"We Envision Growth Strategies Most Suited
to Your Business"
The global blow molded plastics market size is projected to reach USD 100.13 billion by the end of 2027. The presence of several large scale companies in this sector will emerge in favor of the growth of the global market. According to a report published by Fortune Business Insights, titled “Blow Molded Plastics Market Size, Share & COVID-19 Impact Analysis, By Resin (Polyethylene Terephthalate (PET), Polyethylene (PE), Polypropylene (PP), Polyvinyl Chloride (PVC), Polystyrene (PS), Acrylonitrile butadiene styrene (ABS)), By Molding Method (Extrusion Blow Molding, Injection Blow Molding, Stretch Blow Molding, Rotational Blow Molding), By Application, and Regional Forecast, 2020-2027,” the market was worth USD 77.07 billion in 2019 and will exhibit a CAGR of 2.8% during the forecast period, 2020-2027.
Blow-molded plastics are widely used in numerous applications in the packaging industry for storage and shipping purposes. Although the product is widely used across several other industries, the packaging industry is the leading application space. The method used in manufacturing of these products is cheaper and easy as compared to other options. The massive investments in the research and development of efficient blow-molded plastics will have a huge impact on the growth of the overall market in the coming years.
The presence of several large scale companies across the world is consequential to the increasing applications and subsequently rising demand for the product across the world. Blow molding is one of the most-widely adopted methods in manufacturing, mainly due to their cost-effective nature and the recent technological advances in these methods will bode well for the global market in the immediate as well as long run.
Comar’s Acquisition of iMARK Molding is Among the Major M&As of Recent Times
The report highlights a few of the major industry developments that have graced the global lithium market in recent times. Accounting to the increasing applications and the subsequently rising demand for blow-molded plastics across the world, there is healthy market competition on the global stage. The presence of several large scale companies has encouraged newer companies to focus on innovations and newer strategies.
In January 2020, Comar announced that it has completed the acquisition of iMARK Molding. The former is a supplier of rigid plastic packaging and has established itself as a leading company in recent years. This acquisition will help Comar extend in the medical industry. iMARK’s exceptional portfolio in the medical and pharmaceutical segment will have a massive impact on the growth of Comar’s businesses in the coming years.
To get a detailed report summary and research scope of this market, click here:
Increasing Demand for Innovative Packaging will Bode well for Market Growth
The rising demand for innovative packaging solutions will have a huge impact on the growth of the market in the coming years. The demand for innovative solutions widens the application scope and the area for experimentation and innovations for companies in this sector. Moreover, the rising demand for sustainable and eco-friendly packaging will result in massive investments in the research and development associated with the material used in blow molded plastics.
Apex Plastics and Berry Global, Inc are Among the Leading Companies in the Global Market
Although the market is highly competitive, there are a few companies that stand out from the rest. Apex Plastics and Berry Global are a couple of companies that have established a strong brand presence over the past few years. These companies have focused on innovative strategies and implemented methods that have help them stand out from their alternate counterparts.
List of companies profiled in the blow molded plastics market report:
The global market is segmented based on:
Value (USD Billion/USD Million) and Volume (Million ton/Kilo ton)
By Molding Method