Global Blow Molding Plastics Market was valued at USD 76.45 Bn in 2019 and is expected to reach USD 98.44 Bn by 2027 at a CAGR of 3.21% over forecast period 2020-2027.
Global Blow Molding Plastics Market
The report covers an in-depth analysis of COVID 19 pandemic impact on Global Blow Molding Plastics Market by region and on the key players revenue affected till April 2020 and expected short term and long-term impact on the market.
Global Blow Molding Plastics Market Dynamics:
Blow molding is a plastic molding process. In this process, thermoplastic material is heated to its forming temperature below that of the plastic materials being used and a hollow tube is formed at its melting point. Various factors such as growing demand from various end user industries such as construction, automotive, and packaging in South Korea, Brazil, Russia, India, China, and South Africa, increasing demand of pharmaceutical products such as disinfectants, and sanitizers and increasing R&D expenditure by major market players are driving the blow molding plastics market growth. Manufacturers such as Dow Company, Exxon Mobil Corporation, Magna International Inc., Comar LLC and Inpress Plastics Ltd. among others are using modern and advanced blow molding machines. These machines are delivering higher accuracy, greater cost efficiency, and maximum efficiency and industry specific plastics.
However, factors such as fluctuations in raw material prices, stringent government regulations pertaining to plastics, less adoption in underpeopled countries are restraining the blow molding plastics market growth.
Global Blow Molding Plastics Market is segmented by type, by end-userand by region. By Type, polyethylene type segment held the highest market share of more than 23.56% in 2019 and is expected to keep its dominance over the forecast period owing to growing demand for polyethylene compounds in the packaging and electronics industry. The polyethylene type plastics are used in preparation of various bottles, chemical products and other in food items. Polyethylene type segment is followed by Polyethylene terephthalate segment owing to increasing research and developments on PET recycling. By end user, Packaging end user segment held more than 39.89% of market share in 2019 and is expected to keep its dominance over the forecast period owing to growing use of packaging product in emerging economies such as China, India, Japan and South Korea. Packaging end user is followed by furniture and design end user segment. Blow molding plastic products are used in various consumer product like housewares, furniture, appliances, luggage, and other applications.
By geography, APAC held the highest market share of 35.67% in 2019 and is expected to keep its dominance over the forecast period. Factors such as favourable and supportive economic and regulatory policies, increasing presence of many international market players in China, India and in ASEAN economies, rapidly expanding automotive and construction end user industries and prosperous packaging industry in this region are driving the market growth of blow molding plastics in this region. China is leading the market in this region due to presence of several domestic manufacturers with advanced technological capabilities. APAC is followed by North America and Europe. North America is expected to hold 23.45% of market share over the forecast period. Factor such as well-developed end user industries, growing demand for Polypropylene and ABS for manufacturing bottles, face masks, and face shields and presence of major market players are driving the market growth in this region.
Report covers in depth analysis of key development, marketing strategies, supply-side and demand side indicators and company profiles of market leaders, potential players, and new entrants. Key players operating in this market are adopting various organic and inorganic growth strategies such as merger& acquisitions, joint ventures, collaborations, expansion, new product launches and patents to increase their regional presence and business operations.
The objective of the report is to present a comprehensive analysis of the Global Blow Molding Plastics Market including all the stakeholders of the industry. The past and current status of the industry with forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that includes market leaders, followers, and new entrants. PORTER, SVOR, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analysed, which will give a clear futuristic view of the industry to the decision-makers. The report also helps in understanding Global Blow Molding Plastics Market dynamics, structure by analyzing the market segments and project Global Blow Molding Plastics Market Clear representation of competitive analysis of key players by price, financial position, Product portfolio, growth strategies, and regional presence in the Global Blow Molding Plastics Market make the report investor’s guide.
Scope of Global Blow Molding Plastics Market
Global Blow Molding Plastics Market Segmentation by Type
Global Blow Molding Plastics Market Segmentation by End-User
• Furniture & Design
Global Blow Molding Plastics Market Segmentation by Region
• North America
• MEA& Africa
• South Africa
Global Blow Molding Plastics Market Major Players
• Dow Company
• Exxon Mobil Corporation
• Magna International Inc.
• Berry Global Inc.
• Rutland Plastics Ltd.
• Comar LLC
• Inpress Plastics Ltd.
• The Plastic Forming Company
• International Automotive Components (IAC) Group
• Rutland Plastics Ltd
• Gemini Group, Inc.
• The Plastic Forming Company, Inc.
• Agri-Industrial Plastics
• Garrtech, Inc.
• Creative Blow Mold Tooling
• North American Plastics, Ltd.
• APEX Plastics
• INEOS Group
• Berry Global, Inc.
• Dow Inc.
• LyondellBasell Industries Holdings B.V.
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