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US-Blow Moulding Market Overview
The
US-blow moulding market was valued at US$15,600 million in 2021 and is forecast
to reach US$19,894 million by the end of 2027 after growing at a CAGR of 4.8% during 2022-2027. Blow
moulding involves injection
moulding and extrusion
blow moulding that find its massive use in a wide range of end-use
industries. Blow moulding finds its high uses in the food and beverage industry
as it assists in the high quality and precise manufacturing of plastic bottles,
plastic
drums, containers, and other plastic packaging parts in the desired
shape. The food and beverage industry is expanding in the US with increasing
spending, and this will contribute to the market’s growth in the forecast. For
instance, as per data by the United States Department of Agriculture, the food-at-home
spending segment that includes food purchased from convenience stores,
supercentres, supermarkets, and other retailers surged from US$ 808.0 billion
in 2019 to US$ 876.8 billion in 2020. Furthermore, blow moulding is extensively
used in the county’s household care sector to produce plastic bottles for
packing detergents, floor and kitchen cleaners, and various household chemicals.
The household care sector in the US is booming and this will contribute to the
market’s growth. For instance, as per the March 2021 survey by American Cleaning
Institute (ACI), the usage of household cleaning products like
bleach and bathroom cleaner by US consumers accounted for 23% and 30% in
September 2020 compared to 19% and 23% respectively in March 2020. High-density polyethylene is projected to witness the highest demand in
the forecast period. The market involves raw materials
such as polypropylene and polyethylene
terephthalate and their price fluctuation might hamper the market’s
growth.
COVID-19 Impact
The US-blow moulding market was influenced due
to the COVID-19 pandemic. The market witnessed substantial demand for blow
moulding from end-use industries such as food & beverage, pharmaceutical, and
household care. A shift in the consumer’s eating habits was noticed during the
pandemic. The demand for food items such as snacks and ready-to-eat meals surged
in the US as people were looking to cope with the social turmoil unleashed by
the COVID-19. Furthermore, the market represented decent growth due to
increasing production and sales of pharma drugs in the US. Going forward, the
market is projected to witness robust growth owing to the expansion of end-use
industries such as food & beverage, and pharmaceutical.
Report Coverage
The report: “US-Blow Moulding Market Forecast (2022-2027)”, by IndustryARC, covers an in-depth analysis of the following segments of the US-Blow Moulding Industry.
By Material Types: Polyethylene Terephthalate (PET), High-Density Polyethylene (HDPE), Polypropylene, Low-Density
Polyethylene (LDPE),
Others.
By Application: Spreads, Edible Oils, Dressings and Sauces,
Seasonings, Snack Foods, Packaged Water, Pet Food, Pet Care (Excluding Pet
Food), Crop Protection, Automotive, Others.
By End Use Industry: Food
& Beverages, Household Care, Pharmaceutical, Health & Beauty,
Industrial, Automotive, Crop Protection, Petcare (Excluding Pet Food), Pet
Food, Others
Key Takeaways:
- High-density polyethylene is leading the US-blow moulding market. This type of material offers a good moisture barrier and allows the production of opaque packaging products, making it a suitable choice in the market.
- The food & beverage industry will drive the market’s growth in the forecast period. For instance, according to data by the United States of Agriculture, countries like the US have higher food spending compared to other countries globally.
- The household care sector will drive the market’s growth in the forecast period. For instance, as per the January 2019 data by American Chemical Society, demand for detergents is increasing in the US market with brands like Tide capturing the highest market share in the US laundry market.
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US-Blow Moulding Market - By Material Types
High-density polyethylene held the largest market share in the US-blow moulding market in 2021 with a market share of up to 45%. HDPE is a chemically inert material that offers easy and cost-effective processing. This type of material also provides a superior moisture barrier and allows the production of excellent hollow packaging products. Owing to such diverse properties, market players are developing more high-density polyethylene-based products. For instance, in October 2020, US-based Berry Global that deals with blow moulding, introduced its new high-density polyethylene flip-top tube closure. Such increasing uses of high-density polyethylene will increase its uses in the forecast period.
