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Blow-Molded Plastics Global Market Report 2022
Major players in the blow-molded plastics market are LyondellBasell Industries Holdings B. V. , Berry Global Inc. , Pet All Manufacturing Inc, Inpress Plastics Ltd, The Dow Chemical Company, Comar LLC, Rutland Plastics Ltd, The Plastic Forming Company Inc.
New York, June 06, 2022 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Blow-Molded Plastics Global Market Report 2022" - https://www.reportlinker.com/p06284142/?utm_source=GNW
, Agri-Industrial Plastics, Garrtech Inc, North American Plastics Ltd., Creative Blow Mold Tooling, Pet All Manufacturing Inc., Exxon Mobil Corporation, and APEX Plastics.
The global blow-molded plastics market is expected to grow from $86.39 billion in 2021 to $89.30 billion in 2022 at a compound annual growth rate (CAGR) of 3.4%. The market is expected to grow to $102.59 billion in 2026 at a CAGR of 3.5%.
The blow-molded plastics market system consists of sales of blow-molded plastics by entities (organizations, sole traders, and partnerships) that are involved in the manufacturing of hollow objects made of plastics.Blow molding is a plastic forming technique used to make hollow plastic products out of thermoplastic materials.
Blow molding is also a quick manufacturing solution and offers versatile products hence it is appealing to many industries such as food suppliers, medical and pharmaceutical companies, and others due to the wide range of customizable bottles, containers, and other products.
The main types of blow-molded plastics are polypropylene, acrylonitrile butadiene styrene (abs), polyethylene, polystyrene, PVC, PET, and other types.Polypropylene (also known as propane or propylene) is a tough, rigid, and crystalline thermoplastic made from a propane (or propylene) monomer.
Polypropylene is used in a variety of applications, including plastic packaging, machinery and equipment parts, and even fibers and textiles. Extrusion, injection, and stretch are the various technologies used in blow-molded plastics and the products are used in packaging, consumables and electronics, automotive and transport, building and construction, medical, and other applications.
Asia Pacific was the largest region in the blow-molded plastics market in 2021. The regions covered in the blow-molded plastics market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
Increased usage of face masks, protective gowns, and packaging bottles for hand sanitizers is expected to propel the growth of the blow-molded plastics market going forward.Due to the COVID-19 outbreak, the demand and sale of facemasks, hand sanitizers, and face shields have gained pace.
People are purchasing hand sanitizers in little bottles that are convenient to carry in their wallets or handbags.Blow molding is a technique for making hollow things such as bottles, face masks, and other packaging from hot liquid plastic.
For instance, according to the All Food and Drug License Holders Foundation (AFDLHF), an Indian association that represents 7,000 pharmaceutical suppliers, the total market for masks in India has grown to Rs 4.5 billion ($60 million) in the first two months in 2020 from about Rs 2 billion ($26.7 million) annually in 2019. Therefore, the increased usage of face masks, protective gowns, and packaging bottles for hand sanitizers will drive the growth of the blow-molded plastics market.
Increasing efforts in product R&D is a key trend gaining popularity in the blow-molded plastics market.Companies are investing in R&D to produce new industrial plastics to keep up with market competitiveness and meet evolving end-user demands.
For instance, in 2020, Comar, a US-based manufacturer, and designer of innovative plastic solutions announced the establishment of a customs facility in Rancho Cucamonga, US.The new 230,000square-foot facility will be Current Good Manufacturing Practice regulation (cGMP)-compliant, ISO 13485-certified, and FDA-registered, with dedicated injection blow molding, injection stretch blow molding, and injection molding cells.
The new facility will include a full-service mold prototyping lab as well as a specialized mold sample and development machine, allowing customers to quickly move from concept through design, prototype, and full production.
In October 2021, Recycler EFS-plastics Inc., a Canada-based post-consumer plastics recycler with a focus on processing bales of low-value plastics acquired Exi-Plast Custom Moulding Ltd. for an undisclosed amount. Through this acquisition, EFS can directly manufacture finished products with high levels of post-consumer recycled plastic for its customers. Exi-Plast Custom Moulding Ltd. is a Canadian company that provides custom plastic molding services, particularly in blow-molded solutions for designers, manufacturers, and distributors.
The countries covered in the blow-molded plastics market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, and USA.
Read the full report: https://www.reportlinker.com/p06284142/?utm_source=GNW
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