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PET Stretch Blow Molding Machine Market to Grow at a CAGR of 3.5% to reach US$ 1.36 Billion from 2020 to 2027

PET Stretch Blow Molding Machine Market Forecast to 2027 - COVID-19 Impact and Global Analysis

PUNE, ONTARIO, INDIA, April 7, 2022 /EINPresswire.com/ -- PET Stretch Blow Molding Machine Market Forecast to 2027 – COVID-19 Impact and Global Analysis by Technology Type (Single Step and Two Step), Orientation Type (Linear and Rotary), End-User Industry (Food and Beverages, Pharmaceuticals, Personal Care and Cosmetics, and Others) and Geography

The PET stretch blow molding machine market was valued at US$ 1.03 billion in 2019 and is expected to reach US$ 1.36 billion by 2027; it is estimated to grow at a CAGR of 3.5% during 2020–2027.

The “Global PET Stretch Blow Molding Machine Market Analysis to 2027” is a specialized and in-depth study of the electronics and semiconductors industry, focusing on global market trend analysis. The report aims to provide an overview of the PET Stretch Blow Molding Machine 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 offers key trends and opportunities in the market.

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Presently, primarily based on method, there are few variations of the manner utilized by numerous manufacturers to commercially produce specific merchandise. Among those, polyethylene terephthalate (PET) stretch blow molding-based technique usually includes manufacturing of PET bottles having considerably huge business software across numerous industry verticals, which includes drinks, pharmaceutical, chemical compounds, consumer items and cosmetics. The stretch blow molding technique leverages the capability of biaxial stretching to produce long lasting and strong box product with rather green production abilties. Thus, increase in adoption of blow molding device-primarily based products across exclusive enterprise vertical is predicted to offer considerable wide variety of lucrative commercial enterprise opportunities for the players operating within the worldwide PET stretch blow molding system market. However, policies concerning use of PET merchandise may preclude the boom of PET stretch blow molding device market. Change in choice from glass bottles to plastic bottles is creating rewarding business possibilities for the businesses working inside the PET stretch blow molding gadget market.

Strong demand for PET bottles, specifically from the meals & beverage enterprise, is expected to assist the increase of the overall PET stretch blow molding gadget marketplace. Moreover, rising investment towards development of bio-degradable materials predicted to guide the growth of the PET stretch blow molding system marketplace.

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 S.C., Global Pet Industries Private Limited, Guangzhou Tech-Long Packaging Machinery Co., Ltd, and SMF Maschinenfabrik GmbH

Market Insights – PET stretch Blow Molding Machine Market

Rising Preference for Bottled Water

PET stretch blow molding machines are predominantly used within the manufacturing of bottles, and thereby they witness the very best demand from the beverage industry. Consumers are transferring in the direction of healthy intake habits, and consequently, the call for for bottled water has witnessed exponential growth, specifically in the US, that is expected to support the increase of PET stretch blow molding gadget market. Additionally, several areas which includes Mexico and Costa Rica are noticing issues related to the shortage of access to potable water. People are deploying extra water capacities to satisfy their daily water necessities. The noted elements are anticipated to propel the demand for PET bottles, which, in flip, is predicted to boost the PET stretch blow molding device market.

Technology Type Based Insights – PET Stretch Blow Molding Machine Market

The technique used to fabricate PET bottles thru PET stretch blow molding machines is commonly categorized into unmarried step and two step technique. Both of those approaches have exclusive advantages and drawbacks, and bottle manufacturers and logo owners pick the method as per their necessities. The two step phase is anticipated to preserve a significant percentage of the PET stretch blow molding machine marketplace. However, the linear section is predicted to grow at a excessive CAGR in the course of the forecast duration.

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

The COVID-19 epidemic has impacted plastic packaging manufacturers worldwide. A survey was conducted by the IK Industrievereinigung Kunststoffverpackungen, a German Association for Plastics Packaging and Films, on the effects of the COVID-19 crisis. The survey exhibited the impact of COVID-19 on over 120 manufacturers of plastic packaging, mostly medium-sized companies. IK stated that though the manufacturers of system-relevant packaging for food, pharmaceutical, and medical products are, in some instances, attaining the limits of their capacity, suppliers to the automotive industry are particularly challenged with a substantial drop in demand. At present, several countries have already started the complete opening of factories, including China. The spread of pandemic is expected to have a short term impact on the PET stretch blow molding machine market.

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