According to the latest industry research report by Technavio, the global blow molding machinery market is anticipated to grow at a CAGR of almost 3% during the estimated period 2017 to 2021.
This industry report by Technavio furnishes an exhaustive breakdown of the global blow molding machinery market in terms of revenue and developing market trends. The report also incorporates a current breakdown and forecasts for various market segments and all geographical regions.
Technavio research analysts catalog the market based on the end user
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The top two revenue generating end-user segments are discussed below:
Blow molding machinery market in food packaging sector: The increasing investment by vendors to promote their brands and to enhance their brand awareness will lead to a growing demand in the blow molding machinery market. The growing demand for baby food products is driving the growth of this machinery in the food packaging market segment. The increasing application of plastic packaging in the hot drinks packaging, packaged water, milk and dairy products packaging, beer packaging, sports and energy drinks packaging, ready-to-drink (RTD) iced tea packaging, and alcoholic drink packaging section will have a positive impact on the molding machinery market.
“The changing consumer preferences will augment the demand for packaging solutions that are lightweight and have visual appeal. The rise in consumer disposable incomes and higher consumption has boosted the adoption of flexible packaging solutions in the global market. The increase in the demand for packaging materials in the food and beverage industry will have a positive effect on the blow molding machinery market over the next few years,” says Gaurav Mohindru, a lead analyst at Technavio for research on unit operations.
Blow molding machinery market in the construction sector: The extensive use of plastic components for construction of buildings, bridges, and pipelines will increase the demand for blow molding machinery in this market segment. The rise in the number of construction projects in various developed and emerging countries to expand national infrastructure, such as roads, bridges, and dams, which require an enormous amount of plastic parts like polyvinyl chloride (PVC) piping systems will fuel the demand for this machinery. The developments in the construction industry in the Asian economies will attribute to the revenues in the global market.
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The key players operating in the global blow molding machinery market are:
- BEKUM
- JSW
- Milacron
- NISSEI ASB MACHINE
The other leading vendors in the market include Aoki Technical Laboratory, Davis-Standard, Graham Engineering, Kautex Maschinenbau, CENS, Jagmohan Pla-Mach, and Agri-Industrial Plastics.
A complete analysis is offered in the Technavio report titled, ‘Global Blow Molding Machinery Market 2017-2021’. Technavio also customizes reports by other regions and specific segments upon request.
Other related reports:
- Global Electronic Goods Packaging Market 2017-2021
- Global Blow Molded Plastic Bottles Market 2017-2021
- Global Molded Plastic Packaging Market 2016-2020
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