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Global Blow Molded Plastic Bottles Market: Beverage Industry will Continue to Lead as Most Lucrative End Use Segment
MarketResearchReports.biz has announced the addition of a new market study to its repository, titled “Global Blow Molded Plastic Bottles Market 2017-2021.”According to the report, the global blow molded plastic bottles market will expand at a 3% CAGR from 2017 to 2021. It is anticipated that the high demand from healthcare sector will ensure the growth of this market in the coming years. The high demand for plastics in the healthcare industry is on account of their inertness, durability, versatility, sterile nature, transparency, cleanliness, and their lightweight. Polyethylene plastic injection molding is used in the medical sector for sustaining the lifespan of disposable syringes and others. Thermoformed plastics are used in airtight seals to protect the contents from oxidants, particulate, and moisture.
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On the basis of geography, the market is segmented into North America, Europe, Asia Pacific, and the Rest of the World. Of these, Asia Pacific is leading at present and is expected to continue to lead in the coming years. The increasing disposable income of the people in this region along with a high demand for household products will drive the market in the region. The increasing demand for toiletries and cosmetics, and industrial and chemical products will also boost the demand for molded plastic bottles market. On the basis of type of material, the market is segmented into blow molded PE plastic bottles and blow molded PET plastic bottles. Of these, the blow molded PET plastic bottles segment not only held maximum shares in 2016 but also expected to retain their hold in the market and continue to lead throughout the forecast period. The growing use of PET bottles as a reliable distribution mode of beverages, which reduces the risk of damage after production is one of the key factors driving their increased demand.
On the basis of end user, the market is segmented into household, personal care, and beverage industry, of which, the beverage industry is leading in the market currently. The beverage industry is also expected to rule in terms of the most lucrative end user segment in the coming years. The high demand for bottled water is a major factor contributing to the growth of beverage segment.
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Some of the leading players in the market are: Alpha Packaging, Plastipak Holdings, APEX Plastics, Sidel, and Silgan Holdings. These players are striving for product extensions, innovations in technology, and mergers and acquisitions. Some of the other players in the market include: Amcor, Coveris, Streamline Plastic Bemis, HTI Plastics, Linpac, Graham Packaging, R&D Molders, Resilux, Berry Plastics, Hassan Plas Packaging, Constantia Flexibles, First American Plastic, RPC, and Sonoco. The report gives key insights regarding each of the key players such as, strategies adopted to survive the competitive environment and recent developments by these companies.
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