Global Blow Molded Plastic Market Insights Forecasts to 2030
- The global blow-molded plastic market was valued at USD 75.9 billion in 2021.
- The market is growing at a CAGR of 3.5% from 2021 to 2030
- The global blow-molded plastic market is expected to reach USD 103.4 billion by 2030
- The North America is expected to grow the fastest during the forecast period
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The global blow-molded plastic market is expected to reach USD 103.4 billion by 2030, at a CAGR of 3.5% during the forecast period 2021 to 2030. Increasing demand from major end-use industries like construction, automotive, and packaging, especially in BRICS, will likely drive the market over the next few years (Brazil, Russia, India, China, and South Africa). As a result of the worldwide Covid-19 outbreak, there has been a rise in the demand for a wide range of medicines and cleaning products. Because of this, there is a greater need for plastic blown into shape in medical applications.
A process called "blow-molding" can turn thermoplastics into hollow things that are simple, detailed, or very complicated. It is a way to make things that involve shaping and putting together hollow plastic parts. In the first step of this process, the plastic is heated to make it more flexible to be shaped into a parison. After that, the parison is put into a mold, and air is forced into it from inside the mold. Then, the air pressure pushes the plastic out of the mold in the desired shape. After the plastic has had time to cool and get stiffer, the mold will open, and the part will come out. Water passages built into the mold helps the process of cooling. The process principle was based on the idea of how glassblowing works. In 1938, the Hartford Empire Company bought the blow molding machine that Enoch Ferngren and William Kopitke had created. Blow molding plastics are often used to make bottles for industries like food and drink packaging, drug packaging, personal care packaging, home chemical packaging, and motor oil storage packaging. The need to find alternatives to traditional materials like glass, metal, wood, natural rubber, and man-made materials like concrete is driving the global market for blow-molded plastic. Plastics like olefins, polystyrene, and other plastics are quickly replacing most materials already used in the automotive, building and infrastructure, medical and healthcare, and consumer goods industries. Carbon emissions have become more of a problem because heavier metals are being replaced with lighter plastics. This is most noticeable in cars and other industrial machinery. Low-density plastics help save money on fuel and improve machines' performance, reducing carbon emissions. Because plastic makes things lighter, it is being used more and more to replace glass and metal in packaging. In the end, less carbon dioxide is being released into the air.
This research report categorizes the market for the global based blow-molded plastic market based on various segments and regions, forecasts revenue growth, and analyzes trends in each submarket. The report analyses the key growth drivers, opportunities, and challenges influencing the global blow-molded plastic market. Recent market developments and competitive strategies such as expansion, product launch and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key market players and analyses their core competencies in each global blow-molded plastic market sub-segments.
Global Blow Molded Plastic Market Report Coverage
|Market Size in 2021:||USD 75.9 billion|
|Forecast Period 2021-2030 CAGR:||3.5%|
|2030 Value Projection:||USD 103.4 billion|
|Historical Data for:||2017-2020|
|No. of Pages:||210|
|Tables, Charts & Figures:||149|
|Segments covered:||By Raw Material, By Technology Trend, By Application, By Region, COVID-19 Impact Analysis|
|Companies Covered:||Magna International Inc., International Automotive Component Group S.L., Berry Global Inc., Pet All Manufacturing Inc., Inpress Plastics Ltd., Dow, Inc., Comar, LLC, Rutland Plastics Ltd., Plastic Forming Company, Inc., Agri-Industrial Plastics, Garrtech Inc., Creative Blow Mold Tooling, North American Plastics, Ltd.|
|Pitfalls & Challenges:||COVID-19 has the potential to impact the global market|
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- In 2021, the polyethylene segment dominated the market with the largest market share of 25% and market revenue of 18.9 billion.
Based on the raw material, the blow-molded plastic market is categorized into Polypropylene, Acrylonitrile Butadiene Styrene, Polyethylene, Polystyrene, Polyvinyl Chloride, Polyethylene Terephthalate, Polyamide, and Others. In 2021, the polyethylene segment dominated the market with the largest market share of 25% and market revenue of 18.9 billion. This large percentage increase may be due to the rise in demand for PE compounds in the electrical and electronics and packaging industries. One of the most important ways PE compounds are used is to make different grades of bottles that can be used to package a wide range of things, like food and chemicals.
- In 2021, the extrusion blow molding segment accounted for the largest share of the market, with 40% and market revenue of 30.3 billion.
