Blow Molding Resins Market Analysis -
The global blow molding resins market is anticipated to grow at a healthy CAGR between 2021-2030, states the latest Market Research Future (MRFR) report. Blow molding, simply put, is a process to make hollow products by expanding plastic portions against the mold’s inner surface by using resins. Products created through this process exhibit abrasion, scratch, and chemical resistance together with high gloss. It has extensive applications in the construction, packaging, and automotive industries.
Various factors are propelling the blow molding resins market growth. Such factors, as per the latest Market Research Future report, include growing demand for making lightweight vehicles for strict emission regulations about environment health, excessive use in health and hygiene packaging, and cosmetics personal care products, increasing demand for processed food that are ready-to-eat with longer perishability owing to the fast-paced lifestyle, and growing demand from the packaging industry owing to their low cost, durability, and flexibility as well as superior characteristics of chemical and scratch resistance.
On the contrary, fluctuations in the price of crude oil may deter the blow molding resins market growth during the forecast period.
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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)., and others.
For the past few decades, automotive designers replaced heavier metal components with engineering plastics and composites. This practice has now broadened beyond exterior components and interior fixtures. advances in polymer technology has made it possible for engineers to have a wider range of new and lighter options for underhood and drivetrain components. Significantly, these materials offer greater design liberty and fit in well with the light weighting strategies. But these replacements also necessitate the use of products like Blow Molding Resins thus acting as indirect drivers for the Blow Molding Resins Market.
In the construction industry as well, Blow Molding Resins are being widely used as they are being made necessary by innovative solutions for polymer improvement. Polymers are being used in making roofs and outdoor decks more weather-proof, window frames more aesthetic, and due to the protection given by light stabilizers as well as a strong heat resistance resulting from the use of antioxidants or Blow Molding Resins, plastics for industrial, building and construction solutions are well protected against temperature or even against intense UV radiation, as well as other difficult weather conditions. Furthermore, the statistical surveying report focuses on the product specifications, cost, production capacity, marketing channel, list of the distributors, and a comprehensive analysis of the import and export of the product. Upstream raw materials, downstream demand analysis, as well as the list of consumers have been studied systematically, along with the supplier and cost of this industry. The product flow and distribution channel have also been presented in this research report.
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Segment Study of Blow Molding Resins Market :-
The Market Research Future report provides an all-inclusive segmental analysis of the blow molding resins market on the basis of end use industry, type, and molding process.
By molding process, the blow molding resins market is segmented into injection stretch blow molding, injection blow molding, and extrusion.
By type, the global blow molding resins market is segmented into polycarbonate, acrylonitrile butadiene styrene, polyethylene terephthalate, polypropylene, polyethylene, nylon/polyamides, polyvinyl chloride, and others. Of these, the polyethylene segment will lead the market during the forecast period for its excellent properties, including excellent rigidity, high load melt strength, environmental stress cracking resistance, and high stiffness.
By end use industry, the blow molding resins market is segmented into electronics, building and construction, consumer goods, automotive, packaging, and others. Of these, packaging will dominate the market during the forecast period for its growing demand, especially for packaging products, which can be used efficiently at low costs.
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Blow Molding Resins Market Market - Geographical Analysis :-
By region, the blow molding resins market report covers the latest trends and growth opportunities across the Asia Pacific (APAC), Europe, Latin America, North America, and the Middle East and Africa (MEA). Of these, the APAC region will spearhead the market during the forecast period. Various factors propelling the growth of the blow molding resins market in the region include burgeoning demand from different end use industries including consumer goods, automotive, packaging, and others, growing industrialization and urbanization, increasing demand from the e-commerce sector, high per capita income, and the increasing demand from the automotive as well as packaged foods and beverages sector.
The blow molding resins market in Europe will have the second-largest share during the forecast period. Various factors propelling the growth of the blow molding resins market in the region include the growing demand from the automotive industry for lightweight automobile production coupled with heavy investments in healthcare.
The blow molding resins market in North America will have a considerable growth during the forecast period. Various factors propelling the growth of the blow molding resins market in the region include burgeoning demand from the food and beverage packaging industry, booming construction industry, and growing demand for cosmetics and personal care products.
The blow molding resins market in Latin America will have significant growth during the forecast period for the growing cosmetic, packaging, and automotive industry in this region.
The blow molding resins market share in the MEA will have substantial growth during the forecast period for the surplus demand from the infrastructural and construction activities in the GCC countries.
December 16, 2019 ---- MOL Plc. (MOL Group Hungary), a multinational oil gas company, announced the development of a new grade of random copolymer polypropylene (PP) tailored explicitly for extrusion blow molding (EBM). The new molding naming Tipplen R 665 XClear offers excellent optical properties in terms of transparency and gloss. Meaning the new PP can compete with PVC or PET when it comes to transparency in EBM applications.
- Tipplen R 665 XClear works on all types of EBM machines, including single-station shuttle, double-station shuttle, and long-stroke EBM machines. And it is suitable for use in all kinds of bottles –– from detergents to cosmetics to food applications. Tipplen R 665 XClear resin eliminates the “milky” appearance generally associated with PP in blow molding and enables PP to replace more expensive, less functional, or difficult to process materials.
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