Scienza e Tecnologia
Large Blow Molded Products Market to Observe Steady Growth Due to Growing Demand for Automotive Parts and Plastic Drums, Says TMR
ALBANY, N.Y. , Nov. 8, 2021 /PRNewswire/ -- The widening use of large blow molded products in industries such as food & beverages, automotive, petrochemicals, household, construction, and pharmaceuticals is anticipated to serve as growth generator during the forecast period of 2021-2031. The increasing use of large blow molded products in household applications such as water bottles, food packaging, and beverage bottles is expected to establish stable revenue streams.
The properties of large blow molded products such as toughness, easy processing, flexibility, toxin free, odor free, extensive clarity, and electric insulation are projected to offer growth opportunities. Many fluid storing equipment use large blow molded products. Windshield washer fluid bottles, cooling system overflow containers, and fuel tanks are commonly made using large blow molded products. These aspects are likely to serve as growth boosters for the large blow molded products market.
Transparency Market Research (TMR) has conducted an extensive research on various factors associated with the growth of the large blow molded products market. The analysts at TMR project the global market for large blow molded products to expand at a CAGR of 4.6% during the forecast period. The global large blow molded products market stood at US$ 4.79 Bn in 2020 and is expected to reach US$ 7.77 Bn by 2031.
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Large blow molded products play a crucial role in the packaging used in chemical industries. The demand for specialty chemicals has increased considerably over the years. For storing these chemicals, products such as HDPE jerry cans, HDPE carboys, and 220 liter HMHDPE L-ring drums are used on a large scale. Thus, these factors will have a profound impact on the growth of the large blow molded products market. In addition, the food & beverage industry also makes use of large blow molded products for storage requirements. These aspects are likely to drive the large blow molded products market.
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Technological developments are accelerating at a rapid pace across the large blow molded products market. One of the key instances is the increasing demand for high-tech extrusion large blow molding machines. Manufacturers in the large blow molded products market are adopting these machines to create open-head drums and plastic drums. Energy savings is an important feature that is initiating the demand for these machines.
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Some of the key players operating in the large blow molded products market are International Automotive Components Group, Supavut Industry Co., Ltd., CHATREE BLOW ( THAILAND ) CO., LTD., Jindal Plast , Mitsuchem Plast Limited, Greif, Ring Container Technologies, Inc., Thai Viwat Plastic Industry, The SCHUTZ Company, Berry Global, Inc., ALPLA, and Technoplast Ltd.
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