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The blow molding machinery market size is forecast to increase by USD 1.07 billion, at a CAGR of 4.5% between 2023 and 2028. The market is experiencing significant growth, driven by the increasing demand for beverage machinery, particularly in the injection-stretch blow molding segment. This technology is widely used in producing PET bottles for various beverages, including fruit juices and carbonated drinks. Moreover, the development of advanced machinery, such as tri-layer technology and full electric systems, is propelling the market forward. The production of hand soaps, sanitizers, cleaning products, and transportation applications in plastic containers is another trend fueling market growth. However, the market faces challenges from the availability of refurbished machines and the high cost of raw materials like polyethylene, polyethylene terephthalate, and polyvinyl chloride.
Extrusion molding technology is also gaining popularity due to its ability to produce jerry cans and household containers with minimal die swelling. Overall, the market is expected to grow steadily, with extrusion and injection-stretch blow molding being the key technologies driving the market.
The market is witnessing significant growth due to the increasing demand for hollow plastic products, particularly in the production of plastic bottles for various applications such as water bottles, soft drink bottles, and wide mouth jars. The market is driven by the consumer goods sector, including beverages, where cost-effective packaging solutions are essential for brand differentiation and aesthetically pleasing designs. The pet sector also contributes to the market growth, with the production of plastic cans and containers for pet food. Flexible packaging, including hand soaps, sanitizers, and cleaning products, is another major application area. Innovative packaging solutions, sustainable practices, and eco-friendly packaging are key trends in the market.
Technologies such as injection-stretch blow molding and extrusion are used to manufacture these products, catering to the diverse requirements of the pharmaceuticals sector. Overall, the market is expected to grow steadily, driven by the increasing demand for plastic bottles and containers in various industries.
The market research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in "USD billion" for the period 2024-2028, as well as historical data from 2018-2022 for the following segments.
The food packaging segment is estimated to witness significant growth during the forecast period. The market is driven by the increasing demand for plastic components, particularly in the automotive and packaging industries. Injection blow molding and extrusion blow molding are the two primary techniques used in this market. The automotive sector utilizes blow molding machinery to produce fuel tanks, engine components, and other parts, while the packaging industry relies on it for the production of bottles and other containers made of PE, PP, PVC, PET, and other materials. The food packaging segment is experiencing substantial growth due to the rising consumption of food products and the requirement for reliable distribution and protection from post-production damage.
Small businesses are also adopting blow molding machinery to produce customized plastic components for various applications. Additionally, the trend towards energy-efficient and computer-based technologies is driving innovation in the market. Waste reduction and the increasing popularity of flexible packaging are also contributing factors. Overall, the market is expected to grow significantly during the forecast period.
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The food packaging segment was valued at USD 1.63 billion in 2018 and showed a gradual increase during the forecast period.
North America is estimated to contribute 37% to the growth of the global market during the forecast period. Technavio's analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.
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The market in North America is experiencing significant growth due to the substantial consumption and production of blow molded plastic packaging solutions in countries such as the US, Mexico, and Canada. The US, being one of the largest markets, is driving the demand for blow molding machinery, with high consumer expenditure on packaged goods in 2018. The automotive and construction sectors are major consumers of blow molded plastic components, including bottles and packaging materials, made from polymers like Polyethylene (PE), Polypropylene (PP), Polyvinyl chloride (PVC), and Polyethylene terephthalate (PET). The availability of abundant shale gas production in North America contributes to the derivation of plastic polymer resins such as HDPE, LDPE, and LLDPE.
The construction sector's increasing use of energy-efficient and lightweight blow molded components and the packaging industry's shift towards flexible packaging are further boosting market growth. Small businesses are also adopting blow molding machinery due to its cost-effectiveness and computer-based technologies' integration, reducing waste and enhancing production efficiency.
Our researchers analyzed the data with 2023 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
The growth of the e-commerce industry is the key driver of the market. The market is experiencing significant growth due to the increasing demand for hollow plastic products in various industries, particularly in the production of plastic bottles and tubes for the food & beverages and pharmaceuticals sectors. Compressed air is used in the blow molding process to inflate the parison, which forms the shape of the final product. The market for hollow plastic products is anticipated to expand, driven by the rising trend of e-commerce and the subsequent need for efficient and effective packaging solutions. In the food & beverages industry, plastic bottles, such as water bottles and soft drink bottles, are commonly used for packaging.
Further, wide mouth jars and plastic cans are also popular choices for various food items. The pharmaceuticals industry relies heavily on blow molding machinery for producing containers for packaging components and small plastic products. The importance of quality, compactness, and strength in these applications cannot be overstated. Capping machines are often used in conjunction with blow molding machinery to seal the containers, ensuring a secure and leak-proof product. The market for blow molding machinery is expected to remain strong, with ongoing advancements in technology leading to improved production efficiency and product quality. The demand for large plastic products, such as industrial containers, is also expected to remain strong, driven by the need for durable and cost-effective packaging solutions.
