The Business Research Company’s Blow-Molded Plastics Global Market Report 2022 – Market Size, Trends, And Global Forecast 2022-2026
LONDON, GREATER LONDON, UK, May 9, 2022 /EINPresswire.com/ — Increasing efforts in product R&D is a key trend gaining popularity in the blow-molded plastics market. Companies are investing in R&D to produce new industrial plastics to keep up with market competitiveness and meet evolving end-user demands. For instance, in 2020, Comar, a US-based manufacturer, and designer of innovative plastic solutions announced the establishment of a customs facility in Rancho Cucamonga, US. The new 230,000square-foot facility will be Current Good Manufacturing Practice regulation (cGMP)-compliant, ISO 13485-certified, and FDA-registered, with dedicated injection blow molding, injection stretch blow molding, and injection molding cells. The new facility will include a full-service mold prototyping lab as well as a specialized mold sample and development machine, allowing customers to quickly move from concept through design, prototype, and full production.
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The global blow-molded plastics market size is expected to grow from $86.39 billion in 2021 to $89.30 billion in 2022 at a compound annual growth rate (CAGR) of 3.4%. The global blow-molded plastic market share is expected to grow to $102.59 billion in 2026 at a CAGR of 3.5%.
Increased usage of face masks, protective gowns, and packaging bottles for hand sanitizers is expected to propel the blow-molded plastics market growth going forward. Due to the COVID-19 outbreak, the demand and sale of facemasks, hand sanitizers, and face shields have gained pace. People are purchasing hand sanitizers in little bottles that are convenient to carry in their wallets or handbags. Blow molding is a technique for making hollow things such as bottles, face masks, and other packaging from hot liquid plastic. For instance, according to the All Food and Drug License Holders Foundation (AFDLHF), an Indian association that represents 7,000 pharmaceutical suppliers, the total market for masks in India has grown to Rs 4.5 billion ($60 million) in the first two months in 2020 from about Rs 2 billion ($26.7 million) annually in 2019. Therefore, the increased usage of face masks, protective gowns, and packaging bottles for hand sanitizers will drive the growth of the global blow-molded plastics market.
Major players covered in the global blow-molded plastics industry are LyondellBasell Industries Holdings B.V., Berry Global Inc., Pet All Manufacturing Inc, Inpress Plastics Ltd, The Dow Chemical Company, Comar LLC, Rutland Plastics Ltd, The Plastic Forming Company Inc., Agri-Industrial Plastics, Garrtech Inc, North American Plastics Ltd., Creative Blow Mold Tooling, Pet All Manufacturing Inc., Exxon Mobil Corporation, and APEX Plastics.
TBRC’s global blow-molded plastics market analysis report is segmented by type into polypropylene, acrylonitrile butadiene styrene (ABS), polyethylene, polystyrene, PVC, PET, Others, by technology into extrusion, injection, stretch, by application into packaging, consumables and electronics, automotive and transport, building and construction, medical, others.
Blow-Molded Plastics Global Market Report 2022 – By Type (Polypropylene, Acrylonitrile Butadiene Styrene (ABS), Polyethylene, Polystyrene, PVC, PET), By Technology (Extrusion, Injection, Stretch), By Applications (Packaging, Consumables And Electronics, Automotive And Transport, Building And Construction, Medical) – Market Size, Trends, And Global Forecast 2022-2026 is one of a series of new reports from The Business Research Company that provides a blow-molded plastics market overview, forecast blow-molded plastics market size and blow-molded plastics market growth for the whole market, blow-molded plastics market segments, geographies, blow-molded plastics market trends, blow-molded plastics market drivers, restraints, leading competitors’ revenues, blow-molded plastics market profiles, and blow-molded plastics market shares.
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