The versatility and adaptability of metallized PET packaging to a wide range of products across various industries and the technological advancements in metallized packaging technology are projected to drive the global metallized PET packaging market’s growth during the forecast period. The Asia-Pacific region is predicted to witness prominent growth by 2032.
NEW CASTLE, Del, March 28, 2024 (GLOBE NEWSWIRE) — Allied Market Research has recently published a report, titled, “Metallized PET Packaging Market Size, Share, Competitive Landscape and Trend Analysis Report by Type, by Application: Global Opportunity Analysis and Industry Forecast, 2023-2032.” According to the report, the global metallized pet packaging market size was valued at $6 billion in 2022, and is projected to reach $9.8 billion by 2032, growing at a CAGR of 5.1% from 2023 to 2032.
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Prime Determinants of Growth
The versatility and adaptability of metallized PET packaging to a wide range of products across various industries and its substantial benefits in terms of visual appeal and branding are the factors expected to drive the growth of the global metallized PET packaging market in the forecast period from 2023 to 2032. However, the metallization process used in PET packaging can complicate recycling streams and lead to environmental challenges, which may hamper the market growth in the coming future. On the contrary, the technological advancements in packaging technology and the ongoing innovations in material science are expected to offer remunerative opportunities for the expansion of the metallized PET packaging market during the forecast period.
Report Coverage & Details:
| Report Coverage | Details |
| Forecast Period | 2023–2032 |
| Base Year | 2022 |
| Market Size in 2022 | $6 billion |
| Market Size in 2032 | $9.8 billion |
| CAGR | 5.1% |
| No. of Pages in Report | 299 |
| Segments covered | Type, Application, and Region |
| Drivers | Versatility and adaptability to a wide range of products across various industries Substantial benefits of metallized PET packaging in terms of visual appeal and branding |
| Opportunities | Advancements in metallization technologies Ongoing innovation in materials science |
| Restraints | High costs and environmental impact |
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Type: Aluminum Metallized PET Films Sub-segment to Witness Significant Growth by 2032
The aluminum metallized PET films sub-segment accounted for the largest global metallized PET packaging market share of 46.7% in 2022 and is expected to hold major share by 2032. This is mainly because the demand for these films is propelled by their superior barrier properties, extended shelf life, and aesthetic appeal, making them ideal for applications in food, beverages, and pharmaceuticals. In addition, there is an increase in preference for lightweight, sustainable packaging solutions globally, aligning with the properties offered by aluminum metallized PET films. Further, technological advancements in metallization processes enhance film performance, further boosting market adoption.
Application: Packaging Industry Sub-segment to Flourish Immensely During the Forecast Period
The packaging industry-segment accounted for the largest market share of 28.4% in 2022 and grow at the highest CAGR of 6.8% during the forecast period. This dominance is majorly owing the upsurge in demand for lightweight and sustainable packaging solutions, combined with PET’s excellent barrier properties and aesthetic appeal. This has driven its adoption across various sectors within the packaging industry. In addition, the increasing emphasis on product differentiation and brand enhancement, particularly in the food & beverage industry, fuels the demand for metallized PET packaging.
Region: Asia-Pacific Market to be Most Dominant by 2032
The metallized PET packaging market in the Asia-Pacific region accounted for the largest share of 41.5% in 2022 and is predicted to grow at the highest CAGR of 6.3% during the forecast period. This growth is mainly owing to the region’s increasing focus on sustainable packaging solutions, driven by environmental concerns, and fueling demand for metallized PET, renowned for its recyclability and lightweight nature. Besides, the surge in demand for convenience and ready-to-eat food products in Asia-Pacific drives the adoption of metallized PET packaging in the food industry. Moreover, advancements in metallization technologies and the versatility of PET as a packaging material further contribute to the regional market growth.
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Leading Players in the Metallized PET Packaging Market:
- Terphane (Tredegar Corporation)
- Gaylord Packers
- Hangzhou Hengxin(Jinxin) Filming Packaging
- Ester Industries Limited
- Vacmet India Ltd
- Polyplex Corporation
- Alpha Industry Company
- Cosmo Films
- Sumilon Industries
The report provides a detailed analysis of the key players of the global metallized PET packaging 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 their dominance 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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Originally published at https://www.einpresswire.com/article/699440455/metallized-pet-packaging-market-to-reach-9-8-billion-globally-by-2032-at-5-1-cagr-allied-market-research