Based on the technology trend, the blow-molded plastic market is categorized into Extrusion Blow Molding, Injection Blow Molding, Compound Blow Molding, and Stretch Blow Molding. In 2021, extrusion blow molding dominated the market with the largest market share of 40% and market revenue of 30.3 billion. Extrusion is a much cheaper way to make bottles and cans in large quantities than other methods. Another good thing about the extrusion method is that it needs less expensive equipment than the other methods. This method also makes it easy and cheap to shape the threads outside the part. Because of this, it is expected to be the technology category with the fastest growth over the forecast period.
- In 2021, the packing segment accounted for the largest share of the market, with 32% and a market revenue of 24.2 billion.
Based on the application, the blow-molded plastic market is categorized into Packaging, Consumables and Electronics, Automotive and Transport, Building and Construction, Medical, and Others. In 2021, packing dominated the market with the largest market share of 32% and market revenue of 24.2 billion. The packaging industry is growing because of the growing demand for personal protection kits, face masks, face shields, and other similar items, as well as the high level of consumption in emerging nations. It is expected that, shortly, the growth of the packaging industry will lead to a rise in demand for plastic compounds like PE and PET.
Regional Segment Analysis of the Blow Molded Plastic Market
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- North America (U.S., Canada, Mexico)
- Europe (Germany, France, the U.K., Italy, Spain, Rest of Europe)
- Asia-Pacific (China, Japan, India, Rest of APAC)
- South America (Brazil and the Rest of South America)
- The Middle East and Africa (UAE, South Africa, Rest of MEA)
Among all regions, Asia-Pacific emerged as the largest market for the global blow molded plastic market, with a market share of around 38% and 75.9 billion of the market revenue in 2021.
- In 2021, Asia-Pacific emerged as the largest market for the global blow-molded plastic market, with a market share of around 38% and 75.9 billion of the market revenue. In the past few years, the regional market's growth has been helped by a good economy and the rise of several domestic manufacturers with good technical skills and lower prices than those in Europe and North America, where economies are more developed. These things have made it cheaper to make things in the area as a whole. China's status as a key manufacturing hub has led to a huge growth in the end-use industries that use blow-molded plastic compounds in the past few years. This is another thing that is helping the APAC market to grow.
- The North American market is expected to grow at the fastest CAGR between 2022 and 2030. The main thing driving this market's growth is the growing need for PP and ABS in the packaging industry to make bottles, face masks, and face shields, among other things. After the pandemic, it is expected that the demand for products in a wide range of industries, such as the packaging industry, the consumables and electronics industry, the automotive and transportation industry, the building and construction industry, and the medical industry, would rise. North America is one of the biggest users of plastics in the world. This is because the automotive, packaging, and building industries all need a lot of plastic products.
The report offers the appropriate analysis of the key organizations/companies involved within the global blow-molded plastic market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the companies' current news and developments, including product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market.
List of Key Market Players:
- Magna International Inc.
- International Automotive Component Group S.L.
- Berry Global Inc.
- Pet All Manufacturing Inc.
- Inpress Plastics Ltd.
- Dow, Inc.
- Comar, LLC
- Rutland Plastics Ltd.
- Plastic Forming Company, Inc.
- Agri-Industrial Plastics
- Garrtech Inc.,
- Creative Blow Mold Tooling
- North American Plastics, Ltd.
Key Target Audience
- Market Players
- Government Authorities
- Consulting And Research Firm
- Venture capitalists
- Third-party knowledge providers
- Value-Added Resellers (VARs)
- In February 2020, the INEOS Group made a deal with the Italian company Forever Plast SpA to work together. With the help of this alliance, 6.5 billion bottle caps will be turned into high-quality polymer caps over the next five years.
- In June 2020, The FEDER Fund of the European Union made the production process at International Automotive Components Group, S.L.'s facilities in Agoncillo (Logroo), Philippines, more efficient. This change was made because of the rules required it by the European Union. Two injection machines were used in these manufacturing steps to make car parts like bumpers and consoles by injection molding. This method is also called the "plastic injection molding" method.
This study forecasts revenue at global, regional, and country levels from 2019 to 2030. Spherical Insights has segmented the global blow-molded plastic market based on the below-mentioned segments:
Global Blow Molded Plastic Market, By Raw Material
- Acrylonitrile Butadiene Styrene
- Polyvinyl Chloride
- Polyethylene Terephthalate
Global Blow Molded Plastic Market, By Technology Trend
- Extrusion Blow Molding
- Injection Blow Molding
- Compound Blow Molding
- Stretch Blow Molding
Global Blow Molded Plastic Market, By Application
- Consumables and Electronics
- Automotive and Transport
- Building and Construction
Global Blow Molded Plastic Market, Regional Analysis
- North America
- The US
- Rest of Europe
- The Asia Pacific
- South Korea
- Rest of Asia Pacific
- South America
- Rest of South America
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of the Middle East & Africa
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