Blow Molding Resins Market

Blow Molding Resins Market - An Overview

The global blow molding resins market is expected to witness strong growth during the forecast period between 2021 and 2031.

Blow molding is a procedure of manufacturing hollow products by expanding the plastic components against the inner surface of molds by deploying resins.

Blow molding resins offer improved stiffness and superb stress-resistant characteristics. As a result, they have become key components in the production of bottles.

They also offer other properties such as high load melt strength and scratch resistance with improved gloss.

The COVID-19 pandemic negatively impacted the overall blow molding resins market. With governments imposing lockdowns and strict social distancing regulations in a bid to contain the spread of the virus, manufacturing facilities were forced to shut down temporarily or permanently.

This led to a reduction in demand for blow molding resins and impacted the global blow molding resins market.

Blow Molding Resins Market - Trends and Opportunities

Rising product demand in the packaging industry is the key growth driver for the global blow molding resins market.

Blow molding resins have been extensively deployed in the packaging of household chemicals, medical aids, and personal care products.

Also, the construction industry in Asia Pacific countries such as India has extensively deployed blow molding resins for several purposes and this is anticipated to propel the overall blow molding resins market.

Other factors such as low installation costs, increased ease of operations onshore, and growth in the e-commerce sector is also expected to contribute to the growth of the blow molding resins market, in the years ahead.

The ease of process ability of blow molding resins such as polyvinyl chloride and polyethylene is also anticipated to fuel product demand and bolster the overall market, in the upcoming years.

The polyethylene blow molding resins are expected to make the largest contribution to the overall blow molding resins market owing to increasing product demand for the manufacturing of shampoo bottles, motor oil bottles, cooler bottles, and industrial drums.

Blow Molding Resins Market - Competitive Landscape

The global blow molding resins market is extremely competitive, with the presence of several leading players, many of whom have become successful owing to years of consistent performances.

Many of these players are expected to account for a large share in the overall market, in the upcoming years.

Prominent players could collaborate with the lesser-known players in a bid to expand their market presence and increase their revenue shares.

R&D undertakings could be a key growth strategy for the leading market players in the coming years.

Some of the leading players in the blow molding resins market include Reliance Industries, SABIC, ExxonMobil Corporation, Dow Chemical Company, and Solvay S.A.

Blow Molding Resins Market - Regional Assessment

The blow molding resins market worldwide is divided into five regions, namely, North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.

Asia Pacific is expected to be the dominant region in the global market in future owing to increasing demand for skin care products among various population sections in countries such as India and China.

North America is anticipated to offer lucrative growth opportunities for the overall blow molding resins market in the coming years owing to the presence of large number of prominent market players in countries such as US and Canada.

Europe is expected to witness substantial growth owing to increasing demand for anti-aging products in countries such as UK and Germany.

Other regions of the world such as Middle East and Africa and Latin America are anticipated to witness moderate growth in the blow molding resins market, in the upcoming years, owing to fewer number of well-established market players in countries belonging to both regions.