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Blow Molding Resins Market by Type (Polyethylene, Polypropylene, Polyvinyl Terephthalate, Polyvinyl Chloride, and Others), Application (Packaging, Construction & Infrastructure, Automotive & Transportation, and Others), by Region - Global Industry Analysis, Size, Share, Growth, Investment, and Forecast (2021 – 2027)

Published: January, 2022
ID: 8208
Pages: 170
Formats: report pdf report excel report power bi report ppt

Blow Molding Resins Market Size & Growth 2022-2027:

Blow Molding Resins Market is valued at US 46.67 Billion dollars in 2021 and is projected to succeed at US 59.95 Billion dollars by 2026, at a CAGR of 7.2% from 2022 to 2027.

The rise in demand for blow molding resins within the packaging applications of the pharmaceutical, chemicals, food & beverages, and personal care industries is anticipated to boost the expansion of the blow molding resins market during the estimated period. Blow molding could form hollow products by expanding a hot plastic mass against the interior surfaces of a mold. 

Global Blow Molding Resins Market Drivers:

The global blow molding resins market is majorly driven by their increasing demand from the packaging industry because of their flexibility, durability, and low cost, including their superior properties of scratch and chemical resistance. It's widely used for applications like food packaging & beverage bottling, including bakery products, dry foods, meat & cheese, pet food, snacks, carbonated drinks, etc. Rising demand for ready-to-eat processed food with higher perishability because of the fast-paced lifestyle has increased the demand for food & beverage packaging. Furthermore, the excessive use of those resins in cosmetics & care products and health & hygiene packaging due to the aforementioned properties is projected to further fuel market growth.

The extensive use of blow molding resins in making lightweight vehicles is another significant driver of the global market. Due to the stringent emission regulations concerning environmental health, high demand for lightweight vehicles is predicted to fuel the product demand over the review period.

Global Blow Molding Resins Market Restraints:

However, limitations to offshore applications and high maintenance costs are a number of restraining factors that will affect the expansion of the market. Volatility in the prices of petroleum will act as a restrain and will challenge the expansion of the blow molding resins market within the estimated period mentioned above. 

Opportunities in Global Molding Resins Market:

The rapid rise in demand from emerging economies is expected to create an opportunity for the market to grow. Increasing demand for crude oil across the globe is anticipated to drive the growth of the market. Ease of operation onshore and low installation costs are factors driving the growth of the blow molding resin market. The blow molding resins have a wide range of applications in the automotive and transportation industry. Thus, the growing demand for lightweight vehicles is likely to support the growth of the market. 

Challenges in Global Molding Resins Market:

The global pandemic spread has resulted in significant losses in terms of production and revenue generation, especially in the blow molding resins market. The production of polymeric resins has been significantly affected owing to the spread of the coronavirus. Decrease in demand and variation in production of polymeric resins have led to a decrease in blow molding resins prices. This is likely to adversely affect the market in the near future

REPORT COVERAGE:

REPORT METRIC

DETAILS

Market Size Available

2022 – 2027

Base Year

2021

Forecast Period

2022- 2027

CAGR

7.2%

Segments Covered

  • By Type
  • By Application

  • By Region

Various Analyses Covered

Global, Regional & Country Level Analysis, Segment-Level Analysis, DROC, PESTLE Analysis, Porter’s Five Forces Analysis, Competitive Landscape, Analyst Overview on Investment Opportunities

Regions Covered

North America: U.S and Canada

Europe: Germany, France, Italy, U.K, Spain, Russia, Rest of Europe

APAC: China, Japan, South Korea, India, Australia, South East Asia, Rest of Asia Pacific

Latin America: Brazil, Mexico

Middle East & Africa: Saudi Arab, South Africa, UAE

Market Leaders Profiled

1) LyondellBasell (Netherlands)

2) INEOS (Switzerland)

3) Dow DuPont (US)

4) Exxon Mobil (US)

5) Solvay (Belgium)

6) Shin–Etsu Chemical Co. Ltd (Japan)

7) Reliance Industries (India)

8) SABIC (Saudi Arabia)

9) Eastman (US)

Market Segmentation:

Blow Molding Resins Market -  By Type:

  • Polyethylene
  • Polypropylene
  • Polyvinyl Terephthalate
  • Polyvinyl Chloride

 Among the mentioned types the market is estimated to witness a high growth rate in the polyethylene segment for the forecast period. Some of the excellent properties of polyethylene such as high load melt strength, high stiffness, exceptional rigidity, and environmental stress cracking resistance are the cause for the estimated high growth rate of this segment. Mostly high-density polyethylene is used for the process of blow molding.

Blow Molding Resins Market - By Application:

  • Packaging
  • Construction & Infrastructure
  • Automotive & Transportation

Of the mentioned applications the packaging segment accounts for the majority of the revenue generated in the global market for blow molding in the forecast period. The demand from the food & beverages, personal care, chemical, and pharmaceutical industries for packaged goods is a global market in the packaging segment.

Blow Molding Resins Market - By Region:

  • North America

  • Latin America

  • Europe

  • Asia Pacific

  • Middle East & Africa

On the basis of region, Blow Molding Resins Market is segregated into regions of North America, South America, Asia Pacific, Middle East, Africa, and Europe. The Asia Pacific region is projected to have the highest market share in the global market for blow molding resins in the year 2020. The fast growth is mainly due to the fast-emerging economies like India, Japan, and China which could potentially rule over the global market in different sectors. Also, the regional advantages offered by this region such as cheap labor and ease of resource availability are other reasons for the key market participants to invest in this region. This makes the companies have higher profits as the production costs are minimized.

Europe is second in the lead for the global market in terms of both volume and value, followed by North America. The well-established significant companies in these regions are centered in North America. In other words, they have their headquarters in North America/ Europe and manufacturing centers in the Asia Pacific region. On the other hand, the Middle East & Africa, and Latin America regions, being in the low developing countries due to the contribution of low GDP countries, have fewer chances for industry growth. Hence, the Metallized film Market in these regions is slow-growing in nature.

Blow Molding Resins Market key players:

Major companies plying their trade in the Blow Molding Resins Market include

  1.  LyondellBasell (Netherlands)
  2. INEOS (Switzerland)
  3. Dow DuPont (US)
  4. Exxon Mobil (US)
  5. Solvay (Belgium)
  6. Shin–Etsu Chemical Co. Ltd (Japan)
  7. Reliance Industries (India)
  8. SABIC (Saudi Arabia)
  9. Eastman (US)
  10. China Petroleum (China)
  11. The Chemours Company (US)
  12. BASF SE (Germany)
  13. Lotte Chemical UK Ltd (UK)
  14. Formosa Plastics (Taiwan)
  15. AGC Chemicals Americas Inc. (US)
  16. Versalis S.P.A. (Italy)
  17. Haldia Petrochemicals Limited (India)
  18. LG Chem (South Korea)
  19. Qenos Pty Ltd (Australia)
  20. EMS-Chemie Holding AG (Switzerland)
  21. Chevron (US.)

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