The global Blow Molded Plastics market size is expected to be worth around US$ 98.7 billion by 2030, according to a new report by Vision Research Reports.
The global Blow Molded Plastics market size was valued at US$ 75.7 billion in 2020 and is anticipated to grow at a CAGR of 3.8% during forecast period 2021 to 2030.
The global industry is expected to witness significant growth over the forecast period owing to increasing product demand from various application industries. In the past few years, there has been a significant growth in technologies and equipment for manufacturing these plastics, which has enabled manufacturers to cater to specific requirements of several application industries, such as automotive, building & construction, packaging, and others.
Polyethylene Terephthalate(PET) has several applications in the packaging industry including in manufacturing bottles intended for the packaging of food & beverage products. This is expected to drive its demand over the forecast period. During the Covid-19 pandemic, the demand for Polypropylene (PP) and PET is expected to grow on account of the increased usage of face masks, protective gowns, and packaging bottles for hand sanitizers.
Extrusion blow molded plastics was the largest and the fastest-growing technology segment in 2020. This technology is a revolutionary form of the blow molding process. One of the main advantages of this process is that it enables the manufacturers to increase output along with the efficiency of providing customized products. Moreover, lower mold cost as compared to other processes makes it a cost-effective technology.
The extrusion blow molding technology segment led the market and accounted for a 37.0% share of the global revenue in 2020. The extrusion process is comparatively cheaper than other processes and hence majorly utilized in bulk manufacturing of packaging products, bottles, and cans.
The cost of extrusion blow mold is lower than the injection blow mold due to the lower pressure requirement in the former. The machinery costs are also lower for the extrusion process, which is an added advantage. Moreover, molding of external threads is easy and cheap with this process. Hence, it is also expected to be the fastest-growing technology segment over the forecast period.
Injection blow molding offers the advantage to manufacture more complex products in several designs and shapes that otherwise would be impossible or difficult with other technologies and the cost of the end products would be considerably higher as well. This process enables companies to increase their production output in a relatively shorter time along with flexibility, in terms of design and materials that can be used. However, heavy machinery design, which occupies greater space, and high costs associated with it may hinder the segment growth.
Stretch blow molding technology is used for the production of high-clarity and -quality bottles and has limited use in the industry. The demand for compound blow molding technique is majorly driven by the automobile industry as this is used for manufacturing extremely high-performance customized auto components. The rising need for lightweight specialized auto parts in both the OEM and aftermarkets is estimated to steer future demand.
The Polyethylene (PE) product segment led the market and accounted for more than 20.0% share of the global revenue in 2020. This significant share is attributed to the increased use of PE compounds in the packaging and electrical & electronics industries. Major applications of PE compounds include different grades of bottles used for packaging a wide range of products, such as food and chemical products.
Apart from the packaging industry, construction is one of the leading applications for PE compounds. Polyethylene is used for prototype development on Computer Numerical Control (CNC) machines and 3D printers. High-density Polyethylene (HDPE) offers easy processing at low cost, a good moisture barrier, and holds the ability to produce opaque and hollow packaging products. Low-density Polyethylene (LDPE) is often preferred, based on the field of application, due to low cost of production, heat-seal ability, high clarity, high elongation, and softness.
The demand for Polyethylene Terephthalate (PET) in packaging is expected to gain traction over the forecast period. Recent developments in PET bottle disposal and recycling have offset the limitations caused by regulations. Moreover, the development of bio-based PET is expected to provide the much-needed scope for internal substitution, thereby driving its demand in various applications. It is widely used in the plastic bottling of soft drinks and for specialty bottling, such as bottling of beer. It is an ideal material for flexible food packaging and thermal insulation owing to some of its properties. It is also often used as a substrate in thin-film solar cells.
The packaging application segment led the market and accounted for more than 39% share of the global revenue in 2020 owing to increased use of packaging products as a result of high consumerism in emerging economies. The packaging industry is driven by the rising demand for personal protective kits, face masks, face shields, and others along with high consumerism in emerging economies. The growth of the packaging industry is projected to boost the demand for plastic compounds, such as PE and PET in the future.
Various regulatory bodies have stipulated guidelines regarding packaging materials in food contact applications. Bisphenol A (BPA), which is often employed to produce and, has been under great regulatory scrutiny, particularly due to its presence in plastics used in packagings, such as PVC and polycarbonate. Polypropylene (PP) is primarily used in flexible packaging of certain food & confectionery items, clothing, tobacco, and others.
