Global $ 98.7 billion of blow molded plastics (PP, ABS, PE, PVC)
Dublin, Oct 11, 2021 (GLOBE NEWSWIRE) – The report “Global Blow Molded Plastics Market 2021-2028” has been added to ResearchAndMarkets.com offer.
The global blow molded plastics market size is expected to reach USD 98.7 billion by 2028, with a CAGR of 3.3%.
The global industry is expected to experience significant growth during the forecast period owing to the increasing demand for products of various application industries.
In recent years, there has been a significant growth in the technologies and equipment for manufacturing these plastics, which has enabled manufacturers to meet the specific requirements of several application industries, such as automotive, building and construction, packaging and others.
Polyethylene terephthalate (PET) has several applications in the packaging industry, particularly in the manufacture of bottles for the packaging of food and drink products.
This should boost its demand during the forecast period. During the Covid-19 pandemic, the demand for polypropylene (PP) and PET is expected to increase due to the increased use of face masks, protective gowns and packaging bottles for hand sanitizers.
Extrusion blow molded plastics were the largest and most dynamic technology segment in 2020. This technology is a revolutionary form of the blow molding process. One of the main benefits of this process is that it allows manufacturers to increase production as well as the efficiency of delivering customized products. In addition, the lower cost of the mold compared to other processes makes it a cost effective technology.
Highlights Of The Blow Molded Plastics Market Report
- The global market was valued at USD 75.7 billion in 2020 and is expected to grow at a CAGR of 3.3% from 2021 to 2028
- Polyethylene (PE) was the most important product segment in 2020. PE compounds are mainly used in various industries and are an integral part of the packaging industry.
- Acrylonitrile Butadiene Styrene (ABS) Expected to Become the Fastest Growing Product Segment from 2021 to 2028
- This growth can be attributed to the growing demand for ABS from the automotive industry for the manufacture of housings for electrical and electronic assemblies, automotive trim components and hard helmets.
- Asia-Pacific accounted for over 33% of the overall revenue share in 2020. China dominated the market in the Asia-Pacific region
- Supportive federal regulations by agencies, such as the Environmental Protection Agency (EPA), California Air Resources Board (CARB) and Scottish Environmental Protection Agency (SEPA), regarding carbon emissions as well as EU initiatives to develop Blow molding applications for manufacturing light weight and fuel efficient cars are expected to drive global market growth
Variables, Trends and Scope of Blow Molded Plastics Market
Market lineage outlook
- Global plastics market
- Blow Molded Plastics Market
Global Blow Molding Plastics Industry Value Chain Analysis
- Commodity trends
- Manufacturing trends
- Double injection blow molding
Analysis of market drivers.
- Changing trend towards replacement of glass and metals
- Increased construction spending in emerging markets
Analysis of market restrictions
- Growing biobased polymer industry
- Magna International, Inc.
- International automotive components group
- Berry Global, Inc.
- Pet All Manufacturing, Inc.
- Inpress Plastics Ltd
- Dow chemical company
- Comar, LLC
- Rutland Plastics Ltd.
- The Plastic Forming Company, Inc
- Agro-industrial plastics
- Garrtech, Inc.
- Creative blow molding tooling
- North American Plastics, Ltd.
- Machine Center, Inc.
- Custom pack
- APEX plastics
- INEOS Group
- LyondellBasell Industries Holdings BV
- Gemini Group, Inc.
For more information on this report, visit https://www.researchandmarkets.com/r/rupqq