The global blow molded plastic market is on a trajectory of substantial growth, driven by the unique manufacturing process of blow molding, particularly for creating hollow plastic parts. With a projected Compound Annual Growth Rate (CAGR) of 7.4% during the forecast period, the market is anticipated to reach a valuation of US$ 35,096.49 million by the year 2033, compared to its current valuation of US$ 15,775.34 million in 2023, as reported by Future Market Insights.
Blow molded plastic parts are formed from a variety of thermoplastic materials, including polypropylene, polyvinyl chloride, polyethylene, polyethylene terephthalate, polystyrene, and acrylonitrile butadiene styrene (ABS), among others. Several factors are driving the demand for blow molded plastic bottles, contributing to the overall growth of the market.
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Growth Propelling Aspects in the Blow Molded Plastic Market:
- Cost-effectiveness: The low cost associated with the production and manufacturing process of blow molded plastic bottles is a key driver of market expansion.
- Medical Sector Demand: The medical sector is increasingly adopting blow molded plastic bottles for packaging medicines, ensuring quality preservation without damage or degradation.
- Pharmaceutical Product Growth: The rise in pharmaceutical products has led to increased adoption of blow molded plastic bottles, further contributing to market growth.
- Food and Beverage Industry Preference: The food and beverage industry, accounting for over 70% of the global blow molded container market, is shifting towards eco-friendly and convenient packaging solutions, boosting demand for blow molded plastics.
- Price Reduction and Household Product Usage: Price reductions, coupled with the widespread use of household products requiring proper packaging, are driving market growth.
Factors Curbing Market Proliferation:
- Presence of Substitutes: Potential substitutes in the market may hinder the growth of the blow molded plastic market.
- Regional Trends and Regulatory Policies: Varied trends and regulatory policies across regions may impact the global market, particularly in terms of sustainability and biodegradability.
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Key Takeaways:
- Affordability and mass usage promote the market possibilities for the product.
- Awareness about adverse environmental impact may hamper the market growth.
- North America currently accounts for 27% of the total market share.
- Europe holds about 22% of the global market share.
Competitive Landscape
Alpha Packaging, Amcor Limited, APEX Plastics, Berry Plastics Corp., First American Plastic, Graham Packaging Co., HTI Plastics, Milacron, Plastipak Holdings, and Sidel, among others are some of the major players in the blow molded plastic market that are profiled in the full version of the report.
Major market players are focusing on tactics like mergers, acquisitions, partnerships and collaborations. These organizations also engage in patents and other promotional events to attain a competitive advantage.
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Key Segments in the Blow Molded Plastic Market
By Polymer:
- Polyethylene (PE)
- Polyethylene Terephthalate (PET)
- Polypropylene (PP)
- Polyvinyl Chloride (PVC)
- Polystyrene (PS)
- Acrylonitrile Butadiene Styrene (ABS)
- Others
By Application:
- Packaging
- Automotive & Transportation
- Consumables & Electronics
- Building & Construction
- Others
By Region:
- North America
- Latin America
- Asia Pacific
- The Middle East and Africa
- Europe
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer, Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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Future Market Insights Inc.
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Website: https://www.futuremarketinsights.com
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About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer, Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
Contact Us:
Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-845-579-5705
For Sales Enquiries: sales@futuremarketinsights.com
Website: https://www.futuremarketinsights.com
LinkedIn| Twitter| Blogs | YouTube
