Global PE blow molded product Market Size, Share & Trends Analysis Report, By Product Type, By End-use, By Region Forecasts, 2023 - 2030

Global PE blow molded product Market Size, Share & Trends Analysis Report, By Product Type, By End-use, By Region Forecasts, 2023 - 2030

Global PE blow molded product Market was valued at US $ 73.41 Billion in 2022 and is expected to reach US $ 109.3 Billion by 2030 growing at a CAGR of 5.1% during the forecast period 2023 – 2030.

The PE Blow Moulded Plastics Market is concerned with the worldwide industry that produces and sells plastic items made by blow moulding, with polyethylene serving as the main raw material. This industry includes a wide range of hollow-shaped PE blow-molded products, including bottles, containers, automotive parts, industrial equipment, and consumer goods. These goods are renowned for their unusual manufacturing process, which involves blowing air into a molten plastic mixture to form it into the appropriate shapes. Their services cater to many sectors such as consumer products, automotive, healthcare, and packaging. They offer solutions that are resilient, affordable, and flexible enough to satisfy changing industry requirements and customer requests. Aspects including product customisation, technical improvements, production methods, sustainability initiatives, and the growing demand for PE blow-molded products across several industries influence the market landscape.

The market for blow-molded polyethylene (PE) products has grown significantly, mostly because to the increased need for protective gowns and face masks. PE is the material of choice for making protective gear because of its remarkable qualities, which include its lightweight comfort, efficient barrier qualities, and economical production. These characteristics are very helpful for face masks and gowns, which are often worn for extended periods of time, particularly during international health emergencies such as the COVID-19 pandemic. Statista projects that the Face Masks segment will generate US$11.30 billion in revenue in 2023, growing at a predicted annual rate of -21.69% (CAGR 2023-2027). China is the market leader worldwide, with projected revenue of US$3,897,000,000 in 2023. Individually, people are projected to generate $1.47 in revenue in 2023. The volume of face masks is expected to reach 14.61 billion pieces by 2027, with an average of 5.85 pieces per person in 2023, despite a brief -61.6% volume reduction in 2024. The Face Masks segment is expected to achieve a global market volume of US$4.25 billion by 2027, despite the anticipated decline in market size. This illustrates how significantly the need for protective gear affects market dynamics.

“Containers segment, by product type, to be dominating market from 2023 to 2030.”

Containers have been the most popular category because of their exceptional adaptability and extensive use in many different sectors. These containers are used to package a variety of goods, meeting the varied needs of customers, from food and drink to personal hygiene products. Containers are still the favoured option because of their capacity to meet customer demands for portability and resealability, especially in light of the trend towards single-serve and convenience packaging. Meanwhile, drums have become the fastest-growing segment in this market, carving out a position for themselves. Drums are primarily used in the industrial sector as sturdy containers for the transportation and storage of a variety of materials, such as lubricants and chemicals. The need for drums has been fuelled by the growth of manufacturing, the surge in industrialization, and the expansion of infrastructure since drums must meet strict safety and compliance standards.

“Food & Beverage segment, by end use, to be dominating market from 2023 to 2030.”

The food and beverage sector is expected to contribute significantly to overall sales, and blow-molded products will be essential to maintaining the freshness and quality of packaged goods. The growing demand for blow-molded products is being driven by the expanding food and beverage industry, especially in emerging economies. Similarly, during the course of the projection period, the personal care and cosmetics sector is expected to have substantial revenue increase. Blow-molded goods are preferred for packaging cosmetics and personal care products because of their user-friendly characteristics, toughness, and light weight. The growing consumer awareness of personal hygiene and grooming is another factor driving the industry's growth.

“Asia Pacific to be largest region in PE blow molded product market.”

The market for polyethylene (PE) blow-molded products is led by the Asia-Pacific (APAC) region, which is growing at a very quick pace because of a number of strong drivers. This leadership is driven by the extraordinary economic expansion of the region, especially in China and India, which has increased demand for a variety of PE blow-molded products, including containers, packaging, and automotive parts. Urbanisation has led to a change in consumer preferences and an increase in the need for packaged goods and products, which in turn has increased demand for PE blow-molded items. The population is growing and changing. Massive expenditures in infrastructure development, along with the region's strong industrialization and manufacturing expansion, have created a high demand for PE blow-molded products across a range of industries. In addition, advantageous government regulations, economical manufacturing, and growing environmental awareness have combined to make APAC the market leader. The region's prominence in the PE blow moulded product market has increased due to its investments in modern manufacturing technologies and its reputation as a worldwide export hub. As a result, the industrial landscape is attractive and rapidly evolving.

PE blow molded product Competitive Landscape

The competitive landscape of the Advanced Manufacturing market involves assessing the competitive landscape to understand the strengths, weaknesses, opportunities, and threats of the industry. Key industry players have recognized that the adoption of PE blow molded product technology holds the potential for further growth. The growing desire among producers to optimize their production costs has spurred collaborative efforts among companies to scale up their production capacity. This strategic collaboration not only aims to increase revenue but also seeks to establish dominance in the market.

The PE blow molded product market is highly competitive, with numerous companies vying for market share. Prominent companies in the PE blow molded product Market include:

Berry Global Group, Inc., Magna International, Inc., International Automotive Components Group, S.L. (IAC Group), Pet All Manufacturing, Inc., Comar, LLC, Inpress Plastics Ltd., Rutland Plastics Ltd., Agri-Industrial Plastics, The Plastic Forming Company, Inc., Garrtech Inc., North American Plastics, Ltd., Creative Blow Mold Tooling, Machinery Center, Inc., APEX Plastics, INEOS Group, Custom-Pak Ltd., LyondellBasell Industries Holdings B.V., Gemini Group, Inc., Exxon Mobil Corporation, Jindal Plastic and others.

Recent developments:

With the introduction of InfinityTM CircularTM Polyethylene resins in 2021—a product range intended for both flexible and rigid packaging applications—the Dow Chemical Company made a big stride towards sustainability. With a minimum of 70% recycled material derived from post-consumer plastic waste, these cutting-edge resins demonstrate Dow's commitment to environmental responsibility.

Borealis AG disclosed its planned approach to strengthen its position in the circular economy in 2021. The business revealed its intentions to buy Ecoplast Kunststoffrecycling GmbH, a well-known recycling company in Austria that specialises in handling mixed post-consumer plastic trash. Borealis sought to align itself with the values of sustainability and environmental consciousness by expanding its product line and improving its recycling capabilities through this acquisition.