ROCKVILLE, MD, October 28, 2024 (Globe Newswire) — The global blow molding machine market was valued at USD 2,443.4 million in 2023, expanding at a remarkable CAGR of 3.7%, and This is expected to reach USD 3,604 million. 1 million people by 2034.
The automotive industry is one of the main markets for blow molding solutions. Components such as fuel tanks, air ducts, fluid reservoirs, seating components, and HVAC components are all manufactured using blow molding machines. The use of blow molds in automotive manufacturing allows the creation of fuel tanks that are not only lighter but also more durable than those manufactured using traditional methods. The use of blow molds also increases system efficiency, improves fuel consumption, and improves overall vehicle performance.
Additionally, blow molding is becoming increasingly important in the medical industry, offering many benefits for the production of a wide range of medical devices and packaging. With the continuous growth of the medical molding solutions market, companies are introducing these machines to enhance manufacturing and expand production capacity. For example, MGS Mfg Group, a US company that provides customized manufacturing solutions to the plastics sector, is building an ISO class 100,000 cleanroom at its Germantown, Wisconsin, molding facility in May 2024. This addition will enhance the company’s manufacturing and services for the healthcare market.
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Key points from market research:
The global blow molding machine market is projected to grow at a CAGR of 7% to reach USD 3,604 million by 2034. This market is growing at a CAGR of 7% from 2024 to 2034, creating an absolute revenue opportunity of USD 1,097.9 million. North America is estimated to hold a market share of 8% in 2034 The pharmaceutical and cosmetics industry is estimated to grow at a CAGR of 3%, with an absolute revenue of USD 104.8 million between 2024 and 2034 Opportunities are estimated to be created; North America and East Asia are expected to generate an absolute market share with a total opportunity of USD 532.2 million
“The adoption of sustainable solutions such as recycled plastics for manufacturing will drive the market,” said Fact.MR analysts.
Key companies driving innovation in the blow molding machine market:
AK Holdings Co., Ltd.; Bekum; Jiaming Machinery Co., Ltd.; China JWELL Intelligent Machinery Co., Ltd.; Jomar Corporation; Kautex Maschinenbau System GmbH; Krones AG; Mechano Plastic Ka. Parker Plastic Machinery Co.; Simoparma Packaging Italia Srl (TECHNE); Japan Steel Works Co., Ltd., Wilmington Machinery Co., Ltd.; Other notable players
Market development:
Key players in the global blow molding machine market are focusing on expansion activities, technological advancements, product innovations, strategic partnerships and collaborations, and regulatory compliance to capture a significant share in the industry.
For example, Trexel, a US-based company specializing in lightweighting solutions, expanded the use and licensing of its royalty-free Trexel MuCell foam solution to blow-molded parts in August 2022. Trexel has a long history of automotive blow molding applications to reduce weight, improve insulation, and extend battery life. Trexel has expanded its offerings to include a variety of packaging options, in line with what the company considers “breakthrough innovations.”
Blow molding machine industry news:
In January 2024, China-based Jwell Machinery acquired Germany-based blow molding machine manufacturer Kautex Machinenbau. According to reports, Kautex plans to continue operating as an independent company under Jwell. In January 2024, custom blow molder Container Services, Inc. (“CSI”), known for its trademarked Honey Bear bottle, acquired Apex Plastics (“Apex”). , is a custom blow molding machine mainly serving the beverage and household industries. Along with this acquisition, CSI also announced the creation of FirmaPak, a similar customer-focused blow molder platform.
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Further valuable insights are provided:
Fact.MR, in its new offering, provides an unbiased analysis of the global Blow Molding Machine market, presenting historical data from 2019 to 2023 and forecast statistics from 2024 to 2034.
In this study, we investigated the types of machines (extrusion blow molding machines, injection blow molding machines, injection stretch blow molding machines, stretch blow molding machines (linear and rotary)), raw materials (polyethylene terephthalate (PET), high density polyethylene (HDPE), low density polyethylene (LDPE), polypropylene (PP), polybutylene terephthalate (PBT), polyvinyl chloride (PVC), polystyrene (PS), nylon (PA), etc.), end use vertical (automotive, food and beverage, packaging and Containers, Electronics & Electrical, Pharmaceuticals & Cosmetics, Medical Devices, Consumer Goods, Sporting Goods, Chemicals & Lubricants, Others), Distribution Channels (Direct Sales & Agents), Global Markets Across Major World Regions (North America, Latin America, West Europe, Eastern Europe, East Asia, South Asia and the Pacific, Middle East and Africa).
Blow Molding Machine Industry Segmentation Study:
By model: Extrusion blow molding machine Injection blow molding machine Injection stretch blow molding machine Stretch blow molding machine By raw material: Polyethylene terephthalate (PET) High density polyethylene (HDPE) Low density polyethylene (LDPE) Polypropylene (PP) Polybutylene terephthalate (PBT) )Polyvinyl Chloride (PVC) Polystyrene (PS) Nylon (PA) Other by End Use Segments: Automotive Food & Beverages Packaging & Containers Electronics & Electrical Pharmaceuticals & Cosmetics Medical Devices Consumer Goods Sporting Goods Chemicals & Lubricants By Distribution Channel others :
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