Blow Molding Resins: Introduction
- Blow molding resins are primarily used in the packaging industry. Commonly used blow molding resins include polyethylene, polyvinyl chloride, and polyethylene terephthalate.
- Blow molding resins offer excellent stiffness and exceptional stress cracking resistance properties. Therefore, blow molding resins are primarily used in the production of bottles. These resins also provide unique combination of optimized density and stiffness, thereby making them ideal for the packaging industry. Smooth processability of blow molding resins such as polyethylene and polyvinyl chloride is another factor that is expected to boost its consumption in a wide range of end-use industries.
- Based on resin type, the global blow molding resins market can be segmented into polyethylene (PE), polypropylene (PP), polyvinyl chloride (PVC), polyethylene terephthalate (PET), acrylonitrile butadiene styrene (ABS), nylon/polyamides (PA), and others. The polyethylene (PE) segment is expected to hold major share of the global blow molding resins market during the forecast period. Polyethylene is a largely preferred material for blow molding purposes. These resins are primarily employed in manufacture of bottles for shampoos, motor oils, coolers, fuel tanks, industrial drums, cases, among others. About two-third of high density polyethylene (HDPE) resins is used in the production of bottles for liquid products and household chemicals.
Rise in Demand for Blow Molding Resins in Packaging Industry
- Blow molding resins are predominantly used in the packaging industry. These resins are employed in packaging of household industrial chemicals, personal care products, medicinal aids, etc. Blow molding resins provide excellent toughness, high rigidity, abrasion resistance, and high heat distortion temperatures. They also offer good resistance against chemical attack. These properties of blow molding resins make them an ideal choice for usage in the packaging the industry.
Impact of COVID-19 on Global Blow Molding Resins Market
- Global pandemic spread has resulted in significant losses in terms of production and revenue generation, especially in the blow molding resins market. Production of polymeric resins has been significantly affected owing to the spread of the coronavirus. Decline in demand and variation in production of polymeric resins have led to fluctuation in prices of blow molding resins. This is likely to adversely affect the market in the near future.
Asia Pacific to Hold Major Share of Global Blow Molding Resins Market
- In terms of region, the global blow molding resins market can be split into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa
- Asia Pacific is anticipated to hold significant share of the global blow molding resins market during the forecast period. Rise in disposable income and increase in popularity of skincare products are expected to drive the demand for packaging containers. Furthermore, increase in demand for anti-aging products in South Korea, China, Japan, and India is another prominent factor that is expected to drive the consumption of blow molding resins in the production of shampoo bottles, perfume bottles, and makeup items. This is estimated to drive the demand for blow molding resins in Asia Pacific. Additionally, the region has dominance of major manufacturers of blow molding resins such as Reliance Industries Limited and various small domestic producers.
- The blow molding resins market is mature in regions such as Europe and North America. Europe is one of the major producers of blow molding resins. The region has dominance of major manufacturing companies including Solvay S.A., INEOS AG, and LyondellBasell N.V.
- SABIC is a major producer and supplier of blow molding resins in Middle East & Africa. The company manufactures high density polyethylene resin for blow molding purposes. These blow molding resins are further used in the production of closed head shipping containers, fuel tanks, and containers for industrial applications.
- Blow molding resins are used in the production of motor oil, shampoo bottles, coolers, and fuel tanks in Latin America. Brazil and Mexico are primarily import blow molding resins from the U.S.
Key Players Operating in Market
The global blow molding resins market is fragmented with the presence of several major players. Key players operating in the global blow molding resins market include:
- LyondellBasell N.V.
- Formosa Plastics Corporation
- ExxonMobil Corporation
- The Dow Chemical Company
- INEOS AG
- Solvay S.A.
- Reliance Industries Limited
Global Blow Molding Resins Market: Research Scope
Global Blow Molding Resins Market, by Resin Type
- Polyethylene (PE)
- Low Density Polyethylene (LDPE)
- High Density Polyethylene (HDPE)
- Polypropylene (PP)
- Polyvinyl Chloride (PVC)
- Polyethylene Terephthalate (PET)
- Acrylonitrile Butadiene Styrene (ABS)
- Nylon/Polyamides (PA)
Global Blow Molding Resins Market, by End-use Industry
- Electrical & Electronics
- Building & Construction
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