Blow Molded Plastic Market Report Covers Future Trends With Research 2022 to 2030

United State, New York, 2022-DEC-7 — /EPR Network/The global blow molded plastic market size is was USD 75.7 billion in 2020 and expected to grow USD 97.4 billion by 2027, at a CAGR of 4.3% from 2021 to 2027. Blow molding is a manufacturing process by which a plastic tube is inflated to arrive at the desired shape, thereby creating a hollow plastic product. Different types of plastic pellets (also called granules) are used in the process. Blow-molded plastics are lightweight and easy to store and ship. Plastics have a higher cost-benefit ratio than metal and glass-based products, making them popular in various end-user industries.

The most widely used blow-molded plastics are used in the packaging industry, followed by automobile, consumables and electronics, healthcare, construction, and other sectors. Low-density polyethylene (LDPE), a type of polyethylene (PE), was one of the first plastic raw materials used for commercial production. The blow-molded plastics market has been experiencing high growth since the 1960s. Commercial machines required for large-scale production of blow-molded plastics were made available by many German companies.

Rigid bioplastic packaging generates more demand than flexible packaging. Rigid packaging is more organized with very visible applications of bioplastics. In many countries, flexible packaging based on bioplastics is limited to service packaging, retail shopping bags, and other single-use flexible film bags. The adoption of bioplastics in rigid applications has been given an impetus by major beverage manufacturers such as Coca-Cola and Heinz. Many consumer goods companies have adopted bioplastic packaging for some of their SKUs.

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Global Blow Molded Plastic Market Dynamics

Drivers: Light Weighting

Beverages and liquid products mostly contribute to the demand for blow-molded plastics. The variety and frequency of beverage product launches make it one of the highest revenue contributors to the global blow-molded plastics market. Most beverages and liquid dairy products are packaged in rigid plastic bottles.

Since the weight of rigid plastic bottles is higher than most packaging formats used for packaging, the logistics cost is higher. There has been a constant demand from F&B, pharmaceuticals, and other end-users of lightweight packaging to reduce the transportation and unit cost associated with packaging. Price is one of the major factors for the high demand for lightweight packaging.

Restraints: Growing Environmental Concerns

Greenhouse gases are the concentration of air pollution and warm atmospheric gases, among others, which is a major challenge in the blow-molding industry as GHG emissions are generated primarily due to energy consumption in the plastics processing industry. Over the last decade, there has been significant growth in the plastic-processing sector, which has increased energy consumption and associated greenhouse gas emissions. Products include containers for food, medicine, soft and carbonated drinks, household and personal care products, and others. If the production of plastic were to continue growing at the same pace, by 2025, these emissions are expected to reach one gigaton per year. The expansion of plastic production will accelerate GHG emissions.

HDPE is widely used in making household plastic and is the most common resin. Approximately 200 pounds of crude oil is used to produce 1,000 pounds of resin of HDPE. Emissions produced from production to plastic decomposition create huge amounts of plastic waste and air and land pollution.

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Opportunities: Higher Bioplastics in Rigid Packaging

Technology plays an important role in the packaging industry, with new innovative packaging technology in form, fill, and sealing. The process at each stage impacts the environment either by the packed content or the package itself. Bio-based PET has increased production capacity and is expected to replace synthetic PET in many countries (albeit slowly). Hence, bio PETs are expected to establish a significant market share over the next ten years. The application areas for rigid bioplastic packaging are expected to grow, driven by technological improvements in barrier protection of bioplastics. The packaging for milk, fruit juices, wine, and other beverages is expected to be the early adopters of rigid bioplastics.

Europe and the Americas are the major importers of bioplastics and bioplastic raw materials, with China being the major exporter. Currently, Bio-PE and Bio-PET are the most used bioplastics in rigid packaging. Some of the other bioplastics are yet to be commercialized. The new capacities of Bio-PA, Bio-PE, and Bio-PP (which is not highly commercialized) have increased their abilities mainly through plant expansion in Europe.

Scope of the Report

The study categorizes the blow-molded plastic market based on plastic, technology, and end-users at the regional and global levels.

By Plastic Outlook (Revenue, USD Million, 2017-2027)

• PET
• PE
• PP
• PVC
• Others

By Technology Outlook (Revenue, USD Million, 2017-2027)

• Extrusion Blow Molding
• Stretch Blow Molding
• Injection Blow Molding

By End-Users Outlook (Revenue, USD Million, 2017-2027)

• Residential
• Commercial
• Industrial

By Region Outlook (Revenue, USD Million, 2017-2027)

• North America (US, Canada, Mexico)
• South America (Brazil, Argentina, Colombia, Peru, Rest of Latin America)
• Europe (Germany, Italy, France, UK, Spain, Poland, Russia, Slovenia, Slovakia, Hungary, Czech Republic, Belgium, the Netherlands, Norway, Sweden, Denmark, Rest of Europe)
• Asia Pacific (China, Japan, India, South Korea, Indonesia, Malaysia, Thailand, Vietnam, Myanmar, Cambodia, the Philippines, Singapore, Australia & New Zealand, Rest of Asia Pacific)
• The Middle East & Africa (Saudi Arabia, UAE, South Africa, Northern Africa, Rest of MEA)

The PET segment is projected to account for the largest market share by plastic-type

The global blow molded plastic market is divided into PET, PE, PP, PVC, and others by plastic-type. In 2020, the solid waste segment accounted for the largest market share of 61.1% in the global blow molded plastic market. PET is a thermoplastic resin of the polyester family and is readily available in all regions. PET is mainly purchased in bulk and is used as part of stretch blow molding technology to produce large bottles. Technological innovations have reduced the amount of PET required to manufacture water or soft drink bottles. Light weighing properties of PET have also increased the application areas and helped reduce energy consumption. PET raw materials have many buyers and sellers, and the market is characterized by oversupply. Hence, vendors and brands exhibit a higher preference for PET-based plastic products. PET properties can be improved with UV blockers, colorants, oxygen barriers/scavengers, and other additives to produce a bottle with high-value addition.

