PE BLOW MOLDED PRODUCTS MARKET TO REACH A VALUATION OF ~US$ 8 BN BY 2027: TRANSPARENCY MARKET RESEARCHPE Blow Molded Products Market: Introduction
In terms of value, the PE blow molded products market is anticipated to expand at a CAGR of ~5% from 2019 to 2027
PE blow molded products are generally containers, drums, or other rigid packaging materials manufactured through the blow molding process of polyethylene polymers such as HDPE, LDPE, and LLDPE
The HDPE material segment accounted for a major share of the PE blow molded products market in 2018, owing to excellent material properties and ease of operations of the HDPE material
In terms of application, the industrial bulk containers segment dominated the PE blow molded products market in 2018, led by chemical inertness of the PE material and its compatibility with other materials
Expansion of the global specialty chemical industry is a key factor driving the demand for industrial packaging products. Safe delivery of packaged materials is of prime importance. Furthermore, high rigidity of PE products results in thinner wall size of PE blow molded products. Thus, rise in demand for PE blow molded products in intermediate bulk container applications is projected to boost the PE blow molded products market during the forecast period.
The PE blow molded products market in Asia Pacific is estimated to expand at a CAGR of 5% during the forecast period, owing to the rise in demand for PE blow molded products in industrial and consumer packaging applications
Volatility in prices of raw materials is anticipated to hamper the PE blow molded product market during the forecast period
Rise in Demand for HDPE Blow Molded Products
In terms of material, the HDPE segment led the PE blow molded products market in 2018, due to the excellent properties of the HDPE material to withstand higher temperature and crack resistance, and exceptional chemical intentness
Higher recyclability is another factor that is driving the segment. HDPE products have higher recyclability than other plastic products, due to their compact molecular structure. Rise in popularity of recycled products due to environmental concerns is anticipated to drive the HDPE segment of the PE blow molded products market during the forecast period.
Asia Pacific to be Highly Lucrative PE Blow Molded Products Market
In terms of volume, Asia Pacific constituted a prominent share of the PE blow molded products market in 2018. Key share of the region can be ascribed to the increase in demand for intermediate bulk containers and FMCG packaging in the region.
Significant increase in demand for industrial packaging products, such as containers and drums, owing to the establishment of specialty and other chemical manufacturing facilities in countries such as China, India, Indonesia, Vietnam, and Malaysia is positively impacting the demand for PE blow molded products such as industrial bulk containers in Asia Pacific
Demand for food and beverages, and FMCG product packaging has increased, owing to improvements in lifestyle that has led to a higher consumption of processed food and beverages. This has boosted the demand for PE blow molded products in small bottles and other applications during the forecast period.
The PE blow molded products market is highly fragmented among large numbers of local and global players. The top four players accounted for around 25% share of the PE blow molded products market in 2018. Unorganized players, primarily in China and neighboring countries, are projected to hold 60% to 65% share of the global market by the end of the forecast period.
Prominent players operating in the PE blow molded products market are Univation Technologies, LLC, Inpack, Alpha Packaging, Microdyne Plastics Inc., Custom-Pak, Inc., Mauser Packaging Solutions, Greif Inc., Comar LLC., SCHÜTZ GmbH & Co. KGaA, APEX Plastics, Inpress Plastics ltd, Agri-Industrial Plastics Co., and Time Technoplast Ltd.
Global PE Blow Molded Products Market: Segmentation
PE Blow Molded Products Market, by Material
PE Blow Molded Products Market, by Application
Chemical & Industrial Containers
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