Blow Molding Resins Market, Regional Analysis, Key Players and Competitive Landscape Forecasts by 2030

 

Blow Molding Resins Market

On the basis of the molding process, the market is segmented into extrusion, injection blow molding, and injection stretch blow molding. Among these processes, 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, and appliance components are some of the products manufactured through extrusion. Injection blow molding is expected to be the fastest emerging as it enables production in a shorter time, although it is highly expensive and consumes a lot of space.

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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).

Among the end-use industry segment, 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 the trade of lightweight and durable automotive and consumer electronics is expected to fuel the product demand during the review period.

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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 considerable growth due to high demand from the food & beverage packaging industry.

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