Asia Pacific Blow Molded Plastics Market Size & Outlook
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Asia Pacific blow molded plastics market highlights
- The Asia Pacific blow molded plastics market generated a revenue of USD 30,877.3 million in 2023.
- The market is expected to grow at a CAGR of 6.6% from 2024 to 2030.
- In terms of segment, injection blow molding was the largest revenue generating technology in 2023.
- Injection blow molding is the most lucrative technology segment registering the fastest growth during the forecast period.
- Country-wise, China is expected to register the highest CAGR from 2024 to 2030.
Asia Pacific data book summary
| Market revenue in 2023 | USD 30,877.3 million |
| Market revenue in 2030 | USD 48,192.8 million |
| Growth rate | 6.6% (CAGR from 2024 to 2030) |
| Largest segment | Injection blow molding |
| Fastest growing segment | Injection blow molding |
| Historical data covered | 2018 - 2022 |
| Base year for estimation | 2023 |
| Forecast period covered | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Extrusion blow molding, Injection blow molding, Strech blow molding, Compound Blow Molding |
| Key market players worldwide | Gemini Group Global Corp, Exxon Mobil Corp, LyondellBasell Industries NV Class A, INEOS, Magna International Inc, IAC Inc Ordinary Shares - New, Berry Global Group Inc, Dow Inc, Comar |
Other key industry trends
- In terms of revenue, Asia Pacific region accounted for 38.6% of the global blow molded plastics market in 2023.
- Globally, Asia Pacific is projected to lead the regional market in terms of revenue in 2030.
- Asia Pacific is the fastest growing regional market and is projected to reach USD 48,192.8 million by 2030.
Injection blow molding was the largest segment with a revenue share of 35.21% in 2023. Horizon Databook has segmented the Asia Pacific blow molded plastics market based on extrusion blow molding, injection blow molding, strech blow molding, compound blow molding covering the revenue growth of each sub-segment from 2018 to 2030.
Amid the global COVID-19 pandemic and lockdown, the demand for plastic resins and blow molded plastics has dropped significantly, which is expected to rise gradually as the lockdown is lifted, cross border trade is re-established, and industries begin to operate in full capacities. China, India, Malaysia, Indonesia, and others are expected to be the primary growth markets in the region.
Growing manufacturing sector shall drive the demand for plastic compounds in automotive, construction, packaging, and consumables & electronics industries. In the recent past, China and India have witnessed a spike in the production of automobiles owing to transfer of technology to this sector from western markets.
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Blow Molded Plastics Market Scope
Blow Molded Plastics Market Companies
| Name | Profile | # Employees | HQ | Website |
|---|---|---|---|---|
| Gemini Group Global Corp | View profile | 4 | 1708 E Altheimer Road, Richmond Hill, ON, Canada | https://www.geminigrpglobalcorp.com |
| IAC Inc Ordinary Shares - New | View profile | 9500 | 555 West 18th Street, New York, NY, United States, 10011 | https://www.iac.com |
| INEOS | View profile | 10001+ | Rolle, Geneve, Switzerland, Europe | http://www.ineos.com/ |
| Magna International Inc | View profile | 179000 | 337 Magna Drive, Aurora, ON, Canada, L4G 7K1 | https://www.magna.com |
| Comar | View profile | 251-500 | Voorhees, New Jersey, United States, North America | https://www.comar.com |
| Berry Global Group Inc | View profile | 44000 | 101 Oakley Street, Evansville, IN, United States, 47710 | https://www.berryglobal.com |
| Exxon Mobil Corp | View profile | 61500 | 22777 Springwoods Village Parkway, Spring, TX, United States, 77389-1425 | https://www.exxonmobil.com |
| LyondellBasell Industries NV Class A | View profile | 20000 | One Vine Street, 4th Floor, London, United Kingdom, W1J0AH | https://www.lyondellbasell.com |
| Dow Inc | View profile | 35900 | 2211 H.H. Dow Way, Midland, MI, United States, 48674 | https://www.dow.com |
Asia Pacific blow molded plastics market size, by country, 2018-2030 (US$M)
Asia Pacific Blow Molded Plastics Market Outlook Share, 2023 & 2030 (US$M)
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