Apart from flexible packaging, it has vivid use in the rigid packaging of PP bottles for mineral water and edible oil. It is also used in automotive, consumer products, such as housewares, furniture, appliances, luggage, and other applications. Many automobile manufacturers prefer plastic vehicle parts, which help achieve low-cost production and increase the bottom-line profit margin of the companies.
Sales of these goods are highly dependent on the buying habits of the consumer and hence directly affect the overall market dynamics. Growing population, economic development, and improved purchasing power in the emerging markets are likely to boost the sales of consumer goods, thereby propelling the market growth.
Asia Pacific dominated the market and accounted for over 33.0% share of the global revenue in 2020. A favorable economic situation and the emergence of several domestic manufacturers with sound technological capabilities at lower costs as compared to the mature economies in Europe and North America have assisted in the development of the regional market over the past few years. China, which is a major manufacturing hub, has witnessed tremendous growth of the end-use sectors that consume blow-molded plastic compounds. This factor is also supporting the APAC market growth.
The market in North America is expected to witness slow growth as the cross-border trade among the economies got affected on account of the Covid-19 pandemic. The market is primarily driven by the rising demand for PP and ABS in the packaging application segment for manufacturing bottles, face masks, and face shields among others.
The product demand in various application segments, including packaging, consumables & electronics, automotive & transportation, building & construction, and medical, is expected to grow after the pandemic. The North America region is one of the largest consumers of plastics owing to the high product demand from the automotive, packaging, and construction sectors.
Magna International, Inc.
International Automotive Components (IAC) Group
Inpress Plastics Ltd.
Rutland Plastics Ltd.
Gemini Group, Inc.
The Plastic Forming Company, Inc.
Creative Blow Mold Tooling
North American Plastics, Ltd.
Berry Global, Inc.
LyondellBasell Industries Holdings B.V.
Acrylonitrile Butadiene Styrene (ABS)
Polyvinyl Chloride (PVC)
Polyethylene Terephthalate (PET)
Extrusion Blow Molding
Injection Blow Molding
Stretch Blow Molding
Compound Blow Molding
Consumables & Electronics
Automotive & Transport
Air Intake Ducts
Building & Construction
Central & South America
Middle East & Africa
The Blow Molded Plastics market research report covers definition, classification, product classification, product application, development trend, product technology, competitive landscape, industrial chain structure, industry overview, national policy and planning analysis of the industry, the latest dynamic analysis, etc., and also includes major. The study includes drivers and restraints of the global market. It covers the impact of these drivers and restraints on the demand during the forecast period. The report also highlights opportunities in the market at the global level.
The report provides size (in terms of volume and value) of Blow Molded Plastics market for the base year 2020 and the forecast between 2021 and 2030. Market numbers have been estimated based on form and application. Market size and forecast for each application segment have been provided for the global and regional market.
This report focuses on the global Blow Molded Plastics market status, future forecast, growth opportunity, key market and key players. The study objectives are to present the Blow Molded Plastics market development in United States, Europe and China.
It is pertinent to consider that in a volatile global economy, we haven’t just conducted Blow Molded Plastics market forecasts in terms of CAGR, but also studied the market based on key parameters, including Year-on-Year (Y-o-Y) growth, to comprehend the certainty of the market and to find and present the lucrative opportunities in market.
In terms of production side, this report researches the Blow Molded Plastics capacity, production, value, ex-factory price, growth rate, market share for major manufacturers, regions (or countries) and type.
In terms of consumption side, this report focuses on the consumption of Blow Molded Plastics by regions (countries) and application.
Buyers of the report will have access to verified market figures, including global market size in terms of revenue and volume. As part of production analysis, the authors of the report have provided reliable estimations and calculations for global revenue and volume by Type segment of the global Blow Molded Plastics market. These figures have been provided in terms of both revenue and volume for the period 2017 to 2030. Additionally, the report provides accurate figures for production by region in terms of revenue as well as volume for the same period. The report also includes production capacity statistics for the same period.
With regard to production bases and technologies, the research in this report covers the production time, base distribution, technical parameters, research and development trends, technology sources, and sources of raw materials of major Blow Molded Plastics market companies.
Regarding the analysis of the industry chain, the research of this report covers the raw materials and equipment of Blow Molded Plastics market upstream, downstream customers, marketing channels, industry development trends and investment strategy recommendations. The more specific analysis also includes the main application areas of market and consumption, major regions and Consumption, major Chinese producers, distributors, raw material suppliers, equipment providers and their contact information, industry chain relationship analysis.
The research in this report also includes product parameters, production process, cost structure, and data information classified by region, technology and application. Finally, the paper model new project SWOT analysis and investment feasibility study of the case model.
