According to the latest report by IMARC Group, titled "Blow Molded Plastics Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027," the global blow molded plastics market is expected to grow at a CAGR of 3.5% during 2022-2027. Blow molded plastics are generally used in the manufacturing of hollow plastic products. They usually comprise intricate and complex shapes that are produced by blowing or inflating a thermoplastic molten tube. They include various products, such as bottles, automotive fuel tanks, machine parts, trash containers and gallon drums, that commonly exhibit superior strength and thermal resistance properties. In comparison to metal-based packaging, these products are lighter and offer excellent stiffness in a cost-efficient manner. Therefore, they are extensively utilized across fast-moving consumer goods (FMCG), food and beverages (F&B), healthcare and automotive sectors.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Global Blow Molded Plastics Market Trends:
The global market is primarily driven by the increasing demand for high-density polyethylene pipes (HDPE) for pipeline systems. Coupled with rising investments in infrastructural development projects across the globe, this is creating a positive outlook for the market. Along with this, the increasing preference for packaged food products due to the hectic lifestyles led by the masses and their shifting dietary patterns is providing an impetus to the market growth. Moreover, the widespread adoption of blow molded plastics in the packaging of medical supplies and consumer goods has created a positive outlook for the market across the globe. The market is further driven by the increasing product usage in the production of air ducts, bumper and seat backs of automobiles. Other factors, including continual improvements in the packaging and e-commerce sectors and extensive research and development activities conducted by key players to introduce improved product variants, are also projected to drive the market growth. On account of the aforementioned factors, the market is anticipated to grow at a CAGR of
3.5% during the forecast period (2022-2027).
- On the basis of the product, the market has been segmented into polypropylene (PP), acrylonitrile butadiene styrene (ABS), polyethylene (PE), polystyrene (PS), polyvinyl chloride (PVC), polyethylene terephthalate (PET) and others.
- Based on the technology, the market has been segregated into extrusion blow molding, injection blow molding, stretch blow molding, and compound blow molding.
- On the basis of the application, the market has been classified into packaging, consumables and electronics, automotive and transport, building and construction, medical and others.
- Based on the region, the market has been divided into North America (the United States and Canada), Asia-Pacific (China, Japan, India, South Korea, Australia, Indonesia and others), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia and others), Latin America (Brazil, Mexico and others) and the Middle East and Africa.
- The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market. Some of these players include Agri-Industrial Plastics, APEX Plastics, Comar LLC, Creative Blow Mold Tooling, Custom-Pak, Exxon Mobil Corporation, Garrtech Inc., Gemini Group Inc., Inpress Plastics Ltd., North American Plastics Ltd and PET ALL Manufacturing inc.
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