COVID-19 Impact on Blow Molding Machine Market Will Expand in the Coming Decade as Per Report
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.
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The report provides an extensive analysis of the market dynamics including drivers & restraints, major winning strategies, market size & projections, competitive landscape, and major segments.
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.
Based on raw material, the market is separated into polyethylene (PE), polypropylene (PP), polyvinyl chloride (PVC), polyethylene terephthalate (PET), and others.
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The polyethylene (PE)segment held the largest share in 2018, contributing for more than one-third of the global blow molding machine market. In addition, the same segment is expected to cite the fastest CAGR of 4.2% during the study period.
Key Findings of the Study:
• The key market players within the blow molding machine market are profiled in this report, and their strategies are analyzed thoroughly, which help understand the competitive outlook of the blow molding machine industry.
• The report provides an extensive analysis of the blow molding machine market trends and emerging opportunities of the market.
• In-depth blow molding machine market analysis is conducted by constructing estimations for the key segments between 2018 and 2026.
• The global blow molding machine market forecast analysis from 2018 to 2026 is included in the report.
The manufacturers of blow molding machines 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 a new MiPet Combi stretch blow molding solution.
The new product integrates filler, blower, and capping machine. In addition, it only uses 30% of the occupied space and eliminates the inconvenience of air transport.
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