17-Jan-2022 | Zion Market Research
As per study of Zion Market Research, Blow Molded Plastics industry amassed proceeds worth nearly US$ 76.1 billion in 2020 and is anticipated to accrue returns of approximately US$ 99.2 billion by 2028. Moreover, Blow Molded Plastics market is prognosis to record CAGR of almost 3.5% in 2021-2028. Furthermore, growth of blow molded plastics over forecast timespan is attributed to huge product demand across packaging, construction, and automotive industries, namely, BRICS nations. Additionally, rise in popularity of medical products & containers utilized in FMCG & consumer goods sectors will steer market size. Use of plastic in packaging activities on a large –scale will open new vistas of growth for blow molded plastics industry. Furthermore, macroeconomic factors are predicted to leverage expansion of blow molded plastics market in foreseeable future. However, ban on plastics has adversely impacted blow molded plastics market proceeds.
Extrusion Molding To Dominate Technology Segment By 2028
Growth of extrusion molding segment in 2021-2028 can be credited to its cost-effectiveness as compared to other technologies due to its low pressure requirement. Moreover, it can also be used in bulk production of packaging items, cans, and bottles. Additionally, cost of equipment used in extrusion molding process is lesser as compared to other molding procedures and hence it is massively utilized.
Polyethylene (PE) Blow Molded Plastics Market To Register Exponential Growth Over Forecast Timespan
Expansion of Polyethylene (PE) Blow Molded Plastics Market over assessment period can be credited to rise in utilization of PE products in packaging and electrical & electronic sectors. Reportedly, major use of Polyethylene (PE) includes large bottle grades utilized in packaging of food as well as chemical items.
Asia Pacific Market To Experience Seamless Growth Over Next Seven Years
Regional market expansion over coming years can be credited to rapid increase in GDP of emerging economies of APAC. Apart from this, local players are also contributing significantly towards growth of Asia Pacific blow molded plastics industry. Countries such as India, Japan, and China are likely to be key revenue drivers of Asia Pacific market in years to come.
Few of major participants are impacting market strongly and likely to do so even in near future. They are Rutland Plastics Ltd., Inpress Plastics Ltd., International Automotive Components (IAC) Group, Magna International, Inc., Agri-Industrial Plastics Co, Creative Blow Mold Tooling, The Plastic Forming Company, Inc., Comar, LLC, Garrtech, Inc., and Gemini Group, Inc.
Browse the full “Blow Molded Plastics Market- By Technology (Compound Blow Molding, Stretch Blow Molding, Extrusion Blow Molding, And Injection Blow Molding), By Application (PACKAGING, HEALTHCARE, Automotive & Transport, Consumables & Electronics, And Building & Construction), And By Product (Polyethylene Terephthalate (PET), Polyvinyl Chloride (PVC), Polystyrene (PS), Acrylonitrile Butadiene Styrene (ABS), Polypropylene (PP), And Polyethylene (PE)): Global Industry Perspective, Comprehensive Analysis, And Forecast, 2021–2028.” Report at https://www.zionmarketresearch.com/report/blow-molded-plastics-market
The global Blow Molded Plastics Market is segmented as follows:
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