory, and this trend is expected to persist through the forecast period. One of the key drivers of the market growth is expansion of the beverage industry in the region. The demand for non-carbonated beverages has been on the rise, driven by changing consumer preferences for healthy drink options.
PET blow molders play a pivotal role in meeting the packaging needs of the growing beverage sector. The PET blow molder market provides a cost-effective and versatile solution for packaging various non-carbonate drinks, including juices, flavored water, and sports drinks.
The market has witnessed a surge in demand for recyclable, safe, and lightweight bottled water. With the surge in awareness about the environmental impact of plastic bottles, consumers favor PET bottles due to their recyclability and reduced carbon footprint. This sustainability factor serves as a key driver in promoting the use of PET blow molding technology in the production of bottled water containers.
The United States, as a prominent player in the North America PET blow molder market, is likely to experience significant growth. The country's diverse end-use industries and ongoing infrastructural developments have contributed to this momentum.
The increasing demand for PET blow-molded containers across multiple applications, including beverages, food products, personal care items, and more, is fueling the United States market expansion. Investments in advanced PET blow-molding technology to meet the evolving packaging requirements are expected to drive further growth in the market.
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The below table showcases revenues in terms of countries, spearheaded by the United States, and Canada. Out of both countries, the United States is leading the market, with an expected value of USD 100 million in 2023.
Expected Market Values by 2033
| The United States | USD 100 million |
|---|---|
| Canada | USD 84 million |
Value Share in 2022
| The United States | 19.5% |
|---|---|
| Canada | 14% |
The United States holds a prominent position in the global market for machines and equipment where the machine-manufacturing sector in the United States engages over a million Americans, underlining its significance in the country's economy.
Continuous innovations and technological advancements in this sector are driving cost reductions and introducing sustainable changes to product markets. The developments are poised to stimulate demand for PET blow molders in the North American market. This stimulating demand is observed because manufacturers seek efficient and advanced machinery to meet evolving consumer demands and remain competitive on a global scale.
The statistics provided by the government of Canada regarding plastic consumption and waste paint a concerning picture of environmental sustainability in the country. With up to 15 billion plastic bags and 57 million plastic straws being used annually, the issue of single-use plastic waste has become a significant environmental challenge. The non-biodegradable items contribute significantly to the country's waste, posing threats to ecosystems and wildlife.
The potential health risks associated with PET, particularly its tendency to leach antimony trioxide and phthalates in the presence of extreme heat raise concerns for human well-being. A silver lining in the form of ongoing research and new product development in the manufacturing sector can be seen.
Manufacturers are making strides in producing eco-friendly and safe PET materials for human consumption. These efforts align with global sustainability goals and emphasize the importance of responsible plastic use and innovation in mitigating environmental and health risks associated with plastic materials.
While prospects for growth in North America appear lucrative, there are equally attractive growth prospects in other countries. This section provides an overview of PET blow molder market developments across countries such as India, China and Germany.
Expected Market Values by 2033
| India | USD 77.4 million |
|---|---|
| China | USD 70.1 million |
| Germany | USD 65.1 million |
Value Share in 2022
| Germany | 7.24% |
|---|---|
| India | 11.9% |
| China | 9.78% |
The significant growth of the pharmaceutical sector in India is emerging as a key driver for the demand surge in PET stretch blow molding machines within the country. Fueled by a thriving pharmaceutical industry, India is poised to capture a substantial 11.9% share of the market value, according to FMI analysts.
The flourishing pharmaceutical industry of India signifies tremendous growth potential for the PET stretch blow molding machine market. This industry also underscores opportunities for innovation, efficiency, and sustainability within the sector.
manufacturers in India will increasingly seek advanced and eco-friendly packaging solutions, creating fertile ground for PET stretch blow molding machines to thrive as the demand for pharmaceutical products continues to rise.
The industry's global influence and substantial export capabilities open doors for manufacturers in India to enhance their packaging standards and capabilities to meet international standards, further stimulating demand for these machines.
Germany's burgeoning cosmetic industry, coupled with a ban on single-use non-recyclable plastic items, is expected to generate substantial demand for PET products, particularly PET bottles. The surge in demand is set to bolster the sales of PET stretch blow molding machines in the country.
The cosmetics industry in Germany is witnessing significant expansion, and this growth is complemented by an increasing focus on sustainability and environmental responsibility. The demand for PET bottles, a recyclable and eco-friendly packaging solution, is on the rise within the cosmetic sector with sustainability at the forefront.
PET bottles are not only aesthetically pleasing but also align with the global shift toward sustainable packaging. As Germany takes steps to ban single-use non-recyclable plastics, PET bottles are poised to become a preferred choice for cosmetic packaging.
