Portland, OR, July 04, 2022 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the global blow molding machine market was estimated at $4.65 billion in 2020 and is expected to hit $6.87 billion by 2030, registering a CAGR of 3.8% from 2021 to 2030. The report provides an in-depth analysis of the top investment pockets, top winning strategies, drivers & opportunities, market size & estimations, competitive scenario, and varying market trends.
Low labor cost & bulk production advantage, high demand for molded plastic products, material flexibility & low waste production fuel the growth of the global blow molding machine market. On the other hand, high initial tooling & machinery costs and potential threats of substitutes hinder the growth to some extent. Nevertheless, top-end advancements in technology are expected to create multiple opportunities in the industry.
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Covid-19 Scenario-
- There was a sturdy incline in demand for blow molding machines, due to surge in production of sanitizers and other cleaning agents, which impacted the global blow molding machine market positively.
- This trend is most likely to continue post-pandemic as well.
The global bold molding machine market is analyzed across type, raw material, application, and region. Based on type, the injection stretch blow molding segment contributed to nearly half of the total market revenue in 2020, and is projected to lead the trail by 2030. The injection blow molding segment, however, would exhibit the fastest CAGR of 4.0% during the forecast period.
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Based on application, the packaging segment generated the highest share in 2020, accounting for more than two-fifths of the global market. The construction segment, on the other hand, would portray the fastest CAGR of 4.1% from 2021 to 2030.
Based on region, the market across Asia-Pacific held the major share in 2020, garnering more than half of the global market. The same segment would also manifest the fastest CAGR of 4.3% throughout the forecast period.
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Key Players:
The key market players analyzed in the global bold molding machine market report include Chia Ming Machinery Co., (Chia Ming) Ltd, Golfang Mfg. & Development Co., Ltd., Jagmohan Pla-Mach Pvt. Ltd., The Japan Steel Works, Ltd., Jomar Corporation, Nissei Asb Machine Co., Ltd., Polymechplast Machines Ltd., Sumitomo Heavy Industries, Ltd., Jiangsu Victor Machinery Co., Ltd., and Blow Enterprises. These market players have adhered to several strategies including partnership, expansion, collaboration, joint ventures, and others to prove their flair in the industry.
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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
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