Market Overview
The
Global Blow Molded Plastics Market is expected to reach a valuation of
USD 89.6 billion in 2023 and
USD 149 billion in 2032. It is anticipated to grow with a
CAGR of 5.6% for the forecast period (2023-2032).
Blow molding is a method used to craft hollow plastic items from thermoplastic materials. Plastics formed by blow molding procedures start by heating & inflating a plastic tube, also known as a preform. This Preform is positioned between two molds shaped according to the desired product. Air is introduced to inflate the tube, causing its walls to become thinner and match the mold's shape. After the blowing stage, the product undergoes cooling, ejection, trimming, and preparation for subsequent processes. Basic steps in Blow molding follow a simple sequence involving melting, blending, extrusion, blowing, cooling, & ejection. Various production facilities might incorporate extra steps like additional cooling or heating rounds, as well as mixing in additives and colorants. These added stages rely on the specific design & planned use of the end product.
The market is segmented on the basis of Type (Injection Blow Molding, Extrusion Blow Molding, and Others), By Resins PE, PP, PA, PC, PET, PVC, and Others), and By Application (Packaging, Automotive & Transport, Consumables & Electronics, Building & Construction, Medical, and Others).
Market Dynamic
The demand for blow-molded plastics is primarily fueled by the packaging sector. Plastic containers, jars, and bottles, created through blow molding find extensive use in packaging
food, beverages, personal care items, & household chemicals. The rising customer goods industry, evolving lifestyles, & the growing preference for convenient packaging have greatly elevated the desire for blow-molded plastics.
Blow-molded plastics play a vital role in the automotive sector, being widely used for crafting air ducts, fuel tanks, dashboards, bumpers, & interior trims. The automotive sector’s ongoing focus on lightweight items, aiming to enhance fuel efficiency & lower emissions, has resulted in a growing embrace of blow-molded plastics.
Despite their advantages, these plastics have raised concerns regarding their environmental impact, especially concerning plastic waste & pollution. Heightened awareness about plastic pollution & the rising demand for eco-friendly options have resulted in regulatory actions & consumer choices shifting toward more sustainable choices. Consequently, sectors are under pressure to get new alternative materials & reduce their dependence on conventional blow-molded plastics.
Research Scope and Analysis
By Type
Extrusion blow molding has captured a huge share of this market in 2023. This method creates plastic products that are both durable & lightweight, making them ideal for sectors such as packaging. The property of lightweight in these products reduces the costs of transportation and impact on the environment. Albeit they are light, they maintain good structural integrity, enduring handling & challenges related to transportation. Moreover, extrusion blow molding supports environmental sustainability by enabling the use of recycled plastic items, lessening reliance on new resins, & promoting a circular economy. Furthermore, the products' lightweight design helps in lowering carbon emissions during transportation.
By Resin
Under the Resin segment, the Polyethylene category leads the market with a maximum share as compared to other categories. This dominance can be attributed to its widespread utilization in the electrical & electronics & packaging sectors. They are commonly employed in several packaging applications producing bottles for a diverse range of products including chemicals & food items due to their lightweight properties which further reduce the cost of logistics. It is also used in manufacturing various household products such as containers, drums, & toys, etc.
Polyethylene terephthalate also sees extensive use in the packaging sector, particularly in producing bottles for beverages & food items. Amid the recent pandemic, PE & PET demand is anticipated to surge due to the increased need for protective gowns, face masks, & bottles utilized for hand sanitizers.
By Application
Under the application segment, the packaging sub-segment leads the global blow-molded plastics market, accounting for more than 39% of the total revenue in the blow-molded plastics market. This sector's growth is mainly propelled by high consumer spending in developing countries. The packaging sector's expansion is expected to drive the need for plastic materials like polyethylene and polyethylene terephthalate during the forecast period. The blow-molded plastics requirements are notably rising in the packaging sector, driven by the increased need for plastic bottles utilized for disinfectants, hand sanitizers, household cleaning solutions, & several other products amid the recent pandemic.
Another segment having a good chunk of share is Automotive & Transport after the packaging sector. The growing use of plastics in car parts, along with the simultaneous increase in the manufacturing of e-cars & large vehicles, especially in South & Central America and Asia is set to drive the growth of this sector in the predicted period.
The Global Blow Molded Plastics Market Report is segmented on the basis of the following:
By Type
- Injection Blow Molding
- Extrusion Blow Molding
- Others
By Resins
- Polyethylene (PE)
- Polypropylene (PP)
- Polyamide (PA)
- Polycarbonate (PC)
- Polyethylene terephthalate (PET)
- Polyvinyl Chloride (PVC)
- Others
By Application
- Packaging
- Automotive & Transport
- Consumables & Electronics
- Building & Construction
- Medical
- Others
Regional Analysis
Asia-Pacific region dominates the Global Blow Molded Plastics Market, securing a maximum
share of 38.2% in global revenue in 2023. In Asia-Pacific, cities are growing fast, which means more buildings & roads are being made. Plastic items made through blow molding, like tanks, pipes, & insulation materials, are extensively utilized in construction. The demand for these plastics has gone up because people need more affordable homes, buildings, as well as factories.
