Blow Molded Plastics Market Size, Share & Trends Report

Blow Molded Plastics Market Size, Share & Trends Analysis Report By Technology (Extrusion, Injection, Stretch), By Product (Polypropylene, ABS, PE, Polystyrene, PVC, PET), By Application, And Segment Forecasts, 2020 - 2027

  • Published Date: Jun, 2020
  • Base Year for Estimate: 2019
  • Report ID: GVR-1-68038-574-8
  • Format: Electronic (PDF)
  • Historical Data: 2016 - 2018
  • Number of Pages: 159

Report Overview

The global blow molded plastics market size was valued at USD 77.9 billion in 2019 and is expected to grow a compound annual growth rate (CAGR) of 2.8% from 2020 to 2027. Growing demand from key application markets including construction, automotive, and packaging, particularly in Brazil, Russia, India, China, and South Africa (BRICS), is expected to drive the market growth. Amid the global COVID-19 pandemic, the demand for various pharmaceutical products, disinfectants, and sanitizers have increased. This, in turn, is driving the demand for blow molded plastics in medical applications. The segment is expected to expand at the fastest pace than consumables and electronics and building and construction segments.

U.S. blow molded plastics market size

There has been a surge of capacity addition in high growth regions such as Middle East and Asia Pacific. These regions are creating a consistent demand for these types of plastics in addition to helping in reducing the overall manufacturing cost.

Manufacturers are demanding machines that can deliver higher accuracy, greater cost efficiency, and maximum flexibility to offset the significantly rising cost of production from several demanding application sectors such as packaging, automobile, medical, electronics, and construction.

Europe's blow molded plastics market is expected to witness slow growth over the forecast period, owing to various factors such as stalled industrial output caused by the COVID-19 pandemic, rising unemployment, and debt crisis. However, a positive scenario across Eastern Europe, in terms of consumerism and manufacturing, is expected to drive the market.

The European market for blow molded plastics is characterized by the presence of various stringent environmental regulations laid out by regulatory bodies such as the European Chemicals Agency (ECHA) and European Commission among other federal-level agencies.

Technology Insights

Extrusion blow molding technology segment led the market and accounted for more than 35.0% share of the global revenue in 2019. Extrusion process is comparatively cheaper than the other counterparts and hence majorly utilized in bulk manufacturing packaging products, bottles, and cans.

The cost of extrusion blow mold is lower than the injection blow mold due to the lower pressure requirements in the former. The machinery costs are also lower for extrusion blow mold, which is an added advantage for the process such as low-cost production and low post processing. Molding of external threads is also easy and cheap with the extrusion blow molding process, and the cost of labor employment reduces on using extrusion technology. Hence, it is expected to be the largest technology segment over the forecast period.

Injection blow molding offers the advantage to manufacture more complex products in several designs and shapes that otherwise would be impossible or difficult with other technologies and the cost of the end products would be considerably higher as well. Injection blow molding enables the companies to increase their production output in a relatively shorter time period along with flexibility in terms of design and materials that can be used. However, it has a few disadvantages such as high machinery cost and large-size machinery, which occupies greater space.

Stretch blow molding technology is used for the production of high clarity and quality bottles and has limited use in the industry. The demand for compound blow molding technique is majorly driven by the automobile industry as this is used for manufacturing extremely high-performance customized auto components. High requirement for lightweight specialized auto parts in both the OEM and aftermarkets is estimated to steer future demand.

Product Insights

Polyethylene product segment led the market and accounted for more than 20.0% share of the global revenue in 2019. This significant share is attributable to the increasing use of PE compounds in the packaging and electrical and electronics industries. Major packaging applications of PE compounds include different grades of bottles used in packaging a wide range of products such as food and chemical products.

Apart from the packaging industry, construction is one of the leading application industries for polyethylene compounds. Polyethylene is used for prototype development on computer numerical control machines and 3D printers. High-density polyethylene offers easy processing at low cost, good moisture barrier, and holds the ability to produce opaque and hollow packaging products. Low-density polyethylene is often preferred, based on the field of application, due to the low cost of production, heat-seal ability, high clarity, high elongation, and softness.

The demand for polyethylene terephthalate (PET) in packaging is expected to gain traction over the forecast period. Recent developments in PET bottle disposal and recycling have offset the limitations caused by regulations. Moreover, the development of bio-based PET is expected to provide the much-needed scope for internal substitution, thereby driving its demand in various applications. PET is widely used in the plastic bottling of soft drinks and for specialty bottling such as beer bottling. It is an ideal material for flexible food packaging and thermal insulation owing to some of its properties. PET is often used as a substrate in thin-film solar cells.

Application Insights

The packaging application segment led the market and accounted for more than 38.0% share of the global revenue in 2019. This significant share is attributable to the increasing use of packaging products, driven by high consumerism in emerging economies, shall drive demand for plastic compounds such as polyethylene and PET in future.

The packaging industry is driven by the rising demand for personal protective kits, face masks, face shields, and others along with high consumerism in emerging economies. The growth of the packaging industry is projected to boost the demand for plastic compounds such as polyethylene and PET in the future.

Various regulatory bodies have stipulated guidelines regarding packaging materials in food contact applications. Bisphenol A (BPA), which is often employed to produce plastics and epoxy resins, has been under great regulatory scrutiny, particularly due to its abundant presence in plastics used in packagings, such as PVC and polycarbonate.

