Blow Molded Plastics Market: Introduction
- Blow molding is a method of producing empty plastic parts by forming and gluing them together. It is also used in the manufacturing of glass bottles and other empty containers. In general, there are three main types of blow formations: extrusion blow formation, injection blow formation, and injection stretch blow blowing. Blow molding plastic is made of polyethylene, polypropylene, polyvinyl chloride, and polyethylene terephthalate, etc. Molded plastics are blown into molding processes in which empty plastic products are formed.
Blow Molded Plastics Market: Key Drivers
- Growing demand for plastics manufactured for medical applications worldwide serves as one of the major factors driving the growth of the molded plastics market. Increasing demand for various pharmaceutical products, antibiotics, and sanitizers as well as further research and development is propelling the demand for the product in the market. Increased demand from key application sectors including construction, automotive, and packaging, as well as significant demand for machinery that can bring high accuracy, cost efficiency, and greater flexibility to reduce the rising production costs among manufacturers impacts the market. Rapid industrial development and social construction has a positive impact on the growth of the packaging industry. FMCG industries and increased use of plastic parts in consumer electronics have a positive impact on the molded plastics market. In addition, the continued practice of using plastics in home care products is likely to increase the profit potential for market players in the near future.
- The need for a compound blowing method is largely driven by the automotive industry as this method is used to produce highly customized car parts. The growing demand for lightweight special car parts for OEM markets is estimated to guide future demand for blow molded plastics in the market.
Blow Molded Plastics Market: Key Opportunity
- In addition to flexible packaging, blow molded plastics have a clear application in the solid packaging of PP bottles of mineral water and edible oils. It is also used in automobiles, consumer goods such as furniture, appliances, luggage, and other applications. Many car manufacturers opt for plastic car parts, which enables cheaper production and increases the company's profit margins.
Blow Molded Plastics Market: Key Restraints
- Volatility in the prices of raw materials and availability of substitutes are expected to hamper the growth of the blow molded plastics market. Strict rules are expected to challenge the plastic market in the future.
APAC the Leading Market for Blow Molded Plastics
- By region, the global industrial blow molded plastics market is classified into North America (NA), Europe (EU), Asia Pacific (APAC), Middle East & Africa (MEA), and South America (SA).
- Asia Pacific is the dominant blow molded plastics market. The positive economic scenario and the emergence of a few domestic producers with sound technical expertise at low cost compared to the mature economies of Europe and North America have helped drive the market. China, a major product manufacturing country, has experienced explosive expansion in industries that use compacted plastic compounds. This also helps the APAC market flourish. China's packaging sector is predicted to grow at a rapid pace. This uptick in the packaging business is projected to boost consumer demand.
- Key Players Operating in the Blow Molded Plastics Market:
Some of the Major Companies Identified in the Global Blow Molded Plastics Market are:
- Agri-Industrial Plastics
- Chevron Phillips Chemical Company LLC
- Comar, LLC Rutland Plastics Ltd.
- Creative Blow Mold Tooling
- Exxon Mobil Corporation
- Garrtech, Inc.
- Gemini Group, Inc.
- Inpress Plastics Ltd.
- International Automotive Components (IAC) Group
- Magna International, Inc.
- The Plastic Forming Company, Inc.
Global Blow Molded Plastics Market: Research Scope
Global Blow Molded Plastics Market, by Type
- Polyvinyl Chloride
- Polyethylene Terephthalate
- Other (Acrylonitrile Butadiene Styrene (ABS), Polystyrene etc.)
Global Blow Molded Plastics Market, by End-users
- Consumables & Electronics
- Automotive & Transport
- Building & Construction
Global Blow Molded Plastics Market, by Technology
- Extrusion Blow Molding
- Injection Blow Molding
- Stretch Blow Molding
- Compound Blow Molding
Global Blow Molded Plastics Market, by Distribution Channels
Global Blow Molded Plastics Market, by Region
- North America
- Rest of North America
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Middle East & Africa
- South Africa
- Rest of Middle East & Africa
- South America
- Rest of South America
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