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.
𝙂𝙚𝙩 𝙞𝙣𝙨𝙞𝙙𝙚 𝙎𝙘𝙤𝙤𝙥 𝙤𝙛 𝙩𝙝𝙚 𝙧𝙚𝙥𝙤𝙧𝙩, 𝙧𝙚𝙦𝙪𝙚𝙨𝙩 𝙛𝙤𝙧 𝙨𝙖𝙢𝙥𝙡𝙚: – https://www.alliedmarketresearch.com/request-sample/6392
𝗠𝗮𝗿𝗸𝗲𝘁 𝗦𝗶𝘇𝗲 𝗮𝗻𝗱 𝗙𝗼𝗿𝗲𝗰𝗮𝘀𝘁
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.
As per the raw material, market is fragmented into polyethylene (PE), polypropylene (PP), polyvinyl chloride (PVC), polyethylene terephthalate (pet), and others. The market is mainly driven by increase in packaging applications by pharmaceutical and food & beverages industry. However, use of substitute technology for plastic molding constraints the growth of the blow molding machine market.
𝗥𝗲𝗴𝗶𝗼𝗻𝗮𝗹 𝗢𝘂𝘁𝗹𝗼𝗼𝗸
In 2020, Asia-Pacific dominated the global blow molding machines market, in terms of revenue, followed by North America and Europe. Moreover, the market in Asia-Pacific increases with high CAGR of 4.3%, owing to growth in use of blow molding machines for automotive industry components.
The advancements in blow molding machine technologies have significantly decreased the production cost and reduced the wastage during the production. The blow molding machines are extensively used for many applications across the industries, such as automotive, packaging, construction, and pharmaceutical.
This is owing to availability of blow molding machines various sizes and capacities. In addition, advancement in computer-based technologies enables the machines to be more productive while maintaining the production and labor costs low. These factors positively influence the blow molding machine market growth.
𝙈𝙖𝙠𝙚 𝙖 𝙋𝙪𝙧𝙘𝙝𝙖𝙨𝙚 𝙄𝙣𝙦𝙪𝙞𝙧𝙮: https://www.alliedmarketresearch.com/purchase-enquiry/6392
Furthermore, on the basis of material type, the others segment is anticipated to grow rapidly, during the forecast period, owing to launch of more powerful blow molding machines and increase in demand for solid plastic packaging containers.
For instance, in July 2019, Meccanoplastica launched new K2019 machinery: Jet 85 all-electric injection blow molding machine. The newly launched machine has three stations and can produce containers in round as well as square shape.
However, during the pandemic lockdown, various manufacturers in the blow molding machine market halted their business in countries, such as China, the U.S., and India. This halt directly impacted sales of blow molding machines manufacturing companies. In addition, lack of manpower and raw materials constricted the supply of blow molding machine components, which negatively influenced the growth of the market. However, reopening of production facilities and introducing vaccines for coronavirus disease are anticipated to re-open the blow molding machine companies.
𝙏𝙤 𝙋𝙪𝙧𝙘𝙝𝙖𝙨𝙚 𝙩𝙝𝙞𝙨 𝙋𝙧𝙚𝙢𝙞𝙪𝙢 𝙍𝙚𝙥𝙤𝙧𝙩:https://www.alliedmarketresearch.com/checkout-final/158e4b3e1a428fd1778570de88652d68
𝗧𝗵𝗲 𝗞𝗲𝘆 𝗣𝗹𝗮𝘆𝗲𝗿𝘀
The key companies profiled in the blow molding machine market forecast include Blow Enterprises, Chia Ming Machinery Co., (Chia Ming) Ltd, GOLFANG Mfg. & Development Co., Ltd., Jagmohan Pla-Mach Pvt. Ltd., Jiangsu Victor Machinery Co., Ltd., Jomar Corporation, Nissei Asb Machine Co., Ltd, Polymechplast Machines Ltd., Sumitomo Heavy Industries, Ltd., and The Japan Steel Works, Ltd.