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Asia Pacific accounts for the highest CAGR during the forecast period

Based on the regions, the global blow molded plastic market has been segmented across North America, Asia-Pacific, Europe, South America, and the Middle East & Africa. Globally, Asia Pacific is estimated to hold the highest CAGR in the global blow molded plastic market during the forecast period. The market in APAC is largely volume-based, with all dairy products experiencing high demand being distributed across a vast area. Countries such as Australia, Japan, China, Germany, France, the US, and Canada, are the major drivers for packaging as their spending on F&B, dairy, in particular, is relatively high. The European market could be impacted based on the outcome of Brexit.

A large section of the Chinese population has migrated from rural areas to urban areas as the country’s economy grows rapidly, giving many opportunities to the employable population. The growing middle-class realizes higher incomes, leading to huge consumer demand. The competition among brands is very high, and there is a rising demand for innovative packaging.

Key Market Players

Most of the players in the market have integrated their raw material production and distribution operations to maintain quality and expand their regional presence. This provides companies a competitive advantage in the form of cost benefits, thus increasing the profit margins. The global blow molded plastics market is largely dominated by several multinationals, which include Magna International, Inc., International Automotive Components (IAC) Group, Berry Global, Inc., Pet All Manufacturing, Inc., Inpress Plastics Ltd., Dow Inc., Comar, LLC, Rutland Plastics Ltd, The Plastic Forming Company, Inc., Agri-Industrial Plastics, Garrtech, Inc., Creative Blow Mold Tooling, North American Plastics, Ltd., Machinery Center, Inc., Custom-Pak, APEX Plastics, INEOS Group, LyondellBasell Industries Holdings B.V., ExxonMobil, Gemini Group, Inc.

Recent Developments

• In 2016, Plastipak acquired Evolve Polymers, Europe’s leading plastic recyclers, based in Hemswell, UK. This acquisition will help expand its capacity to process an additional 6-9 billion PET bottles into food-grade and other high-quality materials.
• In 2018, the Silgan Holdings company commercialized a new metal container manufacturing facility and thermoformed plastic container manufacturing facility to support continued growth in key markets.
• In 2018, Berry Global Group acquired one of the Clopay Plastic Products Company from Griffon Corporation, strengthening its position in the attractive health and hygiene markets and broadening its global supplier.
• In April 2016, Resilux and ATG reached a final agreement about transferring the 50% participation of Resilux in the joint venture Airolux. By investing in these funds, it has strengthened many upcoming projects for further growth.

Key Issues Addressed

• What is the market size by various segmentation of the blow-molded plastic by region and its respective countries?
• What are the customer buying behavior, key takeaways, and Porter’s 5 forces of the blow-molded plastic market?
• What are the key opportunities and trends for manufacturers involved in the blow-molded plastic supply chain?
• What are the fundamental dynamics (drivers, restraints, opportunities, and challenges) of the market?
• What and how regulations, schemes, patents, and policies are impacting the growth of the market?
• What are the upcoming technological solutions influencing market trends? How will existing companies adapt to the new change in technology?
• The market player positioning, top winning strategies by years, company product developments, and launches will be?
• How has COVID-19 impacted the demand and sales of blow-molded plastic in the global market? Also, the expected BPS drop or rise count of the market and market predicted recovery period.
• Detailed analysis of the competitors and their latest launch, and what are the prominent startups introduced in the target market? Also, detailed company profiling of 25+ leading and prominent companies in the market.

What is the size of the global blow molded plastic market?The global blow-molded plastic market size was estimated at USD 75.7 billion in 2020 and is expected to reach USD 97.4 billion in 2027.What is the blow-molded plastic market growth?The global blow-molded plastic market is expected to advance at a compound annual growth rate of 4.3% from 2021 to 2027.Which technology segment dominated the global blow molded plastic market?The extrusion blow molding segment generated the highest revenue of 57.3% of the global blow molded plastic market in 2020, and it is expected to register a significant CAGR from 2021 to 2027.Which region accounted for the largest blow-molded plastic market share? The Asia Pacific dominated the blow-molded plastic market and accounted for the largest revenue share of over 33.3% in 2020.Who are the key players in the blow-molded plastic market?Magna International, Inc., Berry Global, Inc., Pet All Manufacturing, Inc., Inpress Plastics Ltd., Dow Inc., International Automotive Components (IAC) Group, Comar, LLC, The Plastic Forming Company, Inc., and Garrtech, Inc. are some of the leading players in the blow-molded plastic marketWhat are the factors driving the blow-molded plastic market?Key factors driving the blow-molded plastic market growth include higher bioplastics in rigid packaging, recycling process, light-weighting, and increased demand for packaged drinking water. These factors will increase the demand for blow-molded plastic during the forecast period