The new report by Expert Market Research titled, ‘Global Blow Moulds Market Price, Report and Forecast 2023-2028’, gives an in-depth analysis of the global blow moulds market, assessing the market based on its segments like types, applications, and major regions.
The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter’s Five Forces models.
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The key highlights of the report include:
Market Overview (2018-2028)
Forecast CAGR (2023-2028): 20%
The market growth can be attributed to the growing demand for blow moulds in various end use sectors such as personal care, automotive, and medical, among others. With the growing utilisation of blow moulds in the manufacturing of various automobile components, the market is witnessing robust growth. HDPE is extensively utilised to produce large holding drums and tanks and automotive fuel, among others. This, in turn, is augmenting the market for blow moulds. Furthermore, rapid urbanisation and industrialisation, especially in developing countries in the Asia Pacific region, are leading to a surge in the demand for blow moulds.
Industry Definition and Major Segments
Blow moulding refers to a moulding process that is used to manufacture hollow objects by utilising plastics. It is extensively used to enhance the productivity and speed of manufacturing activities. Blow moulding utilises low-pressure levels and reduces the operating costs of machinery. It is typically used in the manufacturing of diverse products ranging from automotive components to bottles.
The market, based on type, is divided into:
Based on application, the market is classified into:
Food and Beverage
Personal Care Products
Household and Cleaning Products
Industrial and Agricultural Chemicals
The regional markets of blow moulds are:
Middle East and Africa
The market is being driven by the growing consumption of packaged food products by the growing working-class population. The increasing disposable income and the rising demand for consumer goods, including personal care and cosmetics products, are surging the utilisation of packaging products, hence bolstering the market.
The growing deployment of blow moulds in automotive components such as seatbacks, air ducts, and bumpers, among others, is also fuelling the market. Moreover, the market growth can be associated with technological advancements and innovations. With the increasing development of machinery offering high flexibility, accuracy, and cost-effectiveness, the market for blow moulds is expected to witness considerable growth in the forecast period.
Key Market Players
The major players in the market are Kiefer Mold Technologies, Heise Industries Inc, GDXL, Creative Blow Mold Tooling, Cado Company, Valencia Plastics Inc., and PET Technologies, among others. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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