As per FMI, the global blow molded bottles market size is likely to reach US$ 144.3 Bn by the end of 2032. It is anticipated to exhibit growth at a CAGR of 4.8% during 2022-2032 and is projected to be valued at US$ 90.3 Bn by the end of 2022.
Blow molding is a process where inflation and heating is done to create hollow products. The blow molded bottles market is anticipated to rise at a fast pace owing to improvements in technology and industry-specific products. Key blow molded bottles businesses are focusing on digitizing their operations and adjusting to new innovations by using artificial intelligence and automation.
During the forecast period, top businesses in the blow molded bottles market are likely to continue to focus on mergers and acquisitions as a means of gaining access to new technologies, bolstering portfolios, and leveraging capabilities. Increasing investments in R&D to develop new product lines is another key factor that would drive the global market.
Over the last few years, there has been a spike in capacity expansion in high-growth regions such as the Middle East and Asia Pacific. These regions are generating a steady demand for polymers and are also lowering their total manufacturing costs. Manufacturers are looking for machines that can provide improved precision, cost effectiveness, and flexibility in order to offset the significantly rising cost of manufacturing in various high-demand end use segments.
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Key Takeaways from Blow Molded Bottles Market
· By the next decade, the blow molded bottles market is expected to grow by 1.6x times than its current value.
· Based on material, the plastic segment is expected to grow at a CAGR of 4.6% in the forecast period from 2022-2032.
· By end use, the food & beverages segment is estimated to reach a valuation of US$ 58 Bn by the end of 2032.
· The South Asia blow molded bottles market is predicted to account for roughly 23.5% of the global market share during the forecast period.
· The India blow molded bottles market is expected to create an incremental opportunity of US$ 6.1 Bn by 2032.
“Urgent need to increase the shelf life of food products and rising concerns about the safety of food & beverages are projected to boost the global blow molded bottles market,” says a FMI analyst.
Increasing Demand for Biodegradable Plastic to Boost the Global Market
Use of recyclable or biodegradable plastics is on the rise as a result of growing concerns regarding environmental damage brought on by the overuse of plastic. The majority of firms are nowadays employing compostable substitutes for plastic since government agencies have implemented strict laws and outlawed the use of plastic for packaging.
Many countries have framed new regulations and laws to encourage firms to switch from conventional plastic to recyclable plastic, notably in the packaging industry, because of its many advantages. For instance, Greif Inc. sells refurbished and remanufactured plastic containers that are built with HDPE, which has been recycled 75% from post-consumer containers. With these changes, the blow molded bottles market will witness a significant amount of growth in the near future.
Expansion of E-commerce and Logistics to Create New Opportunities for Blow Molded Bottles Manufacturers
E-commerce and direct-to-consumer delivery techniques have exhibited tremendous growth. Over the past few years, there have been some significant changes in shipping and transportation procedures as a result of shifting customer shopping habits and growing popularity of e-commerce. Owing to the aforementioned trends, packaging solutions have undergone numerous changes in order to meet end-use requirements, while also being more secure and sophisticated.
Understanding and recognizing the transportation method helps packaging engineers around the world to create plastic bottles in the most sustainable way possible. Increasing need among packaging engineers and manufacturers to develop innovative plastic containers, including bottles is set to aid growth.
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Competitive Landscape: Blow Molded Bottles Market
Some of the leading players in the blow molded bottles market include
- ALPHA Packaging,
- Millet Plastics Inc.,
- Zhongshan Boyu Precision Mould Manufacturing Co., Ltd,
- APEX Plastics,
- Valencia Plastics, Inc.,
- Us Pack Group,
- Urola Packaging,
- Robinson plc,
- Gil Pack,
- PET Blow Molding,
S.I.P.A. S.p.A., Rosti Group AB, Berry Global, O. BERK, Retal Industries Ltd, Grief Inc, Visy, Garrtech Inc, Graham Packaging co, and LyondellBasell Industries B.V among others.
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