Global $98.7 Bn Blow Molded Plastics (PP, ABS, PE, PVC) Markets to 2028: Shift In Trends Towards Replacement of Glass & Metals & Growing Construction Spending in Emerging Markets
Dublin, Oct. 11, 2021 (GLOBE NEWSWIRE) -- The "Global Blow Molded Plastics Market 2021-2028" report has been added to ResearchAndMarkets.com's offering.
The global blow molded plastics market size is anticipated to reach USD 98.7 billion by 2028, growing at a CAGR of 3.3%
The global industry is expected to witness significant growth over the forecast period owing to increasing product demand from various application industries.
In the past few years, there has been a significant growth in technologies and equipment for manufacturing these plastics, which has enabled manufacturers to cater to specific requirements of several application industries, such as automotive, building & construction, packaging, and others.
Polyethylene Terephthalate (PET) has several applications in the packaging industry including in manufacturing bottles intended for the packaging of food & beverage products.
This is expected to drive its demand over the forecast period. During the Covid-19 pandemic, the demand for Polypropylene (PP) and PET is expected to grow on account of the increased usage of face masks, protective gowns, and packaging bottles for hand sanitizers.
Extrusion blow molded plastics was the largest and the fastest-growing technology segment in 2020. This technology is a revolutionary form of the blow molding process. One of the main advantages of this process is that it enables the manufacturers to increase output along with the efficiency of providing customized products. Moreover, lower mold cost as compared to other processes makes it a cost-effective technology.
Blow Molded Plastics Market Report Highlights
The global market was valued at USD 75.7 billion in 2020 and is estimated to grow at a CAGR of 3.3% from 2021 to 2028
Polyethylene (PE) was the largest product segment in 2020. PE compounds are dominantly used across various industries and have been an integral material for the packaging industry
Acrylonitrile Butadiene Styrene (ABS) is estimated to emerge as the fastest-growing product segment from 2021 to 2028
This growth can be credited to the increasing demand for ABS from the automobile industry for the manufacturing of enclosures for electrical and electronic assemblies, automotive trim components, and protective headgears
Asia Pacific accounted for over 33% of the overall revenue share in 2020. China led the market in the Asia Pacific region
Favorable federal regulations by agencies, such as the Environmental Protection Agency (EPA), California Air Resources Board (CARB), and Scottish Environmental Protection Agency (SEPA), regarding carbon emissions along with the EU initiatives to develop blow molding applications for manufacturing lightweight and fuel-efficient cars are likely to boost the growth of the global market
Blow Molded Plastics Market Variables, Trends, And Scope
Market Lineage Outlook
Global Plastics Market
Blow Molded Plastics Market
Global Blow Molded Plastics Industry Value Chain Analysis
Raw Material Trends
Ethylene
Propylene
Styrene
Manufacturing Trends
Technology Trends
Dual-Shot Blow Molding
Wit
Git
Market Driver Analysis.
Shift In Trends Towards Replacement Of Glass & Metals
Growing Construction Spending In Emerging Markets
Market Restraint Analysis
Growing Bio-Based Polymers Industry
Companies Mentioned
Magna International, Inc.
International Automotive Components Group
Berry Global, Inc.
Pet All Manufacturing, Inc.
Inpress Plastics Ltd
The Dow Chemical Company
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
APEX Plastics
INEOS Group
LyondellBasell Industries Holdings B.V.
ExxonMobil
Gemini Group, Inc.
For more information about this report visit https://www.researchandmarkets.com/r/rupqq
CONTACT: CONTACT: ResearchAndMarkets.com Laura Wood, Senior Press Manager press@researchandmarkets.com For E.S.T Office Hours Call 1-917-300-0470 For U.S./CAN Toll Free Call 1-800-526-8630 For GMT Office Hours Call +353-1-416-8900