Market Size of Blow Molding Resin Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | > 5.00 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | Asia Pacific |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
Blow Molding Resin Market Analysis
The Blow Molding Resin Market is expected to register a CAGR of over 5% during the forecast period.
The COVID-19 pandemic impacted the market negtively, as lockdowns, social distances, and trade sanctions triggered massive disruptions to global supply chain networks. The construction industry witnessed a decline due to the halt in activities. However, the condition recovered in 2021, which was expected to benefit the market during the forecast period.
- Over the medium term, the factors driving the market growth for blow molding resins are rising demand from the packaging industry and construction sector in the Asia-Pacific region.
- However, on the flip side, the COVID-19 impact and high maintenance cost associated with blow molding resins are expected to hinder the market growth.
- The production technique innovation and ongoing R&D activities provide an opportunity for the market to grow in the future.
- Asia-Pacific is expected to dominate the global market due to rapid urbanization and industrialization, leading to a huge demand for blow molding resins from countries such as China, Japan, and India.
