Rising awareness regarding environmental impact due to improper disposal of plastics and increasing initiatives to encourage use of recyclable plastics are some key factors expected to drive
Global GCC PET Bottle Market to be Driven by the Favourable Properties of the Product in the Forecast Period of 2021-2026
iCrowd Newswire
28 Jul 2021, 12:08 GMT+10
The new report by Expert Market Research titled, GCC PET Bottle Market Report and Forecast 2021-2026 , gives an in-depth analysis of the GCC PET bottle market, assessing the market based on its segments like capacity, color, distribution channel, end-use, technology and major regions. The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter s Five Forces models.
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The global PET bottle market reached a volume of 13.1 Million Tons in 2020. Polyethylene terephthalate (PET) refers to a thermoplastic polymer resin of the polyester family which is widely used for manufacturing plastic bottles. In comparison with PP, HDPE and PVC bottles, PET bottles are more durable, transparent, lightweight, non-reactive, cost-effective and thermally stable. Moreover, they are environment-friendly and can be recycled repeatedly which further reduces their manufacturing cost. Primarily used in the packaging of drinking water and beverages, PET bottles are also gaining prominence as a packaging solution for salad dressings, household cleaners, medicines, dish detergents and mouthwashes. Looking forward, the publisher expects the global PET bottle market to exhibit moderate growth in the next few years.