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Blow molding includes three primary thermoplastic processes i.e. blow extrusion molding, blow molding by injection, and stretch blow molding. The most extensive of the three is the extrusion blow molding, accompanied by stretch blow molding and injection blow molding. Blow molding is a production method used to make vacuous plastic parts in the correct form, such as containers, plastic drums, bottles, and storage tanks. Plastic producers increasingly like it, because it helps them to produce plastic in higher quantities.
Strong growth due to several advances in technology, such as the development of fully electric blow molding machinery, which is a major innovation and is also the industry's popular trend. New machinery provides higher precision, speed, repeatability, and most importantly, energy efficiency, which can be achieved by blow bolding, thus driving the market growth.
However, the fluctuations in the prices of critical raw materials and the increasing environmental issues concerning the processing and disposal of such goods are anticipated to limit the market growth.
Key Market Driver -
Strong growth in technical advancements drives the market.
Key Market Restraint -
Volatility in the prices coupled with environmental concerns restrict the market growth
Based on product type, the market for blow molds is further segmented into HDPE, PET, PVC, Polypropylene, Others. Based on application, the market for blow molds is further segmented into food and beverage, personal care products, medical industry, automobile industry, household and cleaning products, industrial and agricultural chemicals, other. From a geographical standpoint, the market is categorized into North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa.
The global blow molds market is fairly fragmented, with a number of global & regional players operating. Some of the key players in the blow molds market include Kiefer Mold Technologies, GDXL, Heise Industries Inc, Creative Blow Mold Tooling, Valencia Plastics Inc, Cado Company, PET Technologies, Monroe Mold, Yankang Machine, Rocheleau Tool, and others.
In terms of Geography, the blow molds market has been segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. In terms of both consumption and output, the Asia-Pacific region dominates the blow molds market. Owing to favorable economic environment and the advent of many domestic manufacturers with strong technological capabilities at relatively low cost compared to the major markets in Europe and North America have supported the region 's growth. China, the largest manufacturing center, has seen tremendous growth of end-use sectors consuming these blow-molded compounds. Strong market knowledge, technologically advanced manufacturing bases and, most significantly, a diverse end-user environment define North American industry. Europe was the regional market leader with an economy dominated by applications for automotive, industrial machinery and packaging. The Middle East and Africa are predicted to face sluggish growth due to the influence of tight regulations by the governments. As a result of the limited number of manufacturers slowing down market growth, Latin America is seeing relatively slow growth.
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