The global blow molded plastics market size is anticipated to reach USD 121.8 billion by 2030, according to a new report by Grand View Research, Inc. It is projected to propel at CAGR of 5.3% from 2023 to 2030. Increasing requirement for substitution of glass, metals, wood, natural rubber, and man-made materials, such as concrete, is driving the global blow molded plastic market. Various products such as olefins, polystyrene, PVC, PET, and other plastics are rapidly replacing most materials in automotive, construction & infrastructure, medical & healthcare, and consumer goods applications.
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.
Less density associated with plastics helps increase fuel efficiency and improve machinery performance, thereby reducing carbon emissions. Carbon emissions are chemical compounds produced from poorly burnt fuels like natural gas, crude oil, and coal, which enter the surrounding air. Most carbon emissions are hazardous in nature and very detrimental to the environment and all living beings.
Some of the key players operating in the blow molded plastics market are 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.
Request a free sample copy or view report summary: Blow Molded Plastics Market Report
The market is valued at USD 80.5 billion in 2022 and is expected to reach USD 121.8 billion in 2030 at an estimated CAGR of 5.6% from 2022 to 2030, owing to the growing demand for plastic products and services, particularly in the emerging markets of Asia Pacific and Central and South America
The machinery and equipment cost of injection blow molding technology could range from USD 37,500 to USD 400,000, which is relatively higher than that of extrusion blow molding machinery. This anticipated to be a major disadvantage, mainly for the new market participants
Polypropylene is primarily used in flexible packaging of certain food and confectionery items, clothing, tobacco, and others. Apart from flexible packaging, it has vivid use in rigid packaging of PP bottles for mineral water and edible oils. It is also used in automotive, consumer products such as housewares, furniture, appliances, luggage, and other applications
Plastics composed on BPA breakdown when they are washed, heated, or stressed and can contaminate food and water through leaching from the packaging lining. This has also attracted various scientific studies to be performed, while regulatory agencies such as FDA and EFSA have put a partial ban and approved content
Application of blow molded plastics in medical sector has been very less in comparison to the other application segments. Amid the global COVID-19 pandemic situation, the demand for various pharmaceutical products, disinfectants, and sanitizers has increased. This, in turn, is driving the demand for blow molded plastics in medical application
Grand View Research has segmented the global blow molded plastics market report based on technology, product, application, and region:
Blow Molded Plastics Technology Outlook (Volume, Kilotons; Revenue, USD Million, 2018 - 2030)
Extrusion Blow Molding
Injection Blow Molding
Stretch Blow Molding
Compound Blow Molding
Blow Molded Plastics 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
Blow Molded Plastics Application Outlook (Volume, Kilotons; Revenue, USD Million, 2018 - 2030)
Packaging
Consumables & Electronics
Automotive & Transport
Building & Construction
Medical
Others
Blow Molded Plastics Regional Outlook (Volume, Kilotons; Revenue, USD Million, 2018 - 2030)
North America
U.S.
Canada
Mexico
Europe
Germany
U.K.
France
Italy
Asia Pacific
India
China
Japan
Central & South America
Brazil
Argentina
Middle East & Africa
GCC Countries
South Africa
List of Key Players of Blow Molded Plastics Market
Magna International Inc.
INTERNATIONAL AUTOMOTIVE COMPONENT GROUP S.L.
Berry Global, Inc.
Pet All Manufacturing Inc.
Inpress Plastics Ltd.
Dow, Inc.
Comar, LLC
Rustland 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.
"The quality of research they have done for us has been excellent..."