Global Market Size, Forecast, and Trend Highlights Over 2025-2037
Blow Molded Plastics Market size was over USD 646.21 billion in 2024 and is anticipated to exceed USD 1.04 trillion by the end of 2037, witnessing over 3.9% CAGR during the forecast period i.e., between 2025-2037. In the year 2025, the industry size of blow molded plastics is evaluated at USD 665.85 billion.
The growth of the market can be attributed to rising awareness of prevention of infectious disease across the globe. The demand for various pharmaceuticals products, disinfectants, and sanitizers has increased. Hand sanitizer sales in the U.S. went up by 300% in March 2020.
Blow molding is manufacturing process that is used to create hollow plastic part by inflating a heated plastic tube until it fills a mold and forms the desired shape. The process involves the use of heat, air pressure, and water. Increased demand from key application sectors including construction, automotive, and packaging such as, milk cartons, shampoo bottles, storage drums, watering cans and others. India contributes 23% of global milk production. In 2020-21, it produced about 209 million tons.
Blow Molded Plastics Sector: Growth Drivers and Challenges
Growth Drivers
- Growth of Healthcare Industry – Amid the global Covid-19 pandemic, the demand for various pharmaceutical products, disinfectants, sanitizers and vaccines has increased. According to Government of India Ministry of Chemicals and Department of Pharmaceuticals, India has the second-highest producer of US FDA approved healthcare products outside the U.S.
- Growing Demand for Packaged Food – For instance, global packaging industry is expected to reach USD 1.05 trillion by 2024.
- Rapid Industrialization across the Globe – According to the report of Invest India in August 2021, the Indian government has an investment budget of USD 1.4 trillion on infrastructure in which 16% of the amount is contributed towards the development of urban infrastructure.
- Increasing Demand for Flexible Packaging – For instance, Flexible packaging solutions, generated a revenue of around USD 200 billion in 2021.
Challenges
- Increasing Concerns about the Plastic Waste and Recycling
- Arbitrariness in the Prices of Raw Materials
- Fluctuations in Raw Material prices
Blow Molded Plastics Market Highlights Over 2023 - 2033
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Base Year |
2024 |
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Forecast Year |
2025-2037 |
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CAGR |
3.9% |
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Base Year Market Size (2024) |
USD 646.21 billion |
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Forecast Year Market Size (2037) |
USD 1.04 trillion |
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Regional Scope |
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Blow Molded Plastics Segmentation
Product {Polyethylene Terephthalate (PET), Polyethylene (PE), Polypropylene (PP), Polyvinyl Chloride (PVC), Polystyrene (PS), Acrylonitrile Butadiene Styrene (ABS)}
The global blow molded plastics market is segmented and analyzed for demand and supply by product into polyethylene terephthalate, polyethylene, polypropylene, polyvinyl chloride, polystyrene, and acrylonitrile butadiene styrene. Out of these, the polyethylene (PE) segment is anticipated to garner the highest market share by 2037, owing to the rising demand in packaging industries. Usage of PE compounds includes different grades of bottles used for packaging a wide range of products, such as food and chemical.
Major Macro-Economic Indicators Impacting the Market Growth
The chemical industry is a major component of the economy. According to the U.S. Bureau of Economic Analysis, in 2020, for the U.S., the value added by chemical products as a percentage of GDP was around 1.9%. Additionally, according to the World Bank, Chemical industry in the U.S. accounted for 16.43% to manufacturing value-added in 2018. With the growing demand from end-users, the market for chemical products is expected to grow in future. According to UNEP (United Nations Environment Program), the sales of chemicals are projected to almost double from 2017 to 2030. In the current scenario, Asia Pacific is the largest chemical producing and consuming region. China has the world’s largest chemical industry, that accounted for annual sales of approximately more than USD 1.5 trillion, or about more than one-third of global sales, in recent years. Additionally, a vast consumer base and favorable government policies have boosted investment in China’s chemical industry. Easy availability of low-cost raw material & labor as well as government subsidies and relaxed environmental norms have served as a production base for key vendors globally. On the other hand, according to the FICCI (Federation of Indian Chambers of Commerce & Industry), the chemical industry in India was valued at 163 billion in 2019 and it contributed 3.4% to the global chemical industry. It ranks 6th in global chemical production. This statistic shows the lucrative opportunity for the investment in businesses in Asia Pacific countries in the upcoming years.
Our in-depth analysis of the global market includes the following segments:
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By Product |
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By Bolding Method |
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By Application |
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Customize this ReportBlow Molded Plastics Industry - Regional Synopsis
Regionally, the global blow molded plastics market is studied into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. Amongst these markets, the market in Asia Pacific is projected to hold the largest market share by the end of 2037. The primary reason for the market growth in the region is the emergence of several domestic manufacturers with technological capabilities at lower cost. Moreover, abundance of labor is another major factor driving the market growth. According to the data by the World Bank, 66% of the population of South Asia falls under the bracket of 15 to 64 years of age, which are the most active working years.
Companies Dominating the Blow Molded Plastics Market
- APEX Plastics
- Company Overview
- Business Strategy
- Key Product Offerings
- Financial Performance
- Key Performance Indicators
- Risk Analysis
- Recent Development
- Regional Presence
- SWOT Analysis
- Agri-Industrial Plastics
- North American Plastics ltd.
- Magna International, Inc.
- Comar LLC
- INEOS Group
- Berry Global, Inc.
- Gemini Group, Inc.
- Creative Blow Mold Tooling
- Rutland Plastics ltd.
In the News
- Apex Plastics announced the purchase of Juice Merchandising Corporation. Apex had a long standing successful partnership with JMC as the manufacturer of their juice bottles.
- Comar LLC acquires internationally & acquires Automatic Plastics limited, a contract manufacturer of injection molded products.
Author Credits: Rajrani Baghel
- Report ID: 4607
- Published Date: Oct 11, 2024
- Report Format: PDF, PPT
