The global blow molded plastics market size was USD 85.73 Billion in 2022 and is expected to register a revenue CAGR of 5% over the forecast period, according to the latest report by Reports and Data.
One of the primary reasons driving revenue growth in the blow molded plastics market is the increasing need for sturdy and lightweight packaging solutions across various sectors. Blow molded plastics are commonly used in the packaging industry to manufacture lightweight, robust, and easy-to-handle bottles, containers, and other packaging materials. Another element boosting demand for blow-molded plastic packaging solutions is rising consumer awareness of sustainable packaging alternatives, which has led in a shift away from traditional packaging materials such as glass and metal and toward more environmentally friendly plastic equivalents.
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Market Scenario:
The materials and chemicals sector has significantly grown over the recent years and is expected to register robust revenue CAGR over the forecast period. The materials and chemicals sector comprises daily wear products such as detergents, perfumes, soaps, and other raw materials and chemicals used in the manufacturing of other products. There has been a significant increase in the demand for raw materials and chemicals across various industrial sectors such as healthcare and pharmaceuticals, automotive, agriculture, manufacturing, paint, and food and beverages among others. Factors such as increasing awareness about green energy and excess carbon emission, changing consumer preference, growing adoption of biodegradable, sustainable and eco-friendly products, and rapidly expanding industries and building and construction sector are expected to boost global market revenue growth going ahead.
Major Companies:
- Berry Global Inc.
- ExxonMobil Corporation
- LyondellBasell Industries Holdings B.V.
- The Dow Chemical Company
- SABIC
- Ineos Group Holdings S.A.
- Comar, LLC
- Alpha Packaging
- Custom-Pak, Inc.
- Apex Plastics
Competitive Landscape:
The report further sheds light on the competitive landscape and provides in depth information about each market player including its global position, product portfolio, financial standing, revenue growth and company overview. The market players are focused on adopting various inorganic and organic growth strategies such as mergers and acquisitions, joint ventures, collaborations, product launches and partnerships to gain a robust footing in the market.
Key questions addressed in the report:
· What is the expected market size of the global Blow Molded Plastics market during the forecast period?
· What CAGR is the global market expected to register during the forecast period?
· Which key factors are expected to boost global market growth between 2021 and 2028?
· What are the key restraints that are expected to hamper global market growth?
· Which regional market is expected to register robust CAGR during the forecast period?
· Which key players are operating the global Blow Molded Plastics market?
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Blow Molded Plastics Market Segmentation:
Type Outlook:
· Polyethylene (PE)
· Polypropylene (PP)
· Polyvinyl Chloride (PVC)
· Polystyrene (PS)
· Polyethylene Terephthalate (PET)
· Others
Application Outlook:
- Packaging
- Automotive & Transportation
- Construction & Infrastructure
- Consumer Goods
- Healthcare
- Others
Regional Outlook:
· North America
o U.S.
o Canada
o Mexico
· Europe
o Germany
o U.K.
o Italy
o France
o BENELUX
o Rest of Europe
· Asia Pacific
o China
o India
o Japan
o South Korea
o Rest of APAC
· Latin America
o Brazil
o Rest of LATAM
· Middle East & Africa
o Saudi Arabia
o U.A.E.
o South Africa
o Rest of MEA
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