Global Blow Molded Plastics Market by Application (Automotive & Transport, Packaging), by Technology (Extrusion, Injection), by Product (PVC, ABS, PE, PP) and Region (North America, Latin America, Europe, Asia Pacific and Middle East & Africa), Forecast To 2028

Summary of the Report

Global blow molded plastics market was valued at USD 75.7 million in 2020. It is projected to grow at a compound annual rate (CAGR of 3.3%) between 2021 and 2028. The market is expected to grow due to increased demand from key applications such as construction, automotive and packaging, especially in BRICS (Brazil Russia, India China and South Africa). The demand for pharmaceutical products, disinfectants, sanitizers, has increased in the wake of the Covid-19 pandemic. This is driving demand for blow-molded plastics for medical applications. This segment is expected to grow faster than the building & construction and consumables electronics segments.

Over the past few years, there has been an increase in capacity addition in high growth regions like the Middle East and Asia Pacific. These regions have a steady demand for plastics and help to reduce the overall manufacturing cost.

Manufacturers demand machines that are more accurate, cost efficient, and flexible to meet the rising production costs in a variety of demanding applications, including packaging, construction, medical, electronics, and electronic components.

Due to a variety of factors such as the Covid-19 pandemic and rising unemployment, Europe's market is likely to experience slow growth. The market is expected to be driven by a positive outlook in Eastern Europe in terms of manufacturing and consumerism.

The regional market is also characterized by strict environmental regulations, such as those imposed by federal agencies like the European Chemicals Agency (ECHA), European Commission, and others.

Technology Insights

The market leader in extrusion blow molding technology accounted for 37.0% of global revenue in 2020. Extrusion is relatively cheaper than other processes, so it is widely used in bulk production of packaging products, cans, and bottles.

Because of the lower pressure required in the former, extrusion blow mould costs are lower than injection blow mold. Extrusion also has a lower machinery cost, which is a plus. This process also makes molding external threads easy and inexpensive. It is expected to be the fastest-growing technology sector over the forecast period.

Injection blow molding allows for the production of more complicated products in a variety of designs and shapes. However, the price of the final products will be significantly higher. Companies can increase their production output by using injection blow molding in a shorter amount of time and have greater flexibility in the design and materials they can use. The segment's growth may be hindered by heavy machinery design which takes up more space and is expensive.

The stretch blow molding technology is used to produce high-quality, clear bottles. It has been limited in use. Because compound blow molding is used to produce high-performance, customized components for automobiles, the automotive industry is driving demand. Future demand is expected to be driven by the increasing demand for lightweight, specialized parts for both OEM and aftermarket markets.

Product Insights

The market leader in polyethylene (PE), accounted for over 20.0% of global revenue in 2020. This large share can be attributed to the increasing use of PE compounds within the packaging and electrical and electronics industries. The main uses of PE compounds are in packaging different types of products such as chemical and food products.

Construction is another major use for PE compounds, along with the packaging industry. For prototype development using Computer Numerical Control (CNC), machines and 3D printers, polyethylene is used. HDPE (High-density Polyethylene) is easy to process, has a high moisture barrier, and can be used to make opaque and hollow packaging products. Low-density Polyethylene is preferred, depending on the application field, because of its low cost of production and heat-sealability, high clarity, high elongation and softness.

Over the forecast period, Polyethylene Terephthalate's (PET), packaging demand is expected to increase. Recent advances in PET bottle recycling and disposal have overcome the restrictions imposed by regulations. Bio-based PET will allow for internal substitution and is expected to drive demand in many applications. It is used extensively in plastic bottling for soft drinks, as well as specialty bottling such as beer bottling. Because of some of its properties, it is ideal for flexible food packaging or thermal insulation. It is often used as a substrate for thin-film solar cell.

Application Insights

The market leader in packaging applications was 39%. This is due to the increased consumption of packaging products in emerging economies. The rising demand for face masks, shields, and other personal protection products is driving the packaging industry. Future growth in the packaging industry will drive demand for plastic compounds such as PET and PE.

Different regulatory bodies have established guidelines for packaging materials used in food contact applications. BPA (bisphenol A) is a common ingredient in the production of plastics and epoxy resins. It has been subject to intense regulatory scrutiny due to its presence within plastics such as polycarbonate and PVC. Flexible packaging is where polypropylene (PP), which is used primarily for certain food and confectionery items, as well as clothing and tobacco.

It is also used in flexible packaging. It can also be used in consumer products such as automotive and household goods, including furniture, appliances, luggage, housewares, and other applications. Plastic vehicle parts are preferred by many automobile manufacturers. They allow for low production costs and help increase the company's bottom line profit margin.

These goods' sales are heavily dependent on consumer buying habits and therefore directly impact the market dynamics. Market growth will be driven by a growing population, economic development, and better purchasing power in emerging markets.

