The global blow molded plastics market is
expected to reach USD 191.6 billion by 2025, according to a new report by Grand
View Research, Inc. The global blow molded plastics industry is expected to
witness significant growth over the forecast period owing to increasing product
demand from end-use industries. In the past few years, there has been a
significant growth in technologies and equipment for manufacturing blow molded
plastics, which has enabled manufacturers to cater to specific requirements for
several application sectors.
The industry has experienced
solid development over the past years. However, several structural issues
continue to plague the industry participants present in the entire value chain.
Machinery manufacturers also compete heavily with price flections in, as is the
case in most other machinery manufacturing industries.
These types of plastics are
quickly replacing conventional substances such as glass, wood and engineered
plastics in several application segments owing to their lubricity, flexibility,
increased strength and stiffness, and various product characteristics (flame-retardant,
UV stability, availability in numerous colors, and antioxidant). This trend is
anticipated to drive global market growth over the forecast period. Reduced
costs and light weight of plastic compounds further contribute to the rising
product demand in various industrial applications, mainly in construction and
automotive sectors.
Extrusion blow molded plastics
was the largest and the fastest growing technology segment in 2016. The
extrusion blow molding technology is a revolutionary form of blow molding
process as it has revolutionized the plastic manufacturing sector. One of the
main advantages of this process is that it enables the manufacturers to
increase output along with the efficiency of providing customized products.
Moreover, cheaper mold cost compared to other processes makes it a
cost-effective technology. Hence, it is expected to be the largest
technology segment in the next eight years as it is used to manufacture plastic
products for several end-use industries.
Browse full research report on Global
Blow Molded Plastics Market: http://www.grandviewresearch.com/industry-analysis/blow-molded-plastics-market
Further key findings from the report suggest:
- The global blow molded plastics demand was 68.13 million tons in 2016 and is estimated to grow at a CAGR of 3.6% from 2017 to 2025
- Polyethylene was the largest product segment in 2016. PE compounds are dominantly used across various industries and have been an integral material for packaging industry. Apart from the packaging sector, the UHMWPE finds application in manufacturing high performance medical devices
- Acrylonitrile butadiene styrene (ABS) to emerge as the fastest growing product segment owing to increasing demand form the automobile industry
- Asia Pacific accounted for over 30% of the overall volume in 2016. China blow molded plastics market to witness a growth of 6.1% to reach a net worth of USD 30.62 billion by 2025.
- Major resin manufacturers currently operating in the market include Dow Chemical Company, Sabic, ExxonMobil, LyondellBasell and Sinopec. They account for less than 40% of the overall global annual output
- Favorable federal regulations by agencies such as EPA, NHSTA, CARB, and SEPA regarding carbon emissions along with EU initiatives to develop blow molding applications for manufacturing light and fuel-efficient cars are likely to boost global market growth
Browse more reports of this category by Grand View Research: http://www.grandviewresearch.com/industry/plastics-polymers-and-resins
Grand View Research has segmented the global blow molded
plastics market on the basis of application:
Technology Outlook (Volume, Kilo Tons; Revenue, USD
Million, 2014 - 2025)
- Injection blow molding
- Extrusion blow molding
- Stretch blow molding
- Compound blow molding
Product Outlook (Volume, Kilo Tons; Revenue, USD Million,
2014 - 2025)
- Polypropylene
- Acrylonitrile butadiene styrene (ABS)
- Polyethylene
- Polystyrene
- PVC
- PET
- Others
Application Outlook (Volume, Kilo Tons; Revenue, USD
Million, 2014 - 2025)
- Packaging
- Consumables & Electronics
- Automotive & Transport
- Building & Construction
- Medical
- Others
Regional Outlook (Volume, Kilo Tons; Revenue, USD
Million, 2014 - 2025)
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- UK
- France
- Italy
- Asia Pacific
- China
- Japan
- India
- Central & South America
- Brazil
- Middle East & Africa
- Saudi Arabia
About Grand View Research
Grand View Research, Inc. is a
U.S. based market research and consulting company, registered in the State of
California and headquartered in San Francisco. The company provides
syndicated research reports, customized research reports, and consulting
services. To help clients make informed business decisions, we offer market
intelligence studies ensuring relevant and fact-based research across a range
of industries, from technology to chemicals, materials and healthcare.
For more information: www.grandviewresearch.com
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