The North America PET blow molder market is projected to reach USD 50.2 Million by 2023 and is poised to soar to an estimated total valuation of around USD 140.8 Million by 2033. This growth is primarily driven by the burgeoning interest and insights surrounding the North America PET blow molder market. This trend is expected to open doors to new opportunities within the market, with a projected CAGR of 10.86% from 2023 to 2033.
The increasing consumption of soft drinks, non-alcoholic beverages, and alcoholic beverages has driven the demand for bottled products. This surge in demand has subsequently led to an increased need for PET blow molders, propelling market growth during the forecast period.
Many individuals are installing additional water capacities to meet their daily water requirements, resulting in a rising demand for PET bottles as this has contributed to the growing prevalence of PET blow molding across various economies.
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Blow molding is a manufacturing process commonly used for producing glass and plastic bottles, among other food containers. Several key factors are expected to drive the growth of the PET blow molder market in the coming years. These factors include the increasing demand for convenient food packaging, a growing number of bottled consumer products, and advancements in the pharmaceutical and personal care industries.
Significant developments in the packaging industry are anticipated to create numerous opportunities for the polyethylene terephthalate (PET) blow molder market during the forecast period.
Certain challenges potentially hampering market growth are, taxes imposed on plastic products and stringent governmental policies aimed at banning plastic bags may pose obstacles during the specified period.
The PET blow molding process is economical for large manufacturers and large-scale production. It may not be viable for rural industrial areas due to low output expectations and the high maintenance and installation costs associated with these machines.
Key Takeaways from the Market Study
- Based on end-use, pharmaceuticals are expected to dominate at market share of 57% by 2033.
- Based on technology type, automatic machines are likely to register a market share of 43.28% by 2033.
- The North America PET blow molder market expanded at 7.68% CAGR between 2018 and 2022.
- The United States is expected to hold a dominant share, accumulating a value of US$ 100 million in 2023.
- Canada is predicted to experience significant growth, with a current valuation of US$ 84 million and a projected value share of 14%.
“An increase in demand for non-carbonated drinks is considered as one of the key drivers of the North America PET blow molder market”, Says Ismail Sutaria, Principal Consultant at Future Market Insights
Prominent Drivers of the North America PET Blow Molder Market
- Increasing Demand for Sustainable Packaging Solutions: The growing emphasis on eco-friendly packaging, driven by environmental concerns and regulatory pressures, is a major factor boosting the demand for PET blow molding. PET is recyclable, making it a popular choice for manufacturers seeking sustainable packaging solutions.
- Rising Consumption of Bottled Beverages: The expanding bottled beverage market, including water, soft drinks, and juices, continues to fuel the demand for PET blow molding equipment. PET’s lightweight, durability, and ability to preserve product integrity make it an ideal material for beverage packaging.
- Advances in Blow Molding Technology: Technological innovations in PET blow molding processes, such as improvements in machine automation and energy efficiency, are making PET blow molding more cost-effective and versatile, which is driving market growth.
- Growing E-Commerce and Packaging Requirements: The rise in online shopping, especially in the food and beverage and consumer goods sectors, is increasing the demand for durable, tamper-proof, and lightweight packaging. PET blow molded products meet these needs, contributing to market growth.
- Expanding Application Areas: Beyond beverages, PET blow molding is increasingly being used in packaging for food, cosmetics, and household products. The versatility of PET allows it to be molded into various shapes and sizes, catering to a wide range of consumer products, thereby driving further market expansion.
Competitive Landscape
The PET blow molder market’s key manufacturers are working for manufacturing lightweight and sustainable PET containers. Key players in the PET blow moulder market are adopting expansion and mergers as major methods to increase their market share in a competitive environment.
- Milacron, a global leader in plastics technology and processing, will unveil the world’s largest injection molding machine in September 2023. 20/20 Custom Molded Plastics, LLC of Holiday City, Ohio, is a long-time customer of a North American OEM that manufactures it.
- Milacron used its history with Ferromatik to present its eQ-Series 110 and eQ-Series 180 electric injection molding machines, as well as its MonoSandWich Technology, during the K 2022 trade show in Düsseldorf, Germany, in October 2022.
Key Players
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.
North America PET Blow Molder Market by Category
By Machine Type:
- Extrusion
- Injection
- Stretch
By Technology Type:
- Manual
- Automatic
- Semi-Automatic
By End Use:
- Food & Beverage
- Pharmaceuticals
- Personal Care
- Others
By Country:
- The United States
- Canada
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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