The global blow molded plastic packaging market consumed nearly 61.2 billion pounds of plastic materials in 2014 and this market should reach 77 billion pounds by 2019
Wellesley, Mass. (PRWEB) May 08, 2015
BCC Research reveals in its new report on blow-molded plastic packaging, economic, social and demographic influences are playing a key role in driving development of the global blow molded plastic packaging market. Slower economic growth in the advanced economies of Western Europe and North America will constrain future growth in these regions. In contrast, rising real incomes in the emerging and developing markets of Asia-Pacific, Central and Eastern Europe and South America will be the main engine of growth for blow molded plastic packaging over the five years to 2019.
In 2014, the global blow-molded plastic packaging market consumed just over 61 billion pounds of plastic materials with a market value at $69.1 billion. Global blow-molded plastic packaging consumption is forecast to reach 77 billion pounds and a value of $86 billion in 2019, reflecting a five-year annual compound growth (CAGR) of 4.7%.
Asia-Pacific is the largest blow-molded plastic packaging market, accounting for approximately 31% of total consumption, followed by North America (21.8%) and Western Europe (21%) in 2014.
Blow-molding markets are also growing at a faster pace than other rigid plastic packaging formats. Plastic bottles with enhanced gas barrier protection are a key demand driver for blow molded packaging. Polyethylene terephthalate (PET) is by far the most widely used plastic for blow molded bottles and jars. Barrier PET bottle demand is growing at a much higher rate than PET bottles as a whole—in the region of 8% to 9% per annum. Growing interest in sustainability and reductions in packaging-related CO2 emissions are key drivers.
“The development of plastic bottles with enhanced gas barrier properties presents a major market opportunity for plastic bottle producers over the next five-year period,” says BCC Research analyst David Platt. “Barrier plastic bottles are predicted to grow at a significantly higher rate than standard plastic packaging bottles as a whole. Beer, wine, juices, dairy products and food all present growth opportunities for barrier plastic bottles and jars.”
Blow-Molded Plastic Packaging: Technologies and Global Markets analyzes the main blow-molding technologies, the industry structure, market drivers and trends, and the key technology trends for blow molding markets.
Editors and reporters who wish to speak with the analyst should contact Steven Cumming at steven.cumming(at)bccresearch(dot)com.
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