NEWARK, Del, Feb. 21, 2023 (GLOBE NEWSWIRE) -- The stretch blow molding machines market is anticipated to expand its roots at an average CAGR of 3.4% between 2023 and 2033. The market is anticipated to cross a market share of US$ 1.2 billion by 2033 while it is likely to be valued at US$ 871.9 million in 2023.
- The rapidly increasing demand for packaged food and beverages due to the growing number of young populations working in corporates fuels the market growth. Furthermore, the introduction of new packaging products is also fueling the demand for stretch blow molding machines.
- The consumption through pharmaceutical, automotive, and FMC sectors is rising as the effects of covid-19 diminish. Alongside, the vendors working on an efficient and faster molding method that promotes lower raw wastage are expanding the stretch blow molding machines market.
- Asian economies with higher populations and increased verticals are garnering market growth during the forecast period.
- The increased presence of small and medium-sized packaging solutions are anticipated to contribute to the growth of the stretch blow molding machines market.
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Key Points
- The United States market is likely to hold the biggest space in the stretch blow molding machines market in terms of market share. The market growth is attributed to the expanding packaged consumables and restoration of packaging growth.
- The rising demand for precision and accuracy in production of packaging products fuels the regional growth at a CAGR of 3.0% during the forecast period. The regional market is expected to hold a value of US$ 286.0 million by 2033.
- The Chinese stretch blow molding machines market is the region in the market with a CAGR of 3.7% between 2023 and 2033. The regional growth is attributed to the higher working population coupled with the increased FMCG brands.
- India is leading the market in terms of the CAGR with a CAGR of 4.4% while it expects to reach a value of US$ 107.2 million by 2033.
- The two-step segment is likely to thrive in the technology type category as it thrives on a CAGR of 3.8% between 2023 and 2033. The growth is attributed to factors like higher consumption and faster processing.
- The rotary segment is expected to top the orientation category with a CAGR of 2.6% during the forecast period. The growth of this segment is fueled by faster production.
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Competitive Landscape
The key competitors are working on transforming the machine so that it can cater to the modern-day packaging style such as sustainable and green packaging.. Key competitors also merge, acquire, and partner with other companies to increase their supply chain, and distribution channel. The key players in the market are: Pet All Manufacturing Inc, R&B Plastics Machinery, LLC, Zhejiang Huangyan Lingma Plastic Machinery, SIPA North America, Inc., Nissei asb company, Sidel, Jomar Corporation, Custom-Pak Inc and Tech-Long Inc.
Recent Market Developments
- Jomar Corporation has introduced the IBM techniques with no scrap, no trimming, no waste, and lower requirement of auxiliary equipment.
- SIPA North America, Inc has launched its stretch blow molding machine that produces preforms, bottles, moulds, and complete lines.
Key Segments
By Technology Type:
- Single-step Based
- Two-step Based
By Orientation Type:
- Rotary Type Machine
- Linear Type Machine
By End Use:
- Food & Beverage Industry
- Personal Care & Cosmetic Industry
- Consumer Goods Industry
- Pharmaceuticals Industry
- Others
By Region:
- North America
- Latin America
- Europe
- Asia Pacific (APAC)
- Middle East & Africa (MEA)
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Table of Content
1. Executive Summary | Stretch Blow Molding Machines Market
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
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About the Packaging Division at Future Market Insights
The packaging division at Future Market Insights provides an in-depth historical analysis and projections for the next ten years and covers the competitive landscape through a unique dashboard view. Ranging from packaging materials, and packaging machinery to packaging designs & formats, Future Market Insights has an exhaustive database for these industry verticals, serving clients with unique research offerings and strategic recommendations. With a repository of 1,000+ reports, the team has analysed the packaging industry comprehensively in 50+ countries. The team evaluates every node of the value chain and provides end-to-end research and consulting services; reach out to explore how we can help.
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