Blow Molding Plastics Market Research Report: Information By Type [(Polyethylene (PE), Polyethylene Terephthalate (PET), Polypropylene (PP), Polyvinyl Chloride (PVC), Polystyrene (PS) and Acrylonitrile Butadiene Styrene (ABS)], Application (Packaging, Automotive & Transportation, Consumables & Electronics and Building & Construction) and Region (North America, Europe, Asia-Pacific, Latin America and the Middle East & Africa) - Forecast till 2027

Blow Molding Plastics Market Overview

Blow Molding Plastics Market is projected to witness moderate growth at a CAGR of over 4.3% to reach USD 95.8 Billion by 2027.

Blow molding is a manufacturing process used to create hollow plastic parts by inflating a heated plastic tube until it fills a mold and forms the desired shape. There are mainly three types of blow molding processes: extrusion blow molding, injection blow molding, and injection stretch blow molding. Blow-molded parts can be formed from various thermoplastic materials, including polyethylene, polyethylene terephthalate, polypropylene, polyvinyl chloride, polystyrene, and acrylonitrile butadiene styrene, amongst others.

The prominent factor driving the growth of the blow molding plastics market is the rising product demand from major end-use industries that include automotive and packaging. Advancements in technologies and ongoing research & development are expected to support the growth of the market during the forecast period. However, fluctuating raw material prices and the presence of potential substitutes are likely to hamper the growth of the market. Furthermore, the increased scope of applications and the rising demand from emerging countries are likely to create lucrative growth opportunities for the market. The outbreak of COVID-19 has resulted in the shutting of factories and businesses, canceled air transport routes, and lockdowns, negatively impacting the industry. However, with the lift of lockdown measures and trade restrictions, the demand is expected to gain pace and drive market growth.

Market Dynamics

The growth of the Global Blow Molding Plastics Market is primarily driven by the significantly rising demand from the packaging industry. The global packaging industry is showing remarkable growth for the last five years due to the growing demand from end-use industries such as food & beverages, pharmaceuticals, personal care & cosmetics, and e-commerce. The use of plastic as a packaging material is growing rapidly in the packaging industry, owing to its superior performance, cost-effectiveness, and durability.

Additionally, the growth of the healthcare industry has contributed to the growth of the blow molding plastics market to a high degree as plastic packaging helps maintain hygiene and is less susceptible to damage and leaks than glass packaging. Healthcare products such as syringes, bottles, cylinders, and medical containers are made up of blow molding plastics. Therefore, the growing demand for blow molding plastics in the packaging industry boosts global demand.

However, the presence of potential substitutes is likely to restrain the growth of the Global Blow Molding Plastics Market during the forecast period.

Impact of COVID-19 on the Global Blow Molding Plastics Market

The outbreak of COVID-19 has had a negative impact on the production of blow molding plastics due to the disruption in the supply chain across the globe. The global pandemic has led to a reduced supply of some of the products primarily due to the reduced operating capacities of production plants across Europe and Asia-Pacific. Furthermore, the manufacturers are also facing serious headwinds due to disruptions in raw material supply and fluctuations in prices.

Key end consumers of blow molding plastics include packaging, automotive, building and construction, and consumables and electronics. The demand from the automotive and packaging industries has experienced a significant decline primarily due to the shutting down of factories and businesses worldwide, resulting in insufficient availability of raw materials, thereby affecting production on a global scale. For instance, in March 2020, Fiat Chrysler Automobiles and Groupe PSA announced that they are completely stopping car production in Europe, while Volkswagen AG has shut factories in Italy and Spain. Major auto producers such as Maruti Suzuki, Hero MotoCorp, and Bajaj Auto also shut down operations in Gurgaon and Pune owing to the countrywide lockdown imposed by the government to curb the spread of COVID-19.

Global Blow Molding Plastics Market Revenue, By Application, 2018–2027 (USD Million)

Sources: MRFR Analysis

Segmentation

Global Blow Molding Plastics Market has been segmented based on Type and Application.

By type, the global blow molding plastics market is segmented into polypropylene, polyethylene, polystyrene, acrylonitrile butadiene styrene, polyvinyl chloride, polyethylene terephthalate, and others. In 2019, the polyethylene (PE) segment held the largest market share of over 22%. Low-density polyethylene (LDPE) and high-density polyethylene (HDPE) are the types of polyethylene for the blow molding plastic process.

Based on application, the global blow molding plastics market has been segmented into packaging, automotive & transportation, building & construction, consumables & electronics, and others. Among these, the packaging segment emerged as the leading and fastest-growing segment, registering the highest CAGR of over 5%.

