The global blow molding machine market size was valued at USD 5.52 billion in 2022. It is estimated to reach USD 7.58 billion by 2031, growing at a CAGR of 3.6% during the forecast period (2023–2031).
A blow molding machine is a machinery that performs the blow molding process for mass production of molded plastic products and parts. The process of blow molding involves creating hollow objects by inflating or blowing a thermoplastic molten tube known as a "parison" into the cavity of a mold. A parison with closed female mold halves is extruded or "dropped" throughout the procedure. The product's shape is contained in the female mold's two halves.
The closing female mold halves compress the parison's bottom hole shut. The heated mixture is blown out against the cavity walls by a pressured gas, often air, creating the final product. A blow mold machine is the device that makes blow molding possible. Blow molding can be divided into injection, stretch, and extrusion. Plastic bottles, automobile parts, industrial containers, toys, building industry items, and other plastic components are all produced via blow molding.
Blow molding is an automated process where an automatic tool runs on a molding machine without much difficulty. Machines and robotics execute the majority of the blow molding process. These are the sole operators to control and manage the process. Therefore, this automation reduces the labor cost for the process, which is further expected to minimize the overall cost of manufacturing plastic parts. Blow molding can also easily produce large amounts of identical parts per hour.
Once the molding presses are pre-programmed, this process becomes rapid compared to other molding methods. Moreover, many parts can be produced from a single mold through blow molding in less time. Higher manufacturing rates and rapid production through blow molding are expected to drive the growth of the global market. Furthermore, the blow molding process facilitates the production of plastic parts with different finishes such as medium texture, light texture, screen printed, and pad printed. Hence, low labor costs and mass production associated with blow molding machines are expected to boost the market's growth.
A major advantage of using the blow molding process is that it can simultaneously manufacture different types of plastic to manufacture plastic parts. In blow molding, manufacturers can use thermoplastics, thermosetting, and a mix of elastomers to get results with specific properties. This process enables the production of more complex parts in different shapes and designs.
Additionally, the producer can change the component's material and color after the mold is created. This factor is expected to drive the global blow molding machines market. In addition, the blow molding process facilitates reducing waste while manufacturing. Most of the plastics used in blow molding can be recycled. The process is environmentally friendly, which reduces waste generation and is expected to stimulate global market expansion.
The blow molding tools need a high initial cost of investment, which acts as a major limiting factor for the blow molding process. This serves as a common entry barrier for manufacturers while entering the market. Similarly, the cost of the machine is considerably high, which is expected to hamper the market's growth. However, as the production cost is low and market demand is high, the return on investment is at a high fraction; thus, the impact of this restraint is expected to reduce soon.
In addition, prominent players are focusing on manufacturing energy-efficient blow molding machines with reduced energy consumption to gain consumers and attain a sustainable manufacturing process. Hence, the high initial equipment cost will limit the market's growth.
The requirements and trends influence the technological advancements and design improvements in the blow molding machines market in the end-user segments of blow-molded plastic products, specifically in automotive, consumer goods, and packaging. In addition, major players are focused on introducing energy-efficient, innovative, reliable, and advanced injection molding machines in the market; for example, U.S.-based Milacron offers a wide range of blow molding machines with advanced features such as 3-D high-performance, which is highly efficient and precise, and has enhanced stiffness.
Additionally, industrialists aim to create machines that ease production, lessen maintenance costs, offer production suppleness, and cut wastage and lead times. Hence, new process advancements, such as gas-assisted, foam, co-injection, and multiple components, are predicted to offer lucrative opportunities for manufacturers. Furthermore, countries like the U.S., Germany, Japan, and others have highly advanced technological businesses, developed processing facilities, highly competent workforces, and increased R&D initiatives. Therefore, the rise in applications and elevated competition inspire companies to focus on technological advancements to meet consumer demand, thereby driving market growth.
The global blow molding machine market is segmented by application and raw material.
Based on application, the global molding machine market is segmented into packaging, automotive, construction, and others.
The packaging segment owns the highest market share and is estimated to exhibit a CAGR of 3.2% during the forecast period. Packaging is a substantial part of the ever-growing plastic industry. The packaging materials utilized are polymers and also their combinations. The utilization of different plastic materials is decided as per the shelf life of the product which is to be packed. There is a rise in the adoption of blow molding machines for many applications in the packaging industry. Moreover, economies like India, China, and South Korea are expected to augment market expansion due to increased demand for molded plastic products in the region. This is attributed to the development of the packaging industry and the increased market share of flexible packaging. Globally, China is one of the major packaging countries.
In addition, consumers prefer flexible packaging as it is cost-effective, lightweight, and easy to dispose of. Many companies are also investing in the domestic manufacturing and packaging sector, which has increased the demand for blow molding machines to produce plastic products. These provide lucrative opportunities to market players during the forecast period.
Rapid industrialization in developing regions, especially in Asian countries, offers lucrative growth opportunities for the manufacturer of blow molding machines. An increase in government initiatives and regulations such as Make in India and Made in China 2025 for the machine industry are expected to boost the market's growth soon. The automotive sector is a key contributor toward the growth of the blow molding machine industry. Particularly in emerging markets, the growth of the automotive sector is projected to fuel demand for blow molding machines. For example, the automotive industry in India, China, and Germany is ranked as one of the largest industries in the world. Moreover, India manufactures around 25–30% of the total small cars sold globally. Similar trends have been observed in other developing nations.