US-Blow Moulding Market - By Application
The snack foods application segment held the largest market share in the US-blow moulding market in 2021 with a market share of 22%. Blow moulding finds its massive utilization in the manufacturing of plastic containers and bags for the packaging of a wide variety of snack foods such as cereal bars, potato chips, crackers, etc. The snack foods demand is increasing in the US as people are indulging more in snacking. As per the April 2021 report by Packaging Corporation of America, the appetite of consumers in the US has changed as people are more engaging in snacking appetite more post the pandemic. Similarly, as per the 2020 annual report by the US-based food manufacturing company Kellogg’s, the company’s net sales growth is driven owing to increased demand for food products that include snack foods. Such massive demand for snack foods is expected to augment the higher requirement of blow moulding for manufacturing plastic bottles and containers to pack the snack foods and in turn, this will contribute to the market’s growth in the forecast period.
US-Blow Moulding Market - By End Use Industry
The food & beverage industry held the largest market share in the US-blow moulding market in 2021 with a market share of 40%. The high demand for blow moulding is attributed to the rising food & beverage industry in the country. Blow moulding such as injection moulding and extrusion blow moulding are extensively used for the manufacturing of several plastic containers and bottles for packing various food items. The food & beverage industry in the country is booming with increasing production and consumption. For instance, as per the data by the US Economic Research Service (ERS), expenditure in the food at home segment increased in 2020, reaching US$ 1800 billion dollars. Similarly, as per the data by Agriculture and Agri-Food Canada, the combined sales of alcoholic beverages in Canada and the United States in 2019 stood at USD 309.1 billion, out of which retail sales in the US were valued at USD 260.2 billion. Such massive growth in the food & beverage industry in the US is expected to increase the higher uses of blow moulding for the manufacturing of several plastic containers and this will drive the market’s growth in the forecast period.
US-Blow Moulding Market Drivers
Booming household sector will drive the market’s growth
The US accounts for one of the largest markets for household care products. The increasing concern for hygiene among consumers in the country is increasing the demand for household care products. Blow moulding finds its massive uses in the manufacturing of several plastic bottles and containers for packing and storing of household products and the increasing household sector in the country will drive the market’s growth in the forecast period. For instance, as per the April 2020 data by McKinsey, the demand for cleaning supplies doubled in March 2020 owing to the shift in consumer behaviour during the pandemic. Similarly, as per the October 2021 survey by the American Cleaning Institute (ACI), 70% of people in the US stated cleaning and disinfecting their home is the best way for ensuring safety environment for their family members. This increasing demand for household care products and increasing awareness about cleanliness among US consumers is anticipated to increase the higher requirement of blow moulding and this is expected to contribute to the blow moulding market’s growth during the forecast period.
Expanding food & beverage industry will drive the market’s growth
Blow moulding is an integral process in the food & beverage industry where manufacturing processes such as injection moulding and extrusion blow moulding is used for the manufacturing of diverse plastic containers and jars for packing a wide range of food items. The food & beverage industry is expanding in the country and this will propel the market’s growth. For instance, according to the report by the US Economic Research Service, the food at home segment held the maximum shares of total food expenditures in 2020 in the US. Similarly, as per the December 2021 report by census.gov, exports of alcoholic beverages (excluding wine) stood at US$ 168 million in October 2021 which was US$ 146 million in September 2021. Such increasing growth in the food & beverage sector is expected to stimulate the higher use of blow moulding for the manufacturing of various plastic containers and this will contribute to the blow moulding market’s growth during the forecast period.
US-Blow Moulding Market Challenges
Fluctuation in the prices of raw materials might hamper the market’s growth
The blow moulding process involves raw materials such as polypropylene and polyethylene terephthalate which are petroleum-derived. The prices of these materials are fluctuating owing to the fluctuation in the price of petroleum and this might hamper the market’s growth during the forecast period. As per the report by ourworldindata.org, the price of crude oil in 2017 was USD 54.19 per barrel which jumped to USD 64.21 per barrel in 2019. The oil price again plunged to USD 41.84 per barrel in 2020. Such fluctuating oil prices created volatility in the price of petroleum which in turn is fluctuating the prices of the raw materials. This fluctuation in the raw material prices might affect the growth of the US-Blow moulding market in the forecast period.
US-Blow Moulding Market Industry Outlook
Investment in R&D activities, acquisitions, product and technology launches are key strategies adopted by players in the US-blow moulding market. Major players in the US-blow moulding market are:
- Apex
Plastics
- Berry
Global
- The Plastic
Forming Company
- Agri-Industrial
Plastics
- Creative
Blow Mold Tooling
- Comar LLC
- Custom-Pak
Inc.
- Others
Recent Development
- In December 2021, Comar LLC announced the acquisition of Omega Packaging which deals with blow molded products for skincare, pharmaceutical, and sports nutrition markets.
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