United States Blow Molded plastics Market to Grow with a CAGR of 5.09% through 2028
Growing demand of blow molded plastics in electronics
industry is expected to drive the United States Blow Molded Plastics Market
growth in the forecast period, 2024-2028.
According to
TechSci Research report, “United States Blow Molded plastics Market – By
Region, Competition, Forecast and Opportunities, 2018-2028”, the United
States Blow Molded Plastics Market stood at USD 14.94 billion in 2022 and is
anticipated to grow with a CAGR of 5.09% in the forecast period, 2023-2028. The
initiatives taken by government based on blow molded plastics has led to
favorable market conditions for the United States Blow Molded Plastics Market.
Several factors contribute to the growth of various blow molded plastics products.
One
of the most significant government efforts lies in the push for sustainability.
Many governments worldwide are actively supporting recycling and reuse policies
to reduce plastic waste and promote the use of recycled materials. By
implementing these initiatives, governments aim to address the environmental
impact of plastic waste and encourage the adoption of more sustainable
practices.
These
sustainability-focused initiatives have had a profound impact on the blow
molded plastics market. Manufacturers in the industry have been compelled to
reevaluate their practices and develop innovative solutions that align with the
principles of sustainability. This includes exploring alternative materials,
implementing more efficient production processes, and investing in research and
development to create eco-friendly alternatives.
In
addition to sustainability measures, some governments are providing financial
incentives to stimulate the growth of the blow molded plastics market. For
instance, countries like China have implemented budgetary plans and tax perks
specifically aimed at supporting and accelerating the expansion of the molded
plastics industry. These incentives not only attract investment but also
encourage manufacturers to explore new markets, invest in advanced
technologies, and foster overall growth in the sector.
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"United States Blow Molded Plastics Market.”
Blow
molded plastics are highly sought-after materials in the electronics industry
due to their remarkable characteristics. These lightweight, durable, and
versatile materials have revolutionized the creation of various components used
in electronic devices. For instance, they are extensively used in manufacturing
protective casings for smartphones and tablets, providing reliable protection
without adding unnecessary weight. Additionally, blow molded plastics are ideal
for insulation purposes, ensuring the safe and efficient transmission of
electrical signals in wiring and cabling systems.
One
of the primary driving forces behind the increasing demand for blow molded
plastics is the exponential growth in consumer electronics consumption. In
today's digital age, consumers worldwide heavily rely on a plethora of
electronic devices, including smartphones, laptops, home appliances, and
wearable technology. As our dependence on these devices continues to grow, the
need for materials like blow molded plastics becomes even more critical. These
plastics enable the production of lightweight yet sturdy components that
contribute to the functionality, longevity, and overall user experience of our
favorite gadgets.
The United
States Blow Molded Plastics Market is segmented into product, technology, application,
regional distribution, and company.
Based on its application,
the packaging segment held the largest share in the market. Blow-molded
plastics play a crucial role in providing exceptional protection for packaged
products. With the increasing demand for durable, impact-resistant, and
reliable packaging solutions, blow-molded plastics have emerged as a preferred
choice, especially for products that are vulnerable to damage during
transportation or susceptible to contamination.
These versatile
plastics possess the necessary strength and barrier properties that effectively
safeguard products and preserve their integrity throughout the supply chain. In
particular, blow-molded plastics find extensive application in the food packaging
industry. They are utilized in the manufacturing of a wide range of containers,
trays, and tubs for various food products, including dairy items, sauces,
condiments, and ready-to-eat meals.
The utilization
of blow-molded plastic packaging not only provides a protective barrier for the
enclosed products but also ensures their freshness and convenience for
consumers. By maintaining optimal product quality and enhancing shelf life,
blow-molded plastics contribute significantly to the overall satisfaction of
both manufacturers and end-users alike.
Based on region,
Midwest segment is expected to grow during the forecast period.
The Midwest
region has witnessed rapid urbanization, with a surge in construction
activities and infrastructure development. This growth has created a
significant demand for blow-molded plastics in the construction industry, where
they find extensive applications in pipes, fittings, tanks, and insulation
materials. The increasing need for affordable housing, efficient urban
infrastructure, and state-of-the-art industrial facilities has further fueled
the demand for blow-molded plastics.
Moreover, the Midwest
region boasts a large and rapidly expanding consumer market. The rising middle
class, coupled with increased disposable income levels, has led to a
substantial increase in consumption across various sectors. Packaged goods,
consumer electronics, automotive components, and more are experiencing a surge
in demand. In response to these market dynamics, blow-molded plastics have
emerged as a popular choice, thanks to their versatility, cost-effectiveness,
and ability to meet the evolving needs of a growing consumer market.
Major companies
operating in United States Blow Molded Plastics Market are:
- Magna
International Inc.
- INTERNATIONAL
AUTOMOTIVE COMPONENT GROUP S.L.
- Berry
Global Inc.
- Pet
All Manufacturing Inc.
- Inpress
Plastics Ltd.
- Dow,
Inc.
- Rustland
Plastics Ltd.
- Garrtech
In.
- Machinery
Center, Inc.
- LyondellBasell
Industries Holdings B.V.
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“Growing
application of blow molded plastics in various end user industries are key
drivers of the blow molded plastics market. Growth in competitive landscape and
presence of well-established companies in the market who are dedicated to
enhance their productivity of blow molded plastics with every passing year are
anticipated to register an impressive growth to United States Blow Molded
Plastics Market in the forecast period.,” said Mr. Karan Chechi, Research
Director with TechSci Research, a research-based management consulting firm.
“United
States Blow Molded Plastics Market Segmented By Product (Polypropylene,
Acrylonitrile Butadiene Styrene, Polyethylene, Polystyrene, Polyvinylchloride,
Polyethylene Terephthalate, Others), By Technology (Extrusion, Injection,
Stretch, Compound, Others), By Application (Packaging, Consumables &
Electronics, Automotive & Transport, Building & Construction, Medical,
Others), By Region, Competition, Forecast and Opportunities, 2018-2028”,
has evaluated the future growth potential of United States Blow Molded Plastics
Market and provides statistics & information on market size, structure and
future market growth. The report intends to provide cutting-edge market
intelligence and help decision makers take sound investment decisions. Besides,
the report also identifies and analyzes the emerging trends along with
essential drivers, challenges, and opportunities in United States Blow Molded
Plastics Market.
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