Regional Insights

Asia Pacific was the dominant market, accounting for more than 33.0% of global revenue in 2020. The development of the region's market has been aided by a favorable economic environment and the emergence many domestic manufacturers with solid technological capabilities and lower costs than the mature economies of North America and Europe. China is a major manufacturing center and has seen a tremendous increase in the number of end-use industries that use blow-molded plastic compounds. This is also a factor that supports the APAC market growth.

As a result of the Covid-19 pandemic, North American market is expected to experience slow growth. This market is driven primarily by the increasing demand for PP/ABS in the packaging segment, including bottles, masks, and shields.

After the pandemic, there will be an increase in product demand for various segments such as packaging, consumables and electronics, automotive, building & construction, medical, and transportation. Due to high demand in the construction, automotive and packaging sectors, North America is the largest consumer of plastics.

Market Share Insights & Key Companies

To maintain product quality and increase their market presence, many of the major players in the market have merged their raw material production with distribution. Companies gain a competitive edge through cost savings, which increases profit margins. To meet changing end-user demands, companies are engaging in R&D to develop industrial plastics. Companies are also looking at mergers and acquisitions to increase their geographic presence. Berry Global, Inc. acquired RPC Group Plc ("RPC") in July 2020 to lower its operational costs and integrate the value chain. The global blow-molded plastics market is dominated by several multinationals.

• Magna International, Inc.

• International Automotive Components (IAC), Group

• Inpress Plastics Ltd.

• Comar, LLC

• 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.

Up Market Research published a new report titled “Blow Molded Plastics Market research report which is segmented by Application (Automotive & Transport, Packaging), by Technology (Extrusion, Injection), by Product (PVC, ABS, PE, PP), By Players/Companies Inc, LLC, Agri – Industrial Plastics Company, The Plastic Forming Company, Rutland Plastics Ltd, Inpress Plastics Ltd, Pet All Manufacturing Inc, Magna International Inc, IAC Group, Berry Global Inc, Comar”. As per the study the market is expected to grow at a CAGR of XX% in the forecast period.

Report Scope

The report covers comprehensive data on emerging trends, market drivers, growth opportunities, and restraints that can change the market dynamics of the industry. It provides an in-depth analysis of the market segments which include products, applications, and competitor analysis.

Global Blow Molded Plastics Market Report Segments:

The market is segmented by Application (Automotive & Transport, Packaging), by Technology (Extrusion, Injection), by Product (PVC, ABS, PE, PP).

Blow Molded Plastics Market research report delivers a close watch on leading competitors with strategic analysis, micro and macro market trend and scenarios, pricing analysis and a holistic overview of the market situations in the forecast period. It is a professional and a detailed report focusing on primary and secondary drivers, market share, leading segments and geographical analysis. Further, key players, major collaborations, merger & acquisitions along with trending innovation and business policies are reviewed in the report.

Key Benefits for Industry Participants & Stakeholders:

• Industry drivers, restraints, and opportunities covered in the study
• Neutral perspective on the market performance
• Recent industry trends and developments
• Competitive landscape & strategies of key players
• Potential & niche segments and regions exhibiting promising growth covered
• Historical, current, and projected market size, in terms of value
• In-depth analysis of the Blow Molded Plastics Market

Overview of the regional outlook of the Blow Molded Plastics Market:

Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa (MEA). North America region is further bifurcated into countries such as U.S., and Canada. The Europe region is further categorized into U.K., France, Germany, Italy, Spain, Russia, and Rest of Europe. Asia Pacific is further segmented into China, Japan, South Korea, India, Australia, South East Asia, and Rest of Asia Pacific. Latin America region is further segmented into Brazil, Mexico, and Rest of Latin America, and the MEA region is further divided into GCC, Turkey, South Africa, and Rest of MEA.

Highlights of The Blow Molded Plastics Market Report:

1. The market structure and projections for the coming years.
2. Drivers, restraints, opportunities, and current trends of Blow Molded Plastics Market.
3. Historical data and forecast.
4. Estimations for the forecast period 2028.
5. Developments and trends in the market.

                1. Automotive & Transport

                2. Packaging

                1. Extrusion

                2. Injection

                1. PVC

                2. ABS

                3. PE

                4. PP

9. Market scenario by region, sub-region, and country.
10. Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
11. Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
12. Government Policies, Macro & Micro economic factors are also included in the report.

We have studied the Blow Molded Plastics Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2028.

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• Correctly Positioning New Products
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Reasons to Purchase the Blow Molded Plastics Market Report:

• The report includes a plethora of information such as market dynamics scenario and opportunities during the forecast period
• Segments and sub-segments include quantitative, qualitative, value (USD Million,) and volume (Units Million) data.
• Regional, sub-regional, and country level data includes the demand and supply forces along with their influence on the market.
• The competitive landscape comprises share of key players, new developments, and strategies in the last three years.
• Comprehensive companies offering products, relevant financial information, recent developments, SWOT analysis, and strategies by these players.