Blow Molded Plastics Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2018 - 2028
Global Blow Molded Plastics Market: Overview
The strides in the global blow molded plastics market has been stimulated continuously by growing expenditure in blow molding machineries and advances in techniques. Rising production of high-density polyethylene (HDPE) products around the world has spurred the application of blow molding technologies. Key technologies comprise extrusion, stretching, injection blow molding, and compounding. Of these, the sales of extrusion blow molded plastics are expected to account for sizable revenues in the global market by 2028-end. Blow molded plastics exhibit numerous material development characteristics that make them useful in wide range of applications. This is one of key propositions shaping the contours of the blow molded plastics market.
Manufacturing of products that call for high impact resistance, good flow properties, and outstanding thermal resistance has been possible with blow molding process. Over the years, the numbers of blow molding machinery that allows better control of parameter characteristics has grown. Growing demand for cost-effective, high quality blow molded plastics is boosting the blow molded plastics market. Some of the key materials that are suitable for blow molding processes are high density polyethylene, low density polyethylene, polypropylene, co-polyester, PET, PVC, nylon, EVOH, and EVA.
Global Blow Molded Plastics Market: Competitive Dynamics
Mergers and acquisitions form crucial part of the competitive dynamics of the blow molded plastics market, notably in developed economies. Such strategic moves by providers of plastic solutions to companies that supply blow molded plastics to end-use industries help strengthen the supply chain of key players in the blow molded plastics market. One such initiative has been by a France-based plastic supplier acquiring a key thermoplastics company that designs, manufactures blow molded plastics for OEMs in the automotive industry. This is expanding the potential of the blow molded plastics market.
Novares in early 2019 announced that it was acquiring Miniature Precision Components, a U.S-based company specializing in engineered plastic components and modules for vehicle powertrains. With this the company consolidated—doubled—its engine business. The move is also expected to give it a stronghold in the global powertrain parts supplier business by expanding its geographic reach. Among several manufacturing expertise, Novares is also harnessing the gains of 3D suction blow molding for developing advanced blow molded plastics to be used in powertrain and under-the-hood automotive components.
Some of the well-entrenched players in the global blow molded plastics market are Chevron Corporation, BASF SE, Dow-DuPont, INEOS, and Lyondellbasell Industries Holdings B.V.
Global Blow Molded Plastics Market: Growth Dynamics
The proliferation of blow molded plastics products in consumer markets in developing and developed countries is bolstering the prospects of the market. Over the past few decades, there has been substantial advancements in equipment and secondary machineries used in blow molding. This has helped the providers of speciality plastics solution providers meet new application needs in the blow molded plastics market. Growing numbers of turnkey solutions have also expanded the potential of the market. Typically these solutions help bring more precision and design in the performs used in blow molding processes.
The demand for low-cost technologies for cost-sensitive regions has also shaped the trajectories of the blow molded plastics market. Considerable strides made in extrusion blow molding technologies over the past few years has helped meet wide diversity of demands for plastics in end-use industries, notably in automotive, medical, packaging, electronics, and construction. Expansion of warehouse and production capacities has also bolstered new avenues in the blow molded plastics market.
Global Blow Molded Plastics Market: Regional Analysis
Of the various key regions, Asia Pacific and the Middle East are witnessing substantially lucrative avenues in the blow molded plastics market. Manufacturers have in recent years have been eyeing these avenues due to low cost of production. Also, they are tapping the potential of the aforementioned emerging markets with competitive pricing, especially in small custom fabrications for end-use industries.
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