India Blow Molded Plastics Market Size & Outlook, 2023-2030
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India blow molded plastics market highlights
- The India blow molded plastics market generated a revenue of USD 9,092.6 million in 2023 and is expected to reach USD 14,217.2 million by 2030.
- The India 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.
Blow molded plastics market data book summary
| Market revenue in 2023 | USD 9,092.6 million |
| Market revenue in 2030 | USD 14,217.2 million |
| Growth rate | 6.6% (CAGR from 2024 to 2030) |
| Largest segment | Injection blow molding |
| Fastest growing segment | Injection blow molding |
| Historical data | 2018 - 2022 |
| Base year | 2023 |
| Forecast period | 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, India accounted for 11.4% of the global blow molded plastics market in 2023.
- Country-wise, China is expected to lead the global market in terms of revenue in 2030.
- In Asia Pacific, China blow molded plastics market is projected to lead the regional market in terms of revenue in 2030.
- China is the fastest growing regional market in Asia Pacific and is projected to reach USD 18,944.2 million by 2030.
Injection blow molding was the largest segment with a revenue share of 35.2% in 2023. Horizon Databook has segmented the India 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.
Plastic industry is a significant contributor to various key sectors, such as automotive, healthcare, electronics, textiles, construction, and FMCG sectors and the economic development of India. The demand for plastic has been growing rapidly owing to the strong chemical sector, which is contributing to the growth of plastic industry.
Till 2016, India was a net importer of polyethylene; however, with the establishment of a new manufacturing plant at Panipat, the import of polyethylene has declined significantly. India is expected to offer a substantial opportunity for manufacturing of petrochemicals over the forecast period.
The government has planned to increase the GDP contribution of manufacturing from 18% in 2016 to 25% by 2022. The urbanization, growing income levels, and increasing demographic dividend, all are supporting the growth of demand and supply of petrochemicals in the country. Plastic is the primary product that consumes a significant amount of petrochemicals in India.
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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 |
India blow molded plastics market size, by technology, 2018-2030 (US$M)
India Blow Molded Plastics Market Outlook Share, 2023 & 2030 (US$M)
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