the worldwide blow molding resins market has been expected to increase at a CAGR of 6.73 %, with a value of USD 17.88 billion from 2021-203
According to the industry's latest report, the worldwide blow molding resins market has been expected to increase at a CAGR of 6.73 %, with a value of USD 17.88 billion from 2021-2030.
The on-growing demand of the packaged industry will drive the blow molding resins market growth. The changing consumer lifestyles and rising disposable incomes have increased the demand for the global beverage industries and products. The beverage companies use plastic packaging solutions like PET, Polystyrene, and PP to package fluid or liquids. According to this, the growing demand for packaged beverages and the increasing demand for blow molding resins will rise and expand the global market during the projected quarters.
The increasing population and the demand in the automobile sector, especially in the molding techniques, is another key aspect supporting the blow molding resins market share price. Automation is important and requires performing repetitive tasks with high accuracy and exact correctness. The usage of advanced technology and the innovative production procedure also drive the requirement for automobile manufacturing units in the global blow molding resins market sectors. Automation offers many benefits, especially in molding techniques for plastics. Automation reduces human interference in the blow molding process, increasing efficiency and production volume. The rising demand for pouch packaging solutions will be a major challenge for the market over the estimated projected time. The changing lifestyle and the shift in customer preference for flexible packaging solutions might offer ease of storage, transportation, and handling, which increased the demand for pouch packaging solutions. The pouch packaging solutions are very lightweight, and they have high printability and the ability to meet the demand of global needs.
Due to the wake of the Covid-19 pandemic, the temporary shutdown of components manufacturing industries where blow molding resins were used as raw materials might retrain the growth of the blow molding resins market. Furthermore, the automobile sector's downfall might be a decrease in the demand for the blow molding resins used as a raw material for the parts in automobiles. Moreover, due to the application in the medical components, the increase in the medical supplies during the pandemic will drive the growth of the blow molding resins market.
Due to the stoppage of international business activities, most industrial sectors have been facing a huge loss in the business sectors. The fall of international market sectors has hugely impacted the global share price. Most investors and shareholders have implemented the stoppage of their production due to the spreading of a global epidemic. As a result, such manufacturing facilities shave faced a huge loss in revenue section.
Chief Existing Factors in the Market:
Cumulative Evaluation of the Market:
Due to the transparency, stiffness, outstanding melt strength, processability and environmental stress-crack resistivity, such resins are widely used to manufacture blow-molded products. The market's most prominent shareholders have continuously tried to increase the blow molding resins market value worldwide. Due to this, most production and manufacturing industries shave opened their market and focused on manufacturing many products. But in the present era, there are several quantities of advanced industrial equipment, and high-tech industrial developments have been introduced into the blow molding resins market. Due to this, the new business owners and the investment sector shave applied such techniques to generate more products. Using such advanced industrial equipment minimizes the factories' production time. Within a few periods, very industries can perform and generate a large quantity of production to meet the demand of the people across the world.
According to the blow molding resins market analysis report, the global market has been segmented into molding process, type, end-user and regional sectors. According to the molding process, the global market has been divided into extrusion, injection blow molding, and injection stretch blow molding. The type section is classified into eight sections: polyethylene, polypropylene, polyethylene terephthalate, acrylonitrile butadiene styrene, polyvinyl chloride, nylon or polyamides, polycarbonate and others. The end-user section is six sections packaging, automotive, consumer goods, building & construction, electronics and others. The entire blow molding resins markethas been divided into five parts: Asia- Pacific, Europe, North America, South America, and the Middle East & Africa, with the regional sectors.
Global Blow Molding Resins, by the End-use Industry (%)
Source: MRFR analysis
The Asia-Pacific region has been expected to dominate the maximum blow molding resins market size due to the huge demand of the nations like China and India. The packaging market sector in India is the fifth largest sector, and it was estimated to increase to USD 204.81 billion during the forecasting period of 2025. The construction sector in such regions is among the fastest-growing sectors globally. It is also heavily driven by the investments that take off the infrastructure facilities in such nations. China is the leading manufacturer of the automobile and electronic industries worldwide. However, the growing trade and business conflict with the United States has seriously affected the production of such industrial sectors. China has numerous airport construction projects either in the development or the planning stage. The government in Indonesia was also planning to invest a huge amount of approximately USD 450 billion in the construction business industries, which is also expected to increase the entire global market significantly.
