Acquisition was the Key Strategy Adopted by Major Players to Enhance their Presence in the Global PET Preforms Market Between 2014 and 2017.
The global PET preforms market is expected to reach USD 23.35 Billion by 2022, at a CAGR of 5.31% from 2017 to 2022. The PET preforms have applications in carbonated soft drinks, water, food, non-carbonated drinks, cosmetics & chemicals, and pharma & liquor, among others. The growing demand for PET preforms in carbonated soft drinks and water applications is expected to boost the growth of the global PET preforms market.
Acquisition was the key strategy adopted by major players to enhance their presence in the global PET preforms market between 2014 and 2017. This strategy accounted for a major share of all development strategies adopted by leading players during the above-mentioned period. Key players operating in the global PET preforms market include Retal Industries Ltd. (Cyprus), Plastipak Holdings, Inc. (US), RESILUX NV (Belgium), ALPLA Werke Alwin Lehner GmbH & Co KG (Austria), Zhuhai Zhongfu Enterprise Co. Limited (China), Societe Generale des Techniques (France), Indorama Ventures Public Company Limited (Thailand), KOKSAN Pet Packaging Industry Co. (Turkey), Taiwan Hon Chuan Enterprise Co., Ltd (Taiwan), and Rawasy Al Khaleej Plastic Ind. (UAE).
Besides acquisitions, new product launches and expansions were the other key strategies adopted by market players to enhance their market shares and expand their geographical reach.
ALPLA Werke Alwin Lehner GmbH & Co KG used acquisition as its major strategy to increase its market share in the PET preforms market. In February 2017, ALPLA Werke Alwin Lehner GmbH & Co KG acquired Star East Pet SRL (Romania), a producer of PET preforms for drinks, food, and non-food products. Through this acquisition, ALPLA intends to increase its production capacities, product portfolio, distribution network, and customer base in the Eastern Europe. In October 2015, ALPLA Italia S.R.L. (Italy), a subsidiary of ALPLA, acquired Plasco S.p.A. (Italy), a producer of PET preforms with has an annual production capacity of around 2.5 billion units. This acquisition will help ALPLA increase its presence in Italy.
RETAL Industries Ltd. used new product development and expansion as its major strategies to cater the increasing demand for PET preform products from its customers. In March 2017, RETAL Industries Ltd. started manufacturing preforms suitable for producing disposable PET kegs at its production facilities located in Russia. PET keg is considered to be efficient for transportation of beer, kvass (effervescing drink made of water, berries, fruits, or honey), lemonades, and low-alcohol cocktails. With this new type of preforms, the company strengthened its position in the alcoholic beverages (liquor) market. In August 2016, RETAL PA LLC, a subsidiary of RETAL Industries Ltd. started construction of a manufacturing plant and a regional headquarter in Donora, US. The company has planned to invest at least USD 15 million in the project which may reach up to USD 24 million. With this project, the company expects to increase its regional presence in North America.
Related Reports:
PET Preforms Market by Type (Type 1, Type 2, Type 3, Type 4, Type 5), Application (Carbonated Soft Drinks, Water, Food, Non-Carbonated Drinks, Cosmetics & Chemicals, Pharma & Liquor), and Region - Global Forecast to 2022
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