BlowMolding Machine Market: Introduction
In terms ofvalue, the global blow molding machine market is expected to reach US$65.1 Bn by 2030, expanding at a CAGR of ~4% duringthe forecast period. The extrusion type segment held a major share of theglobal blowmolding machine market in 2019. Low tool and die costs,rapid production, and ability to mold complex parts make extrusion blow moldingmachine ideal for usage in the manufacture of a wide range of plastic parts. Interms of raw material, the polyethylene segment accounted for a significantshare of the global blow molding machine market in 2019. Ease of molding,availability, high stiffness, environmental stress cracking resistance (ESCR),and load melt strength, and excellent rigidity make polyethylene an ideal rawmaterial for usage in the manufacture of various blow molding parts. Thepackaging end-use industry accounted for the maximum share of the global blowmolding machine market in 2019. It was followed by transportation and building& construction segments.
NorthAmerica held a leading share of the global blow molding machine market in 2019.Some of the factors influencing the market in the region are rise in disposableincome of consumers and growth in usage of plastics in the packagingsector.
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Major Drivers of Blow MoldingMachine Market
Theincrease in the usage of plastics in the electrical & electronics industryis propelling the demand for blow molding machines across theglobe. Substantial expansion of the electrical & electronics sectorowing to increase in demand for mobile phones and computers & theiraccessories is expected to drive the plastic industry during the forecastperiod. For instance, Global System for Mobile Communications (GSMA) reportedthat the number of mobile users is anticipated to increase from 5.1billion in 2018 to 5.8 billion by2025, expanding at a CAGR of 1.9%. This,in turn, is likely to boost the consumption of plastic in the electrical &electronics sector.
Plasticsemployed in the electrical & electronics sector are categorized intothermoplastics and thermosets. Thermoplastics, such as polyethylene, are usedas common materials in the industry, as they can be molten and remoldedrepeatedly. Plastic plays an important role in the electrical & electronicsindustry. Plastic components such as plastic fasteners, plastic insulatingcomponents, and plastic design elements help make electrical goods lighter andsafer. Plastics also enhance the esthetic appearance. These factors areexpected to drive the demand for blow molding machines in the electrical & electronicssector during the forecast period.
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North America Dominated BlowMolding Machine Market
NorthAmerica dominated the global blow molding machine market in 2019. This can beprimarily ascribed to the presence of a large number of manufacturers in theU.S. and rising demand for export of blow molding machines to other regionssuch as Latin America and Middle East & Africa. The packaging industry inNorth America is highly lucrative, owing to the growth in population in theregion. This is driving the demand for food products, including juices, milk,and carbonated drinks, thereby boosting the production of bottles, jars, andcontainers across the region. In turn, this is likely to propel the blowmolding machine market in North America in the near future.
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Prominent Developments in BlowMolding Machine Market
In November2019, Bekum Maschinenfabrik GmbH announced that it is in the process ofexpanding its existing manufacturing facility at Bekum America Corporation. Theexpansion would help add 40,000 square feet ofmanufacturing and 7,400 square feet ofoffice space to the company’s existing facility of 115,000square feet. The company aims to meet the rising demand for itsproducts in the U.S. through the expansion.
InSeptember 2019, Jomar Corp., a leading global manufacturer of injection blowmolding (IBM) machine for the pharmaceutical, healthcare, and householdproducts industries, announced the launch of a new IBM machine, which isavailable at an “entry-level” price for first-time processors of IBM bottles.The new entry-level Model 25 would replace the Jomar Model 20.
Competition Landscape of BlowMolding Machine Market
Thedynamics of the global blow molding machine market are dependent on long-termcontracts, goodwill of companies, and product portfolio. Internationallyorganized players and manufacturers of blow molding machines with integratedoperations possess competitive advantages due to the expertise in manufactureand sale of blow molding machines.
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Majorplayers operating in the global blow molding machine market are TheJapan Steel Works, Ltd., Jomar Corp., PARKER PLASTIC MACHINERY CO., LTD,Jiangsu Victor Machinery CO.,Ltd, GOLFANG Mfg. & Development Co., Ltd.,SUMA Plastic Machinery Co., ltd, SuZhou Bestar Blow Molding Technology Co.,Ltd.,Universal Machinery & Services, BLOW ENTERPRISES, NISSEI ASB MACHINECO.,LTD., and Jagmohan Pla-Mach Pvt. Ltd.
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