Global blow molded plastics market share

Polypropylene is primarily used in flexible packaging of certain food & confectionery items, clothing, tobacco, and others. Apart from flexible packaging, it has vivid use in the rigid packaging of PP bottles for mineral water and edible oil. It is also used in automotive, consumer products such as housewares, furniture, appliances, luggage, and other applications.

Sales of these goods are highly dependent on the buying habits of the consumer and hence the buying habits have a huge impact on blow molded plastics dynamics applications. Growing population, economic development, and improved purchasing power in the markets of Central and South America and Asia Pacific are likely to boost consumer goods sales, thereby propelling the demand.

Regional Insights

The Asia Pacific dominated the market and accounted for over 33.0% share of global revenue in 2019. A favorable economic situation and the emergence of several domestic manufacturers with sound technological capabilities at lower costs as compared to the mature economies in Europe and North America have assisted in the development of the region over the past few years. China has been the major manufacturing hub, has witnessed the fabulous growth of the end-use sectors that consume these blow molded plastic compounds.

North America is expected to witness slow growth as the cross-border trade among the economies got affected on account of the COVID-19 pandemic. The market is primarily driven by the rising demand for polypropylene and ABS in packaging application segment for manufacturing bottles, face masks, and face shields among others.

The demand in various application segments, including packaging, consumables and electronics, automotive and transportation, building and construction, and medical, is expected to rise post the COVID-19 pandemic.The North America region is one of the largest consumers of plastics owing to the high product demand from automotive, consumer products and electronics, packaging, and construction sectors.

Plastics have many applications in various industries due to their benefits such as moldability of the desired shape. Many automobile manufacturers prefer plastic vehicle parts, which help achieve low-cost production and increase the bottom-line profit margin of the companies.

Key Companies & Market Share Insights

Most of the key players operating in the market have integrated their raw material production and distribution operations to maintain product quality and expand regional presence. This provides companies a competitive advantage in the form of cost benefits, thus increasing the profit margins. Companies are undertaking research and development activities to develop new industrial plastics to sustain market competition and changing end-user requirements.

Companies are focusing towards mergers and acquisitions to expand their geographical presence for instance, in July 2019, Berry Global, Inc. the acquisition of RPC Group Plc (“RPC”) engaged in the manufacturing of consumer packaging, engineering materials, and healthcare products. The acquisition is in line with the company strategy to reduce operational cost and integration in the value chain. Some of the prominent players in the blow molded plastics market include:

  • 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.

  • Custom-Pak

  • APEX Plastics

  • INEOS Group

  • Berry Global, Inc.

  • Dow Inc.

  • LyondellBasell Industries Holdings B.V.

Blow Molded Plastics Market Report Scope

Report Attribute

Details

Market size value in 2020

USD 79.1 billion

Revenue forecast in 2027

USD 96.2 billion

Growth Rate

CAGR of 2.8% from 2020 to 2027

Base year for estimation

2019

Historical data

2016 - 2018

Forecast period

2020 - 2027

Quantitative units

Volume in kilotons and revenue in USD million & CAGR from 2020 to 2027

Report coverage

Volume forecast, revenue forecast, competitive landscape, growth factors and trends

Segments covered

Product, technology, application, region

Regional scope

North America; Europe; Asia Pacific; Central & South America; Middle East & Africa

Country Scope

U.S.; Canada; Mexico; Germany; U.K.; France; Italy; China; India; Japan; Brazil; Saudi Arabia

Key companies profiled

Magna International, Inc.; International Automotive Components (IAC) Group; Berry Global, Inc.; Inpress Plastics Ltd.; Dow Inc.; Comar, LLC; Rutland Plastics Ltd; The Plastic Forming Company, Inc.; Agri-Industrial Plastics; Garrtech, Inc.; Creative Blow Mold Tooling; North American Plastics, Ltd.; Custom-Pak; APEX Plastics; INEOS Group; LyondellBasell Industries Holdings B.V.; Gemini Group, Inc.

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Segments Covered in the Report

This report forecasts revenue and volume growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2016 to 2027. For the purpose of this study, Grand View Research has segmented the global blow molded plastics market report on the basis of technology, product, application, and region:

  • Technology Outlook (Volume, Kilotons; Revenue, USD Million, 2016 - 2027)

    • Injection Blow Molding

    • Extrusion Blow Molding

    • Stretch Blow Molding

    • Compound Blow Molding

  • Product Outlook (Volume, Kilotons; Revenue, USD Million, 2016 - 2027)

    • Polypropylene (PP)

    • Acrylonitrile Butadiene Styrene (ABS)

    • Polyethylene (PE)

    • Polystyrene (PS)

    • Polyvinyl Chloride (PVC)

    • Polyethylene Terephthalate (PET)

    • Others

  • Application Outlook (Volume, Kilotons; Revenue, USD Million, 2016 - 2027)

    • Packaging

    • Consumables & Electronics

    • Automotive & Transport

      • HVAC Ducts

      • Air Intake Ducts

      • Others

    • Building & Construction

    • Medical

    • Others

  • Regional Outlook (Volume, Kilotons; Revenue, USD Million, 2016 - 2027)

    • North America

      • U.S.

      • Canada

      • Mexico

    • Europe

      • Germany

      • U.K.

      • France

      • Italy

    • Asia Pacific

      • China

      • India

      • Japan

    • Central & South America

      • Brazil

    • Middle East & Africa

      • Saudi Arabia

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