Albany, NY -- (SBWIRE) -- 12/07/2018 -- PET, also known as polyethylene terephthalate, is a type of polyester. It is expelled or shaped into plastic jugs and boxes for packaging offood and refreshments, personal care items, and several other consumer products.PET is an ethylene glycol polymer and terephthalic corrosive. Pellets of PET pitch are warmed to form afluid, which can be effortlessly expelled into any shape. PET was first incorporated in the U.S. inthe mid-1940s by physicists working in DuPont,who were scanning for polymers that could be utilized to make new material filaments. PET is an exceptionalbundling material,asit is solid yet lightweight, non-receptive, sparing, and shatterproof. PET's security for sustenance, refreshment, individual care, pharmaceutical, and restorative applications has beenperceived by wellbeing experts around the globe.
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The global market for PET packaging has beensegmented on the basis of form, packaging type, pack type, and end-use industry. Based on form, the market has beensegregated into amorphous PET and crystalline PET. The amorphous PET segment held a major market share in 2016 and the trend is anticipated to continue throughout the forecast period. Thesegment is also anticipated to witness rapid growth during the forecast period.Based on packaging type, the global PET packaging market has beensegregated into rigid packaging and flexible packaging.
The rigid packaging segment accounted fora leadingmarket share in 2016 and the trend is projected to continue throughout the forecast period. This segment is also anticipated to witness rapid growth during the forecast period. This is attributableto the rise in demand forPET packaging end-products such as jars andbottles, containers, and trays.Based on pack type, the global market for PET packaging has beendividedinto bottles & jars, bags & pouches, trays, lids/caps & closures, and others.The bottles & jars segment held a leadingmarket share in 2016 and is projectedto retain its dominanceduring the forecast period.Rising demand for cost-effective and sustainable packaging in end-use industries such as food, beverages, pharmaceutical, and personal care is resulting in the rise indemand for bottles andjarsworldwide.The bottles & jarssegment is also expected to witness rapid growth during the forecast period.
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Based on filling technology, the global market for PET packaging has beendividedinto hot fill, cold fill, aseptic fill, and others. The cold fill technology segment held a major market share in 2016 and is estimated to continueits dominance throughout the forecast period. This is attributableto thecost-effectiveness of this technology. The hot fill technology segment is projected to witness rapid growth during the forecast period.