Analysis of Market Growth and Retention Factors for Blow Molded Plastics 2018-2028 – NeighborWebSJ
Global Blown Plastics Market: Overview
Advances in the global blow molded plastics market have been continuously stimulated by increasing expenses for blow molding machines and advances in techniques. The global increase in the production of HDPE (high density polyethylene) products has driven the use of blow molding technologies. Key technologies include extrusion, stretching, injection blow molding and compounding. It is expected that sales of extrusion blow molded plastics will account for significant sales in the world market by the end of 2028. Blow molded plastics have numerous material development properties that make them useful for a variety of applications. This is one of the most important statements that shape the contours of the blow molded part Plastics Market.
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The manufacture of products that require high impact strength, good flow properties and excellent heat resistance has been possible with the blow molding process. Over the years, the number of blow molding machines that allow better control of parameter properties has increased. The growing demand for low cost, high quality blow molded plastics is fueling the blow molded plastics market. Some of the key materials suitable for blow molding processes are high density polyethylene, low density polyethylene, polypropylene, co-polyester, PET, PVC, nylon, EVOH and EVA.
Global Blow Molded Plastics Market: Competitive Dynamics
Mergers and acquisitions are an integral part of the competitive dynamics of the blow molded plastics market, especially in developed countries. Such strategic moves by business plastic solution providers supplying blow molded plastics to end users help strengthen the supply chain of the major players in the blow molded plastics market. One such initiative was taken by a France-based plastics supplier who acquired a major thermoplastic company that designs and manufactures blow molded plastics for OEMs in the automotive industry. This expands the potential of the blow molded plastics market.
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In early 2019, Novares announced the acquisition of Miniature Precision Components, a US-based company that specializes in engineering plastic components and modules for vehicle powertrains. The company thus consolidated – doubled – its engine business. The move is also expected to give it a stronghold in the global powertrain component supplier business by expanding its geographic reach. In addition to multiple manufacturing competencies, Novares is also leveraging the benefits of 3D suction blow molding to develop advanced blow molded plastics for powertrains and automotive components under the hood.
Some of the established players in the global blow molded plastics market are Chevron Corporation, BASF SE, Dow-DuPont, INEOS and Lyondellbasell Industries Holdings BV
Global Blow Molded Plastics Market: Growth Dynamics
The proliferation of blow molded plastic products in consumer markets in developing and industrialized countries strengthens the prospects of the market. Significant advances have been made in equipment and secondary machinery for blow molding in the past few decades. This has helped specialty plastic solution providers meet new application needs in the blow molded plastics market. More and more turnkey solutions have also expanded the potential of the market. As a rule, these solutions help to make the services used in blow molding processes more precise and more constructive.
The demand for low-cost technologies for cost-sensitive regions has also shaped the development of the blow molded plastics market. Considerable advances in extrusion blow molding technologies in recent years have helped meet the diverse needs of plastics in the end-use industry, particularly in the automotive, medical, packaging, electronics, and construction industries. The expansion of warehouse and production capacities has also opened up new avenues in the blow molded plastics market.
Global Blow Molded Plastics Market: Regional Analysis
Of the various key regions, the Asia-Pacific region and the Middle East have significant lucrative avenues in the blow molded plastics market. Manufacturers have kept an eye on these routes in recent years due to the low production costs. In addition, they leverage the potential of the above-mentioned emerging markets with competitive prices, especially for small custom-made products for end-use industries.
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