Pune, September 14, 2020 (GLOBE NEWSWIRE) – The global blow molded plastics market is projected to reach US $ 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 world market. The presence of several large companies in this sector will favor the growth of the world market. According to a report published by Fortune Business Insights entitled “Market Size, Share and COVID-19 Impact Analysis of Blown Plastics by Resin (Polyethylene Terephthalate (PET), Polyethylene (PE), Polypropylene (PP), Polyvinyl Chloride (PVC)), Polystyrene ( PS), Acrylonitrile Butadiene Styrene (ABS), By Molding Process (Extrusion Blow Molding, Injection Blow Molding, Stretch Blow Molding, Rotary Blow Molding), By Application, And Regional Forecast, 2020-2027, “was the 2019 $ 77.07 billion market and will have a CAGR of 2.8% over the forecast period 2020-2027.
Blow molding is an inexpensive method of making plastics in which a heated plastic is molded into a cavity that ultimately 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 the modernization of production methods and the increasing efforts in product R&D will have a massive impact on the growth of the overall market in the coming years. The presence of several large manufacturers around the world, driven by the increasing demand and applications of the product, bodes well for the growth of the market in the years to come. In addition, the increasing uses of blow molded plastics in various industries will create different growth opportunities.
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Although product demand is high, the Covid-19 pandemic will affect manufacturing
The recent coronavirus outbreak has caused panic around the world. While the pandemic’s impact on blow molded plastics is nowhere near as much as some other industries, there are still some drawbacks. Efforts to contain the spread of the disease have had a negative impact on the market in recent years.
Given the rapid spread of the disease, manufacturing sectors have been closed due to a lack of manpower and manpower. As a result, there is a huge supply-demand gap in the world market. The slow rate of recovery will affect market growth for the foreseeable future.
Business combinations and acquisitions are a growing trend among large companies around the world
The report encompasses several factors that have contributed to the overall market growth over the past several years. With the massive demand and increasing uses of blow molded plastics around the world, companies are focused on developing strategies that will help them stand out from the competition.
In June 2020, Alpha announced the completion of the acquisition of Bopla SA. Alpha’s packaging solutions are expanded to include Bopla’s blow molding and injection molding solutions. The latter has an exceptional portfolio in the blow molding area and this acquisition will not only help Alpha grow, it will also affect the growth of the entire blow molded plastics market for the foreseeable future. The report highlights some other recent corporate mergers and discusses their impact on the world market.
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Asia-Pacific is becoming more dominant; Demand for innovative packaging solutions should benefit the market growth
The report analyzes the current market trends in five main regions including North America, Latin America, Europe, Asia Pacific and the Middle East and Africa. Of all regions, the Asia-Pacific market is expected to be dominant in the years to come. The increasing demand for blow molded plastics in this region is a result of increasing applications in the food and beverage industry. The product is widely used as a packaging material in several other industries in this region.
The increasing population in countries like India and China is doing justice to the increasing production capacities of the manufacturers in this sector. In 2019, the Asia Pacific market value was $ 37.96 million and this value is expected to increase significantly in the years to come.
List of Leading Companies Profiled In Global Blow Molding Plastics Market Report Are:
- Apex Plastics (USA)
- Inpress Plastics Ltd. (Great Britain)
- Garrtech, Inc. (Canada)
- Berry Global, Inc. (USA)
- Comar, LLC (USA)
- Rutland Plastics Ltd. (Great Britain)
- The Plastic Forming Company, Inc. (USA)
- Agro-Industrial Plastics (USA)
- Creative Blow Molding Tools (USA)
- North American Plastics, Ltd. (UNITED STATES)
- INEOS Group (UK)
Browse the detailed synopsis of this research:
January 2020: Comar announces the completion of the acquisition of iMARK Molding. The former is a supplier of rigid plastic packaging for food and beverages, medicine and electronics.
Detailed table of contents:
- Scope of research
- Market segmentation
- Research methodology
- Definitions and Assumptions
- Market dynamics
- Market leader
- Market restrictions
- Market opportunities
- New trends
- Important findings
- Overview of the parent / related markets
- Industry SWOT analysis
- Regulatory analysis
- Recent Industry Budgets – Policies, Partnerships, Product Launches, and Mergers and Acquisitions
- Qualitative Insights – Effects of COVID-19 on the Market
- Challenges in the supply chain
- Steps by companies / associations to counteract the effects
- Future prospects
- Global Blow Molded Plastics Market Analysis, Insights, and Forecasts, 2016-2027
- Main results / summary
- Market Analysis, Insights and Forecasts – By Resins (By Value And 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 forecasts – according to the shaping method
- Extrusion blow molding
- Injection blow molding
- Stretch blow molding
- Rotary blow molding
- Others (reaction, compression transfer, etc.)
- Market analysis, insights and forecasts – by application
- Building & Construction
- Consumer products
- Others (medicine, marine, etc.)
- Market analysis, insights and forecasts – by region
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
Table of contents continued…!
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