Moreover, in Asia-Pacific, there are many people who buy things. The middle class is getting bigger, & people have more money to spend on products like electronics, packaged goods, & car parts. Blow-molded plastics are popular in these areas as they are versatile, affordable, & can meet the needs of a growing market.
By Region
North America
Europe
- Germany
- The U.K.
- France
- Italy
- Russia
- Spain
- Benelux
- Nordic
- Rest of Europe
Asia-Pacific
- China
- Japan
- South Korea
- India
- ANZ
- ASEAN
- Rest of Asia-Pacific
Latin America
- Brazil
- Mexico
- Argentina
- Colombia
- Rest of Latin America
Middle East & Africa
- Saudi Arabia
- UAE
- South Africa
- Israel
- Egypt
- Rest of MEA
Competitive Landscape
In the global market for blow-molded plastics, several key players compete to provide plastic products for different sectors. These players, big & small, use strategies like creating new products, joining forces with others, and making their existing products better to stay ahead. Changes in technology, what people want, and environmental concerns affect how the market works. With industries like automotive, packaging, & everyday items needing lightweight and environmentally friendly plastic, companies keep working on new ideas and ways to be eco-friendly. They also pay attention to rules about the environment and focus on making plastics that can be recycled, showing how the sector is moving toward greener & better alternative options.
Some of the prominent players in the Global Blow Molded Plastics Market are:
- Dow Inc.
- Comar, LLC
- Magna International, Inc.
- Gemini Group, Inc.
- Custom -Pak
- Creative Blow Mold Tooling
- Garrtech, Inc.
- Rutland Plastics Ltd.
- The Plastic Forming Company, Inc.
- Agri-Industrial Plastics
- APEX Plastics
- Other Key Players
COVID-19 Pandemic & Recession: Impact on the Global Blow Molded Plastics Market:
The COVID-19 pandemic & subsequent recession exerted a substantial impact on the Global Blow Molded Plastics Market. During the initial stages, supply chain disruptions, reduced industrial activities, & weakened consumer demand led to a significant downturn. Industries heavily reliant on blow-molded plastics, such as automotive & consumer goods, faced a decline in production and sales. However, as the world adapted to the pandemic, there was a notable surge in demand for blow-molded plastic products, particularly in the packaging & healthcare sectors. The need for hygienic & safe packaging solutions, coupled with increased production of medical supplies, drove a rebound in the market. Despite challenges, the market has shown resilience, adapting to the evolving demands driven by the ongoing global health crisis.
Report Details
Report Characteristics |
Market Size (2023) |
USD 89.6 Bn |
Forecast Value (2032) |
USD 149 Bn |
CAGR (2023-2032) |
5.6% |
Historical Data |
2017 - 2022 |
Forecast Data |
2023 - 2032 |
Base Year |
2022 |
Estimate Year |
2023 |
Report Coverage |
Market Revenue Estimation, Market Dynamics, Competitive Landscape, Growth Factors and etc. |
Segments Covered |
By Type (Injection Blow Molding, Extrusion Blow
Molding, and Others), By Resins PE, PP, PA, PC, PET,
PVC, and Others), and By Application (Packaging,
Automotive & Transport, Consumables & Electronics,
Building & Construction, Medical, and Others). |
Regional Coverage |
North America – The US and Canada; Europe – Germany, The UK, France, Russia, Spain, Italy, Benelux, Nordic, & Rest of Europe; Asia- Pacific– China, Japan, South Korea, India, ANZ, ASEAN, Rest of APAC; Latin America – Brazil, Mexico, Argentina, Colombia, Rest of Latin America; Middle East & Africa – Saudi Arabia, UAE, South Africa, Turkey, Egypt, Israel, & Rest of MEA
|
Prominent Players |
Dow Inc., Comar, LLC, Magna International, Inc.,
Gemini Group, Inc., Custom-Pak, Creative Blow Mold
Tooling, Garrtech, Inc., Rutland Plastics Ltd., The
Plastic Forming Company, Inc., Agri-Industrial
Plastics, APEX Plastics, and Other Key Players. |
Purchase Options |
We have three licenses to opt for: Single User License (Limited to 1 user), Multi-User License (Up to 5 Users), and Corporate Use License (Unlimited User) along with free report customization equivalent to 0 analyst working days, 3 analysts working days and 5 analysts working days respectively. |
Frequently Asked Questions
The Global Blow Molded Plastics Market is expected to reach a valuation of USD 89.6 billion in 2023 and
USD 149 billion in 2032.
The expected CAGR for the Global Blow Molded Plastics Market is 5.6% for the forecast period (2023-
2032).
Asia-Pacific region dominates the Global Blow Molded Plastics Market with a maximum share of 38.2%
in 2023.
Some of the prominent players in the Global Blow Molded Plastics Market include Dow Inc., Comar, LLC,
Magna International, Inc., Gemini Group, Inc., Custom-Pak, Creative Blow Mold Tooling, Garrtech, Inc.,
Rutland Plastics Ltd., The Plastic Forming Company, Inc., Agri-Industrial Plastics, etc.