The global blow-molded plastics market grew from $89.39 billion in 2022 to $92.93 billion in 2023 at a compound annual growth rate (CAGR) of 4.0%. The blow-molded plastics market is expected to grow to $108.75 billion in 2027 at a CAGR of 4.0%, according to a report published in February by Reportlinker. The market consists of sales coveringcompound blowmolding and compression blowmolding.
Asia-Pacific was the largest region in the blow-molded plastics market in 2021 and is expected to remain the largest through the forecast period.
Producing hollow plastic products from thermoplastic materials is a quick manufacturing solution and offers versatile products with broad industrial appeal. Markets include food suppliers, medical and pharmaceutical companies, and others.
Major types of blow-molded plastics are polypropylene, acrylonitrile butadiene styrene (ABS), polyethylene, polystyrene, polyvinyl chloride PVC, PET, and others. Polypropylene (also known as propane or propylene) is a tough, rigid, crystalline thermoplastic derived from the monomer propane or propylene.
Polypropylene is used in a variety of applications, including plastic packaging, machinery and equipment parts, and fibers and textiles. Extrusion, injection, and stretch are the various technologies used in blowmolding plastics for packaging, consumables, electronics, automotive and transport, building and construction, medical, and other applications.
Companies are investing in research and development to produce new industrial plastics to keep up with market competitiveness and meet evolving end-user demands.
For instance, in 2020, Comar, a US manufacturer and designer of innovative plastic solutions, announced locating a custom facility in Rancho Cucamonga, CA. The 230,000-square-foot facility is Current Good Manufacturing Practice regulation (cGMP)-compliant, ISO 13485-certified, and FDA-registered, with dedicated injection blowmolding, injection-stretch blowmolding, and injection-molding cells.
The new facility offers a full-service mold prototyping lab as well as a specialized mold sample and development machine, allowing customers to quickly move from concept through design, prototype, and full production.
In October 2021, Recycler EFS-plastics Inc., a Canada post-consumer plastics recycler with a focus on processing bales of low-value plastics, acquired Exi-Plast Custom Moulding for an undisclosed amount. Through this acquisition, EFS can directly manufacture finished products with high levels of post-consumer recycled plastic for its customers. Exi-Plast Custom Moulding is a Canadian company that provides custom plastic molding services, particularly in blow-molded solutions for designers, manufacturers, and distributors.
For the packaging sector, AIMPLAS presented results of projects that included biodegradable barrier packaging made from food waste, plastic film derived from coffee waste, active packaging that extends the shelf life of cheese and is made from cheese-industry waste, and cartridges for 3D food printing.
Success stories at the seminar included the biodegradability of proprietary bioplastic material; biopolymer solutions for sustainable agriculture; and a method for measuring biodegradation in compost, fresh and waste waters, soil, and marine environments.
You can find more information about the report at Reportlinker.