Polyethylene is a synthetic polymer that has recently become a very popular ingredient in the manufacture of plastic. It is used in a variety of different industries for a wide range of purposes including tubing and pipe fittings, as well as many different types of protective coatings for products like medical devices. The typical application of PET preforms is in packaged drinking water. The demand for packaged drinking water has been on a rise in both developed and emerging economies due to convenience and increased awareness regarding drinking clean water. As per the Trade Promotion Council of India, in 2019, the Indian packaged drinking water bottle market was valued at US$ 24 billion, which is expected to reach US$ 60 billion by 2023. Such factors can augment growth of the PET performs market.
Polyethylene terephthalate isn't just made for bumpers though. It can be found in a wide range of other products, including plastic cups and containers. This material is also frequently found in medicines, lubricants, and even electronics because it's so durable and reusable. When it comes to regional impact, emerging economies such as Japan and China are exhibiting high growth in the PET performs market. This is typically due to the high demand for packaged drinking water and high demand from various end-use industries. Furthermore, North America is witnessing high demand for PET preforms due to high consumption of soft drinks, functional drinks, and packaged drinking water.
Recently, in November 2019, Société Générale des Techniques (SGT) inaugurated a new SGR plastics recycling line and its PET preform manufacturing unit in France.
Regardless, PET packaging has certain limitations, especially with oxygen-sensitive products. Besides, the demand for carbonated drinks is gradually slowing down since consumers are becoming increasingly aware of the adverse effects of these drinks. Thus, such factors can limit growth of the PET performs market significantly in the near future.
Polyethylene's flexibility and resilience are one of its main selling points, but the material also has many other potential uses. One of the biggest areas of use is in the production of plastic bumpers. Polyethylene's exceptional chemical and physical properties make it ideal for filling in spaces in bumpers. One of the major reasons why PET performs find wide applications is their favorable properties as packaging material. The PET preforms are hard, strong, stiff, and dimensionally stable material that absorbs very little water. Besides, it offers great gas barrier properties and excellent chemical resistance except to alkalis. Such properties can enhance the PET performs market in the near future.
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