North America Blow Molded Plastic Market: Industry Trends, Covid19 Impact & Forecasts

The North America Blow Molded Plastic Market size is projected to reach USD 5.09 billion by 2025, according to a new report by Grand View Research, Inc., exhibiting a 4.3% CAGR during the forecast period. Blow molding is a revolutionary form of technology capable of producing various types of plastic products. It offers multiple methods of production such as extrusion blow molding. Primary raw materials used in the production of blow molded plastics include polypropylene (PP), acrylonitrile butadiene styrene, polyethylene (PE), polystyrene (PS), polyvinyl chloride (PVC), and polyethylene terephthalate (PET).

Blow molded plastics are rapidly replacing conventional materials such as wood, glass, and engineered plastics in various applications due to their flexibility, lubricity, and better strength and stiffness These plastics are also flame-retardant and have excellent UV stability and antioxidant properties). These factors are anticipated to drive the market growth over the forecast period. Increasing demand from the packaging and automobile industry is expected to be the major factor driving the product demand over the forecast period. Demand for these products was the highest in U.S. due to presence of several end-use companies in the region.

Canada also plays a significant role in the growth of plastic manufacturing industry in North America. In Mexico, the plastic manufacturing sector is in a developing stage. However, steadily increasing demand from domestic end-use industries and expanding export activities have helped increase productivity. These developments in Mexico and Canada along with their initiatives to attract Foreign Direct Investments (FDIs) for the manufacturing sectors are expected to add to their local plastic production.

Browse Details of Report @
https://www.grandviewresearch.com/industry-analysis/north-america-blow-molded-plastics-market

Further key findings from the study suggest:

• Automotive industry is one of the fastest growing end-use industries for blow molded plastics
• With rapid technological developments in automobile, conventional plastics have been replaced with lightweight, high-performance materials, which possess properties of both plastic and rubber. This will drive the marker growth
• Issues such as disposability and degradation of PET bottles have pushed environmental agencies and governments to implement stringent regulations and legislations
• Bio-based PET bottles are being increasingly used as a substitute in carbonated soft drink packaging and their demand is increasing
• Extrusion blow molded plastics was the largest segment accounting for 33.3% of the total market size in terms of revenue in 2016. The segment is expected to increase in the coming years as it is relatively cheaper than other molding processes
• Increasing focus on reducing vehicle weight to increase fuel efficiency without compromising product quality is the primary concern of the automobile manufacturers. Plastics are the main alternatives for metal components that meet all the quality and safety standards. This is expected to fuel the product demand in the automobile sector.

 About Us:
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, the company offers market intelligence studies ensuring relevant and fact-based research across a range of industries including technology, chemicals, materials, healthcare and energy.

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