Regional Analysis
Regionally, the global blow molding resins market is segmented into five regions namely Asia Pacific, North America, Europe, Latin America, and the Middle East & Africa.
Asia Pacific dominated the global blow molding resins market in 2017 on account of the high demand for blow molding resins from major end-use industries such as packaging, automotive, construction, electronics, and others.
Europe accounted for the second largest market share in 2017 owing to the production and exportation of lightweight automotive parts in the region.
North America is expected to witness a considerable growth due to high demand from the food & beverage packaging industry.
Competitive Analysis
Some of the manufacturers operating in the global blow molding resins market are BASF SE (Germany), Eastman Chemical Company (U.S.), LyondellBasell Industries Holdings B.V. (Netherlands), DowDuPont (U.S.), SABIC (Saudi Arabia), Exxon Mobil Corporation (U.S.), Solvay (Belgium), INEOS (Switzerland), China Petrochemical Corporation (China), Formosa Plastics Group (Taiwan), Chevron Corporation (U.S.), Versalis S.p.A. (Italy), Lanxess (Germany), Reliance Industries Limited (India), and LG Chem (South Korea).
The global blow molding resins market is segmented by a molding process, type, end-use industry, and region.
On the basis of the molding process, the market is segmented into extrusion, injection blow molding, and injection stretch blow molding. Among these processes, the extrusion has primarily used the technique to produce a large variety of hollow parts or objects with thin walls. This can be attributed to the low tool and die cost, fast production rates, and its capability of manufacturing different types of plastic products with different shapes, sizes, and neck openings. Products of different shapes such as T-section, U-section, L-section, square, and circular section can be produced by employing this technique. Bottles, industrial parts, automotive parts, watering cans, toys, appliance components are some of the products manufactured through extrusion. Injection blow molding market size is expected to be the fastest emerging as it enables the production in shorter time, although it is highly expensive and consumes a lot of space.
A broad range of resins is available in the market such as polyethylene, polypropylene, polyethylene terephthalate, acrylonitrile butadiene styrene, polyvinyl chloride, nylon/ polyamides, polycarbonate, and others. The polyethylene is the dominating the market due to its use in a wide range of products, depending upon its density. HDPE is used for shampoo and motor oil containers, fuel tanks, industrial drums, and others. It is chemically inert, translucent, easily colored, recyclable, and molder-friendly. With the same properties, LDPE is used for plastic bags, squeeze bottles, among others. The demand for PET is mainly driven by its use in bottling applications for mineral water and other beverages. Moreover, recent R&D for a bio-based PET is likely to offer substantial opportunities in the global market. The use of ABS in automotive decreases the overall weight of the vehicle by 10%, which is the major factor propelling the product demand. On the other hand, polypropylene has lower density and is usually used in elevated temperature for medical parts that need autoclave sterilization, which is expected to boost the product demand over the review period.
Among the end-use industry segment, the packaging is leading the global blow molding resins market. The shifting trend towards the usage of plastic products instead of conventional materials such as wood and metal for packaging is likely to fuel the demand over the forecast period. This is primarily due to their recyclability and biodegradability, which is one of the major concerns. The rise in trade of lightweight and durable automotive and consumer electronics is expected to fuel the product demand during the review period.
Access Report @ https://www.marketresearchfuture.com/reports/blow-molding-resins-market-6127
NOTE: Our Team of Researchers are Studying Covid19 and its Impact on Various Industry Verticals and wherever required we will be considering Covid19 Footprints for Better Analysis of Market and Industries. Cordially get in Touch for More Details.
Market Research Future Published a Half Cooked Research Report on Global Blow Molding Resins Market Research Report – Forecast to 2023Industry Overview:Blow Molding is considered a process which is done for forming hollow products by mounting a hot plastic mass against the internal surfaces of a mold.
Therefore, the products developed by Blow Molding exhibit chemical, scratch, and abrasion resistance along with the high gloss.
Market Research Future has published a new report stating that Global Blow Molding Resins Market is proliferating remarkably and will continue with the same pace of growth during the forecast period by 2023.Key Players:Some of the Efficient Manufacturers Operational in the Global Blow Molding Resins Market are named as BASF SE (Germany), Eastman Chemical Company (U.S.), LyondellBasell Industries Holdings B.V. (Netherlands), DowDuPont (U.S.), SABIC (Saudi Arabia), Exxon Mobil Corporation (U.S.), Solvay (Belgium), INEOS (Switzerland), China Petrochemical Corporation (China), Formosa Plastics Group (Taiwan), Chevron Corporation (U.S.), Versalis S.p.A. (Italy), Lanxess (Germany), Reliance Industries Limited (India), and LG Chem (South Korea).Industry News:3rd Jule 2019: Milacron Holdings Corp. completes $51M sale of Uniloy blow molding business to two private equity businesses, and Milacron announced the price that is nearly $51.9 million.Get Free Sample @ https://www.marketresearchfuture.com/sample_request/6127Industry Drivers & Trends:The Global Blow Molding Resins Market is chiefly driven by factors such as escalating demand from the packaging industry as these have extreme features such as flexibility, durability, and low cost as well as superior properties of scratch and chemical resistance.
As these posses, such immense features, the Blow Molding Resins are extensively used in food packaging & beverage bottling, including bakery products, dry foods, meat & cheese, pet food, snacks, carbonated drinks, and others.The rising demand for ready-to-eat processed food that has longer perishability owing to the fast-paced lifestyle has amplified the application in the food & beverage packaging, which in turn has augmented the market growth remarkably.
Also, the high demand for light-weight vehicles due to the stringent emission regulations with the concern of environmental health is anticipated to stimulate the product demand over the review period.
It has also been studied that the high penetration of blow molding products in primary industries of food & beverage, automotive, consumer goods, and many others have undoubtedly shifted the focus of key players towards market development, which has impacted the market growth incredibly.However, on the flip side, the unpredictability in the prices of crude oil could be a negative impact on the Global Blow Molding Resins Market growth during the forecast period.Browse Key Industry Insights spread across 100 pages with 47 market data tables & 12 figures & charts from the report, “Blow Molding Resins Market Information: By Molding Process (Extrusion, Injection Blow Molding), Type (PE, PP, PET, ABS, PC, and Others), End-Use Industry (Packaging, Automotive, Consumer Goods, and Others) and Region – Growth Potential, Price Trends, Competitive Market Share & Forecast 2023” in detail along with the table of contents: https://www.marketresearchfuture.com/reports/blow-molding-resins-market-6127Industry Segmentation:Global Blow Molding Resins Market has been segmented by the Molding Process, Type and End-Use Industry.In terms of the Molding Process, Global Blow Molding Resins Market has been segmented as extrusion, injection blow molding, and injection stretch blow molding.In terms of the Type, the market has been segmented as polyethylene, polypropylene, polyethylene terephthalate, acrylonitrile butadiene styrene, polyvinyl chloride, nylon/ polyamides, polycarbonate, and many others.In terms of the End-Use Industry, the market has been segmented into packaging, automotive, consumer goods, building & construction, electronics, and others.Read our Blogs @ http://mrfrblog.comRegional Outlook:Global Blow Molding Resins Market is covered across critical regions of Asia Pacific, North America, Europe, Latin America, and the Middle East & Africa.The Asia Pacific led the Global Blow Molding Resins Market in 2017 in support of high demand for Blow Molding Resins in major end-use industries such as packaging, automotive, construction, electronics, and others.
