Introduction
Blow molding is a manufacturing process used to produce hollow plastic parts by inflating a heated plastic tube until it forms a desired shape. The blow molding machine market is growing rapidly due to the increasing demand for plastic packaging in various industries, including food and beverage, medical, and automotive. The market is further driven by the development of advanced technologies and the increasing demand for eco-friendly materials.
According to a new report published by Allied Market Research, titled, “Blow Molding Machine Market,” The blow molding machine market size was $4.7 billion in 2020, and is estimated to reach $6.9 billion by 2030, growing at a CAGR of 3.8% from 2021 to 2030.
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Injection blow molding, extrusion blow molding, and injection stretch blow molding are commonly observed types of blow molding machines. The injection stretch blow molding segment accounted for the highest market share in 2020, owing to increase in demand for packaging media like bottles and plastic containers. According to application, market is segmented into packaging, automotive, construction, and others.
Opportunity Analysis of the Blow Molding Machine Market
The blow molding machine market is expected to show substantial growth over the next five years due to the rising demand for plastics in various industries. The increasing demand for plastic packaging and the development of advanced technologies are some of the major factors driving the market. Additionally, the increasing focus on eco-friendly materials is expected to drive the market further.
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1) Growing Demand for Plastic Packaging: The demand for plastic packaging is increasing due to its durability, lightweight, and cost-effectiveness. This is driving the demand for blow molding machines, as they are used to create plastic packaging such as bottles, jars, and containers.
2) Development of Advanced Technologies: The development of advanced technologies such as injection molding, extrusion molding, and rotational molding is expected to drive the market further. These technologies enable the production of more complex parts with shorter lead times.
3) Increasing Demand for Eco-Friendly Materials: The increasing demand for eco-friendly materials is expected to drive the market further. The use of recycled plastics and bioplastics is expected to reduce the environmental impact of plastic production.
4) Rising Demand in the Automotive Industry: The increasing demand for plastics in the automotive industry is expected to drive the market further. Plastic is used to manufacture parts such as bumpers, dashboards, inner liners, and door panels.
Conclusion
The blow molding machine market is expected to show substantial growth over the next five years due to the rising demand for plastics in various industries. The increasing demand for plastic packaging and the development of advanced technologies are some of the major factors driving the market. Additionally, the increasing focus on eco-friendly materials is expected to drive the market further.
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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of “Market Research Reports” and “Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
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