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 high-density polyethylene (HDPE) products has spurred the use of blow molding technologies. Key technologies include extrusion, stretching, injection blow molding and compounding. These are expected to generate significant sales of extrusion blow molded plastics in the global market by the end of 2028. Blow molded plastics have numerous material development properties that make them useful in a wide range of applications. This is one of the key suggestions that will shape the contours of the blow molded part Plastics Market.
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The blow molding process enables the manufacture of products that require high impact strength, good flow properties and excellent heat resistance. Over the years, the number of blow molding machines that allow better control of parameter properties has grown. 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 a crucial 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 the end-use industry help strengthen the supply chain of the major players in the blow molded plastics market. One such initiative was the acquisition of a major thermoplastics company by a France-based plastics supplier 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 company that specializes in engineering plastic components and modules for vehicle powertrains. The company thus consolidated – doubled – its engine business. The move is expected to gain a strong position in the global powertrain component supplier business by expanding its geographic reach. In addition to multiple manufacturing competencies, Novares also leverages the benefits of 3D suction blow molding to develop advanced blow molded plastics for use in powertrains and under-bonnet vehicle components.
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 market prospects. In the past few decades there have been significant advances in equipment and secondary machines used in blow molding. This has helped specialty plastic solution providers meet new application needs in the blow molded plastics market. The growing number of turnkey solutions has also expanded the market potential. Typically, these solutions help bring more precision and design to the performance used in blow molding processes.
The demand for low-cost technologies for cost-sensitive regions has also shaped the development of the market for blow molded plastics. Significant advances in extrusion blow molding technologies in recent years have helped meet a wide variety of plastic needs in the consumer industry, particularly in the automotive, medical, packaging, electronics, and construction industries. The expansion of storage and production capacities has also broken new ground in the market for blow molded plastics.
Global Blow Molded Plastics Market: Regional Analysis
Of the various key regions, the Asia-Pacific region and the Middle East see essentially lucrative avenues in the blow molded plastics market. Manufacturers have been keeping an eye on these options in recent years due to the low production costs. In addition, they unlock the potential of the above-mentioned emerging markets with competitive prices, especially for small custom-made products for the end-use industry.
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