Sales of Metallized PET Cartons to Double, Surpassing US$ 276 Mn by 2031: Future Market Insights Survey
The metallized PET cartons market study by Future Market insights (FMI) offers compelling insights into key growth drivers and restraints impacting the market's trajectory through 2031. The study also highlights various opportunities existing in key segments including material type, finishing, end use and region
DUBAI, UAE, Sept. 23, 2021 /PRNewswire/ -- ESOMAR-certified market research firm Future Market Insights (FMI) in its latest analysis forecasts the global metallized PET cartons market to expand at 4.7% CAGR between 2021 and 2031, reaching a valuation of US$ 276.8 Mn by 2031 end.
With rising demand for metallized PET cartons across various industries such as food and beverage, electronics and pharmaceuticals, the sales are anticipated to reach 146,042 tons in 2031.
Increasing population, changing lifestyle, rising disposable income, and growing demand for food and pharmaceuticals are some of the factors positively impacting the market growth.
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Rising focus on sustainable packaging solutions will drive sales of flexible packaging. With industries exhibiting higher inclination towards packaging solutions that offer greater convenience, the sales of metallized PET cartons are set to accelerate in the coming years.
Excellent features of metallized PET cartons like lightweight, impermeability, low cost, high gloss, toughness, recyclability, easy to print, and the ability to retain print for longer period makes them ideal choice for flexible packaging applications. These cartons not only help in preserving products but also provide aesthetic features that attracts a huge number of customers.
Polyethylene terephthalate (PET) segment will dominate the market with a share of around 56.7% in 2021. Owing to growing demand for PET in packaging industry, the segment is expected to create incremental opportunity of US$ 53.2 Mn between 2021 and 2031.
North America will lead the metallized PET cartons market. The region is expected to register a strong CAGR between 2021 and 2031 as a result of increasing demand for metallized PET cartons across various sectors such as electronics, pharmaceuticals and food and beverages.
"Rapid shift towards flexible and ecofriendly packaging solutions will create opportunities for investment in the market. Some of the leading market players are expected to capitalize on existing scope to expand their portfolio, especially emerging economies," says the FMI analyst.
Key Takeaways from Metallized PET Cartons Market Survey
- The U.S will dominate the metallized PET cartons market with around 66.2% market share in North America in 2021.
- China will hold around 48.8% market share in East Asia. The market in the country is set to register year-on-year (YoY) growth of 8.1% in 2021.
- India will emerge as one of the lucrative markets for the manufacturers of metallized PET cartons. The market is expected to register incremental opportunity of US$ 11.2 Mn during the forecast period.
- By material type, polyethylene terephthalate (PET) will lead the market with a share of around 56.7% in 2021.
- Based on finishing, printed segment will dominate the market with a share of around 59.6% in 2021.
Key Drivers
- Growing demand for metallized PET cartons in pharmaceutical and food and beverages industries is driving the market.
- Increasing inclination towards flexible packaging positively impacts the demand for metallized PET cartons.
- Rising environmental concerns along with development of low cost and recyclable products are likely to create a plethora of opportunities for the metallized PET cartons market.
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Competitive Landscape
Key companies operating in metallized PET Cartons market are focusing on expanding their product portfolio as well as their distribution networks. They are adopting various strategies such as mergers and acquisitions, development of new products, partnerships and collaborations to gain a competitive edge in the market.
- In September 2021, SIG announced the investment of 12 million euros in a pilot plant of its new Tech Centre Europe, which will be located close to SIG's packaging plants in Linnich, Germany. The new Tech Centre will help the company to expedite new product and packaging development, to meet the ever-increasing demand for more sustainable packaging solutions.
- In July 2020, Nobelus launched Gilt metalized, a PET thermal printable laminate gold metallic film for packaging solutions.
- In 2020, Printex Transparent Packaging developed a PET carton that is wholly made from recycled plastic.
Some of the prominent players operating in the metallized PET cartons market profiled by FMI are:
- Sierra Coating Technologies LLC
- Pragati Graphics Pvt. Ltd.
- Rich Offset Pvt Ltd.
- Temple Packaging Pvt Ltd.
- P.R Packagings Ltd.
- Globe Print n Pack
- Noble Printing Press
- Grand Prints Pvt Ltd
- Parth Offset
- Rajhans Enterprises
- Miracle Group India Pvt. Ltd.
- Pratiroop Mudran
- Printex Transparent Packaging
- AR Packaging
- Carton Services
- American Carton Company
- Faller Packaging
- General Converting Inc.
More Insights on the Global Metallized PET Cartons Sales Outlook
FMI provides an unbiased analysis of metallized PET cartons market, presenting historical demand data (2016-2020) and forecast statistics for the period from 2021-2031. The study divulges compelling insights on the global demand for metallized PET cartons with a detailed segmentation on the basis of:
Material Type:
- Polyethylene Terephthalate (PET)
- Aluminum
- Paperboard
Finishing:
- Printed
- Non-printed
End Use:
- Food & Beverage
- Milk
- Yoghurt & Buttermilk
- Fruit Juice
- Carbonated Soft Drinks
- Alcoholic Beverages
- Others
- Pharmaceutical
- Personal care & Cosmetics
- Other End Use
Region:
- North America
- Latin America
- Europe
- South Asia
- East Asia
- Oceania
- Middle East and Africa (MEA)
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Key Questions Covered in the Metallized PET Cartons Sales Outlook Report
- The report offers insight into metallized PET cartons demand outlook for 2021-2031
- The market study also highlights projected sales growth for metallized PET cartons market between 2021 and 2031
- Metallized PET cartons market survey identifies key growth drivers, restraints, and other forces impacting prevailing trends and evaluation of current market size and forecast and technological advancements within the industry
- Metallized PET cartons market share analysis of the key companies within the industry and coverage of strategies such as mergers & acquisitions, joint ventures, collaborations or partnerships, and others
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About Future Market Insights
Future Market Insights (FMI) is a leading provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in Dubai, and has delivery centres in the UK, U.S. and India. FMI's latest market research reports and industry analysis help businesses navigate challenges and make critical decisions with confidence and clarity amidst breakneck competition. Our customized and syndicated market research reports deliver actionable insights that drive sustainable growth. A team of expert-led analysts at FMI continuously tracks emerging trends and events in a broad range of industries to ensure that our clients prepare for the evolving needs of their consumers.
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