Blow Molded Plastics Market Size to Surpass USD 113.85 billion to Expand at a CAGR of 4.5% | Exactitude Consultancy

Blow Molded Plastics Market

The blow-molded plastics market is being propelled forward by increased demand, eco-friendly solutions, advanced technology, and infrastructure expansion.

LUTON, BEDFORDSHIRE, UNITED KINGDOM, November 21, 2023 /EINPresswire.com/ -- The blow molded plastics market is expected to grow at 4.5% CAGR from 2023 to 2029. It is expected to reach above USD 113.85 billion by 2029 from USD 73.11 billion in 2022.

Blow molding is a manufacturing process used to produce hollow plastic parts. The process involves melting plastic resin and forming it into a parison (a hollow tube of molten plastic) which is then placed in a mold. The mold is closed, and air is blown into the parison, forcing it to take the shape of the mold. Once the plastic has cooled and solidified, the mold is opened, and the finished product is ejected. Blow molded plastics are widely used in various industries due to their versatility, cost-effectiveness, and ability to produce complex shapes. Here are some key points about blow molded plastics:

One of the primary reasons driving revenue growth in the blow molded plastics market is the increasing need for sturdy and lightweight packaging solutions across various sectors. Blow molded plastics are commonly used in the packaging industry to manufacture lightweight, robust, and easy-to-handle bottles, containers, and other packaging materials. Another element boosting demand for blow-molded plastic packaging solutions is rising consumer awareness of sustainable packaging alternatives, which has led in a shift away from traditional packaging materials such as glass and metal and toward more environmentally friendly plastic equivalents.

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Recent Developments

• June 2020 – in alignment with the FEDER Fund of the European Union, International Automotive Components Group, S.L. improved the efficiency of the production process at its facilities in Agoncillo (Logroño), the Philippines. These production processes included two injection machines used in the injection molding process of automotive components such as bumpers and consoles.

• March 2020 – Berry Global announced the investment in meltdown capacity to cater to the growing demand from the Middle East and Asia Pacific region. This investment was intended to expand the production capacity of FFP2 (N95) and FFP3 (N99) industrial face masks and cabin air filtration systems.

• February 2020 – Comar LLC announced the expansion of production capacity in California, US. This expansion was intended to increase the production capacity of injection blow molding, injection stretch blow molding, and injection molding cells to cater to the growing demand, especially from the healthcare industry.

• February 2020 – INEOS Group partnered with Forever Plast SpA, Italy. This partnership was intended to recycle 6.5 billion bottle caps into high-quality Polymer caps over five years.

• November 2019 – Magna International announced the acquisition of Wipac Czech s.r.o., based in Ostrava, Czech Republic. The acquisition enabled the company to expand its product portfolio and engineering capabilities globally.

• October 2019 – Lyondell Basell announced the construction of a modular plastic recycling facility at Ferrara, Italy. Instead, this was to produce sustainable plastic solutions and bioplastics from 100% renewable raw materials such as cooking and vegetable oil waste to produce various products such as food packaging, toys, and furniture.

• May 2019 – Exxon Mobil Corporation announced the Baytown, Texas, chemical plant expansion. This expansion was expected to be completed by 2022, producing an additional 400,000 tons of Vistamaxx polymer per year.

The blow molded plastics market in Asia Pacific, which accounted for over 32% of the overall market revenue, was the largest regional market.

The demand for blow-molded plastics in the Asia Pacific region is anticipated to rise as a result of rising infrastructure spending and rising auto demand in nations like China, India, Indonesia, and Malaysia. As a result of the COVID-19 pandemic’s impact on cross-border trade among economies, the blow molded plastics market in North America is predicted to expand slowly. The packaging application segment’s growing need for polypropylene and ABS for the production of bottles, face masks, and face shields, among other products, is the main driver of the market.

Blow Molded Plastics Market Technological Trends

• Advanced Materials:

Development of new and advanced materials with enhanced properties, such as improved strength, durability, and environmental sustainability.

Increased use of biodegradable and bio-based materials to address environmental concerns.

• Automation and Industry 4.0:

Integration of automation and smart manufacturing technologies to improve efficiency, reduce production costs, and enhance overall production capabilities.

Implementation of sensors and monitoring systems for real-time quality control and process optimization.

• Customization and 3D Printing:

Growing demand for customized and unique product designs, leading to the adoption of 3D printing technologies in blow molding processes.

3D printing enables the production of complex shapes and designs with greater flexibility.

• Energy Efficiency:

Focus on energy-efficient manufacturing processes to reduce overall production costs and minimize environmental impact.

Adoption of energy-efficient machinery and technologies for the blow molding process.

• Recycling and Circular Economy:

Increased emphasis on recycling and the use of recycled materials in blow molding processes.

