Blow Molded Plastics Market Size Worth $98.7 Billion By 2028 | CAGR: 3.3%: Grand View Research, Inc.

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Mar 23, 2021, 03:35 ET

SAN FRANCISCO, March 23, 2021 /PRNewswire/ -- The global blow molded plastics market size is anticipated to reach USD 98.7 billion by 2028, according to a new report by Grand View Research, Inc., growing at a CAGR of 3.3% from 2021 to 2028. The global industry is expected to witness significant growth over the forecast period owing to increasing product demand from various application industries. In the past few years, there has been a significant growth in technologies and equipment for manufacturing these plastics, which has enabled manufacturers to cater to specific requirements of several application industries, such as automotive, building & construction, packaging, and others.

Key suggestions from the report:

The global market was valued at USD 75.7 billion in 2020 and is estimated to grow at a CAGR of 3.3% from 2021 to 2028
Polyethylene (PE) was the largest product segment in 2020. PE compounds are dominantly used across various industries and have been an integral material for the packaging industry
Acrylonitrile Butadiene Styrene (ABS) is estimated to emerge as the fastest-growing product segment from 2021 to 2028
This growth can be credited to the increasing demand for ABS from the automobile industry for the manufacturing of enclosures for electrical and electronic assemblies, automotive trim components, and protective headgears
Asia Pacific accounted for over 33% of the overall revenue share in 2020. China led the market in the Asia Pacific region
Favorable federal regulations by agencies, such as the Environmental Protection Agency (EPA), California Air Resources Board (CARB), and Scottish Environmental Protection Agency (SEPA), regarding carbon emissions along with the EU initiatives to develop blow molding applications for manufacturing lightweight and fuel-efficient cars are likely to boost the growth of the global market

Read 158 page research report with ToC on "Blow Molded Plastics Market Size, Share & Trends Analysis Report By Product (PP, ABS, PE, PVC), By Technology (Extrusion, Injection), By Application (Packaging, Automotive & Transport), And Segment Forecasts, 2021 - 2028" at: https://www.grandviewresearch.com/industry-analysis/blow-molded-plastics-market

Polyethylene Terephthalate (PET) has several applications in the packaging industry including in manufacturing bottles intended for the packaging of food & beverage products. This is expected to drive its demand over the forecast period. During the Covid-19 pandemic, the demand for Polypropylene (PP) and PET is expected to grow on account of the increased usage of face masks, protective gowns, and packaging bottles for hand sanitizers.

Extrusion blow molded plastics was the largest and the fastest-growing technology segment in 2020. This technology is a revolutionary form of the blow molding process. One of the main advantages of this process is that it enables the manufacturers to increase output along with the efficiency of providing customized products. Moreover, lower mold cost as compared to other processes makes it a cost-effective technology.

Grand View Research has segmented the global blow molded plastics market on the basis of product, technology, application, and region:

Blow Molded Plastics Product Outlook (Volume, Kilotons; Revenue, USD Million, 2016 - 2028)

Polypropylene (PP)
Acrylonitrile Butadiene Styrene (ABS)
Polyethylene (PE)
Polystyrene (PS)
Polyvinyl Chloride (PVC)
Polyethylene Terephthalate (PET)
Others

Blow Molded Plastics Technology Outlook (Volume, Kilotons; Revenue, USD Million, 2016 - 2028)

Extrusion
Injection
Stretch
Compound

Blow Molded Plastics Application Outlook (Volume, Kilotons; Revenue, USD Million, 2016 - 2028)

Packaging
Consumables & Electronics
Automotive & Transport

HVAC Ducts
Air Intake Ducts
Others

Building & Construction
Medical
Others

Blow Molded Plastics Regional Outlook (Volume, Kilotons; Revenue, USD Million, 2016 - 2028)

North America

U.S.
Canada
Mexico

Europe

Germany
U.K.
France
Italy

Asia Pacific

China
India
Japan

Central & South America

Brazil

Middle East & Africa

Saudi Arabia

List of Key Players of Blow Molded Plastics Market

Magna International, Inc.
International Automotive Components (IAC) Group
Inpress Plastics Ltd.
Comar, LLC
Rutland Plastics Ltd.
Gemini Group, Inc.
The Plastic Forming Company, Inc.
Agri-Industrial Plastics
Garrtech, Inc.
North American Plastics, Ltd.
Custom-Pak
APEX Plastics
INEOS Group
Berry Global, Inc.
Dow Inc.
LyondellBasell Industries Holdings B.V.

Find more research reports on Plastics, Polymers & Resins Industry, by Grand View Research:

North America Blow Molded Plastics Market – North America blow molded plastics market size was valued at USD 3.52 billion in 2016, growing at a CAGR of 4.3% from 2018 to 2025.
Acrylonitrile Butadiene Styrene (ABS) Market – The global acrylonitrile butadiene styrene (ABS) market size was estimated at USD 23.09 billion in 2016 and it is projected to witness a CAGR of 7.1% from 2015 to 2022.
Polyvinyl Chloride Market – The global polyvinyl chloride market size was estimated at USD 56,304.9 million in 2016. The demand for polyvinyl chloride (PVC) in construction applications is likely to remain strong owing to its cost-effectiveness, resistance to chemical corrosion, and durability.

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About Grand View Research

Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.

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