Market Segmentation
Increasing demand for processed food, consumer goods, and beverages in the U.S., Canada and Mexico is a major factor driving packaging industry growth. High packaging demand from food and pharmaceutical sectors is expected to further complement market growth in the coming years. Plastics are gaining importance in packaging due their durability, temperature resistance, corrosion resistance, and ability to withstand wear & tear. Increasing demand for blow molded plastics in packaging applications such as caps & closures, industrial shipping pails, totes, and crates is anticipated to further drive the global market growth over the forecast period.
Plastics such as high-density polyethylene (HDPE), polypropylene, and polystyrene are major products used in packaging. Increasing penetration of HDPE in industrial packaging is expected to have a positive impact on the demand for plastics in the overall packaging industry over the forecast period. Plastic packaging items such as pouches, HDPE bottles etc. have been successful in gaining significant importance from packaged food packaging with benefits of environment friendliness and convenient handling options. This is owing to light weight nature and cost benefits in production of these plastic packaging items. Soft drinks packaging has occupied majority of shares in the plastic beverage packaging segment as companies offer personalized and customized packs. Growing demand for plastics in packaging industry is projected to drive the region’s blow molded plastics market in the coming years owing to the aforementioned factors.
One of the major factors inhibiting the global blow molded plastics market includes the environmental hazards associated with them. Plastics are derived from crude oil, which releases high amount of toxic gases into the environment during the production as well as ignition. The global carbon dioxide emissions are increasing due to rapid industrialization in developing countries. China is one of the largest CO2 emitting countries due to rapid infrastructure development and industrialization. The major carbon dioxide emitting industries, such as construction, transportation, and chemicals, are mushrooming in the country on a large scale. Over the past few years, the emissions from developed countries such as the U.S. and the European region have reduced owing to various environmental policies by the governments. The initiatives taken globally by several national organizations and governments are expected to restrain market growth over the forecast period. Research and development initiatives for innovation of substitute products have increased substantially in the past few years.
Increasing plastics incorporation in automotive components and simultaneous rise in passenger car and heavy-duty vehicle production, particularly in Asia and Central & South America, is expected to drive growth over the forecast period. Standardization of emission norms and vehicular weight regulations shall aid in the development of automotive segment in the future. Focus on vehicle weight reduction along with meeting the required standards and quality is expected to be the major factor for higher growth of this segment over the forecast period. Therefore, automobile application segment is placed in the high growth segment.
This section will provide insights into the contents included in this North America blow molded plastics market report and help gain clarity on the structure of the report to assist readers in navigating smoothly.
Industry overview
Industry trends
Market drivers and restraints
Market size
Growth prospects
Porter’s analysis
PESTEL analysis
Key market opportunities prioritized
Competitive landscape
Company overview
Financial performance
Product benchmarking
Latest strategic developments
Market size, estimates, and forecast from 2018 to 2030
Market estimates and forecast for product segments up to 2030
Regional market size and forecast for product segments up to 2030
Market estimates and forecast for application segments up to 2030
Regional market size and forecast for application segments up to 2030
Company financial performance