The market for blow molding resin is expected to grow at a CAGR of around 5% globally during the forecast period.

  • Rising demand from the packaging industry, coupled with rising construction sector in Asia-Pacific region is expected to drive the market growth.
  • Huge dependency on petroleum and usage limited to hollow forms are expected to hinder the market growth.



Key Market Trends

Growing Demand from Packaging Segment

  • Blow molding resins such as polyethylene, polyethylene, polyethylene terephthalate, etc. are widely used to manufacture bottles and containers for a vast range of applications, ranging from shampoo bottles to industrial drums.
  • Such resins owing to its transparency, stiffness, excellent melt strength, processability, and environmental stress-crack resistivity are widely used to manufacture blow molded products which are further used in several packaging application.
  • The global packaging industry has been rising at a steady pace through the years owing to changing consumer preferences, rising e-commerce sector, expanding FMCG products, and majorly owing to the rising disposable income among people.
  • Bottle production is rising at a rapid pace in almost all nations owing to the hectic lifestyles among consumers which has fueled the demand for on-the-go beverages. According to industry estimates, bottles and containers consists of 53% of high-density polyethylene (HDPE) products and 38% of total HDPE products.
  • Thereby the growing packaging industry is expected to fuel the demand for blow molding resin globally through the years to come.



Asia-Pacific Region to Dominate the Market

  • Asia-Pacific region is expected to dominate the global market owing to huge demand from countries such as China and India.
  • The packaging industry in India is the fifth largest sector and is registering a growth rate of 22% to 25% per annum, according to the Packaging Industry Association of India (PIAI). The construction sector in the country is among the fastest growing sector in the world, largely driven by the investments embarked by the country’s infrastructure sector. Initiatives such as the ’Housing for All’ and ’Smart City Mission’ are expected to drive the construction sector in the country and thereby increase the demand for blow molded products in the industry.
  • China too is the leading manufacturer of automotive and electronics globally. Though the country’s ongoing trade war with United States has hampered the electronics production in the country at present, the country continues to rank among the top nations in the global market. Automotive production has witnessed a dip in the country through 2019, however, the country is expected to recover through the forecast period.
  • Moreover, the rising food & beverage and pharmaceutical industry coupled with the growing FMCG sector is expected to boost the demand for blow molded products in China, which in turn is expected to boost the demand for blow molded resin through the forecast period.



Competitive Landscape

The global blow molding resin market is fragmented in nature with the presence of a significant number of players in the global market. Some of the major companies dominating in the market include are Exxon Mobil Corporation, Chevron Phillips Chemical Company, Eastman Chemical Company, INEOS, SABIC, and Solvay amongst others.

Reasons to Purchase this report:

  • The market estimate (ME) sheet in Excel format
  • 3 months of analyst support