Wilmington, Delaware, Aug. 23, 2024 (GLOBE NEWSWIRE) -- Allied Market Research published a report, titled, "Pet Bottle Blow Molding Machine Market by Machine Type (Injection Stretch Blow Molding Machines (ISBM), Extrusion Blow Molding Machines (EBM), Stretch Blow Molding Machines (SBM), Injection Blow Molding Machines (IBM), Others), Technology (Single Stage, Two Stage and Hybrid), and End User (Food & Beverages, Pharmaceuticals and Others): Global Opportunity Analysis and Industry Forecast, 2024-2032".The global pet bottle blow molding machine market was valued at $0.9 billion in 2023, and is projected to reach $1.2 billion by 2032, growing at a CAGR of 3.2% from 2024 to 2032.
Prime determinants of growth
Rise in awareness related to environment pollution, stringent government regulations associated with plastic, and rapid boost in the beverages industry especially in the developing countries drive market growth. However, the fluctuating cost of raw materials has a negative impact on the profitability of the key players in the market, which restrains market growth. On the other hand, inclusion of industry 4.0 technology in the machines is anticipated to provide opportunities for market expansion.
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Report coverage & details:
| Report Coverage | Details |
| Forecast Period | 2024–2032 |
| Base Year | 2023 |
| Market Size in 2023 | $0.9 billion |
| Market Size in 2032 | $1.2 billion |
| CAGR | 3.2% |
| No. of Pages in Report | 207 |
| Segments Covered | Machine Type, Technology, End User, and Region. |
| Drivers |
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| Opportunity |
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| Restraint |
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Segmental Overview
On the basis of machine type, the extrusion blow molding machines (EBM) segment held the highest market share in 2023. EBM machines are highly versatile, capable of producing a wide range of products such as bottles, containers, and automotive parts, making them suitable for various industries. However, Injection Stretch Blow Molding Machines (ISBM) are expected to grow with a significant CAGR during the forecast period. The anticipated growth of ISBM can be attributed to several factors. Firstly, ISBM machines offer advantages such as superior precision, higher productivity, and better material distribution compared to other blow molding technologies.
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On the basis of technology, the two-stage machine accounted for the highest market share in 2023. Two stage machines are preferred due to their higher production efficiency, flexibility, and capability to produce bottles of various shapes and sizes with consistent quality. They are widely used in the beverage industry for producing large volumes of PET bottles, making them the dominant choice in the market compared to single-stage and hybrid machines. However, the hybrid machine is expected to grow with a higher CAGR during the forecast period. Hybrid machines combine the advantages of both single stage and two stage processes, offering enhanced flexibility, energy efficiency, and cost-effectiveness.
On the basis of end user, the food & beverages segment accounted for the highest market share in 2023 as there has been a notable increase in the consumption of packaged food and beverages driven by consumer preferences for convenience and on-the-go consumption. This surge in demand necessitates efficient packaging solutions, such as bottles and containers produced by blow molding machines. However, the pharmaceutical segment is expected to grow with a higher CAGR during the forecast period, driven by factors such as an aging population, increased healthcare awareness, and the rising prevalence of chronic diseases. This demand necessitates robust packaging solutions to ensure the safe storage, transportation, and administration of medications.
Asia-Pacific to maintain its dominance by 2032.
Asia-Pacific is expected to maintain its dominance in the PET bottle blow molding machine market by 2032 due to several key factors. The region's large and growing population, particularly in countries like China and India, drives substantial demand for beverages, including bottled water, soft drinks, and alcoholic beverages. Rapid urbanization and rising disposable incomes in these countries are increasing the consumption of both non-alcoholic and alcoholic beverages. Furthermore, the expanding middle class in Asia-Pacific is showing a preference for convenience products, which boosts the demand for PET bottles. In addition, the strong presence of major beverage manufacturers and their continuous investment in production facilities within the region contribute to this dominance. The growth of e-commerce and the increase in trend of on-the-go consumption further foster the demand for PET bottle blow molding machine. Moreover, advancements in packaging technology and increased focus on sustainability practices, such as the use of recyclable PET, align with consumer preferences and regulatory standards, thereby reinforcing Asia-Pacific's leading position in the market.
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Players
- Sidel Group
- Krones AG
- Nissei ASB Machine Co., Ltd.
- SIPA S.p.A.
- Aoki Technical Laboratory, Inc.
- KHS GmbH
- SMI S.p.A.
- SACMI Group
- Kautex Maschinenbau GmbH
- Jomar Corporation.
The report provides a detailed analysis of these key players in the global PET bottle blow molding machine market. These players have adopted different strategies such as new product launches, collaborations, expansion, joint ventures, agreements, and others to increase their market share and maintain dominant shares in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.
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