The metallized PET cartons industry is expected to witness steady growth with worldwide revenues up by 2.7% year-over-year in 2021. A new forecast by FMI estimates that metallized PET cartons revenues will nearly double during 2021 and 2031, reaching nearly US$ 276.8 Mn in 2031 at a ten-year compound annual growth rate (CAGR) of 4.7%
Metallized PET is replacing aluminium coating on cartons as it is characterized by higher tensile strength. The metalized PET carton also holds flexible rigidity unlike cartons made of aluminium coating the packaging doesn’t wrinkle because of the composite material that is produced by the vaporization of the metal. This would give the packaging a more presentable look.
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The extremely fine metal coating of the metallized PET cartons changes the electrical conductivity opening up possibilities for it to be used as food packaging. This property of absorbing energy and exhibiting heat makes food item such as frozen foods, curry, noodles and many others ready to be heated in an oven as they contain low water content.
Sustainability has become a necessity and a crucial factor for leading players in packaging industry. Manufacturers are focusing on high quality barrier packaging which is expected to spur the sales of metallized PET cartons.
2016-2020 Metallized PET Cartons Market Outlook Compared to 2021-2031 Forecast
The global market value of metallized PET cartons market is expected to increase at a rate of 4.5% in terms of during 2021-2031 in comparison to the 1.8% CAGR registered during 2016-2020. The high demand from diverse industries such as food & beverage, pharmaceuticals, and personal care & cosmetics is expected to drive the metallized PET cartons market.
Increasing usage in the pharmaceutical and food & beverage segments is expected to continue fuelling demand in the market through the assessment period. The metallized coating on PET cartons is generally used for food packaging due to its high barrier properties, light-weight and relatively cheap raw material.
Metallized PET cartons are less brittle and can handle both blunt and sharp impacts a lot better. The glossy appearance of the packaging gives a competitive edge to packaged products, which is a key factor driving the sales of metallized PET cartons during the forecast period.
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Key Takeaways from Metallized PET Cartons Market
- The demand for polyethylene terephthalate (PET) in the packaging industry has increased exponentially in past few years. This segment is expected to create incremental opportunity of US$ 53.2 Mn over the next decade.
- Metallized PET cartons that are printed is gaining significant traction among end users. This segment is forecasted to increase by 394 bps of current market share and reach up to 63.5% in 2031.
- Increasing pharmaceutical packaging have increased the demand in the packaging industry. This segment is forecasted to expand 1.7 times the current market shares during the forecasted period.
- Across the globe, consumption of Metallized PET Cartons is expected to remain high in the Asia Pacific countries and the European countries, due to the presence of key players of the market and also the availability of technological advancement owing to innovative packaging.
Impact of COVID-19 on Metallized PET Cartons Market
The decline in the manufacturing sector, foodservice demand, disruptions in the supply chain, higher input costs, created an obstacle for the businesses to generate income through profits. Although the reopening of business will increase labour productivity and usage of more products which in turn anticipates a steady growth of metallized PET cartons in the forecasted period.
Metallized PET Cartons Market Landscape
As per Future Market Insights, Faller Packaging, P.R. Packaging, Carton Services, American Carton Company and among others are the prominent players in the global metallized PET cartons market. The tier 3 players in the market hold 70-80% in the global metallized PET cartons market. In conclusion, key players contribute almost 20-30% of the global demand.
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Metallized PET Cartons Market by Category
By Material Type:
- Polyethylene Terephthalate (PET)
- Aluminum
- Paperboard
By Finishing:
- Printed
- Non-printed
By End Use:
- Food & Beverage
- Milk
- Yoghurt & Buttermilk
- Fruit Juice
- Carbonated Soft Drinks
- Alcoholic Beverages
- Others
- Pharmaceutical
- Personal care & Cosmetics
- Other End Use
By Region:
- North America
- Latin America
- Europe
- South Asia
- East Asia
- Oceania
- Middle East and Africa (MEA)
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