Blow Molded Plastics Market size is estimated to cross USD 940 Billion by the end of 2033, growing at a CAGR of 4% during the forecast period, i.e., 2023-2033. In the year 2022, the industry size of blow molded plastics was USD 596 Billion. The growth of the market can be attributed to rising awareness of prevention of infectious disease across the globe. The demand for various pharmaceuticals products, disinfectants, and sanitizers has increased. Hand sanitizer sales in the U.S. went up by 300% in March 2020.
Blow molding is manufacturing process that is used to create hollow plastic part by inflating a heated plastic tube until it fills a mold and forms the desired shape. The process involves the use of heat, air pressure, and water. Increased demand from key application sectors including construction, automotive, and packaging such as, milk cartons, shampoo bottles, storage drums, watering cans and others. India contributes 23% of global milk production. In 2020-21, it produced about 209 million tons.
Growth Drivers
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Base Year |
2022 |
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Forecast Year |
2023-2033 |
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CAGR |
~4% |
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Base Year Market Size (2022) |
~ USD 596 Billion |
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Forecast Year Market Size (2033) |
~ USD 940 Billion |
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Regional Scope |
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Product {Polyethylene Terephthalate (PET), Polyethylene (PE), Polypropylene (PP), Polyvinyl Chloride (PVC), Polystyrene (PS), Acrylonitrile Butadiene Styrene (ABS)}
The global blow molded plastics market is segmented and analyzed for demand and supply by product into polyethylene terephthalate, polyethylene, polypropylene, polyvinyl chloride, polystyrene, and acrylonitrile butadiene styrene. Out of these, the polyethylene (PE) segment is anticipated to garner the highest market share by 2033, owing to the rising demand in packaging industries. Usage of PE compounds includes different grades of bottles used for packaging a wide range of products, such as food and chemical.
Major Macro-Economic Indicators Impacting the Market Growth
The chemical industry is a major component of the economy. According to the U.S. Bureau of Economic Analysis, in 2020, for the U.S., the value added by chemical products as a percentage of GDP was around 1.9%. Additionally, according to the World Bank, Chemical industry in the U.S. accounted for 16.43% to manufacturing value-added in 2018. With the growing demand from end-users, the market for chemical products is expected to grow in future. According to UNEP (United Nations Environment Program), the sales of chemicals are projected to almost double from 2017 to 2030. In the current scenario, Asia Pacific is the largest chemical producing and consuming region. China has the world’s largest chemical industry, that accounted for annual sales of approximately more than USD 1.5 trillion, or about more than one-third of global sales, in recent years. Additionally, a vast consumer base and favorable government policies have boosted investment in China’s chemical industry. Easy availability of low-cost raw material & labor as well as government subsidies and relaxed environmental norms have served as a production base for key vendors globally. On the other hand, according to the FICCI (Federation of Indian Chambers of Commerce & Industry), the chemical industry in India was valued at 163 billion in 2019 and it contributed 3.4% to the global chemical industry. It ranks 6th in global chemical production. This statistic shows the lucrative opportunity for the investment in businesses in Asia Pacific countries in the upcoming years.
Our in-depth analysis of the global market includes the following segments:
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By Product |
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By Bolding Method |
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By Application |
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Regionally, the global blow molded plastics market is studied into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. Amongst these markets, the market in Asia Pacific is projected to hold the largest market share by the end of 2033. The primary reason for the market growth in the region is the emergence of several domestic manufacturers with technological capabilities at lower cost. Moreover, abundance of labor is another major factor driving the market growth. According to the data by the World Bank, 66% of the population of South Asia falls under the bracket of 15 to 64 years of age, which are the most active working years.
Author Credits: Smruti Ranjan, Rajrani Baghel
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