Competitive Intensity within the Market:
The global packaging industry has been growing hugely through the upcoming years due to the changing lifestyles of people and the increasing global population and health awareness. Bottle production is also rising rapidly in almost all nations due to several people's lifestyles and the increase in modern industrial equipment, which led the global blow molding resins market to grow tremendously. The introduction of so many new business owners and shareholders ultimately improves the modern blow molding resins market sectors to establish ample production, especially to meet the global demand. The growth factor of the packaging industry is also expected to drive the demand for the blow molding resin throughout the upcoming future times. Some of the major industry leaders are listed below:
Recent Market Development:
Sep 2021 Uniloy Inc., a designer of blow molding machines and molds, announced the release of its new all-electric Uniloy UCS.E continuous extrusion shuttle machine. The UCS.E is the third generation of the company's all-electric shuttle series, and it is described as the most advanced Uniloy shuttle machine to date. The UCS.E can produce bottles, containers, and technical parts ranging in size from 50 ml (1.69 oz) to 30 L (7.9 gallons) in practically any commercial resin. The technology has a seven-layer co-extrusion capacity and can make everything from small cosmetic containers to huge industrial packaging. It is capable of processing bioplastics and post-consumer resins (PCR).May 2021 A 'next-generation' infant bottles from Japan's Zoom T are extrusion blow molded with BASF's Ultrason P 3010 polyphenyl sulfone (PPSU). Zoom T's exacting standards for its curved Dr. Bétta brand baby bottles that are safe and simple to handle are met by the material. The Ultrason P 3010 has been authorized for food contact and is stated to have chemical resistance, high strength, and resistance to superheated steam up to 356 degrees Fahrenheit (180 C). These qualities are supposed to make the bottles safe to use while also being lightweight and shatter-proof. Furthermore, because it is ideal for extrusion blow molding, the BASF PPSU allows for creating intricate shapes such as the Bétta infant bottles. Due to its exceptional melt stability required for the extrusion blow molding process, Ultrason P 3010 has been demonstrated to outperform commercially available PPSU materials used to manufacture baby bottles.
All this analysis report have presents complete and detailed information about the global blow molding resins market sectors. The growth rate and the revenue section are also placed in this report. The impact of the global market during the lockdown time and how the industrial sectors faced many problems have also been included in this report. Global industry's key challenges, Major market opportunities, and the key issues of the international business sectors and other industrial facilities have also been added in this analysis report.
Key Industrial Segmentation:
By molding process:
|Market Size||2030: Significant Value|
|CAGR||2030: Substantial CAGR|
|Forecast Units||Value (USD Million)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||Molding Process, Type, End-Use Industry|
|Geographies Covered||North America, Europe, Asia-Pacific, and Rest of the World (RoW)|
|Key Vendors||BASF SE (Germany), Eastman Chemical Company (U.S.), LyondellBasell Industries Holdings B.V. (Netherlands), DowDuPont (U.S.), SABIC (Saudi Arabia), Exxon Mobil Corporation (U.S.), Solvay (Belgium), INEOS (Switzerland), China Petrochemical Corporation (China), Formosa Plastics Group (Taiwan), Chevron Corporation (U.S.), Versalis S.p.A. (Italy), Lanxess (Germany), Reliance Industries Limited (India), and LG Chem (South Korea)|
|Key Market Opportunities||New product launches and R&D Amongst major key Players|
|Key Market Drivers||
The packaging industry would drive growth.
Volatile crude oil prices can deter market growth.
End users like consumer goods, automotive, food & beverage, and others would inspire growth.
The Asia Pacific blow molding resins market has the lead.
The blow molding resins market report includes studies of injection blow molding, extrusion, and injection stretch blow molding.
The growth rate of the global market is at a CAGR of 6.73 %, with a value of USD 17.88 billion during the estimated forecasting time.
The study period of the global market is 2021-2030.