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"Global PE Blow Molded Products Market was Valued at US$ 5.3 Bn in 2019 and it is Expected to Reach More than US$ 8.47 Bn by 2028, Likely to Grow with the CAGR of 4.80%% During the Forecast Period."
PE blow molded products are manufactured by using several polyethylene polymers such as HDPE, LDPE, and LLDPE. These products are employed in a wide range of applications such as industrial drums and containers due to their excellent properties chemical intentness and better compatibility with materials and cost-effectiveness.
Growing Demand From Key Application Markets Including Packaging, Chemicals, And Automotive, Particularly In Emerging Economies, Is Expected To Drive The Market Over The Forecast Period
PE blow molded plastics is extensively used in the packaging applications as it does not react with the food or chemicals. The common form of applications of blow-molded plastics is soft drinks bottles and drinking water bottles. The increasing demand for packaged food owing to its lightweight and excellent stiffness will boost the demand for PE blow molded products market
Furthermore, the manufacturers are investing in software products to gain insights on molding characteristics. They are joining forces with engineers to optimize designs and develop quality containers to gain a competitive edge over other players. This will help to increase the quality of PE blow-molded products.
Additionally, the Circular Economy and sustainability are some of the key trends that are revolutionizing the market for PE blow-molded products. The industry is focusing on reusable green product manufacturing since there is a growing demand for reusable products among environment-conscious consumers. The healthy growth of the overall packaging industry in recent years due to material availability of polyethylene and polypropylene is another key driver for market growth.
The increasing concerns for environmental pollution regarding the disposal of these products and volatility in the prices of raw materials are anticipated to restrict market growth over the forecast period. In order to overcome such challenges, manufacturers have shifted their focus toward developing PE blow molded plastics using bio-based plastics.
High-Density Polyethylene (HDPE) Segment Is Expected To Dominate The PE Blow Molded Products Market During The Forecast Period
Based on material, The HDPE segment constituted a major share of the market in 2019. The global HDPE segment accounted for US$ 3.2 Bn in 2019 and is expected to expand at a significant rate over the forecast period due to its excellent performance properties such as crack resistance and ability to withstand higher temperatures. It is usually used in container manufacturing. HDPE products possess excellent recyclability compared to other polymers such as PVC and PET products.
In addition, innovations in extrusion blow molding machines have attributed to an increase in the production of HDPE bottles in the market for PE blow-molded products. These factors are likely to drive the PE blow molded products market during the forecast period.
The Intermediate Bulk Containers Segment is Expected to Witness the Highest Growth in the PE Blow Molded Products Market Across the Globe
In terms of application, the intermediate bulk containers segment is projected to register a CAGR of 5.8% and it is accounted for a key share of the PE blow molded products market in 2019, owing to chemical inertness and ease of production of intermediate bulk containers using polyethylene. The intermediate bulk containers are ideal for use in many industries. They are used for the material handling of small industrial parts, storing large finished goods, handling agricultural products, fish, food-processing, chemical, resin, textile, and many other industries.
However, the small bottles application segment held a considerable share of the PE blow molded products market considering the high consumption of small bottles in the packaging of FMCG products.
Asia Pacific To Dominate the Global PE Blow Molded Products Market During the Forecast Period
Asia Pacific accounted for the largest share of the global PE blow molded products market In terms of value and volume estimated at over 35% in 2019 This trend will remain constant over the next years owing to their application in the industrial and consumer goods packaging industry in the region.
In addition, Growth of industries in Asia Pacific, such as specialty chemical manufacturing, can be ascribed to the rise in demand for industrial containers and drums, primarily in emerging economies such as China, India, and Indonesia, Malaysia, Vietnam, and Thailand are anticipated to be emerging geographies for strategic manufacturing centers with competitive export positions during the forecast period
North America and Europe also held a considerable share of the PE blow molded products market in 2019. While Europe is projected for aggressive growth during the forecast period. Several European countries are streamlining their production activities by adopting recyclable and sustainable solutions. As such, the PE blow molded products market in Europe is expected to reach an output over the 1,500-kilo tons by the end of 2021. This will likely boost the market.
The PE blow molded products market is fragmented, with the presence of a large number of global as well as local players. Some of the key players in the global PE blow molded products market are Alpha Packaging,Microdyne Plastics Inc.,Custom-Pak, Inc.,Mauser Packaging Solutions,Greif Inc.,Comar LLC.,Univation Technologies LLC, Inpack, SCHÜTZ GmbH & Co. KGaA, APEX Plastics, Inpress Plastics ltd, Agri-Industrial Plastics Co. And Technoplast Ltd.
PE Blow Molded Products Market Key Segments:
PE Blow Molded Products Market, By Type
- HDPE Product
- LLDPE Product
- LDPE Product
PE Blow Molded Products Market, By Application
- Chemical & Industrial Containers
- ≥200 L
- <200 L
- Small Bottles
- Intermediate Bulk Containers
- ≥1,000 L
- <1,000 L
- Others (including Toolboxes and Garbage Containers)
PE Blow Molded Products Market, By Region
- North America
- Asia Pacific
- Middle east and Africa
- Latin America