The global blow molded plastics market revenue is expected to expand at a lucrative CAGR over the forecast period. Rising demand for blow molded plastics in end-use industries such as packaging, automotive, and construction and infrastructure is expected to be a major factor driving revenue growth of the market. However, fluctuating prices of raw material coupled with rising concerns regarding disposal of these products are expected to restrain market growth.
The global blow molded plastics market report has been segmented on the basis of product, application, and region.
On the basis of type, the global blow molded plastics market has been segmented into polypropylene, acrylonitrile butadiene styrene, polyethylene, polyethylene terephthalate, polyvinyl chloride, and others (polystyrene, polycarbonate, polysulfone, and butadiene-styrene). The polyethylene terephthalate segment is expected to grow at a steady rate over the forecast period owing to its recycling property.
On the basis of application, the global target market has been segmented into construction & infrastructure, automotive, packaging, electronics, and consumer goods, medical, and others. The automotive segment is expected to witness higher growth rate over the forecast period. Increasing use of plastics in the manufacturing of automotive components owing to its lightweight property is expected to support revenue growth of this segment.
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On the basis of region, the global blow molded plastics market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America market is expected to grow at a steady rate over the forecast period. Rising investments in residential and commercial construction in the US and Canada is expected to drive revenue growth of North America blow molded plastics market. Moreover, the target market in North America is driven rising demand for blow molded plastics in various end-use industries such as automotive, packaging, and building & construction.
Key players operating in the global blow molded plastics market include DowDuPont Inc., Exxon Mobil Corporation, LyondellBasell Industries Holdings B.V., Silgan Holdings Inc., Berry Plastics Corp., Alpha Packaging, Inc., Inpress Plastics Ltd., Comar, LLC, Rutland Plastics Ltd., and Saudi Basic Industries Corp.