Plastic Blow Molding: Introduction
- Blow molding is a manufacturing process that is used to create hollow plastic parts by inflating a heated plastic tube until it fills a mold and forms the desired shape. There are three major types of blow molding processes: extrusion blow molding, injection blow molding, and injection stretch blow molding. Blow-molded parts can be formed from various thermoplastic materials, including polyethylene, polyethylene terephthalate, polypropylene, polyvinyl chloride, polystyrene, and acrylonitrile butadiene styrene.
Key Drivers of Global Plastic Blow Molding Market
- The global packaging industry has been expanding significantly for the last five years due to an increase in the demand for packaging from end-use industries such as food & beverage, pharmaceuticals, personal care & cosmetics, and e-commerce. The use of plastic as a packaging material is increasing at a rapid pace in the packaging industry, owing to its superior performance, cost-effectiveness, and durability. Therefore, expansion of the global plastic blow molding market is primarily driven by a significant rise in the demand from the packaging industry.
- Expansion of the healthcare industry has also propelled the blow molding plastics market considerably, as plastic packaging helps maintain hygiene and is less susceptible to damage and leaks as compared to glass packaging. Healthcare products such as syringes, bottles, cylinders, and medical containers are made of blow molded plastics. Therefore, a rise in the demand for blow molding plastics in the packaging industry boosts the global market.
- Polyethylene Terephthalate (PET) is extensively utilized in the packaging industry including in the manufacturing of bottles intended for the packaging of food & beverage products. This is expected to drive its demand during the forecast period. Demand for Polypropylene (PP) and PET is estimated to rise during the COVID-19 pandemic, due to the increased usage of face masks, protective gowns, and packaging bottles for hand sanitizers. It is likely to boost the plastic blow molding market across the globe.
Global Plastic Blow Molding Market to Offer Significant Opportunities
- The latest innovations in blow molded technologies are expected to fuel the market, as the new production processes are projected to be more energy-efficient, time-saving, and environment friendly. Furthermore, various government bodies are supporting the recycling and reuse polices in order to avoid pollution and landfills, which in turn is expected to create significant opportunities for the blow molded type of plastics.
Impact of COVID-19 on Global Plastic Blow Molding Market
- The outbreak of COVID-19 has had a negative impact on the production of blow molding plastics due to the disruption in the supply chain across the globe. The global pandemic has led to a reduced supply of some products, primarily due to the reduced operating capacities of production plants across Europe and Asia Pacific. Furthermore, manufacturers are also facing serious headwinds due to disruptions in raw material supply and volatility in prices.
- Key end consumers of blow molding plastics include packaging, automotive, building & construction, consumables, and electronics. Demand for plastic blow molded products from automotive and packaging industries has declined significantly primarily due to the shutting down of factories and businesses worldwide, resulting in insufficient availability of raw materials, thereby affecting production on a global scale. For instance, in March 2020, Fiat Chrysler Automobiles and Groupe PSA announced that they were completely stopping car production in Europe, while Volkswagen AG shut factories in Italy and Spain. Major auto producers such as Maruti Suzuki, Hero MotoCorp, and Bajaj Auto also shut down operations in Gurgaon and Pune, respectively, owing to the countrywide lockdown imposed by the government to curb the spread of COVID-19.
Asia Pacific to Hold Significant Share of Global Plastic Blow Molding Market
- Among all regions, Asia Pacific is projected to dominate the global market in the next few years. Rise in demand for blow molded plastics in the region is due to the increasing applications in the food and beverage industry. The product is widely utilized as a packaging material in several other industries across the region. Increase in population in countries, such as India and China, is estimated to cater to the increasing production capacities of manufacturers in the region.
Key Players Operating in Global Market
The global plastic blow molding market is highly fragmented owing to the presence of top manufacturers across the globe. A few of the key players operating in the global plastic blow molding market are:
- Magna International, Inc.
- International Automotive Components (IAC) Group
- Inpress Plastics Ltd.
- Comar, LLC
- Rutland Plastics Ltd.
- Gemini Group, Inc.
- The Plastic Forming Company, Inc.
- Agri-Industrial Plastics
- Garrtech, Inc.
- Creative Blow Mold Tooling
- North American Plastics, Ltd.
- APEX Plastics
- INEOS Group
- Berry Global, Inc.
- Dow Inc.
- LyondellBasell Industries Holdings B.V.
Global Plastic Blow Molding Market: Research Scope
Global Plastic Blow Molding Market, by Type
- Polyethylene (PE)
- Polyethylene Terephthalate (PET)
- Polypropylene (PP)
- Polyvinyl Chloride (PVC)
- Polystyrene (PS)
- Acrylonitrile Butadiene Styrene (ABS)
Global Plastic Blow Molding Market, by Application
- Automotive & Transportation
- Building & Construction
- Electrical & Electronics
- Consumer Products
Global Plastic Blow Molding Market, by Molding Method
- Extrusion Blow Molding
- Injection Blow Molding
- Stretch Blow Molding
- Compound Blow Molding
- Rotational Blow Molding
Global Plastic Blow Molding Market, by Region
- North America
- Russia & CIS
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- South Africa
- Rest of Middle East & Africa
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.