Given Germany's status as one of Europe's cosmetic industry leaders, the demand for PET stretch blow molding machines is expected to witness a significant uptick. Manufacturers in the country are likely to seek advanced and efficient packaging solutions to meet the growing consumer demand for sustainable and aesthetically pleasing cosmetic products.
The rising middle-class population and changing consumer preferences in China are driving the demand for bottled products. With an increasing number of consumers seeking convenient and ready-to-eat options, the need for efficient and reliable packaging solutions has surged.
The growth in China's bottled products market is indicative of a broad trend in the country's consumer landscape. As disposable incomes rise and urbanization continues, consumers are increasingly opting for packaged foods and beverages that offer convenience and freshness.
Manufacturers and retailers in China are adapting to the evolving consumer landscape by diversifying their product offerings and packaging choices. The packaging industry is witnessing innovation and expansion to cater to the growing demand for bottled products across various categories.
The below table highlights how pharmaceuticals are projected to lead the application market expanding at a market share of 57% through 2033. The table further continues with the details about how the automatic machines are likely to spearhead sales based on the PET blow molder market and are anticipated to witness a market share of 43.28% through 2033.
| Category | Market Share by 2033 |
|---|---|
| Pharmaceuticals | 57% |
| Automatic | 43.28% |
The pharmaceutical industry is poised for significant growth in the utilization of PET bottles, where PET bottles are increasingly preferred for pharmaceutical storage due to their unique combination of attributes such as lightweight, robust, and transparent plastic. Such kind of qualities make PET bottles an ideal choice for storing medicines and preserving supplements, ensuring product safety and quality.
The demand for PET bottles in the pharmaceutical sector has expectedly expanded even further with the onset of health concerns like COVID-19, Flurona, and emerging viral infections. The need for reliable and secure packaging solutions in the pharmaceutical field is paramount. PET bottles offer a suitable option to meet these demands, contributing to the growth of this market segment.
The automatic machines segment in the PET blow molder market is poised for significant growth as these machines are expected to play a pivotal role in transforming the market landscape. It further offers substantial advantages in terms of cost savings and production efficiency.
The demand for automatic PET blow molders is projected to surge, with a growth rate of 1.2 times as businesses increasingly recognize the benefits of automation. The growth trajectory underscores the industry's shift toward automation and the adoption of advanced technologies to enhance manufacturing processes in the PET blow molding sector.
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Key manufacturers operating in the PET blow molder market are focusing on producing lightweight and sustainable PET containers. Key manufacturers in the PET blow molder market are using expansion and mergers as the primary tools to expand their market share in the competitive arena.
| Attributes | Details |
|---|---|
| Estimated Market Size in 2023 | USD 50.2 million |
| Projected Market Valuation in 2033 | USD 140.8 million |
| CAGR Share from 2023 to 2033 | 10.86% |
| Forecast Period | 2023 to 2033 |
| Historical Data Available for | 2018 to 2022 |
| Market Analysis | Value in USD million |
| Key Market Segments Covered | Machine Type, Technology Type, End Use, Country |
| Key Countries Profiled |
The United States, Canada |
| Key Companies Profiled | PET ALL Manufacturing Inc.; R&B Plastics Machinery, LLC; Amsler Equipment Inc.; SIPA North America Inc.; Nissei ASB Company; Milacron Holdings Corporation; Sidel; Jomar Corporation; Custom-Pak Inc.; Tech-Long, Inc. |
The market is expected to secure a valuation of USD 50.2 million in 2023.
The North America PET blow molder market is set to expand at a CAGR of 10.86% by 2033.
The North America PET blow molder market is forecasted to reach USD 140.8 million by 2033.
Pharmaceutical is preferred and is expected to rise at a market share of 57% through 2033.
1. Executive Summary 2. Market Overview 3. Market Background 4. Market Analysis 2018 to 2022 and Forecast, 2023 to 2033 5. Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Machine Type 5.1. Extrusion 5.2. Injection 5.3. Stretch 6. Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Technology Type 6.1. Manual 6.2. Automatic 6.3. Semi-Automatic 7. Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By End Use 7.1. Food & Beverage 7.2. Pharmaceuticals 7.3. Personal Care 7.4. Others 8. Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Region 8.1. North America 9. Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 10. Key Countries Market Analysis 11. Market Structure Analysis 12. Competition Analysis 12.1. PET ALL Manufacturing Inc. 12.2. R&B Plastics Machinery, LLC 12.3. Amsler Equipment Inc. 12.4. SIPA North America Inc. 12.5. Nissei ASB Company 12.6. Milacron Holdings Corporation 12.7. Sidel 12.8. Jomar Corporation 12.9. Custom-Pak Inc. 12.10. Tech-Long, Inc. 13. Assumptions & Acronyms Used 14. Research Methodology
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North America PET Blow Molder Market
