CHICAGO, Feb. 13, 2020 /PRNewswire/ -- According to Arizton's recent research report, Blow Molded Plastics Market - Global Outlook and Forecast 2020-2025 is expected to grow at a CAGR of over 4% during the period 2019−2025.
1. A large part of the transaction of blow-molded plastic takes place at the production facility (spot decision made outside of the contractual agreements). Hence, the industry is characterized by both contractual and spot transactions.
2. Bio-PET bottle is over 45% costlier than petroleum-based PET bottles. Currently, vendors exhibit a high preference for non-food bio-based bioplastic suppliers than food-based feedstock suppliers, as the cost difference between the two is over 30%.
3. The transfer of higher raw material cost to customers by way of increasing the packaging cost is not instant and there exists a time lag of about 1 to 1.5 months. This transfer is independent of the client (long-term or one-off customers).
4. The pressure to introduce more non-virgin materials into the production process is high. However, at the micro-level, the adoption of alternate materials is very low and their growth is not expected to be very significant at the ground level.
5. PE plastic is presently more expensive than PET due to high demand. However, many brands are shifting to PET as it is easily available and costs low. This is especially prominent among new products in the market.
The costs of plastic resins in the production of bottles is high. Hence, the focus is always on reducing the material used without impacting the performance of the products. The cost associated with production and recycling plastic resins has affected the market, compelling stakeholders to look for alternate materials. Apart from being cost-effective and less impactful on the ecology, their lightweight heightens output as the preform wall thickness is low. The light-weighting activity has increased in the industry, especially in the 50cl category to get the weigh below the 50g. The focus is also shifting to one-liter bottles, which are the most consumed category to reduce weight, cost, and production time. The demand for lightweight products among all end-users is increasing investments in R&D with respect to plastic-type, machinery, and process technology.
The growth momentum in Europe is decelerating, while North America is accelerating. Currently, high-end automation in the US is estimated at 55%, while Canada has around 35% of the processes highly automated. In the next five years, automation is expected to reach 85% in North America. The US is a major market for innovative blow molding machines on account of its sophisticated industries and demand for cutting-edge technology. From a demand perspective, the US is a major market for industries such as F&B, pharma, and personal care. It is also a major automotive sector, with vendors such as Ford, Chrysler, General Motors, and other international OEMs.
Other vendors include - Flexcraft Company, Graham Packaging Company, Consolidated Container Company (CCC), ALPLA, Canyon Plastics, Apex Plastics, Alpha Packaging, Sidel, Inpress Plastics Ltd., Comar Plastic Packaging, W.R. Kershaw Inc., OMICO Plastics, The Plastic Forming Company, Agri-Industrial Plastics, Custom-Pak, Univation Technologies, Valencia Plastics, Millet Plastics, R&D Molders Inc., and RPC Group.
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