Blow Molded Plastics Market

Blow Molded Plastics Market Size

Molded Plastics Market to surpass USD 108.9 billion by 2032 from USD 74.86 billion in 2021 at a CAGR of 3.5% in the coming years, i.e., 2022-32. 

Blow Molding is a procedure in which hollow plastic products are formed. The process includes blowing heated plastic tubes in the desired shapes.  Many products are manufactured using blow molding such as water bottles, shampoo bottles, containers, etc. To manufacture blow molded plastics various types of thermoplastics are used including Polyvinyl Chloride, Polyethylene, Polystyrene, Polyethylene Terephthalate, Acrylonitrile Butadiene Styrene, and Polypropylene. Extrusion blow molding, Injection blow molding, and Stretch blow molding are three main types of Blow Molding processes. Blow molded plastics have a wide application in Automotive & Transport, Packaging, Consumables and Electronics, Medical, Building and Construction, and Others.

Market Highlights

Blow Molded Plastics market is expected to project a notable CAGR of 3.5% in 2032.

Growing demand for blow-molded plastics from various end users, rising need for packaging alternatives,s and growing advancements in technology and research and development activities are driving the growth of Blow Molded Plastics market.

Blow Molded Plastics Market: Segments

Polyethylene (PE) segment holds the largest market share

Blow Molded Plastics market is classified on the basis of type into Polyethylene (PE), Polyethylene Terephthalate (PET), Polypropylene (PP), Polyvinyl Chloride (PVC), Polystyrene (PS) and Acrylonitrile Butadiene Styrene (ABS). Polyethylene (PE) segment is dominating the market with the largest market share. The growth is attributed to the extensive use of polyethylene in Packaging Consumables & Electronics industries. High-density Polyethylene (HDPE) and Low-density Polyethylene (LDPE) are used to manufacture various grades of bottles for packaging different products. Polyethylene Terephthalate (PET) is expected to grow at a significant rate during the forecast period as PET bottles are fully recyclable.

Packaging segment holds the largest market share

Blow Molded Plastics market is classified on the basis of application into Packaging, Consumables and Electronics, Automotive & Transport, Building and Construction, Medical, and Others. Packaging segment holds the largest market share and is expected to grow at a significant rate. The growth is attributed to rising demand for packaging products owing to the high tensile strength of blow-molded plastic products.  Growing applications in various industries such as pharmaceuticals, food, beverages, etc. are contributing to the market growth.                                      

Market Dynamics                                            

Growth Drivers

Growing Demand from Various End Users

Growing demand of blow-molded plastics from various end users is driving the growth of the market.  The increase in consumption of packaged food and beverages due to rapid urbanization and improvement in lifestyle has induced the demand of plastic packaging products. Rising use of blow-molded plastics in the medical industry for packaging of syringes, sanitizers, disinfectants, and other pharmaceutical products along with growing applications in construction, transport and automotive, electronics to reduce operational costs is also boosting the growth of Blow Molded Plastics market.

Rising Need for Packaging Alternatives and Advancements in Technology

Plastic packaging is a great alternative to other materials like glass, rubber, metals, etc. as it is durable and does not react with the components. Also, rising demand for lightweight and stiff packaging is contributing in the growth of Blow Molded Plastics market. Furthermore, growing advancements in technology and research and development activities will boost the market owing to the rising manufacturers’ demand for such machines which can reduce operational costs, maximize flexibility and promote higher accuracy will propel the growth of Blow Molded Plastics market.

Restraint

Growing environmental awareness and concerns related to plastic waste

Consumers are becoming aware of the harmful impacts of non-recyclable plastic products which is reducing the use for plastic and promoting the use of environment-friendly products. Government has imposed ban on single-use plastics and launched regulations to curb the use of plastic products which will restrain the overall market growth of Blow Molded Plastics market.

Recent Developments

• In July 2020, RPC Group Plc was completely acquired by Berry Global, Inc. to reduce operational cost and integration in the value chain.
• In February 2020, Comar declared the establishment of a custom facility in Rancho Cucamonga, California, US.

Blow Molded Plastics Market: Key Players

• Inpress Plastics Ltd.
• Comar, LLC
• Rutland Plastics Ltd.
• Gemini Group, Inc.
• The Agri-Industrial Plastics
• Garrtech, Inc.
• Creative Blow Mold Tooling
• North American Plastics, Ltd.
• Custom-Pak
• APEX Plastics
• INEOS Group
• Berry Global, Inc.
• Dow Inc.
• LyondellBasell Industries Holdings B.V.
• The Plastic Forming Company, Inc.
• Other Prominent Players

Blow Molded Plastics: Regions

Blow Molded Plastics market is segmented based on regional analysis into five major regions: North America, Latin America, Europe, Asia Pacific and the Middle East and Africa. Asia Pacific holds the largest share in the market and is expected to grow at a significant rate during the forecast period. Rapid urbanization and increasing population has induced the demand for packaged food and other products which has largely contributed to the market growth. The region has emerged as the largest producer of blow molded plastic products with the presence of many domestic manufacturers and huge demand of consumers.

Impact of Covid-19 on Blow Molded Plastics Market

The outbreak of the coronavirus pandemic has resulted in an economic slowdown across the world. Many countries imposed strict lockdowns and travel bans to control the spread of coronavirus. Covid-19 has affected several industries and even led to shutdown of many business activities. Covid-19 had a negative impact on the Blow Molded Plastics Market due to decline in the demand from various end users and difficulty in operating the manufacturing plants.

Blow Molded Plastics is further segmented by region into:

• North America Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – United States and Canada
• Latin America Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – Mexico, Argentina, Brazil and Rest of Latin America
• Europe Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – United Kingdom, France, Germany, Italy, Spain, Belgium, Hungary, Luxembourg, Netherlands, Poland, NORDIC, Russia, Turkey and Rest of Europe
• Asia Pacific Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – India, China, South Korea, Japan, Malaysia, Indonesia, New Zealand, Australia and Rest of APAC
• Middle East and Africa Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – North Africa, Israel, GCC, South Africa and Rest of MENA

Blow Molded Plastics report also contains analysis on:

Blow Molded Plastics Segments:

• By Type 
  • Polyethylene (PE)
  • Polyethylene Terephthalate (PET)
  • Polypropylene (PP)
  • Polyvinyl Chloride (PVC)
  • Polystyrene (PS)
  • Acrylonitrile Butadiene Styrene (ABS) 
• By Technology 
  • Injection Blow Molding
  • Extrusion Blow Molding
  • Stretch Blow Molding 
• By Application
  • Packaging
  • Consumables and Electronics
  • Automotive & Transport
  • Building and Construction
  • Medical
  • Others 
• Blow Molded Plastics Market Dynamics
• Blow Molded Plastics Market Size
• Supply & Demand
• Current Trends/Issues/Challenges
• Competition & Companies Involved in the Market
• Value Chain of the Market
• Market Drivers and Restraints

Blow Molded Plastics Market Report Scope and Segmentation

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