The global blow molded bottles market size is estimated to reach a valuation of US$ 90.3 Bn by the end of 2022, accelerating at a CAGR of 4.8% during 2022-2032. The global blow molded bottles market is expected to create an incremental opportunity of US$ 144.3 Bn by the end of 2032.
Increasing capacity addition activities in high-growth regions, including Asia Pacific and the Middle East & Africa is a major factor that would drive the market. These regions are anticipated to create a consistent demand for blow molded bottles in addition to lowering the overall manufacturing cost.
Several manufacturers are looking for new machines that can provide maximum flexibility, greater cost efficiency, and higher accuracy to accelerate the constantly surging cost of production from numerous demanding application industries such as food & beverage and pharmaceuticals.
Besides, increasing demand for the extrusion blow molding technology across the globe owing to its relatively low cost, as compared to injection blow mold is set to aid growth. The technology also requires low pressure and makes molding of external threads easy.
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Injection blow molding, on the other hand, helps in manufacturing more complex products in various shapes and designs that would be otherwise difficult or impossible with other technologies. The process further allows organizations to surge their production output in a shorter period along with flexibility in terms of materials and design.
2015-2021 Global Blow Molded Bottles Demand Outlook Compared to 2022-2032 Forecast
The global blow molded bottles market registered a CAGR of 4.2% during the historic period of 2015-2021 and held a share of US$ 68 Bn in 2015. As per FMI, the market reached around US$ 87 Bn by the end of 2021. Extrusion, injection, and injection stretch blow molding are the three primary categories of blow molding techniques.
Increased demand from the packaging industry is a key driver fueling growth in the global blow molded bottles market. Furthermore, the market is projected to have profitable growth prospects due to expanded application range and rising demand from emerging nations.
The market for blow molded bottles has expanded significantly as a result of rising demand for pharmaceutical products, which has increased the use of these bottles. Additionally, low cost of blow molded bottles is set to create a sizable market potential for leading players worldwide. Owing to the above-mentioned factors, the global blow molded bottles market is expected to grow at a CAGR of 4.8% during the forecast period of 2022-2032.
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