The Dow Company (U.S.), Exxon Mobil Corporation (U.S.), Magna International Inc (Canada)., IAC Group (Luxembourg), Berry Global Inc (U.S.)., Rutland Plastics Ltd (U.K)., Comar LLC (U.S.), Inpress Plastics Ltd (U.K)., The Plastic Forming Company (U.S.) and Agri Industrial Plastics Company (U.S.) among others are some of the prominent players at the forefront of competition in the Global Blow Molding Plastic Market and are profiled in MRFR Analysis.
Blow Molding Plastic Market – Market Overview
Blow Molding Plastic are a lucrative market and is expected to have a steady growth during the forecast years. Blow molding is a process of manufacturing hollow plastic parts. It includes heating of a thermoplastic resin and solidifying the molded plastic by cooling. The basic types of blow molding includes injection molding, extrusion molding, stretch blow molding and reheat and blow molding. The most common blow molded plastics are polyolefins, PVC and PET. The growing demand from the automotive and building and construction are some of the factors adding to the growth of the market.
The global market of Blow Molding Plastic is segmented on the basis of product type, technology, application and region. On the basis of the product type the market is segmented into HDPE, LDPE PE, PP, PVC, and PET. On the basis of application the market is segmented into food processing, construction, furniture & design, agriculture, automobile and others, whereas on the basis of technology the market is further bifurcated into extrusion, injection, stretch, and others. Extrusion injection molding is the dominant segment in terms of technology and is expected to show the same trend during the forecast years. The low cost of the technology finds its application in manufacturing of bottles and packaging of products. Among the product segment PE is expected to register the highest growth on account of major packaging applications of food and beverages and electrical and electronics among others. On the basis of application, packaging is the dominant segment and is expected to show the same trend during the forecast years. The growing packaging industry in the developing regions throughout the globe is the major factor for the growth of this segment.
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According to the analysis of MRFR, the major market forces and trends driving growth of the Global Blow Molding Plastic Market includes growth of packaging sector and the burgeoning growth in the automobile industry. Moreover, the increasing personal disposable income in the developing economies throughout the globe has augmented the construction activities especially in India and china which in turn is further expected to fuel the growth of the Global Blow Molding Plastic Market during the forecast period.
Blow Molding Plastic Market- Competitive Landscape
The Global Blow Molding Plastic Market is a highly lucrative market driven by flourishing growth in packaging and automobile industry, along with the propelling building and construction industry. The Dow Company (U.S.), Exxon Mobil Corporation (U.S.), Magna International Inc (Canada), IAC Group (Luxembourg), Berry Global Inc (U.S.)., Rutland Plastics Ltd (U.K)., Comar LLC (U.S.) among others are some of the major players operating in this market. Most of these market participants are adopting the expansion, product launch, and merger and acquisition tactics to strengthen their production capacities and market position. Taking account of these trends the global Blow molding plastic Market is projected to witness considerable competition over the forecast period of 2017-2023.
Asia pacific is expected to be the fastest growing region during the forecast years. The increasing Globalization and urbanization in the developing economies of the region has propelled the construction of residential and commercial infrastructure which is a dominant factor for the demand for blow molding plastics in the region. Moreover, the growing packaging industry in the region owing the growing demand for consumer goods is substantially contributing to the growth of the market. Furthermore, the developing retail sector coupled with the increasing penetration of smart phones has made the availability of consumer goods easier which is turn is positively effecting the market demand for blow molded plastics in the packaging sector.
Industry/ Innovation/ Related News:
14 November, 2017- Comar LLC has acquired Shore Plastic Technologies Inc. with a motive of beefing up its technological and design strength to care to a growing consumer base. Comar LLC has also acquired Pro plas Technologies a company with a specialization in complex injection molding process and mold making. This move is expected to provide Comar LLC with excellent technological forefront in the global market.
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