In 2023, the blow molded plastic market is valued at an impressive US$ 15,775.34 million. The future outlook for this market is exceedingly promising, with projections indicating a substantial increase in value. It is expected that by the year 2033, the blow molded plastic market will reach a significant milestone, soaring to an estimated US$ 35,096.49 million.
Experts at Future Market Insights have conducted a thorough analysis, revealing a historical compound annual growth rate (CAGR) of 6.9% for the blow molded plastic market. This demonstrates the resilience and growth potential of this industry, making it an area of considerable interest and investment in the years to come.
The blow molded parts are formed from various thermoplastic materials, including polypropylene, polyvinyl chloride, polyethylene, polyethylene terephthalate, polystyrene, and acrylonitrile butadiene styrene, among others.
The manufacturing process of blow molding is generally used to produce hollow plastic parts like light bottles, jars, and jugs. These blow molded parts are made from different thermoplastic materials like polypropylene, polyvinyl chloride, polyethylene, polyethylene terephthalate, polystyrene, and acrylonitrile butadiene styrene among others.
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Factors Curbing the Proliferation of the Blow Molded Plastic Market:
Although a plethora of market-driving factors has been identified, it is also estimated that certain factors are likely to impact the market growth in a negative way and slow down the pace of advancement for the blow molded plastic market in the coming years.
- The presence of potential substitutes in the market is likely to curb and hinder the growth of the blow molded plastic market.
- Trends and regulatory policies differ from region to region and are expected to impact the global blow molded plastic market.
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
Top Market Players Revolutionizing the Blow Molded Plastic Market
The prominent companies are focusing on organic and inorganic growth strategies such as product launches, product approvals, mergers and acquisitions, partnerships & collaborations, and others such as patents and events. The market players in the blow molded plastic market are anticipated to have lucrative growth opportunities in the coming years.
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Key Market Players:
- Alpha Packaging
- Amcor Limited
- APEX Plastics
- Berry Plastics Corp.
- First American Plastic
- Graham Packaging Co.
- HTI Plastics
- Milacron
- Plastipak Holdings
- Sidel
Competitive Landscape:
Top Market Players Revolutionizing the Blow Molded Plastic Market
The prominent companies are focusing on organic and inorganic growth strategies such as product launches, product approvals, mergers and acquisitions, partnerships & collaborations, and others such as patents and events. The market players in the blow molded plastic market are anticipated to have lucrative growth opportunities in the coming years.Three Biggies Stirring the Soup:
- Alpha Packaging: Alpha Packaging manufactures bottles and jars made from HDPE, PET, PP, and polylactic acid. The company provides several standard colors for PET and HDPE packaging and specializes in injection blow molding, extrusion blow molding, and injection stretch blow molding. The company serves nutritional, pharmaceutical, consumer chemicals, personal care, and food and beverage markets.
- Apex Plastics: APEX Plastics produces a range of blow molded bottles, containers, and specialty parts in several sizes that can hold content ranging from 2 to 128 ounces. The company specializes in proprietary and custom blow molded bottles, containers, and shapes. In March 2016, the company purchased and installed a new extrusion blow molding machine in its facility in Missouri, United States.
- Sidel: Sidel provides equipment for blowing machines, labeling machines, filling machines, blowing-filling-capping systems, complete lines, and end-of-line solutions. In May 2016, the company collaborated with Brazilian oil producer Algar Agro to produce the lightest 900 ml PET bottle for the edible oil industry with a reduction in weight by 22%.
Recent Developments:
In June 2021, Sidel (France) brought together two developers of PET bottle molds to form a new entity known as Competek, also in France. One of the entities is PET Engineering from Italy, which was acquired in 2018 by Sidel, while the other company is COMEP (France), which was acquired in 2019. Together, these entities develop over 1500 PET bottle molds as well as 100 perform molds every year, using a series of blow molding plastics.
In 2020, INEOS Olefins and Polymers USA announced that it had agreed on principle terms with Sasol Chemicals North America LLC to acquire its 50% membership interest in Gemini HDPE LLC for US$ 404 million. Gemini HDPE LLC is a toll manufacturer of bimodal high-density polyethylene products serving rapidly growing pipe and film markets.
In June 2019, LyondellBasell and Neste Corp., an oil refiner, made commercial-scale quantities of bio-based polypropylene and low-density polyethylene. The joint project used Neste Corp.’s renewable hydrocarbons derived from sustainable bio-based raw materials, such as waste and residue oils. The materials are approved for food packaging and are marketed under the Circulen and Circulen Plus brands.
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