Wilmington, Delaware, United States, Sept. 05, 2023 (GLOBE NEWSWIRE) -- Transparency Market Research Inc. - The global market for blow molding machine was estimated to have acquired US$ 43 billion in 2019. It is anticipated to advance at a 4% CAGR from 2020 to 2030 and by 2030, the market is likely to gain US$ 65.1 billion. Consumers are demanding eco-friendly items more than ever these days compared to prior years.
Manufacturers are capturing this awareness as they search for more environmentally friendly alternatives to plastic. The demand for molders is predicted to be driven by the booming bio-plastics sector during the anticipated term. Innovative formulations are being created to improve functionality as well as durability, which is a major factor in the increase in demand for eco-friendly materials.
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Global Blow Molding Machine Market: Key Players
The market for blow molding machines is very competitive. The presence of many unorganized firms makes the market more competitive. To increase their market share, a number of significant firms are putting a lot of effort into new product launches as well as mergers and acquisitions.
The following companies are well-known participants in the global blow molding machine market:
- The Japan Steel Works, Ltd.
- Jomar Corp.
- PARKER PLASTIC MACHINERY CO., LTD
- Jiangsu Victor Machinery CO., Ltd
- GOLFANG Mfg. & Development Co., Ltd.
- SUMA Plastic Machinery Co. Ltd
- SuZhou Bestar Blow Molding Technology Co. Ltd.
- Universal Machinery & Services
- BLOW ENTERPRISES
- NISSEI ASB MACHINE CO., LTD.
- Jagmohan Pla-Mach Pvt. Ltd
Key developments in the global market for blow molding machine are:
- In 2019, Bekum Maschinenfabrik GmbH announced that it has unveiled the Concept 808 blow molding machine for packaging at K2019, the biggest trade show for plastics and rubber in the world. The new machine includes a multi-cavity three-layer application featuring Bekum Control 8.0, an intuitive touchscreen.
- The TechnoDrive 65 IBM, an innovative injection blow molding machine, was introduced by Jomar Corp. in 2017. The Jomar Model 65 is this machine's high-speed, high-production variant. For India and Asia, the TechnoDrive 65 is Jomar's most often used machine size. The dry cycle duration of the TechnoDrive 65 IBM machines is only 1.8 seconds, which is one full second quicker than the hydraulic Jomar 65 standard. Among IBM computers of comparable sizes, the ordinary hydraulic Jomar 65 already ranks among the most rapid. This high-yield machine widens the gap even further and extends Jomar's dominance as the injection blow mold machine with the greatest production per square foot.
These molders are becoming more prevalent because to technical improvement and customer desires for sustainability. The market for blow-hold machines is anticipated to develop as a result of the trend as sales of goods made from bioplastics are anticipated to increase in the near future.
Key Findings of the Market Report
- Plastic bottles manufactured from polypropylene, polyethylene, and polyethylene terephthalate are mostly produced using blow molding equipment.
- When soft drinks and specialty bottles, such as beer containers, are made of plastic, polyethylene terephthalate is frequently used.
- The material polyethylene terephthalate is affordable, lightweight, non-reactive, and shatterproof.
Market Trends for Blow Molding Machine
- Plastic consumption has been increasing significantly during the past 20 years. Plastics are now widely used in many facets of contemporary life.
- Protective packaging, insulation materials in buildings, mobile phones, lightweight and safety components in automobiles, home appliances, medical equipment, and furniture pieces are only a few of the things that are predominantly made of plastic.
- During the forecast period, an increase in plastic use in the automotive, building & construction, and electrical & electronics sectors is anticipated to drive the market.
- The International Trade Centre (ITC) estimates that the global market for plastics and related goods reached US$ 655.79 billion in 2018, a growth of almost 9% from the previous year.
- Increased plastic production and consumption are anticipated to drive the market for plastic goods. The market for blow molding machines is projected to grow.
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Blow Molding Machine Market Regional Outlook
Various reasons are propelling the growth of the blow molding machine market in different regions. These are:
- During the forecast period, North America is expected to be a very profitable region of the global blow molding machine market. The majority of North American manufacturers are heavily involved in the introduction of new blow molding machine product lines for the global plastic machinery industry.
- In 2019, the United States led the North America blow molding machine market. During the time of the forecast, it is anticipated to keep holding the lead. The blow molding machine market in North America is expected to have significant growth in the United States during the projected period. The United States is one of the countries that consumes a significant quantity of bottled water globally.
Global Blow Molding Machine Market Segmentation
Type
- Extrusion
- Injection
- Stretch
Raw Material
- Polyethylene
- Polyethylene Terephthalate
- Polypropylene
- Polyvinyl Chloride
- Polystyrene
- Others (including Polycarbonate)
End-use Industry
- Packaging
- Transportation
- Building & Construction
- Electrical & Electronic
- Others (including Medical & Healthcare and Chemicals)
Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Asia Pacific
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