Blow Molded Plastics Market Size, Share & Trends Analysis Report By Technology (Extrusion, Injection, Stretch, Compound), By Product (Polypropylene, Polyethylene), By Application, By Region, And Segment Forecasts, 2023 - 2030

Report Overview

The global blow molded plastics market size was estimated to be USD 80.47 billion in 2022 and is anticipated to witness a compound annual growth rate (CAGR) of 5.3% from 2023 to 2030. The market is driven by a shift in trends toward replacing glass & metal and increasing investments in the construction industry. Blow molded plastics are widely used for different applications such as concrete forms of all shapes and sizes, panels, barricades, and traffic markers in the building & construction industry. Industries such as construction, packaging, and automotive are the primary industries propelling the demand for blow molded plastic products and services.

The demand for blow molded plastics across the U.S. is majorly generated by the expanding automotive industry, on account of the popularity of electric vehicles, and the rise in the number of construction activities. The U.S. has witnessed a huge growth in construction projects in the recent past.

The U.S. federal government is planning to invest USD 2 trillion over a period of 10 years for infrastructure development. The country is characterized by a low-risk environment, a stable economy, and a robust financial sector. These factors have provided a multitude of opportunities for investors in recent years, which are likely to trigger infrastructure spending in the country.

Technology Insights

The injection blow molding technology segment accounted for over 26%, in terms of revenue, of the overall market share in 2022. The cost of extrusion blow mold is lower than the injection blow mold due to the lower pressure requirement in the former. The machinery costs are also lower for extrusion blow mold, which is an added advantage for the process.

Stretch blow molding technology is used for producing high-clarity and high-quality bottles and has limited usage in the industry. It is applied for the manufacturing of soda bottles, personal care containers, and household cleaner containers, among others. Stretch blow molded plastics are produced mainly on customized orders from customers.

Product Insights

The polyethylene (PE) segment accounted for over 20% of the overall market share, in terms of revenue, in 2022. PE compounds are commonly used in the packaging and electrical and electronics industries. Major packaging applications of PE compounds include different grades of bottles used for packing a wide range of products such as food and chemical products.

PET has several applications in the packaging industry, including manufacturing bottles intended for the packing of food & beverage products. In this global COVID-19 pandemic situation, the demand for polypropylene and polyethylene terephthalate is expected to grow on account of the rising demand for face masks, protective gowns, and packaging bottles for hand sanitizers.

Application Insights

Packaging emerged as the leading application segment with over 39% revenue share of the overall blow molded plastics market in 2022. The packaging industry is majorly driven by high consumerism in emerging economies. The growth of the packaging industry is likely to boost the demand for plastic compounds such as polyethylene and PET in the coming years.

The demand for blow molding plastics is increasing primarily in packaging applications, owing to the rising demand for plastic bottles for hand sanitizers, disinfectants, household cleaning liquids, and others to tackle the COVID-19 pandemic situation. Automotive & transportation was the second-largest application segment with a volume share of above 20% in 2022.

The increasing incorporation of plastics in automotive components and the simultaneous rise in the production of electric passenger cars and heavy-duty vehicles, particularly in Asia and Central and South America, are expected to propel the growth of the automotive & transportation application segment over the forecast period.

Regional Insights

Asia Pacific was the leading regional blow molded plastics market and accounted for over 38% of the total market revenue in 2022. Increasing infrastructure spending, coupled with the growing automobile demand in countries such as China, India, Indonesia, and Malaysia, is expected to drive the demand for blow-molded plastics in the Asia Pacific region.

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

In Europe, the market is expected to witness slow growth 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.

Landfill bans have existed for decades in many European countries such as France, Denmark, Germany, and Austria. High landfill tipping fees, dumping tariffs, waste management, and closing costs of landfills have encouraged the European population to switch to recycled products. Zero Waste Europe is an organization that works with the European Commission to bring residual waste close to zero.

Key Companies & Market Share Insights

Major players in the market include Magna International, Inc.; INTERNATIONAL AUTOMOTIVE COMPONENTS GROUP, S.L. (IAC Group); Berry Global, Inc.; Pet All Manufacturing, 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.; Machinery Center, Inc.; Custom-Pak Ltd.; APEX Plastics; INEOS Group; LyondellBasell Industries Holdings B.V.; Exxon Mobil Corporation; and Exxon Mobil Corporation.

Major players, in particular, compete based on application development capability and new technologies used in product formulation. For instance, recently, the Cyprus-based company Cypet Technologies Ltd. developed a new technology for one-step injection blow molding to produce large 120 liters of polyethylene terephthalate (PET) drums. This technology is distinct from traditional injection molding methods since the technology molds the preforms horizontally for the opening direction of the mold to be horizontal. Some of the prominent players in the global blow molded plastics market include:

• Magna International, Inc.

• INTERNATIONAL AUTOMOTIVE COMPONENTS GROUP, S.L. (IAC Group)

• Berry Global, Inc.

• Pet All Manufacturing, 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.

• Machinery Center, Inc.

• Custom-Pak, Inc.

• APEX Plastics

• INEOS Group

• LyondellBasell Industries Holdings B.V.

• Exxon Mobil Corporation

• Gemini Group, Inc.

Blow Molded Plastics Market Report Scope

Global Blow Molded Plastics Market Segmentation

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2018 to 2030. For the purpose of this study, Grand View Research has segmented the global blow molded plastics market report based on technology, product, application, and region:

• Technology Outlook (Volume, Kilotons; Revenue, USD Million, 2018 - 2030)

  • Extrusion Blow Molding

  • Injection Blow Molding

  • Stretch Blow Molding

  • Compound Blow Molding

• Product Outlook (Volume, Kilotons; Revenue, USD Million, 2018 - 2030)

  • Polypropylene (PP)

  • Acrylonitrile Butadiene Styrene (ABS)

  • Polyethylene (PE)

  • Polystyrene (PS)

  • Polyvinyl Chloride (PVC)

  • Polyethylene Terephthalate (PET)

  • Polyamide (PA)

    • Polyamide 6

    • Polyamide 66

  • Others

• Application Outlook (Volume, Kilotons; Revenue, USD Million, 2018 - 2030)

  • Packaging

  • Consumables & Electronics

  • Automotive & Transport

  • Building & Construction

  • Medical

  • Others

• Regional Outlook (Volume, Kilotons; Revenue, USD Million, 2018 - 2030)

  • North America

    • U.S.

    • Canada

    • Mexico

  • Europe

    • Germany

    • U.K.

    • France

    • Italy

  • Asia Pacific

    • China

    • India

    • Japan

  • Central & South America

    • Brazil

    • Argentina

  • Middle East & Africa

    • GCC Countries

    • South Africa