Overall, this is an in-depth research report specifically for the Blow Molded Plastics industry. The research center uses an objective and fair way to conduct an in-depth analysis of the development trend of the industry, providing support and evidence for customer competition analysis, development planning, and investment decision-making. In the course of operation, the project has received support and assistance from technicians and marketing personnel in various links of the industry chain.
The Blow Molded Plastics market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to Blow Molded Plastics market.
Prominent players in the market are predicted to face tough competition from the new entrants. However, some of the key players are targeting to acquire the startup companies in order to maintain their dominance in the global market. For a detailed analysis of key companies, their strengths, weaknesses, threats, and opportunities are measured in the report by using industry-standard tools such as the SWOT analysis. Regional coverage of key companies is covered in the report to measure their dominance. Key manufacturers of Blow Molded Plastics market are focusing on introducing new products to meet the needs of the patrons. The feasibility of new products is also measured by using industry-standard tools.
Key companies are increasing their investments in research and development activities for the discovery of new products. There has also been a rise in the government funding for the introduction of new Blow Molded Plastics market. These factors have benefited the growth of the global market for Blow Molded Plastics. Going forward, key companies are predicted to benefit from the new product launches and the adoption of technological advancements. Technical advancements have benefited many industries and the global industry is not an exception.
New product launches and the expansion of already existing business are predicted to benefit the key players in maintaining their dominance in the global market for Blow Molded Plastics. The global market is segmented on the basis of region, application, en-users and product type. Based on region, the market is divided into North America, Europe, Asia-Pacific, Latin America and Middle East and Africa (MEA).
In this study, the years considered to estimate the market size of Blow Molded Plastics are as follows:
Reasons to Purchase this Report:
- Market segmentation analysis including qualitative and quantitative research incorporating the impact of economic and policy aspects
- Regional and country level analysis integrating the demand and supply forces that are influencing the growth of the market.
- Market value USD Million and volume Units Million data for each segment and sub-segment
- Competitive landscape involving the market share of major players, along with the new projects and strategies adopted by players in the past five years
- Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players
In-depth interviews and discussions were conducted with several key market participants and opinion leaders to compile the research report.
This research study involved the extensive usage of both primary and secondary data sources. The research process involved the study of various factors affecting the industry, including the government policy, market environment, competitive landscape, historical data, present trends in the market, technological innovation, upcoming technologies and the technical progress in related industry, and market risks, opportunities, market barriers and challenges. The following illustrative figure shows the market research methodology applied in this report.
Market Size Estimation
Top-down and bottom-up approaches are used to estimate and validate the global market size for company, regional division, product type and application (end users).
The market estimations in this report are based on the selling price (excluding any discounts provided by the manufacturer, distributor, wholesaler or traders). Market share analysis, assigned to each of the segments and regions are achieved through product utilization rate and average selling price.
Major manufacturers & their revenues, percentage splits, market shares, growth rates and breakdowns of the product markets are determined through secondary sources and verified through the primary sources.
All possible factors that influence the markets included in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data. The market size for top-level markets and sub-segments is normalized, and the effect of inflation, economic downturns, and regulatory & policy changes or others factors are accounted for in the market forecast. This data is combined and added with detailed inputs and analysis from Vision Research Reports and presented in this report.
Market Breakdown and Data Triangulation
After complete market engineering with calculations for market statistics; market size estimations; market forecasting; market breakdown; and data triangulation. Extensive primary research was conducted to gather information and verify and validate the critical numbers arrived at. In the complete market engineering process, both top-down and bottom-up approaches were extensively used, along with several data triangulation methods, to perform market estimation and market forecasting for the overall market segments and sub-segments listed in this report.
Secondary Sources occupies approximately 25% of data sources, such as press releases, annual reports, Non-Profit organizations, industry associations, governmental agencies and customs data, and so on. This research study includes secondary sources; directories; databases such as Bloomberg Business, Wind Info, Hoovers, Factiva (Dow Jones & Company), TRADING ECONOMICS, and avention; Investing News Network; statista; Federal Reserve Economic Data; annual reports; investor presentations; and SEC filings of companies.
In the primary research process, various sources from both the supply and demand sides were interviewed to obtain qualitative and quantitative information for this report. The primary sources from the supply side include product manufacturers (and their competitors), opinion leaders, industry experts, research institutions, distributors, dealer and traders, as well as the raw materials suppliers and producers, etc.
The primary sources from the demand side include industry experts such as business leaders, marketing and sales directors, technology and innovation directors, supply chain executive, end users (product buyers), and related key executives from various key companies and organizations operating in the global market.
The study objectives of this report are:
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