PUNE, India, March 8, 2018 /PRNewswire/ --
The report "Blow Molding Resins Market by Type (Polyethylene, Polypropylene, Polyvinyl Chloride, Polyvinyl Terephthalate), Application (Packaging, Automotive & Transportation, Construction & Infrastructure), and Region - Global Forecast to 2022" published by MarketsandMarkets™, the Blow Molding Resins Market is estimated at USD 36.67 Billion in 2017 and projected to reach USD 51.95 Billion by 2022, at a CAGR of 7.2% from 2017 to 2022.
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The growth of the Blow Molding Resins Market can be attributed to the increasing consumption of blow molding resins in the packaging, food & beverages, and pharmaceutical industries. Blow molded products possess excellent stiffness and Environmental Stress Cracking Resistance (ESCR), high load melt strength, and excellent rigidity. Such properties enable the use of these resins for blow molding applications.
Among types, the polyethylene segment of the Blow Molding Resins Market is projected to grow at the highest CAGR during the forecast period from 2017 to 2022
Based on type, the Blow Molding Resins Market has been segmented into polyethylene, polypropylene, polyvinyl chloride, polyethylene terephthalate, and others. Among types, the polyethylene segment is expected to grow at the highest CAGR during the forecast period from 2017 to 2022. The increased use of blow molding resins in various applications can be attributed to their high stiffness and Environmental Stress Cracking Resistance (ESCR), high load melt strength, and excellent rigidity.
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The packaging application segment of the Blow Molding Resins Market is projected to grow at the highest CAGR between 2017 and 2022
Based on the application, the Blow Molding Resins Market has been segmented into packaging, automotive & transportation, construction & infrastructure, and others. The packaging segment is projected to be fastest-growing application segment during the forecast period. The growth of the segment is attributed to the increasing use of blow molded products to package pharmaceutical, food & beverages, cosmetics, and industrial products, such as chemicals, acids, and lubricants.
Automotive & transportation is projected to be the second largest market for blow molding resins during the forecast period. High demand for blow molding resins to produce automobile parts, such as panes and railings, bumper supports, fenders, mudguards, door locking systems, consoles, garnish pillars, cockpit systems, and fuel tanks is expected to fuel the growth of the segment.
The Asia Pacific Blow Molding Resins Market is projected to grow at the highest CAGR during the forecast period
Based on region, the Blow Molding Resins Market has been segmented into Asia Pacific, North America, Europe, South America, and Middle East and Africa. The Asia Pacific Blow Molding Resins Market is projected to grow at the highest CAGR during the forecast period. The growth of the Asia Pacific Blow Molding Resins Market can be attributed to the presence of the leading blow molding resins producers in the region. Moreover, the growing demand for blow molding resins in packaging applications, such as pharmaceutical and food & beverage products in countries, such as China, Japan, and India also contribute to the growth of the Asia Pacific Blow Molding Resins Market.
Exxon Mobil (US), LyondellBasell (Netherlands), DowDuPont (US), SABIC (Saudi Arabia), INEOS (Switzerland), Solvay (Belgium), Formosa Plastics (Taiwan), Chevron (US), Eastman (US), China Petroleum (China), and Reliance Industries (India), among others are the key players operating in the Blow Molding Resins Market.
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