Project Report For Plastic Container
The project report for plastic container is as follows.
The global plastics industry is watching manufacturing units shift continuously to low-cost Asian nations. With growing foreign investment as well as an increase throughout the region’s amount of new manufacturing industries, Asia is becoming the leading and fastest increasing plastic materials market. In particular , due to expanding production operations in the nations, China and India are offering huge opportunities for growth. Packaging is the important application industry for both the plastic materials, accounting for nearly 60.0 percent of total plastics demand. Plastic packaging intake in market is expected to grow 10.0 million tonnes by 2020.
Gathered with both the increase in capital investment, the FMCG sector poses as fastest growing sector for both the nation’s packaging sector. Packaging requirement for these products will have to guide the growth of the company ‘s plastic packaging sector. Polyethylene Terephthalate, commonly known as PET, is expected to increase the quickest in the vast relatives of plastics at 11.
Market potential & Strategy
The global market for PET bottles produced a total of even more than 17 million tonnes in 2018, with CAGRs accounting for more than 2.3 per cent in 2011-2018. The industry has been further anticipated to rise almost 19 million tonnes by 2024, with a CAGR of almost 2.1 percent by 2019-2024. Polyethylene terephthalate (PET) relates to the polyester family of thermoplastic polymer resins that are commonly used during the manufacture of plastic bottles.
Compared to PP, HDPE and PVC bottles, PET bottles are much more sturdy, transparent, lightweight, non-reactive, cost-effective and thermal stability. Besides that, they are environmentally friendly and it can be reprocessed repetitively, that further decreases their production costs.
Mainly used throughout the packaging of drinking water and beverages, PET bottles also are getting importance as a products remedy for salad dressings, household cleaners, medicines, detergents and mouthwashes. Rising westernisation trends, trying to inflate spending power and changing consumer meal trends have doubled consumer demand for bottled beverages, especially in developing countries.
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