In 2014, a leading global market research agency published its findings of a study conducted on the prospects for the Indian PET Preform trade and industry. It projected a highly optimistic market outlook till 2018. During this survey, it was noted that packaging sector is the largest application sector for the plastic industry, representing almost 60 percent of the total plastics demand. The forecast on consumption of plastics in this segment indicated a mammoth figure of 10 million tonnes by the year 2020.
Indeed, these signs have spelt a boon for the manufacturers of Injection Moulding Machine that is extensively used in PET bottling and allied products. Many of the companies engaged in this industry have created a global impact too. To cite an instance, the Delhi NCR-based Ashish Tools has geared up to meet the challenges of the future. Keeping in view these aspects, it has already setup a unit where mould Base are mould Inserts are assembled in dust proof environment. The range of machinery at this plant includes latest CNC systems from reputed international brands like DMG, Mori Seiki & BFW.
Reportedly, this company has been offering diversified technology to the PET industry at home as well as abroad with highly rated ISBM (injection stretch blow moulding) Hot Runner systems. In these, the diametrical nozzle design enables positive tip alignment. Through computer simulated analysis, the quality in each system is maintained.
The following factors have lent an impetus to the PET bottling sector:
- Better Shelf Life for packed items than conventional glass, ceramic or metal
- Growth of Retail Market and Increase in Consumerism
- High Demand from Food and Beverage industry
- Steep rise in FMCG sector
- Growing Pharmaceutical market
- Progressive Paint and Lubricant industry
- Changing Lifestyle
- Untapped Market Potential
- Trends of Growth in the Rural segment
- Logistical Advantages
Thus the market size of India PET preform industry in terms of production, volume and turnover is bound to reach newer heights.