Dublin, October 11, 2021 (GLOBE NEWSWIRE) – The report “Global Blow Molding Plastics Market 2021-2028” has been added ResearchAndMarkets.com to offer.
The global blow molded plastics market is projected to reach $ 98.7 billion by 2028 and grow at a CAGR of 3.3%.
Significant growth is expected for global industry in the forecast period due to increasing product demand from various application sectors.
In recent years, the technologies and equipment used to manufacture these plastics have seen significant growth, allowing manufacturers to cater to the specific needs of various application industries such as automotive, construction, packaging, and others.
Polyethylene terephthalate (PET) has several uses in the packaging industry, including in the manufacture of bottles for the packaging of food and beverage products.
This should stimulate demand in the forecast period. During the Covid-19 pandemic, the demand for polypropylene (PP) and PET is expected to increase due to the increasing use of face masks, protective gowns and packaging bottles for hand sanitizer.
Extrusion blow molded plastics were the largest and fastest growing technology segment in 2020. This technology is a revolutionary form of blow molding. One of the main advantages of this process is that it allows manufacturers to increase output while increasing the efficiency of delivering customized products. In addition, lower tooling costs compared to other methods make it a cost-effective technology.
Blow Molding Plastics Market report highlights
- The global market was estimated at $ 75.7 billion in 2020 and is expected to grow at a CAGR of 3.3% from 2021 to 2028
- Polyethylene (PE) was the largest product segment in 2020. PE compounds are used predominantly in various industries and are an essential material for the packaging industry
- Acrylonitrile Butadiene Styrene (ABS) is expected to be the fastest growing product segment from 2021 to 2028
- This growth is due to the increasing demand for ABS from the automotive industry for the manufacture of housings for electrical and electronic assemblies, vehicle trim components and headgear
- The Asia-Pacific region accounted for over 33% of total sales in 2020. China led the market in the Asia Pacific region
- Favorable federal regulations from agencies such as the Environmental Protection Agency (EPA), the California Air Resources Board (CARB), and the Scottish Environmental Protection Agency (SEPA) on carbon emissions, as well as the EU initiatives to develop blow molding applications for the manufacture of lightweight and fuel-efficient cars are likely to boost world market growth
Market variables, trends and scope for blow molded plastics
Outlook on the market line
- Global plastics market
- Blow molded plastics market
Global analysis of the value chain of the blow molding plastics industry
- Commodity trends
- Manufacturing trends
- Dual shot blow molding
Market driver analysis.
- Trend reversal towards the replacement of glass and metals
- Growing construction spending in emerging markets
Analysis of the market restrictions
- Growing industry for bio-based polymers
- Magna International, Inc.
- International Automotive Components Group
- Berry Global, Inc.
- Pet All Manufacturing, Inc.
- Inpress Plastics Ltd
- The Dow Chemical Company
- Comar, LLC
- Rutland Plastics Ltd
- The Plastic Forming Company, Inc
- Agro-industrial plastics
- Garrtech, Inc.
- Creative blow molding tools
- North American Plastics, Ltd.
- Machine Center, Inc.
- APEX plastics
- INEOS group
- LyondellBasell Industries Holdings BV
- Gemini Group, Inc.
Please visit https://www.researchandmarkets.com/r/rupqq for more information on this report