Blow Molded Plastics Market Size, Share, Growth and Global Industry Analysis By Type & Application, Regional Insights and Forecast to 2024-2032
Growth Factors of Blow Molded Plastics Market
The blow molded plastics market size was valued at USD 77.07 billion in 2019, and the market is now projected to grow to USD 100.13 billion by 2032, exhibiting a CAGR of 2.8% during the forecast period of 2019-2032.
Government has put restrictions on social gatherings, events and moving out from home which make the people homesick. Numerous companies are encountering hurdles due to covid pandemic as the outbreak situation has curtailed production and supply chain which has hindered the market switched to treating covid patients as priority over the other procedures which led the blow molded plastics market growth. Additionally, manpower shortages affected manufacturing plants and slowed production due to movement restrictions and lockdowns in several regions. The pandemic has also had a negative impact on facial recognition door lock manufacturing and production facilities. The disruption in the supply chain and the decreased availability of labor, staff, and resources are the causes of this. The market is expected to grow slowly. However, subject to the treatment segment returning to its regular operations, the product demand will gradually revert to its historical estimations as lockdown requirements are gradually relaxed.
Growing need for lightweight packaging will drive the blow molded plastics market growth during forecast period. Blow-molded plastics are widely utilized in packaging applications because they do not react with food or chemicals. The most typical applications for these goods are soft drink bottles and drinking water bottles. The growing demand for packaged food because to its lightweight and good stiffness will drive the blow molding sector forward. Furthermore, the recent advancements in blow molded technologies are likely to boost market growth since the new production techniques will be more energy-efficient, time-saving, and environmentally friendly. Furthermore, numerous government agencies are encouraging recycling and reuse regulations to reduce pollution and landfills, which is likely to generate growth prospects in blow molded plastics.
Weight reduction of PET bottles is the key trend in the market. Several producers are concentrating on reducing the weight of PET bottles by limiting raw materials or recycling polymers. The producers' primary focus is on weight reduction, the use of r-PET, and recyclability. For example, Redupet has developed two new ways for development. The two technologies are Mint-Tec and Snap Fit Technology. Mint-Tec is utilized to mint the shape and drastically lower the wall thickness of the perform base, whereas snap fit technology is mostly used for food and beverage packaging. The feature features a bottom container that snaps onto the base of larger top bottles.
Comprehensive Analysis of Blow Molded Plastics Market
The blow molded plastics market and Chemicals & Advanced Materials industry is rising at an exponential rate due to its market segmentation. This market expansion effectively provides a detailed regional assessment considering the dominant supply and demand forces that impact the pharmacy benefit management industry. These segmentations are methodically segregated by Resin, by Molding Method and by application. The Resin segmentations include Polyethylene Terephthalate (PET), Polyethylene (PE), Polypropylene (PP), Polyvinyl Chloride (PVC), Polystyrene (PS), Acrylonitrile butadiene styrene (ABS), By Molding Method segmentations include Extrusion Blow Molding, Injection Blow Molding, Stretch Blow Molding, Rotational Blow Molding, By application segmentations include Transportation, Packaging, Building & Construction, Electrical & Electronics, Consumer products, Others (medical, marine, etc.).
The Asia Pacific region lead the blow molded plastics market by benefitting a market size of USD 37.96 billion in 2027 due to Growing need for lightweight packaging and Weight reduction of PET bottles.
The top players in the market play a crucial role in the Chemicals & Advanced Materials industry assuring industrial prospectus growth and setting market standards. These players include, Apex Plastics (U.S.), Inpress Plastics Ltd. (UK), Garrtech, Inc. (Canada), Berry Global, Inc. (U.S.), Comar, LLC (U.S.), Rutland Plastics Ltd. (UK), The Plastic Forming Company, Inc. (U.S.), Agri-Industrial Plastics (U.S.), Creative Blow Mold Tooling (U.S.), North American Plastics, Ltd. (U.S.), INEOS Group (UK), Other these market players provide a level-playing competitive landscape.
In November 2018, Krones, also produces blow molded machines, has acquired MHT Holding AG, a mold and hot runner supplier for PET performs based in Germany.
Segmentation Table
ATTRIBUTE DETAILS
Study Period 2016-2027
Base Year 2019
Forecast Period 2020-2027
Historical Period 2016-2018
Unit Value (USD Billion/USD Million) and Volume (Million ton/Kilo ton)
SegmentationBy Resin
Polyethylene Terephthalate (PET)
Polyethylene (PE)
Polypropylene (PP)
Polyvinyl Chloride (PVC)
Polystyrene (PS)
Acrylonitrile butadiene styrene (ABS)
Others (Polycarbonate, Polyamide, etc.)
By Molding Method
Extrusion Blow Molding
Injection Blow Molding
Stretch Blow Molding
Rotational Blow Molding
Others ( reaction, compression transfer, etc.)
By Application
Transportation
Packaging
Building & Construction
Electrical & Electronics
Consumer products
Others ( medical, marine, etc.)
By Geography
North America
By Resin
By Molding Method
By Application
By Country
U.S.
Canada
Europe
By Resin
By Molding Method
By Application
By Country
Germany
France
Italy
Poland
Russia
Rest of Europe
Asia Pacific
By Resin
By Molding Method
By Application
By Country
China
India
Japan
ASEAN
Rest of Asia Pacific
Latin America
By Resin
By Molding Method
By Application
By Country
Brazil
Mexico
Rest of Latin America
Middle East & Africa
By Resin
By Molding Method
By Application
By Country
Saudi Arabia
South Africa
Rest of Middle East & Africa
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