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”
Download Free PDF Brochure: https://www.marketsandmarkets.com/pdfdownload.asp?id=8448983
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.
Speak to Research Analyst: https://www.marketsandmarkets.com/speaktoanalyst.asp?id=8448983
MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 5000 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.
Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the “Growth Engagement Model – GEM”. The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write “Attack, avoid and defend” strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.
MarketsandMarkets’s flagship competitive intelligence and market research platform, “RT” connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.
Mr. Shelly Singh
630 Dundee Road
Northbrook, IL 60062
USA : 1-888-600-6441
Company Name: MarketsandMarkets
Contact Person: Mr. Shelly Singh
Email: Send Email
Address:630 Dundee Road Suite 430
Country: United States