Project Report For Plastic Bottle Manufacturing
Project report for Plastic Bottle Manufacturing is as follows.
The global plastics sector is witnessing a steady movement in production bases to low-cost Asian nations. Asia has surpassed the United States as the world’s largest and fastest expanding market for plastics, thanks to increased foreign investment and the addition of new manufacturing facilities. Because of their rising manufacturing activity, China and India, in particular, provide huge growth potential. The packaging industry is the most important application for plastics, accounting for over 60% of total demand. India is anticipated to consume 10.0 million tonnes of plastic for packaging by 2020. With the in the capital, the FMCG sector complied. Investment is one of the country’s most important growth factors for the packaging industry. The need for packaging for these products must drive the growth of the country’s plastic packaging industry.
PET, or Polyethylene Terephthalate, is predicted to increase at the quickest rate among the broad family of plastics, at 11.0 per cent every year. The vast majority of PET available in India is used in the manufacture of bottles. PET bottles have flooded the Indian market in recent years, with yearly consumption growth rates topping 20%. PET is steadily displacing traditional bottle raw materials including glass and metal. Aside from being small and light, PET offers several other advantages such as pack weight reduction, packaged goods are easier to handle and having a longer shelf life. PET bottles are also appealing in terms of environmental sustainability, technological performance, and aesthetics. PET packaging is becoming more popular in the healthcare and personal care areas, as well as packaged goods and beverages. PET bottles are in high demand in India, thanks to advances in packaging material technology and rising demand for product protection and stability. The global PET bottle industry surpassed $17 billion in volume. Million Tons in 2018, with a compound annual growth rate (CAGR) of more than 2.3 per cent from 2011 to 2018. By 2024, the market is expected to reach about 19 million tonnes, with a CAGR of roughly 2.1 per cent between 2019 and 2024. PET stands for polyethene terephthalate, a thermoplastic polymer resin of the polyester family that is commonly utilised in the production of plastic bottles. As a result, the industry’s future looks bright, and demand is growing by the day
Market potential & Strategy
The global PET bottle market reached more than 17 million tonnes in 2018, with a compound annual growth rate (CAGR) of more than 2.3 per cent from 2011 to 2018. By 2024, the market is expected to reach about 19 million tonnes, with a CAGR of roughly 2.1 per cent between 2019 and 2024. PET stands for polyethene terephthalate, a thermoplastic polymer resin of the polyester family that is commonly utilised in the production of plastic bottles. PET bottles are more durable, transparent, lightweight, non-reactive, cost-effective, and thermally stable than PP, HDPE, and PVC bottles.
Furthermore, they are environmentally beneficial and may be recycled multiple times, lowering their manufacturing costs even further. PET bottles are gaining popularity as a packaging solution for salad dressings, household cleaners, medicines, dish detergents, and mouthwashes. PET bottles are primarily used in the packaging of drinking water and beverages, but they are also being used in the packaging of salad dressings, household cleaners, medicines, dish detergents, and mouthwashes. Demand for bottled beverages has increased as a result of the growing tendency of westernisation, rising disposable incomes, and changing consumer dietary patterns, particularly in developing nations like India and China. Furthermore, consumers’ hectic lifestyles have enabled them to choose on-the-go beverages. PET bottles can be shaped into a variety of shapes to improve their appearance and functionality.
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