The medical industry is one of the key end users of blow molding tools across the world. The spread of COVID 19 worldwide fueled the demand for plastic containers such as vials, syringes, and bottles used to store medicines and sanitizers, thereby augmenting the market growth. For instance, in February 2020, Fischer SA de CV started operations at a new USD 10 million plants, which is equipped with blow molder and injection molding tools. Furthermore, growing concern over plastic waste has made the food and beverage industry shift towards recycled plastics. This initiative by the industry is projected to boost market growth during the forecast period. For instance, in September 2021, Nestlé partnered with the U.K. based Yes Recycling, to recycle flexible plastics used in food packaging.
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The global blow molding tools market size is expected to reach USD 17.33 billion by 2030, according to a new report by Grand View Research, Inc. It is expected to expand at a CAGR of 3.5% from 2022 to 2030. Rising demand for blow molded plastics in the medical sector and the increasing importance of plastic recycling are anticipated to augment the market growth over the forecast period.
Blow Molding Tools Market Analysis, Size, Growth, Share, Trend, Outlook & Forecast to 2030
analysis/blow molding tools market report Asia Pacific held the largest revenue share of more than 35.0% in 2021. The coronavirus outbreak propelled the production of sanitizers in the region, which compelled
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Blow Molding Tools Market Growth & Trends
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Extrusion Injection Stretch Blow Molding Tools Application Outlook (Revenue,
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Furthermore, the rising competition is forcing key players to indulge in mergers & acquisitions and capacity expansion to stay ahead in the industry. For instance, in October 2021, AND & OR. acquired a Madrid based firm FRANCO DOLFINI AUTOMATION, a manufacturer of automation for plastic bottle production. This will help AND & OR in strengthening its position in the blow molding market. the method, the extrusion segment is anticipated to register the fastest growth rate over the forecast period. The extrusion method is used for the production of medium to large complex geometric hollow parts application, the packaging segment held the largest share of over 35.0%, in terms of revenue, in 2021. Blow molded plastics are extensively used for packaging in a wide range of industries including cosmetics, food and beverages, and pharmaceuticals Asia Pacific is projected to register a lucrative growth rate over the forecast period. Rising consumption of packaged food and beverages and increasing investments in setting up recycling plants are propelling the market growth in the region 19 has positively influenced the market as the demand for blow molded plastics increased with the production of sanitizers, cleaning products, and packaged food and beverages This Report, Visit @ analysis/blow molding tools market Research segmented the global blow molding tools market on the basis of USD Million, 2017 - 2030) USD Million, -
method, application, and region: Blow Molding Tools Method Outlook (Revenue,
manufacturers of blow molds to expand their capacity, to cater to the growing packaging needs of the pharmaceutical industry. For example, in September 2021, Mold Tek Packaging Ltd. announced to invest of INR 200 crores (~USD 26.6 million) in capacity expansion over the next 3 years.
2030) Packaging
Consumables & Electronics Automotive & Transportation Building & Construction Medical Others Blow Molding Tools Regional Outlook (Revenue, USD Million, 2017 - 2030) North America o U.S. o Canada o Mexico Europe o Germany o U.K. o France Asia Pacific o China o India o Japan o South Korea Central & South America o Brazil Middle East & Africa List of Key Players in Blow Molding Tools Market Abhijeet Dies and Tools Pvt. Ltd. ADM Precision Tools Creative Blow Mold Tooling Gemini Group HEISI INDUSTRIES, INC. Kanton Engineering Kaysun Corporation Polymold AG
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