NEWARK, Del, Sept. 08, 2022 (GLOBE NEWSWIRE) -- As per FMI, the global blow molded bottles market size is likely to reach US$ 144.3 Bn by the end of 2032. It is anticipated to exhibit growth at a CAGR of 4.8% during 2022-2032 and is projected to be valued at US$ 90.3 Bn by the end of 2022.
Blow molding is a process where inflation and heating is done to create hollow products. The blow molded bottles market is anticipated to rise at a fast pace owing to improvements in technology and industry-specific products. Key blow molded bottles businesses are focusing on digitizing their operations and adjusting to new innovations by using artificial intelligence and automation.
During the forecast period, top businesses in the blow molded bottles market are likely to continue to focus on mergers and acquisitions as a means of gaining access to new technologies, bolstering portfolios, and leveraging capabilities. Increasing investments in R&D to develop new product lines is another key factor that would drive the global market.
Over the last few years, there has been a spike in capacity expansion in high-growth regions such as the Middle East and Asia Pacific. These regions are generating a steady demand for polymers and are also lowering their total manufacturing costs.
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Manufacturers are looking for machines that can provide improved precision, cost effectiveness, and flexibility in order to offset the significantly rising cost of manufacturing in various high-demand end use segments.
Key Takeaways from Blow Molded Bottles Market
- By the next decade, the blow molded bottles market is expected to grow by 1.6x times than its current value.
- Based on material, the plastic segment is expected to grow at a CAGR of 4.6% in the forecast period from 2022-2032.
- By end use, the food & beverages segment is estimated to reach a valuation of US$ 58 Bn by the end of 2032.
- The South Asia blow molded bottles market is predicted to account for roughly 23.5% of the global market share during the forecast period.
- The India blow molded bottles market is expected to create an incremental opportunity of US$ 6.1 Bn by 2032.
“Urgent need to increase the shelf life of food products and rising concerns about the safety of food & beverages are projected to boost the global blow molded bottles market,” says a FMI analyst.
Increasing Demand for Biodegradable Plastic to Boost the Global Market
Use of recyclable or biodegradable plastics is on the rise as a result of growing concerns regarding environmental damage brought on by the overuse of plastic. The majority of firms are nowadays employing compostable substitutes for plastic since government agencies have implemented strict laws and outlawed the use of plastic for packaging.
Many countries have framed new regulations and laws to encourage firms to switch from conventional plastic to recyclable plastic, notably in the packaging industry, because of its many advantages.
For instance, Greif Inc. sells refurbished and remanufactured plastic containers that are built with HDPE, which has been recycled 75% from post-consumer containers. With these changes, the blow molded bottles market will witness a significant amount of growth in the near future.
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Expansion of E-commerce and Logistics to Create New Opportunities for Blow Molded Bottles Manufacturers
E-commerce and direct-to-consumer delivery techniques have exhibited tremendous growth. Over the past few years, there have been some significant changes in shipping and transportation procedures as a result of shifting customer shopping habits and growing popularity of e-commerce. Owing to the aforementioned trends, packaging solutions have undergone numerous changes in order to meet end-use requirements, while also being more secure and sophisticated.
Understanding and recognizing the transportation method helps packaging engineers around the world to create plastic bottles in the most sustainable way possible. Increasing need among packaging engineers and manufacturers to develop innovative plastic containers, including bottles is set to aid growth.
Competitive Landscape: Blow Molded Bottles Market
Some of the leading players in the blow molded bottles market include ALPHA Packaging, Millet Plastics Inc., Zhongshan Boyu Precision Mould Manufacturing Co., Ltd, APEX Plastics, Valencia Plastics, Inc., Us Pack Group, Urola Packaging, Robinson plc, Gil Pack, PET Blow Molding, S.I.P.A. S.p.A., Rosti Group AB, Berry Global, O. BERK, Retal Industries Ltd, Grief Inc, Visy, Garrtech Inc, Graham Packaging co, and LyondellBasell Industries B.V among others.
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Get Exclusive Insights on Blow Molded Bottles Market
Future Market Insights, in its new report, offers an unbiased analysis of the global market for blow molded bottle market by capacity (below 100ml, 100-500ml, above 500ml), material (plastic, glass, metal), end use (food & beverages, pharmaceuticals, cosmetics & personal care, homecare, others (chemicals, etc.)).
Table of Content
1. Executive Summary
1.1. Global Market Outlook
1.2. Demand-side Trends
1.3. Supply-side Trends
1.4. Technology Roadmap Analysis
1.5. Analysis and Recommendations
2. Market Overview
2.1. Market Coverage / Taxonomy
2.2. Market Definition / Scope / Limitations
3. Market Background
3.1. Market Dynamics
3.1.1. Drivers
3.1.2. Restraints
3.1.3. Opportunity
3.1.4. Trends
3.2. Scenario Forecast
Explore FMI’s Extensive Ongoing Coverage on Packaging Domain
Blow Molded Plastic Market Analysis: The global blow molded plastic market is created by the unique manufacturing process of blow molding, usually the procedure for creating hollow plastic parts. The blow molded plastic market is projected to have a moderate-paced CAGR of 7.4% during the forecast period.
Blow Moulded Plastic Packaging Market Size: In the latest report by Future Market Insights, on global moulded plastic market it has been projected that market to grow over the CAGR of 3% in the forecast years. The industry is estimated to flourish over the long term.
PET Stretch Blow Molding Machines Market Value: Future Market Insights (FMI) presents a positive growth outlook in PET stretch blow molding market survey. As per the analysis, PET stretch blow molding machines demand will rise at a year-on-year (YoY) growth of 2.3% in 2021 to total 3720 units by the end of the year.
Injection Blow Molding Machine Market Trends: The global Injection blow molding machine market is expected to be valued at US$ 2,456.2 Million in 2022, expected to reach US$ 3,670.9 Million by 2032. A CAGR worth 4.1% is expected for the market during the 2022-2032 forecast period.
Stretch Blow Molding Machines Market Forecast: The global stretch blow molding machines market is predicted to hold a market value of US$ 984 Mn by 2027, experiencing a slow growth of CAGR of 3.1% during the forecast period. The rotary segment is projected to account for 39.3% market share in APEJ by 2022.
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