In the latest report by Future Market Insights, on global moulded plastic market it has been projected that market to grow over the CAGR of 3% in the forecast years. The industry is estimated to flourish over the long term.
Growing demand from the key end users such as automotive, construction and packaging from the BRICS is expected to bolster the blow moulded plastic sales.
Who are the key Manufacturers Blow Moulded Plastic Packaging Market?
The prominent players of blow moulded plastic market are
- Constar Plastics B.V.
- Silgan Plastics Corp.
- Zhuhai Zhongfu Enterprise Co. Ltd.
- Nampak Plastics Europe Limited
- Amcor Rigid Plastics
- Promens
- Alpha Packaging
- Serioplast Spa
- Greiner Packaging International
- Southeastern Container Inc.
- Esterform Packaging
- Resilux Nv
- Alwin Lehner Gmbh And Co. Kg, Alpla Werke etc.
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What are the Driving Factors for Blow Moulded Plastic Packaging Market?
Blow moulded plastics market is driven by the aspect of innovation and technological progression as it will facilitate the increase in production of bottles. The trend in the industry is created by HDPE and PET material as they are the non-biodegradable bio plastics that are expected to gain the transition in the upcoming 10 years.
These materials are less energy over the petroleum-based plastics. Initiatives such as waste reduction and enhanced recycling help to promote the usage of bio plastics.
With the projected implementation of new legislation linked to environmental sustainability, eco-sustainable bottles will continue to support green behaviors as the world shifts toward environmental friendliness and sustainability.
COVID-19 impact on Blow Moulded Plastic Packaging Market?
The recent coronavirus outbreak has sparked fear all around the world. Despite the fact that the impact of the pandemic on blow moulded plastic packaging is nothing compared to what a few other industries have experienced, there are still certain hindrances.
Due to the widespread disease, there was a shutdown of various industries due to lack of manpower and human labour. Due to its low cost of manufacture, heat-seal ability, high clarity, high elongation, and softness, low-density polyethylene (LDPE) is frequently favored, depending on the field of application.
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Global Outlook of Blow Moulded Plastic Packaging Market
In the latest report by Future Market Insights, the prominent region included are North America, Latin America, Europe, East Asia, South Asia & Oceania and the Middle East and Africa.
The Asia Pacific hold a prominent share of the market which is nearly 40% of the global market share. China is the major chunk holder in the region followed by Japan and India. The end-use sectors that consume blow-molded plastic packaging compounds have seen great expansion in China, which is a key manufacturing hub.
Europe and North America are the matured economics having the slow growth as the trade among the economics got affected due to the COVID -19. Another reason for slow growth is the ban on the use of plastic material in eight states of North America like New York and California.
Polyethylene (PE) as Raw Material Blow Moulded Plastic Packaging Market
Polyethylene is the dominating segment accounting for 20% of the market share under the raw material segments. This significant amount is contributed by packaging and electronic and electrical industries. The polyethylene compounds are used for the manufacturing of various grades bottles utilized to package a wide range of items, including food and chemical products.
Aside from the packaging sector, one of the most common uses for PE compounds is construction. Computer Numerical Control (CNC) machines and 3D printers employ polyethylene for prototype development. HDPE is high-density polyethylene (HDPE) that is easy to manufacture at a cheap cost, has an excellent moisture barrier, and can be used to make both opaque and hollow packaging.
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Key Segments
Raw Material:
- Polymers
- Polyvinyl chloride (PVC)
- Polyethylene terephthalate (PET)
- Polyethylene (PE)
- Polypropylene (PP)
- Bio-based Plastics
- Polyethylene naphthalate
- Polyamide
- Polycarbonate
End User:
- Consumer Products
- Food & Beverage
- Cosmetics & Personal Care
- Pharmaceutical Industry
- Others
Sales Channel:
- Modern Trade
- Franchised Outlets
- Specialty Store
- Online Channel
By Region:
- North America
- US & Canada
- Latin America
- Brazil, Mexico, Argentina & Rest of Latin America
- Europe
- Germany, France, Italy, Spain, U.K., Benelux, Russia, and Rest of Europe
- East Asia
- China, Japan, South Korea
- South Asia
- India, Thailand, Malaysia, Indonesia and Rest of South Asia
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