Blow Molded Plastics Market to Reach USD 100.13 Billion by 2027; Demand for Innovative Packaging will Emerge in Favor of Market Growth, says Fortune Business Insights™
Fortune Business Insights
7 min read
Top Key Players covered are Apex Plastics (U.S.), Inpress Plastics Ltd. (UK), Garrtech, Inc. (Canada), Berry Global, Inc. (U.S.), Comar, LLC (U.S.), Rutland Plastics Ltd. (UK), The Plastic Forming Company, Inc. (U.S.), Agri-Industrial Plastics (U.S.), Creative Blow Mold Tooling (U.S.), North American Plastics, Ltd. (U.S.), INEOS Group (UK), and other players profiled in blow molded plastics market research report
Pune, Sept. 14, 2020 (GLOBE NEWSWIRE) -- The global blow molded plastics market size is projected to reach USD 100.13 billion by the end of 2027. The increasing applications of the product in the packaging industry will have a huge impact on the growth of the global market. The presence of several large scale companies in this sector will emerge in favor of the growth of the global market. According to a report published by Fortune Business Insights, titled “Blow Molded Plastics Market Size, Share & COVID-19 Impact Analysis, By Resin (Polyethylene Terephthalate (PET), Polyethylene (PE), Polypropylene (PP), Polyvinyl Chloride (PVC), Polystyrene (PS), Acrylonitrile butadiene styrene (ABS)), By Molding Method (Extrusion Blow Molding, Injection Blow Molding, Stretch Blow Molding, Rotational Blow Molding), By Application, and Regional Forecast, 2020-2027,” the market was worth USD 77.07 billion in 2019 and will exhibit a CAGR of 2.8% during the forecast period, 2020-2027.
Blow molding is a cost-effective way of manufacturing plastics wherein a heated plastic is molded into a cavity that eventually forms a hollow material or object. The high efficiency of this product, coupled with its low cost, makes it a preferred choice among manufacturers.
The massive investments in upgrading manufacturing methods and increasing efforts in product R&D will have a huge impact on the growth of the overall market in the coming years. The presence of several large scale manufacturers across the world, driven by the rising demand and applications of the product will bode well for the growth of the market in the coming years. Additionally, the increasing applications of blow-molded plastics across diverse industry verticals will create several growth opportunities.
Although Product Demand is High, Covid-19 Pandemic to affect Manufacturing Sectors
The recent coronavirus outbreak has created a sense of panic across the world. Although the impact on the pandemic on the blow moulded plastics is nowhere close to what a few other industries have witnessed, there are still a few drawbacks. The efforts taken to curb the spread of the disease have had a negative impact on the market in recent years.
Accounting to the rapid spread of the disease, manufacturing sectors have been shut down due to lack of manpower and human labor. As a result, there is a huge demand-supply gap in the global market. The slow recovery rate will affect the growth of the market in the foreseeable future.
Company Mergers and Acquisitions are an Increasing Trend Among Major Companies Across the world
The report encompasses several factors that have contributed to the growth of the overall market in recent years. Accounting to the massive demand and increasing applications of blow-molded plastics across the world, companies are focusing on adopting strategies that will help them standout in the competitive environment.
In June 2020, Alpha announced that it has completed the acquisition of Bopla S.A. Alpha’s packaging solutions will be enhanced by Bopla’s blow molded and injection solutions. The latter holds an exceptional portfolio in the blow molding segment and this acquisition will not just help Alpha grow but will also influence the growth of the overall blow molded plastics market in the foreseeable future. The report highlights a few other company mergers of recent times and discusses their impact on the global market.
Asia Pacific to Emerge Dominant; Demand for Innovative Packaging Solutions to Emerge in Favor of Market Growth
The report analyses the ongoing market trends across five major regions, including North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa. Among all regions, the market in Asia Pacific is projected to emerge dominant in the coming years. The rising demand for blow molded plastics in this region is consequential to the increasing applications in the food and beverage industry. The product is widely used as a packaging material in several other industries across this region.
The increasing population in countries such as India and China will cater to the increasing production capacities of manufacturers in this sector. As of 2019, the market in Asia Pacific was worth USD 37.96 million and this value is projected to rise at a considerable pace in the coming years.
List of the Leading Companies Profiled in the Global Blow Molded Plastics Market Report are:
January 2020: Comar announced that it has completed the acquisition of iMARK Molding. The former is a supplier of rigid plastic packaging for food & beverages, medical, and and electronics acquired.
Detailed Table of Content:
Introduction
Research Scope
Market Segmentation
Research Methodology
Definitions and Assumptions
Executive Summary
Market Dynamics
Market Drivers
Market Restraints
Market Opportunities
Emerging Trends
Key Insights
Overview of the Parent/Related Markets
Industry SWOT Analysis
Regulatory Analysis
Recent Industry DevelopHouseholdts - Policies, Partnerships, New Product Launches, and Mergers & Acquisitions
Qualitative Insights- Impact of COVID-19 on Market
Supply Chain Challenges
Steps Taken by Companies/ Association to counter the impact
Future Outlook
Global Blow molded plastics Market Analysis, Insights and Forecast, 2016-2027
Key Findings / Summary
Market Analysis, Insights and Forecast – By Resins (By Value & Volume)
Polyethylene Terephthalate (PET)
Polyethylene (PE)
Polypropylene (PP)
Polyvinyl Chloride (PVC)
Polystyrene (PS)
Acrylonitrile butadiene styrene (ABS)
Others (Polycarbonate, Polyamide, etc.)
Market Analysis, Insights and Forecast – By Molding Method
Extrusion Blow Molding
Injection Blow Molding
Stretch Blow Molding
Rotational Blow Molding
Others (reaction, compression transfer, etc.)
Market Analysis, Insights and Forecast – By Application
Transportation
Packaging
Building & Construction
Electrical & Electronics
Consumer products
Others (medical, marine, etc.)
Market Analysis, Insights and Forecast – By Region
Plastic Compounding Market Size, Share & Industry Analysis, By Type (Polyethylene, Polypropylene, Poly Vinyl Chloride, Polystyrene, Polyethylene, Polybutylene Terephthalate, Polyamide, Polycarbonate, Acrylonitrile Butadiene Styrene, and Others), By Application, and Regional Forecast, 2019-2026
Plastic Container Market Size, Share & Industry Analysis, By Material (PET, PP, HDPE, LDPE, and Others), By Container Type (Bottle & Jars, Pails, Tubs, Cups & Bowls, and Others), By End-Use (Beverages, Food, Pharmaceuticals & Cosmetics, FMCG, and Others), and Regional Forecast, 2019-2026
Plastics Market Size, Share & Industry Analysis, By Type (Polyethylene, Polypropylene, Polyethylene Terephthalate, Polyvinyl Chloride, Acrylonitrile Butadiene Styrene, Polyamide, Polycarbonate, Polyurethane, Polystyrene), By End-Use Industry (Packaging, Automotive & Transportation, Infrastructure & Construction, Consumer Goods/Lifestyle, Healthcare & Pharmaceutical, Electrical & Electronics, Textile), and Regional Forecast, 2019-2026
Injection Molded Plastics Market Size, Share & Industry Analysis, By Resin (Polypropylene (PP), Acrylonitrile butadiene styrene (ABS), High-density polyethylene (HDPE), Polystyrene (PS), and Others), By Application (Automotive, Packaging, Building & Construction, Electrical & Electronics, Medical, and Others), and Regional Forecast, 2019-2026
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