Development of advanced plastic machinery is the upcoming trend in the market. The market is witnessing significant growth due to the increasing demand for hollow plastic products in various industries, particularly in the production of plastic bottles and tubes for the Food & Beverages and Pharmaceuticals sectors. Advanced blow molding machinery is at the forefront of this trend, with manufacturers incorporating condition monitoring technology to enhance automation and improve the overall performance of plastic machinery. This technology allows for real-time monitoring of critical operations, such as temperature measurement, integration safety, and vibration analysis. Furthermore, the integration of high-definition touchscreen displays for supervisory control and data acquisition, as well as advanced design and simulation tools, is driving innovation in the market.
Moreover, these advancements contribute to the production of high-quality, strong, and compact plastic containers for a wide range of applications, from small plastic products to large plastic containers, including water bottles, soft drink bottles, wide mouth jars, and plastic cans. The integration of capping machines further streamlines the manufacturing process, ensuring efficient production and consistent product quality. Overall, the market is expected to continue its growth trajectory, driven by the increasing demand for plastic packaging components in various industries.
Threat from refurbished machines is a key challenge affecting the market growth. The market for producing hollow plastic products, such as plastic bottles, tubes, containers, and cans, has experienced growth but has been hindered by the high cost of machinery. This has limited the market's expansion, particularly for small businesses. The closure of industries in regions like the US and Europe due to high labor costs and stringent pollution regulations has led to an increased supply of second-hand blow molding machines from these areas. These machines are being imported to Asia Pacific (APAC) countries, including China and India, due to the region's lower manufacturing costs. The food & beverages and pharmaceuticals industries, which are significant consumers of blow molded packaging components, continue to drive market demand for high-quality and strong blow molded products.
The market forecasting report includes the adoption lifecycle of the market, covering from the innovator's stage to the laggard's stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their market growth analysis strategies.
Customer Landscape
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
Blow Enterprises - The company offers Blow Molding Machinery such as Accumulator, Single station machine, and multi cavity blow molding machine.
The market research and growth report includes detailed analyses of the competitive landscape of the market and information about key companies, including:
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
The market is witnessing significant growth due to the increasing demand for hollow plastic products, particularly in the food & beverages industry and pharmaceuticals sector. Plastic bottles, including water bottles, soft drink bottles, wide mouth jars, and plastic cans, are the primary applications for blow molding machinery. The market is driven by the need for lightweight, compact, and strong packaging components for various industries such as automotive and construction. Injection blow molding and extrusion blow molding are the two primary technologies used in blow molding machinery. Polyethylene (PE), polypropylene (PP), polyvinyl chloride (PVC), and polyethylene terephthalate (PET) are the most commonly used polymers in blow molding.
Blow molding machinery is used to produce a wide range of plastic products, from small packaging components to large-scale production of automotive parts and industrial packaging. The market is also driven by the increasing demand for eco-friendly and sustainable packaging solutions, including recycled materials and biodegradable options. The market is highly competitive, with plastic manufacturers focusing on innovation, cost-effective production, and customization options to meet the diverse needs of various industries. Advanced control systems, energy-saving features, and automation are some of the key trends in the market. Plastic tubes, capping machines, and packaging solutions are some of the other applications of blow molding machinery.
The market is expected to grow further due to the increasing demand for plastic components in various industries, including automotive, construction, electronics, and personal care.
Market Scope |
|
Report Coverage |
Details |
Page number |
146 |
Base year |
2023 |
Historic period |
2018-2022 |
Forecast period |
2024-2028 |
Growth momentum & CAGR |
Accelerate at a CAGR of 4.5% |
Market growth 2024-2028 |
USD 1.07 billion |
Market structure |
Fragmented |
YoY growth 2023-2024(%) |
4.23 |
Regional analysis |
North America, APAC, Europe, South America, and Middle East and Africa |
Performing market contribution |
North America at 37% |
Key countries |
US, China, Germany, India, and UK |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
BEKUM Maschinenfabriken GmbH, Blow Enterprises, British Plastics Federation, Chia Ming Machinery Co Ltd., Golfang Mfg. and Development Co. Ltd., Jagmohan Pla Mach Pvt. Ltd., Jiangsu Victor Machinery Co. Ltd, Jomar Corp., Meccanoplastica Srl, Nissei ASB Machine Co. Ltd., Parker plastic machinery Co. Ltd., Polymechplast Machines Ltd., Suma Plastic Machinery Co. Ltd., Sumitomo Heavy Industries Ltd., SuZhou Bestar Blow Molding Technology Co. Ltd., The Japan Steel Works Ltd., thyssenkrupp AG, Universal Machinery and Services, and Zeel plast Machinery |
Market dynamics |
Parent market analysis, market growth inducers and obstacles, market forecast, fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, market condition analysis for the forecast period |
Customization purview |
If our market report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
We can help! Our analysts can customize this market research report to meet your requirements.
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by End-user
7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Opportunity/Restraints
10 Competitive Landscape
11 Competitive Analysis
12 Appendix
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