Blow Molding Resins to Register High CAGR in North America and APAC

Some of the key players operating in the blow molding resins market are Exxon Mobil (US), LyondellBasell (Netherlands), DowDuPont (US), SABIC (Saudi Arabia), INEOS (Switzerland), Solvay (Belgium), Formosa Plastics (Taiwan), Chevron (US), Eastman (US), China Petroleum (China), and Reliance Industries (India).
The blow molding resins market was valued at USD 36.67 Billion in 2017 and is projected to reach USD 51.95 Billion by 2022, at a CAGR of 7.2% from 2017 to 2022. The increased demand for blow molding resins in the packaging applications of the pharmaceutical, food & beverages, chemicals, and personal care industries is expected to drive the growth of the blow molding resins market during the forecast period.

The report Blow Molding Resins Market by Type (Polyethylene, Polypropylene, Polyvinyl Chloride, Polyvinyl Terephthalate), Application (Packaging, Automotive & Transportation, Construction & Infrastructure), and Region – Global Forecast to 2022″, The blow molding resins market is estimated at USD 36.67 Billion in 2017 and projected to reach USD 51.95 Billion by 2022, at a CAGR of 7.2% from 2017 to 2022.

Browse 156 Tables and 43 Figures spread through 164 Pages and in-depth TOC on “Blow Molding Resins Market”

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Exxon Mobil (US), LyondellBasell (Netherlands), DowDuPont (US), SABIC (Saudi Arabia), INEOS (Switzerland), Solvay (Belgium), Formosa Plastics (Taiwan), Chevron (US), Eastman (US), China Petroleum (China), and Reliance Industries (India) are the leading blow molding resins manufacturers globally.

DowDuPont (US) is one of the leading players in the blow molding resins market. It is a US-based chemical company formed by the merger of Dow Chemical and DuPont in August 2017. The company has been focusing on new product launches and expansions to maintain its leading position in the market. For instance, in October 2016, E. I. du Pont (US) launched polyamide (PA66 and PA6) and glass-filled blow molding resins used for applications in the automotive industry. Also, in November 2014, Dow (US) expanded the production of polyethylene by revamping its production technology in Argentina. It revamped its four production units for Low Density Polyethylene (LDPE).

LyondellBasell (Netherlands) and Exxon Mobil (US) are other major players in the blow molding resins market. The company adopted the acquisitions strategy to establish its foothold in the Asia Pacific. For instance, in April 2016, the company acquired polypropylene compounder, Zylog Plastalloys Pvt. Ltd in India.

In October 2017, Exxon Mobil (US) started commissioning of the polyethylene production facility in Texas, US. This expansion is expected to increase capacity by 65% or 650,000 tons, which is expected to lead to a new production capacity of 2.5 million tons. The company is focusing on the production of high-performance polyethylene through this expansion. The company has commissioned blow molding resins production facilities closest to its upstream projects to have easy access to raw materials. This has enabled it to produce the resins at low cost.

The blow molding resins market has been segmented on the basis of type, application, and region. Among types, the polyethylene blow molding resins segment is projected to grow at the highest CAGR between 2017 and 2022. Polyethylene blow molding resins are being preferred in various applications, owing to their low cost, moisture resistance, high chemical resistance, and excellent processability. These are used to produce blow molded products, such as household containers, personal care containers, fuel tanks, water tanks, and bottles.

The packaging applications segment of the blow molding resins market is projected to grow at the highest CAGR between 2017 and 2022. Increasing consumption of blow molding resins in packaging applications for pharmaceutical, food & beverages, chemical, and personal care products is expected to drive the growth of the segment. Automotive & transportation is the second-fastest market for blow molding applications. Blow molding resins are used to produce auto-parts, such as panes and railings, bumper support, fenders, mudguards, door locking systems, consoles, garnish pillars, cockpit systems, and fuel tanks. Polyethylene, polypropylene, polyvinyl-chloride, polystyrene, polyethylene terephthalate, and acrylonitrile butadiene styrene are the commonly used blow molding resins in the automotive application. These resins are preferred in automotive applications owing to their minimal corrosion, which leads to longer vehicle life, substantial design freedom, innovation and creativity in vehicle development, and flexibility in integrating components. 

 

The Asia Pacific blow molding resins market is projected to grow at the highest CAGR between 2017 and 2022. The increasing per capita expenditure on healthcare, personal care, and food products, large consumer base, growing urban population, low labor costs, and easy availability of raw materials are attracting international pharmaceutical, chemical, and food & beverage manufacturers to shift their production facilities to the region, thus creating high demand for the blow-molded products produced by blow molding resins in these industries. The Asia Pacific is the global manufacturing hub for the chemical industry, accounting for more than 50% of global chemical production output; this increases the demand for products, such as cans and containers, produced with the use of blow molding resins in the chemical industry.

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