The report of Blow Molding Machine Market By Raw Material (Polyethylene, Polyethylene Terephthalate, Polypropylene, Polyvinyl Chloride, Polystyrene, Others (including Polycarbonate)), By Type (Extrusion, Injection, Stretch), By End-use Industry (Packaging, Transportation, Building & Construction, Electrical & Electronic, Others (including Medical & Healthcare and Chemicals)), and Region (North America, Asia Pacific, Europe, South America, and Middle East & Africa) is expected to reach US$ 6.78 Bn by 2027, at a CAGR of 3.9% during the forecast period.
Low labor-cost, bulk production, and high demand for molded plastic products are the key factors that drive the growth of the blow molding machine market. Also, it is broadly used in industries such as automotive, medical, packaging, food & beverage, and others. The rising demand for blow molding machines in the food & beverages industry to manufacture different packaging and processing components like food & beverage containers, processing equipment components, conveyor system components, and others.
The obligation of strict government regulations, as well as the increasing interest in ethical and eco-friendly products, is driving end-user industries to find viable alternatives to plastics. The development of sophisticated formulations to increase the strength, durability, functionality and eco-friendly material composition in bioplastics is generating the demand for the material. These factors together with technological signs of progress in blow hold machine designs are progressively making bioplastics compatible for use with the current infrastructure. The latest development supplementing the surge in the demand for lightweight plastic containers was Amazon’s recent declaration of substituting the traditional cardboard boxes used in packaging with lightweight flexible plastic mailers.
Nevertheless, high initial tooling & machinery costs with adverse impact on the environment are expected to reduce blow molding machine market growth with governments around the world working towards regulating the use of energy, fuel, and greenhouse gas production. Producers in the blow molding machines market are focusing on the investments into the development of fully-electric equipment with high efficiency and reliability to overcome the unfavorable challenge.
The Asia Pacific blow molding machine market is expected to hold the largest market share by 2027, with China leading the market, both production and consumption. India is also expected to witness sound growth in demand for blow molding machines on account of the fast growth being realized in the consumer packaging and automotive industry.
North America and Europe both regions are expected to hold a significant share in the blow molding machines market. This is mainly due to the growth in the automotive and electronics & electrical industry in the regions is expected to drive the demand for blow molding machines in the future. Substantial investments and improving economies of Brazil and Argentina are likely to drive the Latin America blow molding machines market. The Middle East and Africa are expected to witness enough growth in demand for blow molding machines over the forecast period (2020-2027) because of the initiatives being taken by many Middle-East countries towards achieving a varied economy.
The key players of the global Blow Molding Machine market are The Japan Steel Works, Ltd., Jomar Corp., PARKER PLASTIC MACHINERY CO., LTD, Jiangsu Victor Machinery CO., Ltd, GOLFANG Mfg. & Development Co., Ltd., SUMA Plastic Machinery Co., ltd, SuZhou Bestar Blow Molding Technology Co., Ltd., Universal Machinery & Services, BLOW ENTERPRISES, NISSEI ASB MACHINE CO., LTD., Jagmohan Pla-Mach Pvt. Ltd., Bekum Maschinenfabriken GmbH, Chia Ming Machinery Co., Ltd., Elegance Industries, Kautex Maschinenbau, Meccanoplastica, Polymechplast Machines Ltd, and others.
Maximize Market Research, a global market research firm with a dedicated team of specialists and data has carried out extensive research about the Global Blow Molding Machine Market. The report encompasses the market by different segments and regions, providing an in-depth analysis of the overall industry ecosystem, useful for making an informed strategic decision by the key stakeholders in the industry. Importantly, the report delivers forecasts and share of the market, further giving an insight into the market dynamics and future opportunities that might exist in the Global Blow Molding Machine Market. The driving forces, as well as considerable restraints, have been explained in depth. In addition to this, competitive landscape describing the strategic growth of the competitors has been taken into consideration for enhancing market know-how of our clients and at the same time explain Global Blow Molding Machine Market positioning of competitors.
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