The stretch blow molding machines market is expected to grow at an average CAGR of 3.4% between 2023 and 2033. By 2033, the market is projected to surpass a market share of US$ 1.2 billion, while it is estimated to be valued at US$ 871.9 million in 2023.
The market growth is driven by the rising demand for packaged food and beverages, particularly due to the increasing number of young individuals working in corporate settings. This demographic trend has led to a higher consumption of packaged products, thereby fueling the demand for stretch blow molding machines. Additionally, the introduction of new packaging products is further contributing to the market growth as it requires the use of these machines for efficient production.
The consumption of stretch blow molding machines in sectors such as pharmaceuticals, automotive, and fast-moving consumer goods (FMCG) is also on the rise as the effects of the COVID-19 pandemic diminish. As economies recover and industries resume their operations, there is an increased demand for packaging in these sectors, leading to the growth of the stretch blow molding machines market.
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Manufacturers in the market are focusing on developing efficient and faster molding methods that promote lower raw material wastage. This emphasis on sustainability and waste reduction is driving the expansion of the stretch blow molding machines market.
Asian economies, with their larger populations and increased industrial verticals, are expected to contribute significantly to the market growth during the forecast period. These regions are witnessing a higher demand for packaging solutions, including small and medium-sized packages, which in turn boosts the demand for stretch blow molding machines.
Overall, the stretch blow molding machines market is anticipated to experience steady growth, driven by factors such as the increasing demand for packaged food and beverages, the introduction of new packaging products, the recovery from the COVID-19 pandemic, and the focus on sustainability in the manufacturing process.
Key Points
- The United States market is likely to hold the biggest space in the stretch blow molding machines market in terms of market share. The market growth is attributed to the expanding packaged consumables and restoration of packaging growth.
- The rising demand for precision and accuracy in production of packaging products fuels the regional growth at a CAGR of 3.0% during the forecast period. The regional market is expected to hold a value of US$ 286.0 million by 2033.
- The Chinese stretch blow molding machines market is the region in the market with a CAGR of 3.7% between 2023 and 2033. The regional growth is attributed to the higher working population coupled with the increased FMCG brands.
- India is leading the market in terms of the CAGR with a CAGR of 4.4% while it expects to reach a value of US$ 107.2 million by 2033.
- The two-step segment is likely to thrive in the technology type category as it thrives on a CAGR of 3.8% between 2023 and 2033. The growth is attributed to factors like higher consumption and faster processing.
- The rotary segment is expected to top the orientation category with a CAGR of 2.6% during the forecast period. The growth of this segment is fueled by faster production.
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Competitive Landscape
The key competitors are working on transforming the machine so that it can cater to the modern-day packaging style such as sustainable and green packaging.. Key competitors also merge, acquire, and partner with other companies to increase their supply chain, and distribution channel. The key players in the market are: Pet All Manufacturing Inc, R&B Plastics Machinery, LLC, Zhejiang Huangyan Lingma Plastic Machinery, SIPA North America, Inc., Nissei asb company, Sidel, Jomar Corporation, Custom-Pak Inc and Tech-Long Inc.
Recent Market Developments
- Jomar Corporation has introduced the IBM techniques with no scrap, no trimming, no waste, and lower requirement of auxiliary equipment.
- SIPA North America, Inc has launched its stretch blow molding machine that produces preforms, bottles, moulds, and complete lines.
Key Players
- Pet All Manufacturing Inc.
- R&B Plastics Machinery, LLC
- Zhejiang Huangyan Lingma Plastic Machinery
- SIPA North America, Inc.
- Nissei asb company
- Sidel
- Jomar Corporation
- Custom-Pak Inc.
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Key Segments
By Technology Type:
- Single-step Based
- Two-step Based
By Orientation Type:
- Rotary Type Machine
- Linear Type Machine
By End Use:
- Food & Beverage Industry
- Personal Care & Cosmetic Industry
- Consumer Goods Industry
- Pharmaceuticals Industry
- Others
By Region:
- North America
- Latin America
- Europe
- Asia Pacific (APAC)
- Middle East & Africa (MEA)
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