Blow Molded Plastic Market worth USD 97.4 billion by 2027

The Market Statsville Group (MSG) publishes the new report on the "Blow Molded Plastic Market by Plastic (PET, PE, PP, PVC, and Others), by Technology (Stretch Blow Molding, Extrusion Blow Molding, and Injection Blow Molding), by End-Users (Residential, Commercial, and Industrial), by Region – Global Share and Forecast to 2027". In 2020, the global blow molded plastic market size was USD 75.7 billion and was expected to grow 97.4 billion by 2027, at a CAGR of 4.3% during the forecast period. High demand for packaged water ensues from the largescale shift to a healthy lifestyle. The fear of diseases by drinking polluted tap water has negatively impacted consumer mindset, compelling people to switch to packaged water. The introduction of various innovative and attractive packaging has changed the look of packaged water. Packaged drinking water is chiefly sold in various packages: pouches, 330-milliliter bottles, 500-milliliter bottles, one-liter bottles, and even 20 to 50-liter bulk. This volume differs between regions. Stretch blow-molded PET plastic is the major material used for packaging drinking water. The use of bioplastics is limited due to cost escalations and high-volume availability concerns. Many application areas also use recycled PET plastics, replacing virgin plastics and creating more PET bottles. For instance, PET bottles are recycled and converted to fibers to be used in textiles.

Global Blow Molded Plastic Market Segmentation

The overall blow-molded plastic market has been segmented into plastic, technology, end-users, and region.

• By Plastic (PET, PE, PP, PVC, and Others)
• By Technology (Stretch Blow Molding, Extrusion Blow Molding, and Injection Blow Molding)
• By End-Users (Residential, Commercial, and Industrial)
• By Region (US, Mexico, Canada, Germany, France, UK, Italy, Spain, China, India, South Korea, Japan, Southeast Asia, Australia, Saudi Arabia, Peru, South Africa, Qatar, UK, Nigeria, Israel, Brazil, Argentina)

Extrusion blow molding, by technology, is estimated to hold the largest market share during the forecast period

Based on technology, the global blow molded plastic market is segregated into stretch blow molding, extrusion blow molding, and injection blow molding. The extrusion blow molding segment generated the highest revenue of 57.3% of the global blow molded plastic market in 2020, and it is expected to register a significant CAGR from 2021 to 2027. Extrusion technology is one of the most common methods of blow molding, which is predominantly used for the production of large quantities of fairly simple components. Generally used for the production of bottles, the machinery used for extrusion blow-molding has a capacity range of 6 million to 55 million bottles a year. Some product categories include - household and industrial cleaning bottles, personal care, and oil bottles, among others.

In extrusion blow molding technology, pellets of plastic resin are heated and extruded into a tube of plastic. A two-piece metal mold is then locked across the plastic tube. Later, high-pressure air is gusted into it, which molds the plastic into the shape of the mold. Extruded plastic tubes and bottles are extensively used in beauty and cosmetic packaging. Extrusion blow molding provides a wide range of design flexibility (angular, oval, curved). The application areas of extrusion blow molding include - packaging for personal care, oils and lubricants, homecare products, and drinks and food.

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The Asia Pacific accounts for the largest market share in the blow-molded plastic market 2020

Based on the regions, the global blow molded plastic market has been segmented across North America, Asia-Pacific, Europe, South America, and the Middle East & Africa. The Asia Pacific dominated the blow-molded plastic market and accounted for the largest revenue share of over 33.3% in 2020. APAC has recorded the highest and swiftest economic growth globally over the last few years. This has considerably impacted the packaging industry in APAC. The automotive, electronics, and semiconductor industries together hold over 50% share of the market for manufacturing precision parts. The outlook of the automotive industry is strengthened on account of the abolition of tariffs on imported completely built-up vehicles.

Milk packaging has grown significantly in China, with national dairies expanding operations using UHT milk. The UHT milk has over 65% market share in China than pasteurized or sterilized milk. Most of the UHT milk is packed in rigid plastic HDPE/PET containers and liquid packaging boards. Major packaging vendors have their base in APAC to cater to the demand from dairy vendors. India has a large demographic advantage in the form of emerging middle-class, flourishing retail sector, and a large workforce, which is highly skilled. The consumption of frozen plastic products has been considerably high, especially after large retail chains.

This research report includes a study on the development and marketing strategies, along with a study on the product portfolios and winning strategies of the leading companies operating in the blow-molded plastic market. It also consists of the profiles of leading companies such as Magna International, Inc., Berry Global, Inc., Pet All Manufacturing, Inc., Inpress Plastics Ltd., Dow Inc., International Automotive Components (IAC) Group, Comar, LLC, Rutland Plastics Ltd, The Plastic Forming Company, Inc., Garrtech, Inc., Creative Blow Mold Tooling, Agri-Industrial Plastics, North American Plastics, Ltd., Custom-Pak, APEX Plastics, Machinery Center, Inc., INEOS Group, LyondellBasell Industries Holdings B.V., ExxonMobil, Gemini Group, Inc.

Browse complete report: https://www.marketstatsville.com/blow-molded-plastic-market

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