Published Date : 04 May 2023
In 2022, the blow molded plastics industry had a global size of USD 81.5 billion and it is expected to increase to approximately USD 130.9 billion by 2032. This represents a compound annual growth rate (CAGR) of 4.85% during the forecast period 2023 to 2032.
Consumable and electronics, building and construction, automotive, and transportation are some of the sectors that are expanding and boosting the need for molded plastics.
Plastic hollow pieces may be efficiently produced using blow molding. Plastic bottles and containers are the main products produced with this technique. When opposed to injection molding, the blow molding procedure is rather straightforward. When molten plastic material poured through Parison, it all started. Parison is a plastic tube having a hole in it that allows pressurized air to travel through. When molten plastic is forced through an extruder, the parison is created.
The most used method for blow molding is extrusion. The molten plastic material is extruded into a parison in extrusion blow molding. When the mold has cooled, this parison is sealed by sandwiching it between its two sides. Next, the air is forced into the parison to change it into the shape of the final product.
Extrusion-blowing molding offers cheap product costs, an easy technique, and excellent productivity. However, its main disadvantages are the homogeneity of the yield and wall thickness. Extrusion blow molding uses less pressure, which lowers production costs and makes the product more affordable. The expansion of the blow-molded plastic bottle industry has been aided by the rise in pharmaceutical equipment, which has increased the approval of these bottles.
Blow Molded Plastics Industry Report Scope:
|Market Revenue in 2023||USD 85.45 Billion|
|Projected Forecast Revenue in 2032||USD 130.9 Billion|
|Growth Rate from 2023 to 2032||CAGR of 4.85%|
|Largest Market||Asia Pacific|
|Forecast Period||2023 to 2032|
|Regions Covered||North America, Europe, Asia-Pacific, Latin America and Middle East & Africa|
The blow molding plastics industry in North America is dominated by American manufacturers. The industry for blow-molded plastics in the United States was estimated at 13.48 billion dollars in 2019 and is anticipated to increase to 15.77 billion dollars by 2027. In 2019, the blow molding plastics industry in North America accounted for 20.33 percent of the industry worldwide.
The Asia-Pacific region's blow molding plastics industry is dominated by China. The blow molding plastics industry in China was valued at 13.76 billion dollars in 2019 and is anticipated to increase to 19.2 billion dollars by 2027. The blow molding plastics industry was valued at $30.94 billion USD in 2019 and accounted for 40.82% of the worldwide industry.
Germany is the industry leader for plastic blow molding in Europe. The blow molding plastic industry in Germany was valued at 5.03 billion dollars in 2019 and is projected to reach 6.56 billion dollars by 2027. In 2019, Europe accounted for a quarter of the global industry for blow-molded plastics, second only to the Asia-Pacific area.
Food and beverages sectors drive the industry
The global industry for blow-molded containers is used in the food and beverage industry, which can be ascribed to shifting consumer preferences for more convenient and environmentally friendly packing methods. One of the key drivers of the blow-molded plastic bottle industry's expansion is the cheap cost of production and manufacturing. The three main variables driving industry expansion are rigidity, stability, and compatibility, which the seven layers aid in achieving. The use of blow-molded plastic bottles in the medical industry is expected to increase since they are used to package medications and keep their quality intact without tampering or damage.
Regularity policies impacting the industry
Trends and regulatory policies range from area to region and are anticipated to have an influence on the overall blow-molded plastic industry worldwide. The existence of viable replacements in the industry is likely to restrain and restrict the growth of the blow-molded plastic industry. Plastic garbage harms the environment because it takes decades to decompose. Governments all around the globe address this issue by enacting strict regulations that the plastics sector is required to follow.
Development of 3D printing plastics
The worldwide development of 3D printing plastic that could function favorably in very corrosive and high temperature/pressure settings is supported by the expanding acceptance of 3D printing techniques for commercial usage. The performance of the composite grades of plastics is enhanced by value additions like carbon fibers. In recent years, major molded plastics manufacturers like SABIC have started producing sophisticated integrated 3D printing plastics. The industry for molded plastics will benefit from growth opportunities as the demand for 3D-printed plastic composites increases.
The industry share segment for injection blow molding generated the most income overall. No other plastic manufacturing method can match the large output volumes that injection molding can. Each machine can easily manufacture millions of pieces every year. Complex items may be produced using injection molding. Everything from gear to garden chairs is made of it.
Stretch blow molding produces bottles with great quality and clarity but has restrictions on where they may be used. It is used to make containers for personal care products, home cleansers, and soda bottles, and these products are often created in response to personalized requests from customers.
The industry share in terms of revenue was accounted for by the polyethylene (PE) segment. The most widely used resin in blow-molded plastics, including milk bottles, chemical bottles, and shopping bags, is high-density polyethylene. Due to its minimal dependence on crude oil during production and lack of BPA and other toxins, HDPE is one of the polymers with the least negative effects on the environment.
The industry for blow-molded plastics has evolved, with the primary application segment being packaging, which accounts for the largest revenue share. In emerging nations, there is a high level of consumption that drives the packaging business. With a volume share, automotive & transportation was the second-largest application section. It is anticipated that the development of the automotive & transportation application section will be accelerated over the estimated period by the growing integration of plastics in automotive components and the concurrent growth in the production of electric passenger cars and heavy-duty automobiles, particularly in Asia and Central and South America.
Major Key Players:
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