Integration of circular economy principles to minimize waste and promote a more sustainable product life cycle.

Key Aspects and Trends Related to The Blow Molded Plastics Market:

• Packaging Industry Dominance:

Blow molded plastics are widely used in the packaging industry for the production of bottles, containers, and other packaging materials.

Lightweight and cost-effective nature of blow molded plastic containers contribute to their popularity in the beverage, food, and personal care industries.

• Sustainable Packaging Solutions:

There's a growing trend towards the use of sustainable materials in packaging. In response to this, some companies are developing bio-based and recycled blow molded plastics to address environmental concerns.

• Automotive Applications:

Blow molded plastics are utilized in the automotive industry for manufacturing components such as fuel tanks, ducts, and interior components.

The lightweight nature of plastics contributes to improved fuel efficiency in vehicles.

• Technological Advancements:

Continuous advancements in blow molding technology, such as the development of multi-layer and co-extrusion technologies, contribute to improved product quality and performance.

• Customization and Design Flexibility:

Blow molding allows for the production of complex and custom-designed shapes, providing manufacturers with flexibility in designing products to meet specific requirements.

• Healthcare Industry Use:

Blow molded plastics are employed in the healthcare sector for the production of medical containers, equipment, and packaging due to their cleanliness, durability, and cost-effectiveness.

Top Key Players of Blow Molded Plastic Market

• 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.
• Machinery Center, Inc.
• Custom-Pak, Inc.
• APEX Plastics
• INEOS Group
• Lyondell Basell Industries Holdings B.V
• Exxon Mobil Corporation
• Gemini Group, Inc

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Key Market Segments: Blow Molded Plastics Market

Blow Molded Plastics Market By Product, 2023-2029, (USD Billion), (Kilotons)

• Polyethylene Terephthalate
• Engineering Plastics
• Polyvinyl Chloride
• Polypropylene
• Polystyrene
• Low Density Polyethylene
• High Density Polyethylene

Blow Molded Plastics Market By Technology, 2023-2029, (USD Billion), (Kilotons)

• Injection Molding
• Blow Molding
• Extrusion Molding
• Others

Blow Molded Plastics Market By Application, 2023-2029, (USD Billion), (Kilotons)

• Building And Construction
• Automotive
• Electrical And Electronics
• Packaging
• Others

Market Dynamics

1. Drivers:

• Increasing Demand: The demand for blow-molded plastics is often driven by various industries, including packaging, automotive, consumer goods, and more. As these industries grow, the demand for blow-molded plastic products increases.

• Cost-Efficiency: Blow molding is often considered a cost-effective manufacturing process compared to other molding techniques. This cost efficiency can drive its adoption across different sectors.

• Innovation in Materials: Advancements in materials and technology related to blow molding, including the development of new and improved plastic resins, can drive market growth.

• Sustainable Practices: Growing awareness of environmental issues has led to an increased demand for sustainable packaging solutions. If blow-molded plastics can offer eco-friendly options, it can be a significant driver.

2. Restraints:

• Environmental Concerns: While plastics are widely used, there is a growing concern about their environmental impact, particularly in terms of pollution and recycling challenges. This can lead to regulatory restrictions and a shift toward more sustainable alternatives.

• Fluctuations in Raw Material Prices: The blow-molded plastics market is influenced by the prices of raw materials such as plastic resins. Fluctuations in these prices can impact the overall cost of production and profit margins for manufacturers.

3. Opportunities:

• Growing End-User Industries: Opportunities may arise from the expansion of end-user industries such as food and beverage, pharmaceuticals, and automotive, which are major consumers of blow-molded plastic products.

• Technological Advancements: Advances in blow molding technology, including automation and process efficiency improvements, can create opportunities for manufacturers to enhance their production capabilities.

• Customization and Design: Offering customized and innovative design solutions can be an opportunity, especially in industries where unique and eye-catching packaging or product shapes are valued.

4. Challenges:

• Regulatory Compliance: Compliance with environmental regulations and standards can pose challenges for manufacturers, particularly those producing non-biodegradable plastics.

• Competition: The blow-molded plastics market is competitive, and manufacturers need to constantly innovate to stay ahead of the competition. This includes both product innovation and process efficiency.

• Recycling and Sustainability: The industry faces challenges related to the recycling of plastics and finding more sustainable alternatives. Meeting consumer and regulatory demands for eco-friendly solutions can be a complex challenge.

Key Question Answered

1. What is the current size of the blow molded plastics market?
2. What are the key factors influencing the growth of blow molded plastics market?
3. What are the major applications for blow molded plastics market?
4. Who are the major key players in the blow molded plastics market?
5. Which region will provide more business opportunities blow molded plastics market in future?
6. Which segment holds the maximum share of the blow molded plastics market?

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