Blow Molding Resin Market Scope

The blow molding resin market refers to the market for resins that are used in the blow molding process to produce a variety of plastic products. Blow molding is a manufacturing process that involves the use of a blow molding machine to heat and shape thermoplastic or thermosetting polymers into a hollow product or part. The process involves melting the resin, injecting it into a blow mold, and then cooling the mold to solidify the resin into the desired shape.

The blow molding resin market is driven by the increasing demand for plastic products in various end-use industries, such as packaging, automotive, construction, and consumer goods.The global market size for blow molding resins is estimated at USD 36.67 Billion in 2017, and is projected to reach USD 51.95 Billion by 2022, at a CAGR of 7.2% between 2017 and 2022. The growth in these industries is expected to drive the demand for blow molding resins in the coming years. However, the blow molding resin market faces some challenges, such as the increasing regulatory pressure to reduce the use of plastic and the increasing competition from alternative materials, such as glass, metal, and paper. To mitigate these challenges, manufacturers are focusing on developing eco-friendly and sustainable resins that can meet the changing consumer preferences and regulatory requirements.

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Blow Molding Resin Market Drivers

There are several drivers that are influencing the growth of the blow molding resin market:

  • Increase in demand for lightweight and durable plastic products
  • Increase in demand for lightweight and durable plastic products
  • Growth in end-use industries

Blow Molding Resin Market Segmentation

The blow molding resin market can be segmented based on the type of resin, application, end-use industry, and region.

By type of Resin:

  • Polyethylene
  • Polypropylene
  • Polyvinyl Chloride
  • Polyethylene Terephthalate
  • Others

Based on type, the blow molding resins market has been segmented into polyethylene, polypropylene, polyvinyl chloride, polyethylene terephthalate, and others. Among types, the polyethylene segment is expected to grow at the highest CAGR during the forecast period. The increased use of blow molding resins in various applications can be attributed to their high stiffness and Environmental Stress Cracking Resistance (ESCR), high load melt strength, and excellent rigidity.

By Application:

  • Packaging
  • Automotive & Transportation
  • Construction & Infrastructure
  • Others

The packaging application segment of the blow molding resins market is projected to grow at the highest CAGR during forecast period

Based on the application, the blow molding resins market has been segmented into packaging, automotive & transportation, construction & infrastructure, and others. The packaging segment is projected to be fastest-growing application segment during the forecast period. The growth of the segment is attributed to the increasing use of blow molded products to package pharmaceutical, food & beverages, cosmetics, and industrial products, such as chemicals, acids, and lubricants.

By Region:

  • Asia Pacific
  • North America
  • Europe
  • South America
  • Middle East and Africa

The Asia Pacific blow molding resins market is projected to grow at the highest CAGR during the forecast period

Based on region, the blow molding resins market has been segmented into Asia Pacific, North America, Europe, South America, and Middle East and Africa. The Asia Pacific blow molding resins market is projected to grow at the highest CAGR during the forecast period. The growth of the Asia Pacific blow molding resins market can be attributed to the presence of the leading blow molding resins producers in the region.

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Blow Molding Resin Market Key Players

  • Exxon Mobil (US)
  • LyondellBasell (Netherlands)
  • DowDuPont (US)
  • SABIC (Saudi Arabia)
  • INEOS (Switzerland)
  • Solvay (Belgium)
  • Formosa Plastics (Taiwan)
  • Chevron (US)
  • Eastman (US)
  • China Petroleum (China)
  • Reliance Industries (India) 

Blow Molding Resin Market Upcoming Trends

Some of the key trends that are expected to shape the blow molding resin market in the near future include:

  1. Increased adoption of bioplastics: There is a growing trend towards the use of bioplastics in blow molding, as they are environmentally friendly and renewable. Bioplastics are derived from natural sources such as corn, potatoes, and sugarcane, and have a lower carbon footprint compared to traditional plastics.

  2. Rise in demand for lightweight and fuel-efficient vehicles: Blow molding is extensively used in the automotive industry to manufacture various automotive parts, such as fuel tanks, bumpers, and dashboard components. With the increasing focus on reducing vehicle weight and improving fuel efficiency, the demand for blow molded automotive parts is likely to increase.

  3. Growth of the packaging industry: Blow molding is widely used in the packaging industry to manufacture a variety of products, including bottles, containers, and drums. The packaging industry is expected to witness significant growth in the coming years, which will drive the demand for blow molding resins.

  4. Development of new technologies: The blow molding industry is continuously evolving, with the development of new technologies such as multi-layer blow molding, which allows for the production of more complex and sophisticated products. This trend is likely to drive the demand for advanced blow molding resins.

  5. Increasing focus on sustainability: Sustainability is becoming an increasingly important consideration in the blow molding industry. Companies are investing in the development of eco-friendly blow molding resins and processes to reduce their carbon footprint and meet the growing demand for sustainable products.

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