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The market for blow moulds is driven by the key players' increase in research and development activities to maintain product quality. In addition, vehicle weight regulations by the government are aiding the market growth for blow moulds. Furthermore, the rising demand for hand sanitisers and other medical products due to the outbreak of COVID-19 is leading the market demand for blow moulds. In addition, rising demand in the automotive sector and increasing construction activities drive market growth. Furthermore, the industry for blow moulds is growing further due to the high demand for bottles. There is a growing demand for blow moulded plastic from the packaging industry because it does not react with food.
Governments are taking major steps to reuse and recycle plastics, thereby leading to growth potential for the blow moulds industry. Blow moulding is cost-effective and can produce many units within a show period. Advancement in technology helps to increase productivity, which is leading the market. High-Density Polyethylene (HDPE) is widely used for plastic bottles, toys, pipe systems, and chemical containers. In January 2020, LyondellBasell (NYSE: LYB) announced Shandong Jinhai Chemical Co., Ltd. would use the LyondellBasell Hostalen “Advanced Cascade Process” (Hostalen ACP) technology for a new facility which will be used for a 400 KTA high-density polyethylene (HDPE) facility. PVC also offers wide applications such as window frames, water service pipes, wire insulation, and medical devices, among others. Such developments are expected to aid the growth of different types of moulds and the overall industry.
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The major players in the global blow moulds industry include Kiefer Mold Technologies, Heise Industries Inc, GDXL, Creative Blow Mold Tooling, Cado Company, Valencia Plastics Inc., and PET Technologies, among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.
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