Blow Molded Plastics Market Trends and Forecast to 2028

Blow Molded Plastics Industry Overview

The global blow molded plastics market size was valued at USD 75.7 billion in 2020 and is expected to grow at a compound annual growth rate (CAGR) of 3.3% from 2021 to 2028.

 

Growing demand from the key application sectors including construction, automotive, and packaging, particularly in BRICS (Brazil, Russia, India, China, and South Africa), is expected to drive the market over the forecast period. Amid the global Covid-19 pandemic, the demand for various pharmaceutical products, disinfectants, and sanitizers has increased. This, in turn, is driving the demand for blow molded plastics in medical applications. The segment is expected to grow at a higher rate than the consumables & electronics and building & construction segments.

 

There has been a surge of capacity addition in high-growth regions, such as the Middle East and Asia Pacific, over the last few years. These regions are creating a consistent demand for these types of plastics in addition to helping in reducing the overall manufacturing cost.

 

Gather more insights about the market drivers, restrains and growth of the Global Blow Molded Plastics Market

 

Manufacturers are demanding machines that can deliver higher accuracy, greater cost efficiency, and maximum flexibility to offset the significantly rising cost of production from several demanding application sectors, such as packaging, automobile, medical, electronics, and construction.

 

The market in Europe is expected to witness slow growth owing to various factors, such as stalled industrial output caused by the Covid-19 pandemic, rising unemployment, and debt crisis. However, a positive scenario across Eastern Europe, in terms of consumerism and manufacturing, is expected to drive the market.

 

Furthermore, the regional market is characterized by the presence of various stringent environmental regulations imposed by regulatory bodies, such as the European Chemicals Agency (ECHA) and European Commission among other federal-level agencies.

 

Browse through Grand View Research’s Plastics, Polymers & Resins Industry Research Reports.

• North America Blow Molded Plastics Market – North America blow molded plastics market size was valued at USD 3.52 billion in 2016, growing at a CAGR of 4.3% over the forecast period. Blow molding is a manufacturing process used to create hollow plastic parts such as containers, bottles, plastic drums, and storage tanks in the desired shape.
• Acrylonitrile Butadiene Styrene (ABS) Market – The global acrylonitrile butadiene styrene (ABS) market size was estimated at USD 23.09 billion in 2016 and it is projected to witness a CAGR of 7.1% over the forecast period. Considering the lightweight properties of ABS, which aids in high fuel efficiency, demand for the same is likely to increase in the automotive industry.

 

Blow Molded Plastics Market Segmentation

Grand View Research has segmented the global blow molded plastics market on the basis of product, technology, application, and region:

 

• Blow Molded Plastics Product Outlook (Volume, Kilotons; Revenue, USD Million, 2016 – 2028)
• Polypropylene (PP)
• Acrylonitrile Butadiene Styrene (ABS)
• Polyethylene (PE)
• Polystyrene (PS)
• Polyvinyl Chloride (PVC)
• Polyethylene Terephthalate (PET)
• Others

 

• Blow Molded Plastics Technology Outlook (Volume, Kilotons; Revenue, USD Million, 2016 – 2028)
  • Extrusion
  • Injection
  • Stretch
  • Compound

 

• Blow Molded Plastics Application Outlook (Volume, Kilotons; Revenue, USD Million, 2016 – 2028)
  • Packaging
  • Consumables & Electronics
  • Automotive & Transport
    • HVAC Ducts
    • Air Intake Ducts
    • Others
  • Building & Construction
  • Medical
  • Others

 

• Blow Molded Plastics Regional Outlook (Volume, Kilotons; Revenue, USD Million, 2016 – 2028)
• North America
• Europe
• Asia Pacific
• Central & South America
• Middle East and Africa

 

Market Share Insights

• July 2020: Berry Global, Inc. completed the acquisition of RPC Group Plc (“RPC”) to reduce the operational cost and integration in the value chain.
• November 2018: Krones, which is a filling and packaging equipment manufacturer, also includes blow molded machines acquired MHT Holding AG, a mold and hot runner supplier for PET performs, based in Germany. This procurement was done to enlarge company & rsquo’s PET value chain to meet the increasing demand from customers.

 

Key Companies profiled:

Some prominent players in the global blow molded plastics market include

• Magna International, Inc.
• International Automotive Components (IAC) Group
• Inpress Plastics Ltd.
• Comar, LLC
• Rutland Plastics Ltd.
• Gemini Group, Inc.
• The Plastic Forming Company, Inc.
• 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.

 

Order a free sample PDF of the Blow Molded Plastics Market Intelligence Study, published by Grand View Research.

 

About Grand View Research

Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.