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Blow Molded Plastics Market: By Type (Polyethylene (PE), Polyethylene Terephthalate (PET), Polypropylene (PP), Polyvinyl Chloride (PVC), Polystyrene (PS) and Acrylonitrile Butadiene Styrene (ABS)), By Technology (Injection Blow Molding, Extrusion Blow Molding, Stretch Blow Molding), By Application (Packaging, Consumables and Electronics, Automotive & Transport, Building and Construction, Medical, Others), And Region - Global Analysis of Market Size, Share & Trends For 2021-2022 And Forecasts To 2032
Molded Plastics Market to surpass USD 108.9 billion by 2032 from USD 74.86 billion in 2021 at a CAGR of 3.5% in the coming years, i.e., 2022-32.
Blow Molding is a procedure in which hollow plastic products are formed. The process includes blowing heated plastic tubes in the desired shapes. Many products are manufactured using blow molding such as water bottles, shampoo bottles, containers, etc. To manufacture blow molded plastics various types of thermoplastics are used including Polyvinyl Chloride, Polyethylene, Polystyrene, Polyethylene Terephthalate, Acrylonitrile Butadiene Styrene, and Polypropylene. Extrusion blow molding, Injection blow molding, and Stretch blow molding are three main types of Blow Molding processes. Blow molded plastics have a wide application in Automotive & Transport, Packaging, Consumables and Electronics, Medical, Building and Construction, and Others.
Growing demand for blow-molded plastics from various end users, rising need for packaging alternatives,s and growing advancements in technology and research and development activities are driving the growth of Blow Molded Plastics market.
Blow Molded Plastics market is classified on the basis of type into Polyethylene (PE), Polyethylene Terephthalate (PET), Polypropylene (PP), Polyvinyl Chloride (PVC), Polystyrene (PS) and Acrylonitrile Butadiene Styrene (ABS). Polyethylene (PE) segment is dominating the market with the largest market share. The growth is attributed to the extensive use of polyethylene in Packaging Consumables & Electronics industries. High-density Polyethylene (HDPE) and Low-density Polyethylene (LDPE) are used to manufacture various grades of bottles for packaging different products. Polyethylene Terephthalate (PET) is expected to grow at a significant rate during the forecast period as PET bottles are fully recyclable.
Blow Molded Plastics market is classified on the basis of application into Packaging, Consumables and Electronics, Automotive & Transport, Building and Construction, Medical, and Others. Packaging segment holds the largest market share and is expected to grow at a significant rate. The growth is attributed to rising demand for packaging products owing to the high tensile strength of blow-molded plastic products. Growing applications in various industries such as pharmaceuticals, food, beverages, etc. are contributing to the market growth.
Growing Demand from Various End Users
Growing demand of blow-molded plastics from various end users is driving the growth of the market. The increase in consumption of packaged food and beverages due to rapid urbanization and improvement in lifestyle has induced the demand of plastic packaging products. Rising use of blow-molded plastics in the medical industry for packaging of syringes, sanitizers, disinfectants, and other pharmaceutical products along with growing applications in construction, transport and automotive, electronics to reduce operational costs is also boosting the growth of Blow Molded Plastics market.
Rising Need for Packaging Alternatives and Advancements in Technology
Plastic packaging is a great alternative to other materials like glass, rubber, metals, etc. as it is durable and does not react with the components. Also, rising demand for lightweight and stiff packaging is contributing in the growth of Blow Molded Plastics market. Furthermore, growing advancements in technology and research and development activities will boost the market owing to the rising manufacturers’ demand for such machines which can reduce operational costs, maximize flexibility and promote higher accuracy will propel the growth of Blow Molded Plastics market.
Growing environmental awareness and concerns related to plastic waste
Consumers are becoming aware of the harmful impacts of non-recyclable plastic products which is reducing the use for plastic and promoting the use of environment-friendly products. Government has imposed ban on single-use plastics and launched regulations to curb the use of plastic products which will restrain the overall market growth of Blow Molded Plastics market.
Blow Molded Plastics market is segmented based on regional analysis into five major regions: North America, Latin America, Europe, Asia Pacific and the Middle East and Africa. Asia Pacific holds the largest share in the market and is expected to grow at a significant rate during the forecast period. Rapid urbanization and increasing population has induced the demand for packaged food and other products which has largely contributed to the market growth. The region has emerged as the largest producer of blow molded plastic products with the presence of many domestic manufacturers and huge demand of consumers.
The outbreak of the coronavirus pandemic has resulted in an economic slowdown across the world. Many countries imposed strict lockdowns and travel bans to control the spread of coronavirus. Covid-19 has affected several industries and even led to shutdown of many business activities. Covid-19 had a negative impact on the Blow Molded Plastics Market due to decline in the demand from various end users and difficulty in operating the manufacturing plants.
| Report Attribute | Details |
| Market size value in 2021 | USD 74.86 billion |
| Revenue forecast in 2032 | USD 108.9 billion |
| Growth Rate | CAGR of 3.5% from 2022 to 2032 |
| Base year for estimation | 2021 |
| Quantitative units | Revenue in USD million and CAGR from 2022 to 2032 |
| Report coverage | Revenue forecast, company ranking, competitive landscape, growth factors, and trends |
| Segments covered | Type, Technology, Application, and Region |
| Regional scope | North America, Europe, Asia Pacific, Latin America, Middle East & Africa (MEA) |
| Key companies profiled | Inpress Plastics Ltd., Comar, LLC, Rutland Plastics Ltd., Gemini Group, Inc., The Agri-Industrial Plastics, Garrtech, Inc., Creative Blow Mold Tooling, North American Plastics, Ltd., Custom-Pak, APEX Plastics, INEOS Group, Berry Global, Inc., Dow Inc., LyondellBasell Industries Holdings B.V., The Plastic Forming Company, Inc., and Other Prominent Players |
Blow Molded Plastics market size was estimated at USD 74.86 billion in 2021 and is expected to reach USD 108.9 billion in 2032.
Blow Molding is a procedure in which hollow plastic products are formed. The process includes blowing a heated plastic tubes in the desired shapes. Many products are manufactured using blow molding such as water bottles, shampoo bottles, containers, etc.
Polyethylene (PE), and Packaging segment accounted for the largest Blow Molded Plastics market share.
Key players: Inpress Plastics Ltd., Comar, LLC, Rutland Plastics Ltd., Gemini Group, Inc., The Agri-Industrial Plastics, Garrtech, Inc., Creative Blow Mold Tooling, North American Plastics, Ltd., Custom-Pak, APEX Plastics, INEOS Group, Berry Global, Inc., Dow Inc., LyondellBasell Industries Holdings B.V., The Plastic Forming Company, Inc., and Other Prominent Players are the key players in the Blow Molded Plastics market.
Growing Demand from Various End Users and Rising Need for Packaging Alternatives and Advancements in Technology are the factors driving the Blow Molded Plastics market.
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