LargeBlow Molded Products Market: Introduction
The global large blowmolded products market was valued over US$ 4.79 Bnin 2020 andis expected to reach US$ 7.77 Bn by 2031,expanding at a CAGR of 4.6% duringthe forecast period of 2021 to 2031.Large blow molded products are produced by forming hollow plastic parts. Largeblow molded products such as automotive air ducts, jerry cans, and hollowindustrial preform parts are made by using the blow molded process. Large blowmolding offers advantages compared to other injection molding processes. Many industries use one of the three blow molding types to create common everyday products, while others use the process to create unique low volumeproducts.
Most of thelarge blow molded products are made from a wide range of materials, includingPolyethylene (PE), High Density Polyethylene, Polypropylene (PP), Polycarbonate(PC), Polystyrene (PS), and Polyethylene Terephthalate (PET). Large blow moldedproducts possess properties such as stiffness and less breakage. Large blowmolded products also have good rigidity.
Large blowmolded products are primarily used in industries such as automotive, food &beverages, chemicals, petrochemicals, pharmaceutical, household, andconstruction. Large blow molded hollow plastic containers such as coolers,watering cans, construction barrels, and barriers are commonly used products inmany industries. Large blow molded products are widely used in the automotiveindustry. The blow molding process is useful for designing and mass productionof auto parts, as it is simple and cost effective. Commonly used blow moldedautomotive parts include automotive ductwork, liquid reservoirs, mudguards, andfenders.
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Key Drivers of Large Blow MoldedProducts Market
The growthof the chemical industry has positively impacted the large blow molded productsmarket due to the increase in the demand for specialty chemicals and otherchemical products. The rise in the demand for FMCG, pharmaceutical, andpersonal care products in developing countries has boosted the demand forspecialty chemicals. Products such as HDPE carboys, HDPE jerry cans, and 220liter HMHDPE L-ring drums are widely used in the chemical industry. The demandfor storage barrels of oils and bulk containers is high in countries such asChina, India, Indonesia, Vietnam, and Malaysia due to the establishment of newplants of specialty chemicals in these countries. This is boosting the largeblow molded products market in these countries.
Large blowmolded products play a vital role in packaging of products in chemical and oilindustries. HDPE blow molded kettle for edible oil is a high potential marketfor rural population. Lubricants and petrochemical products are stored in blowmolded containers. Multi-layered PET is used to store contaminated lubricantsand petrochemicals.
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Theincrease in application of the large blow molded products in the packagingindustry is likely to boost the global blow molded products market. AsiaPacific is expected to be an emerging region of the global large blow moldedproducts market in the near future. The rise in the demand for large blowmolded products in Asia Pacific is anticipated to propel the demand forpackaging in the food & beverages industry in the region. This is estimatedto augment the large blow molded products market in Asia Pacific.
Restraints of Large Blow MoldedPlastics Market
Thevolatility of raw material prices is expected to restrain the large blow moldedproducts market during the forecast period. Polyethylene is a key raw materialused in the manufacture of large blow molded products. These polymers arederived from petrochemicals. Thus, the price of large blow molded productsdepends on the global prices of petrochemical.
Theunpredictability of the oil & gas industry affects the production ofpetrochemicals. This, in turn, leads to fluctuation in prices of polyethylenederivatives such as HDPE, LDPE, and LLDPE. This is projected to hamper theglobal large blow molded products market in the near future.
The increase incompetition from geographies other than the Middle East; and emergence ofalternatives, such as shell gas, have affected the demand-supply scenario ofoil & gas products across the globe. Thus, strategies adopted by keyplayers of petrochemicals have created price volatility in derivatives ofpetrochemicals. On the other hand, the large blow molded products market isprice sensitive, as large blow molded products are widely adopted in consumerproducts. Thus, the volatility of prices of raw materials is anticipated tohamper the global large blow molded products market during the forecast period