Based on raw materials, the global blow molding machine market is bifurcated into polyethylene (PE), polypropylene (PP), polyvinyl chloride (PVC), polyethylene terephthalate (PET), and others.
The polyethylene (PE) segment dominates the global market and is projected to exhibit a CAGR of 4.0% over the forecast period. Polyethylene (PE) is a thermoplastic. It is the most common type of plastic, primarily used to manufacture containers, plastic films, geomembranes, plastic bags, and bottles. Polyethylene (PE) is a thermoplastic manufactured from the monomer ethylene. It is widely used for manufacturing plastic bags, tubing, plastic parts for computer components, wash bottles, dispensing bottles, and molded laboratory equipment. Similarly, pharmaceutical companies' growth in the utilization of molded laboratory equipment fuels market growth.
In addition, key vendors have introduced innovative blown film plastic extrusion machine which utilizes polyethylene (PE). For instance, Shubham Extrusion Pvt. Ltd. offers a variety of blown film plastic extrusion machines to the market, including 5-layer and 7-layer co-extrusion blown film plants, twin-die blown film plants, and others for varied applications such as lamination films, courier bag films, agriculture film, liner bags, and others. This factor offers lucrative growth opportunities for the market growth during the forecast period.
Polypropylene (PP) is a thermoplastic polymer. It is manufactured via chain-growth polymerization from the monomer propylene and used to manufacture plastic components for automotive applications, household goods, containers, appliances, packaging, electrical/electronic applications, and industrial applications. The polypropylene market (PP) blow molding machines are expected to grow in accordance with the growth in consumer goods and food and beverage sectors, owing to their stiffness, impact resistance, and strength. A majority of the growth in the market is expected to be witnessed from the emerging countries of Africa and Asia-Pacific. The factors such as the rise in demand for packaging in home and personal care goods, fresh food and beverage, and retail industries, along with the growth of the pharmaceutical industry, boost the growth of the global market.
Based on region, the global blow molding machine market is bifurcated into North America, Europe, Asia-Pacific, and LAMEA.
Asia-Pacific is the most significant global molding machine market shareholder and is anticipated to exhibit a CAGR of 3.9% during the forecast period. Asia-Pacific is densely populated, with India and China being the most populated countries. Economies like China, India, and Indonesia are expected to support market expansion due to the region's increased demand for blow-molded plastic products. This is attributed to the development of the packaging industry and the increased market share of flexible packaging. The major advantage of flexible packaging is that it is cost-effective and lightweight. In light of its portability and convenience for disposal, it has gained popularity among consumers. By 2022, India's flexible packaging sector is predicted to have expanded by more than 10%.
In addition, prominent companies are adopting various strategies such as partnerships, acquisitions, and others to accelerate market growth. For instance 2017, Toyo Machinery and Metal of Japan tied up with Hyundai Injection Machinery of South Korea. This tie-up was done to market electric injection blow molding machines in Asia-Pacific and globally. Due to their low manufacturing cost, the increase in demand for packaged goods in regions like India and China also fuels the need for blow-molded plastic products, thereby boosting the market's growth.
Europe is estimated to exhibit a CAGR of 2.9% over the forecast period. The rise in the adoption of blow molding machines has been witnessed in the European region, owing to their high quality and energy-saving features. In addition, key players are working hard to offer blow molding machines according to the requirements of their customers by providing customized and required type-based machines. For instance, ARBURG deals in various blow molding machines, including hydraulic, hybrid, electric, cube-mold, and vertical-type machines. The economic development of Europe has led to a larger consumer market, which has inadvertently benefited the whole molded plastics market, thereby propelling the blow molding machines market. In addition, an increase in the packaging, automobile, and electrical appliances industries is expected to boost the adoption of blow-molded plastics, accelerating the growth of the blow-molding machines market in Europe.
North America includes the U.S., Canada, and Mexico. Blow molding machines offered by key players in this region possess properties such as durability, high quality, and ease of maintenance. For instance, Canada-based Pet All Manufacturing Inc. manufactures various blow molding machines in North America, including extrusion blow molding machines (EBM), injection blow molding machines (IBM), and accumulator head blow molding machines. In addition, the rise in demand for blow molding machines due to their energy-saving, high-speed, and high-quality features is expected to expedite the market's growth. Furthermore, an increase in demand for blow-molded plastic products in automotive, healthcare, and others is anticipated to boost the market's growth. The manufacturing industry in the U.S. drove 11.6% of the U.S. economic output in 2018. These scenarios are expected to increase the blow molding machines market adoption during the forecast period.
LAMEA consists of Latin America and the Middle East and Africa. Emerging regions, such as Africa and other countries, demand more blow molding machinery owing to the increase in the need for molded plastic products in the region. In addition, varied features of these machines, such as minimal maintenance, mass production, identical products, and others, are expected to fuel the market growth. In addition, major players are dealing in high-performance and high-quality injection molding machines. For instance, Sumitomo (SHI) Demag Plastics Machinery GmbH offers a variety of injection blow molding machines through its distributors Polymac in Egypt and Demaplastech Machinery (Pty) Ltd. in South Africa.
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