Press release
Blow Molding Machine Market Economic Trends, Industry Development, Challenges, Forecast and Strategies To 2026
According to the report, the global blow molding machine industry was estimated at $4.85 billion in 2018 and is expected to hit $6.67 billion by 2026, registering a CAGR of 3.8% from 2019 to 2026. The report provides an extensive analysis of the market dynamics including drivers & restraints, major winning strategies, market size & projections, competitive landscape, and major segments.
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Currently, by raw material, in 2018, the polyethylene (PE) segment garnered significant market share. The key vendors as well as local players have introduced injection stretch blow molding machines to the market. For instance, German-based Merck KGa Aoffers injection stretch blow molding machine with features such as extremely advanced technology heating system, servo motor-controlled transfer, and variable pitch system.
Region wise, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA. The region across Asia-Pacific accounted for nearly three-fifths of the global blow molding machine market revenue in 2018, and is projected to remain lucrative by the end of 2026. On the other hand, the LAMEA region is expected to manifest the fastest CAGR of 4.6% throughout the estimated period.
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The manufacturers of blow molding machine are focusing on business expansion and new product development as key strategies to increase their blow molding machine market shares. For instance, in July 2019, Meccanoplastica launched new MiPet Combi stretch blow molding solution.
Key Findings of the Study:
o The report provides an extensive analysis of the current and emerging blow molding machine market trends and dynamics.
o Depending on application, the packaging segment dominated the market, in terms of revenue, in 2018 and the others segment is projected to grow at a CAGR 4.9% during the forecast period.
o By raw material, the polyethylene (PE) segment led the market in 2018.
o LAMEA is projected to register the highest growth rate in the coming years.
Key market players analyzed in the research include Elegance Industries Jomar Corporation, GOLFANG Mfg. & Development Co., Ltd., Jagmohan Pla-Mach Pvt. Ltd., Jiangsu Victor Machinery Co., Ltd., Meccanoplastica S.R.L, Chia Ming Machinery Co., Ltd., Parker Plastic Machinery Co., Ltd., Kautex Maschinenbau GmbH, and Polymechplast Machines Ltd.
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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.
We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
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