Global “Blow Molded Plastics Market” is expected to grow at a steady growth during the forecast period 2020-2027, Blow Molded Plastics Market report offers insights into the latest trends. It summarizes key aspects of the market, with focus on leading key player’s areas that have witnessed the highest demand, leading regions and applications. It offers qualitative as well as quantitative information regarding the factors, challenges, and opportunities that will define the growth of the market over 2020-2027, The Report Contain Many Pages With Detailed Analysis.
According to the latest market research report on Blow Molded Plastics Market from Fortune Business Insights™, The global blow molded plastics market size is projected to reach USD 100.13 billion by the end of 2027. The increasing applications of the product in the packaging industry will have a huge impact on the growth of the global market. The presence of several large scale companies in this sector will emerge in favor of the growth of the global market. According to a report published by Fortune Business Insights, titled “Blow Molded Plastics Market Size, Share & COVID-19 Impact Analysis, By Resin (Polyethylene Terephthalate (PET), Polyethylene (PE), Polypropylene (PP), Polyvinyl Chloride (PVC), Polystyrene (PS), Acrylonitrile butadiene styrene (ABS)), By Molding Method (Extrusion Blow Molding, Injection Blow Molding, Stretch Blow Molding, Rotational Blow Molding), By Application, and Regional Forecast, 2020-2027,” the market was worth USD 77.07 billion in 2019 and will exhibit a CAGR of 2.8% during the forecast period, 2020-2027.
Blow molding is a cost-effective way of manufacturing plastics wherein a heated plastic is molded into a cavity that eventually forms a hollow material or object. The high efficiency of this product, coupled with its low cost, makes it a preferred choice among manufacturers.
The massive investments in upgrading manufacturing methods and increasing efforts in product R&D will have a huge impact on the growth of the overall market in the coming years. The presence of several large scale manufacturers across the world, driven by the rising demand and applications of the product will bode well for the growth of the market in the coming years. Additionally, the increasing applications of blow-molded plastics across diverse industry verticals will create several growth opportunities.
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List of the Leading Companies Profiled in the Global Blow Molded Plastics Market Report are:
- Apex Plastics (U.S.)
- Inpress Plastics Ltd. (UK)
- Garrtech, Inc. (Canada)
- Berry Global, Inc. (U.S.)
- Comar, LLC (U.S.)
- Rutland Plastics Ltd. (UK)
- The Plastic Forming Company, Inc. (U.S.)
- Agri-Industrial Plastics (U.S.)
- Creative Blow Mold Tooling (U.S.)
- North American Plastics, Ltd. (U.S.)
- INEOS Group (UK)
Although Product Demand is High, Covid-19 Pandemic to affect Manufacturing Sectors
The recent coronavirus outbreak has created a sense of panic across the world. Although the impact on the pandemic on the blow moulded plastics is nowhere close to what a few other industries have witnessed, there are still a few drawbacks. The efforts taken to curb the spread of the disease have had a negative impact on the market in recent years.
Accounting to the rapid spread of the disease, manufacturing sectors have been shut down due to lack of manpower and human labor. As a result, there is a huge demand-supply gap in the global market. The slow recovery rate will affect the growth of the market in the foreseeable future.
Company Mergers and Acquisitions are an Increasing Trend Among Major Companies Across the world
The report encompasses several factors that have contributed to the growth of the overall market in recent years. Accounting to the massive demand and increasing applications of blow-molded plastics across the world, companies are focusing on adopting strategies that will help them standout in the competitive environment.
In June 2020, Alpha announced that it has completed the acquisition of Bopla S.A. Alpha’s packaging solutions will be enhanced by Bopla’s blow molded and injection solutions. The latter holds an exceptional portfolio in the blow molding segment and this acquisition will not just help Alpha grow but will also influence the growth of the overall blow molded plastics market in the foreseeable future. The report highlights a few other company mergers of recent times and discusses their impact on the global market.
Asia Pacific to Emerge Dominant; Demand for Innovative Packaging Solutions to Emerge in Favor of Market Growth
The report analyses the ongoing market trends across five major regions, including North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa. Among all regions, the market in Asia Pacific is projected to emerge dominant in the coming years. The rising demand for blow molded plastics in this region is consequential to the increasing applications in the food and beverage industry. The product is widely used as a packaging material in several other industries across this region.
The increasing population in countries such as India and China will cater to the increasing production capacities of manufacturers in this sector. As of 2019, the market in Asia Pacific was worth USD 37.96 million and this value is projected to rise at a considerable pace in the coming years.
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Some of the key questions answered in this report:
- What is the global (North America, Europe, Asia-Pacific, South America, Middle East and Africa) sales value, production value, consumption value, import and export of Blow Molded Plastics?
- Who are the global key manufacturers of the Blow Molded Plastics Industry? How is their operating situation (capacity, production, sales, price, cost, gross, and revenue)?
- What are the Blow Molded Plastics market opportunities and threats faced by the vendors in the global Blow Molded Plastics Industry?
- Which application/end-user or product type may seek incremental growth prospects? What is the market share of each type and application?
- What focused approach and constraints are holding the Blow Molded Plastics market?
- What are the different sales, marketing, and distribution channels in the global industry?
- What are the upstream raw materials and manufacturing equipment of Blow Molded Plastics along with the manufacturing process of Blow Molded Plastics?
- What are the key market trends impacting the growth of the Blow Molded Plastics market?
- Economic impact on the Blow Molded Plastics industry and development trend of the Blow Molded Plastics industry.
- What are the market opportunities, market risk, and market overview of the Blow Molded Plastics market?
- What are the key drivers, restraints, opportunities, and challenges of the Blow Molded Plastics market, and how they are expected to impact the market?
- What is the Blow Molded Plastics market size at the regional and country-level?
January 2020: Comar announced that it has completed the acquisition of iMARK Molding. The former is a supplier of rigid plastic packaging for food & beverages, medical, and and electronics acquired.
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