Global Blow Molding Plastics Market was valued at USD 76.45 Bn in 2019 and is expected to reach USD 98.44 Bn by 2027 at a CAGR of 3.21% over forecast period 2020-2027.
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The report covers an in-depth analysis of COVID 19 pandemic impact on Global Blow Molding Plastics Market by region and on the key players revenue affected till April 2020 and expected short term and long-term impact on the market.
Global Blow Molding Plastics Market Dynamics:
Blow molding is a plastic molding process. In this process, thermoplastic material is heated to its forming temperature below that of the plastic materials being used and a hollow tube is formed at its melting point. Various factors such as growing demand from various end user industries such as construction, automotive, and packaging in South Korea, Brazil, Russia, India, China, and South Africa, increasing demand of pharmaceutical products such as disinfectants, and sanitizers and increasing R&D expenditure by major market players are driving the blow molding plastics market growth. Manufacturers such as Dow Company, Exxon Mobil Corporation, Magna International Inc., Comar LLC and Inpress Plastics Ltd. among others are using modern and advanced blow molding machines. These machines are delivering higher accuracy, greater cost efficiency, and maximum efficiency and industry specific plastics.
However, factors such as fluctuations in raw material prices, stringent government regulations pertaining to plastics, less adoption in underpeopled countries are restraining the blow molding plastics market growth.
Global Blow Molding Plastics Market is segmented by type, by end-userand by region. By Type, polyethylene type segment held the highest market share of more than 23.56% in 2019 and is expected to keep its dominance over the forecast period owing to growing demand for polyethylene compounds in the packaging and electronics industry. The polyethylene type plastics are used in preparation of various bottles, chemical products and other in food items. Polyethylene type segment is followed by Polyethylene terephthalate segment owing to increasing research and developments on PET recycling. By end user, Packaging end user segment held more than 39.89% of market share in 2019 and is expected to keep its dominance over the forecast period owing to growing use of packaging product in emerging economies such as China, India, Japan and South Korea. Packaging end user is followed by furniture and design end user segment. Blow molding plastic products are used in various consumer product like housewares, furniture, appliances, luggage, and other applications.
By geography, APAC held the highest market share of 35.67% in 2019 and is expected to keep its dominance over the forecast period. Factors such as favourable and supportive economic and regulatory policies, increasing presence of many international market players in China, India and in ASEAN economies, rapidly expanding automotive and construction end user industries and prosperous packaging industry in this region are driving the market growth of blow molding plastics in this region. China is leading the market in this region due to presence of several domestic manufacturers with advanced technological capabilities. APAC is followed by North America and Europe. North America is expected to hold 23.45% of market share over the forecast period. Factor such as well-developed end user industries, growing demand for Polypropylene and ABS for manufacturing bottles, face masks, and face shields and presence of major market players are driving the market growth in this region.
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Global Blow Molding Plastics Market, by Type
• HDPE
• PE
• LDPE
• Polypropylene
• PVC
• PET
Global Blow Molding Plastics Market, by End-User
• Construction
• Packaging
• Automobile
• Furniture & Design
• Agriculture
• Others
Global Blow Molding Plastics Market, by Region
• North America
• APAC
• Europe
• MEA& Africa
• South Africa
Global Blow Molding Plastics Market Major Players
• Dow Company
• Exxon Mobil Corporation
• Magna International Inc.
• Berry Global Inc.
• Rutland Plastics Ltd.
• Comar LLC
• Inpress Plastics Ltd.
• The Plastic Forming Company
• International Automotive Components (IAC) Group
• 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.
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