Blow Molding Resin Market: Introduction
Blow molding resins are used in blow molding processes. Blow molding is a process of forming hollow products by expanding plastic parts against internal surface of a mold by using resins. Thus, products formed possess chemical, scratch, and abrasion resistance along with high gloss. Blow molded products also exhibit stiffness, environmental stress cracking resistance, high load melt strength, and rigidity. Such properties enhance the use of resin for blow molding applications. Blow molding resin is used in various applications. It is employed in packaging, automotive, and construction industries. Blow molding resin is used for the production of bottles, cans, and containers that are used in pharmaceutical, food & beverages, personal care, and chemical industries.
Blow Molding Resin Market: Segmentation Overview
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By Type, the blow molding resins market is segmented such as polyethylene, polypropylene, polyvinyl chloride, and polyethylene terephthalate. Polyethylene is expected to be a rapidly growing segment of the market during the forecast period. Polyethylene blow molding resin is used in various application to contributed to their stiffness, Environmental Stress Cracking Resistance (ESCR), high load melt strength, and provide excellent rigidity. In terms of application, the blow molding resin market can be segmented into packaging, automotive & transportation, construction & infrastructure, and others. Packaging is estimated to be a rapidly growing segment during the forecast period. Rise in usage of blow molded resin products to package pharmaceutical, food & beverages, cosmetics, and industrial products such as chemicals, acids, and lubricants is driving the market. Automotive & transportation is the major segment in terms of application.
Blow Molding Resin Market: Overview
Growth in the packaging industry is boosting the demand for blow molding resins across the globe. Blow molding resins are used extensively in food packaging & bottling including bakery products, dry foods, meat, pet food, and ready-to-eat processed food. Increase in usage of blow molding resins in cosmetics & personal care products, health & hygiene packaging, and pharmaceuticals is projected to fuel the market. Growth in demand for lightweight vehicles owing to the implementation of stringent regulations concerning harmful emissions is a key factor driving the global blow molding resin market. Volatility in prices of crude oil and other raw materials is restraining the market.
Blow Molding Resin Market: Regional Outlook
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In terms of region, the blow molding resin market can be segmented into North America, Latin America, Asia Pacific, Europe, and Middle East & Africa. The blow molding resin market in Asia Pacific is estimated to expand significantly during the forecast period. Presence of leading blow molding resin producers in the region is driving the market in the region. Increase in usage of blow molding resins in applications such as packaging, automotive, construction, and electronics in countries such as China, Japan, and India is augmenting the blow molding resin market. Growth in urbanization and industrialization is another factor boosting the blow molding resin market in Asia Pacific. Europe is also a key region of the market, led by the high investment in health care to provide hygienic environment to citizens. Europe is the hub for the production and export of lightweight automotive. Thus, it holds prominent share of the blow molding resin market. The food & beverages packaging industry in North America has been expanding significantly since the last few years. High demand for these resins in construction and cosmetics & personal care products is expected to drive the blow molding resin market in the region. Automotive, packaging, and cosmetic industries in Latin America have been expanding significantly. The market in Middle East & Africa is expanding substantially owing to the rise in demand for these resins in construction and infrastructure activities.
Blow Molding Resin Â Market: Key Players
Key players operating in the global blow molding resin market are DowDuPont, Eastman, Exxon Mobil Corporation, Solvay, Chevron Corporation, Reliance Industries Limited, LyondellBasell Industries Holdings B.V., SABIC, INEOS, Formosa Plastics Corporation, and China National Petroleum Corporation.
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The report provides the following information: Tailwinds and headwinds molding the marketÃÂ¢Ã¢âÂ¬Ã¢âÂ¢s trajectory Market segments based on products, technology, and applications Prospects of each segment Overall current and possible future size of the market Growth pace of the market Competitive landscape and key playersÃÂ¢Ã¢âÂ¬Ã¢âÂ¢ strategies
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