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The blow molding resin market share is expected to increase by USD 17.88 billion from 2021 to 2026, and the market's growth momentum will accelerate at a CAGR of 6.73%.
This blow molding resin market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers blow molding resin market segmentation by end-user (packaging, automotive, consumer goods, building and construction, and others) and geography (APAC, North America, Europe, Middle East and Africa, and South America). The blow molding resin market report also offers information on several market vendors, including AGC Chemicals Americas Inc., BASF SE, Braskem SA, Chevron Phillips Chemical Co. LLC, Dow Inc., Eastman Chemical Co., Exxon Mobil Corp., Formosa Plastics Corp., Haldia Petrochemicals Ltd., INEOS Group Holdings SA, LANXESS AG, LyondellBasell Industries NV, LG Chem Ltd., Reliance Industries Ltd., SABIC, Shin Etsu Chemical Co. Ltd., Solvay SA, The Chemours Co., Versalis SpA, and Westlake Chemical Corp. among others.
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The growing demand for packaged beverages is notably driving the blow molding resin market growth, although factors such as growing global demand for pouch packaging solutions may impede the market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the blow molding resin industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.
Key Blow Molding Resin Market Driver
One of the key factors driving growth in the blow molding resin market is the growing demand for packaged beverages. The growing urbanization will positively influence the demand for packaged beverages during the forecast period. Changing consumer lifestyles are increasing the demand for on-the-go beverage products. The increasing demand for packaged beverages in emerging economies such as Brazil, China, India, South Africa, and Vietnam, owing to the rise in disposable incomes of consumers, is supporting the growth of the global blow molding resin market. The increase in the demand for packaged beverages will drive the growth of the global blow molding resin market during the forecast period. The rising consumption of bottled water across the world is significantly contributing to the sales of packaged beverages. The increase in the consumption of bottled water will drive the growth of the global blow molding resin market.
Key Blow Molding Resin Market Trend
The rising popularity of automation in molding techniques is another factor supporting the blow molding resin market share growth. Automation is required for performing repetitive tasks with high accuracy and precision. Technological advances and the use of innovative processes are driving the need for automation in the manufacturing units of vendors in the market. Automation provides many benefits in the field of molding techniques for plastics. Automation reduces human interference in the blow molding process, increasing the efficiency and production output. The growing popularity of automation in molding techniques is expected to boost the growth of the global blow molding resin market during the forecast period.
Key Blow Molding Resin Market Challenge
The growing global demand for pouch packaging solutions will be a major challenge for the blow molding resin market during the forecast period. Changing consumer lifestyles and the shift in consumer preference for flexible packaging solutions that offer ease of storage, handling, transportation, and use have increased the demand for pouch packaging solutions. Pouch packaging solutions are lightweight and have high printability and the ability to meet the need for single-serve uses. As a result, pouch packaging solutions are one of the fastest-growing trends in the packaging industry. Furthermore, the increasing demand for packaged beverage products will strengthen the need for pouch packaging solutions.
This blow molding resin market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2022-2026.
Technavio categorizes the global blow molding resin market as a part of the global commodity chemicals market within the global chemicals market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the blow molding resin market during the forecast period.
The report analyzes the market's competitive landscape and offers information on several market vendors, including:
This statistical study of the blow molding resin market encompasses successful business strategies deployed by the key vendors. The blow molding resin market is fragmented and the vendors are deploying growth strategies such as focusing on innovation, pricing, operational costs, and product quality to compete in the market.
cpchem.com - The company offers Blow molding which is a process used for producing hollow plastic parts. Various methods of manufacturing exist in the blow molding industry, ranging from reciprocating screw blow molding machines to accumulator head machines. These machines are tailored to meet the customers needs, whether it is a milk bottle producer or an automotive fuel tank producer.
To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
The blow molding resin market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.
Our report provides extensive information on the value chain analysis for the blow molding resin market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.
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49% of the market's growth will originate from APAC during the forecast period. China, South Korea, and Japan are the key markets for blow molding resin in APAC. Market growth in this region will be faster than the growth of the market in other regions.
The increasing industrial activities, growing e-commerce, the rising demand for consumer-packaged goods, and rapid urbanization will facilitate the blow molding resin market growth in APAC over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.
COVID Impact and Recovery Analysis
The outbreak of COVID-19 hindered the growth of the regional blow molding resin market in 2020. Countries such as China, India, Nepal, Pakistan, South Korea, Malaysia, Sri Lanka, and the Philippines were under either partial or full lockdowns due to the pandemic in 2020. However, the e-commerce market flourished in the region during the pandemic, which, in turn, recouped the demand for personal care and food and beverage. In addition, the regional food and beverage sector remained resilient to the effect of COVID-19 in 2020.
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The blow molding resin market share growth by the packaging segment will be significant during the forecast period. Significant factors that help vendors in determining the type of packaging to be used for beverage products are the need for aesthetic appeal/marketing, customer convenience, material compatibility, and display of product features. The demand for packaged food and beverages is expected to grow at a higher rate because of their longer shelf life, increased hygiene, and convenience compared with non-prepacked food products. The increasing demand for packaged beverages will drive the demand for blow molding resin.
This report provides an accurate prediction of the contribution of all the segments to the growth of the blow molding resin market size and actionable market insights on post COVID-19 impact on each segment.
Blow Molding Machinery - The market is projected to grow by USD 994.14 million with a CAGR of 4.21% during the forecast period 2021 to 2026.
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Blow Molding Resin Market Scope |
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Report Coverage |
Details |
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Page number |
120 |
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Base year |
2021 |
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Forecast period |
2022-2026 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 6.73% |
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Market growth 2022-2026 |
$ 17.88 billion |
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Market structure |
Fragmented |
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YoY growth (%) |
6.45 |
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Regional analysis |
APAC, North America, Europe, Middle East and Africa, and South America |
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Performing market contribution |
APAC at 49% |
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Key consumer countries |
US, Canada, China, South Korea, Japan, and Germany |
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Competitive landscape |
Leading companies, Competitive strategies, Consumer engagement scope |
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Key companies profiled |
AGC Chemicals Americas Inc., BASF SE, Braskem SA, Chevron Phillips Chemical Co. LLC, Dow Inc., Eastman Chemical Co., Exxon Mobil Corp., Formosa Plastics Corp., Haldia Petrochemicals Ltd., INEOS Group Holdings SA, LANXESS AG, LyondellBasell Industries NV, LG Chem Ltd., Reliance Industries Ltd., SABIC, Shin Etsu Chemical Co. Ltd., Solvay SA, The Chemours Co., Versalis SpA, and Westlake Chemical Corp. |
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Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the forecast period |
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Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
We can help! Our analysts can customize this report to meet your requirements. Get in touch
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Five Forces Analysis
5 Market Segmentation by End-user
6 Customer Landscape
7 Geographic Landscape
8 Drivers, Challenges, and Trends
9 Vendor Landscape
10 Vendor Analysis
11 Appendix
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