Global Blow Molding Plastics Market Share, by Region, 2019 (%)

Sources: MRFR Analysis

Regional Analysis

Blow Molding Plastics Market has been segmented, based on region, into North America, Asia-Pacific, Europe, Latin America, and the Middle East & Africa. Among these, Asia-Pacific emerged as the leading and fastest-growing region with a value share of 41% in 2019 with the highest CAGR of over 5% during the forecast period. The market growth can be attributed to the growing industrialization and urbanization, especially in the personal care and pharmaceutical industries in developing economies such as China, Japan, and Southeast Asian countries. The market in Europe emerged as the second-leading region with a value of USD 19 billion in 2019, registering a CAGR of around 3.70%.

Key Players

The Key Players in the Global Blow Molding Plastics Market are LyondellBasell Industries Holdings B.V. (The Netherlands), Berry Global Inc (US), INEOS (UK), Magna International Inc (Canada), IAC Group (Luxembourg), Comar, LLC (US), Inpress Plastics Ltd (UK), Rutland Plastics Ltd (UK), Garrtech Inc. (Canada), Gemini Group, Inc (US), Plastic Forming Company Inc (US), and North American Plastics Ltd (US).

Some of the key strategies followed by the players operating in the global blow molding plastics market are acquisition and expansion.

• In November 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 USD 404 million. Gemini HDPE LLC is a toll-manufacturer of bimodal high-density polyethylene products serving rapidly growing pipe and film markets.

• In February 2020, Comar announced the establishment of a custom facility in Rancho Cucamonga, California, US. The new 230,000 sq. ft. facility will be cGMP compliant, ISO 13485 certified, and FDA registered and house dedicated injection blow molding, injection stretch blow molding, and injection molding cells. The new facility will feature a full-service mold prototyping lab and dedicated mold sampling and development equipment in order to enable Comar to rapidly bring customers from ideation to design, to prototype, to full production.

• In June 2019, LyondellBasell and Neste Corp., an oil refiner, have made commercial-scale quantities of bio-based polypropylene and low-density polyethylene. The joint project used Neste Corp.'s renewable hydrocarbons, which are 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.

Market Segmentation

Global Blow Molding Plastics Market, By Type

• Polyethylene (PE)


• Polyethylene Terephthalate (PET)


• Polypropylene (PP)


• Polyvinyl Chloride (PVC)


• Polystyrene (PS)


• Acrylonitrile Butadiene Styrene (ABS)


• Others

Global Blow Molding Plastics Market, By Application

• Packaging


• Automotive & Transportation


• Consumables & Electronics


• Building & Construction


• Others

Global Blow Molding Plastics Market, By Region

• North America
  
  
  
  • US
  
  
  • Canada
  
  
  
  


• Europe
  
  
  
  • Germany
  
  
  • UK
  
  
  • France
  
  
  • Spain
  
  
  • Italy
  
  
  • Russia
  
  
  • Rest of Europe
  
  
  
  


• Asia-Pacific
  
  
  
  • China
  
  
  • Japan
  
  
  • India
  
  
  • Australia & New Zealand
  
  
  • South Korea
  
  
  • Rest of Asia-Pacific
  
  
  
  


• Latin America
  
  
  
  • Mexico
  
  
  • Brazil
  
  
  • Argentina
  
  
  • Rest of Latin America
  
  
  
  


• Middle East & Africa
  
  
  
  • GCC
  
  
  • Turkey
  
  
  • South Africa
  
  
  • Rest of the Middle East & Africa
  
  
  
  

Available Additional Customizations

• Blow Molding Plastics Market PESTEL analysis 


• Customer Analysis of Major Consumers


• Technology Overview

Intended Audience

• Blow Molding Plastics Manufacturers


• Suppliers and Traders of Blow Molding Plastics


• Government, Associations, and Industrial Associations


• Investors and Trade Experts


• Consulting in Chemical Experts

Report Scope:

Report Attribute/Metric	Details
Market Size	2027: USD 95.8 Billion
CAGR	4.3%(2020–2027)
Base Year	2019
Forecast Period	2020-2027
Historical Data	2018
Forecast Units	Value (USD Billion)
Report Coverage	Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
Segments Covered	By Type, Application and Region
Geographies Covered	North America, Europe, Asia-Pacific, and Rest of the World (RoW)
Key Vendors	LyondellBasell Industries Holdings B.V. (The Netherlands), Berry Global Inc (US), INEOS (UK), Magna International Inc (Canada), IAC Group (Luxembourg), Comar, LLC (US), Inpress Plastics Ltd (UK), Rutland Plastics Ltd (UK), Garrtech Inc. (Canada), Gemini Group, Inc (US), Plastic Forming Company Inc (US), and North American Plastics Ltd (US).
Key Market Opportunities	The rising product demand from major end-use industries that include automotive and packaging. Advancements in technologies
Key Market Drivers	The significantly rising demand from the packaging industry.

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