Growing Demand from the Healthcare Industry is expected to Propel the Growth of the Global Blow Molding Plastics Market at a CAGR of over 5.00%

Pune, India, March 2021, MRFR Press Release/- Market Research Future has published a Cooked Research Report on the Global Blow Molding Plastics Market.

Market Highlights

Global Blow Molding Plastics Market is projected to be valued at over USD 96 Billion by 2030 and exhibit a moderate CAGR of around 5.00 during the forecast period.

The automotive industry is estimated to be the strongest driver of the global blow molding plastics industry. Manufacturers are readily focusing on developing high-performance, lightweight materials to increase fuel efficiency and reduce flue gas emissions due to increasing regulations in the automotive industry. Blow molding plastics are preferably used in interior and exterior components such as door locking systems, consoles, braking components, trunks, overhead bins, drain tubes, and HVAC ducts.

Moreover, global automobile production is growing at a significant rate across the globe. As per MRFR analysis, the automotive sector has a promising future for blow molding plastics for the next five years. The total automotive production pegged at 91.7 million units in 2019, wherein China emerged as the leading manufacturer of commercial and consumer vehicles and accounted for around 25.72 million units in 2019.

The growth of the global blow molding plastics market is primarily driven by the significantly rising demand from the packaging industry. The global packaging industry is showing remarkable growth for the last five years due to the growing demand from industry verticals such as food & beverages, pharmaceuticals, personal care & cosmetics, and e-commerce. Some of the commonly used plastics for packaging are polyethylene (PE), polypropylene (PP), polyethylene terephthalate (PET), polystyrene (PS), and polyurethane (PU). Blow molding plastics are used widely for rigid packaging owing to their low cost, toughness, resistance to chemicals, and good moisture barrier properties.          

Packaging plays a crucial role in improving the aesthetic appeal and marketing of personal care and home care products. In addition to this, blow molding plastics have high chemical resistance and, therefore, are widely used to produce home care product bottles such as detergent bottles, bleach bottles, and different household cleaning bottles. Personal care applications typically require excellent aesthetics and a good balance of top load and drop impact performance. Hence, they are used to produce personal care product bottles such as shampoo bottles, conditioner bottles, oil bottles, and other cosmetic products bottles.

Blow molding plastics are widely used in a multitude of end-use applications. However, its recyclability and stringent government regulations over the use of plastics have led to the emergence of substitutes.  

Segment Analysis

Global Blow Molding Plastics Market has been segmented based on Type and Application.

The global blow molding plastics market, based on type, is segmented into polypropylene, polyethylene, polystyrene, acrylonitrile butadiene styrene, polyvinyl chloride, polyethylene terephthalate, and others. Low-density polyethylene (LDPE) and high-density polyethylene (HDPE) are the types of polyethylene for the blow molding plastic process. HDPE is a commonly used polymer as it can be easily colored, molder-friendly, chemically inert, and translucent material. It finds applications in household cleaning products, shampoo bottles, toys, fuel tanks, carrying cases, and industrial drums. LDPE has good electrical insulation, waterproof property, resistant to acids and bases, and easily moldable and process. It is generally used for products that require flexibility or a high level of stress crack resistance. It is primarily used in caps & closures, squeezed bottles, boat fenders, and traffic channelizers.

By application, the global blow molding plastics market has been segmented into packaging, automotive & transportation, building & construction, consumables & electronics, and others. The packaging industry is one of the fastest-growing globally and was valued at over USD 700 billion in 2018 and is projected to register strong growth in the near future, according to the Federation of Indian Chambers of Commerce & Industry (FICCI). Blow mold plastic packaging is most often employed in jug and bottle shapes used for liquid. Various packaging applications include food containers, plastic boxes, barrels, cans, toy balls, oil bottles, chemical containers, and medicine bottles.

Key Players

MRFR has identified the following companies as the Key Players in the global Blow Molding Plastics Market — LyondellBasell Industries Holdings B.V. (The Netherlands), Berry Global Inc (US), INEOS (UK), Magna International Inc (Canada), IAC Group (Luxembourg), Comar, LLC (US), Inpress Plastics Ltd (UK), Rutland Plastics Ltd (UK), Garrtech Inc. (Canada), Gemini Group, Inc (US), Plastic Forming Company Inc (US), and North American Plastics Ltd (US).Browse Full Report Details @  Blow Molding Plastics Market Trends