PET packaging market to hit $57 billion by 2017, study says


The global market for PET used in packaging is expected to grow to almost 19.1 million tons by 2017, with an annual growth rate of more than 5%, according to a report from market research firm Pira International.

PET packaging is expected to decline in North America and Western Europe, and will experience higher growth in the Asia Pacific, South and Central America, Central and Eastern Europe and the Middle East and Africa.

"The developing countries of Asia Pacific, South America and Central and Eastern Europe show higher growth for PET packaging due to growing real incomes and the replacement of traditional pack formats by PET bottles," the company stated.
Read more