Dallas, Texas, Oct. 27, 2022 (GLOBE NEWSWIRE) -- The stretch blow molding machine is a tool used in the production of several kinds of containers, including bottles and jars. Utilizing this device, molten plastic is stretched and molded into the proper container shape. The machines that make the containers for packaging, transportation, building & construction, electrical & electronic, and other industries are widely utilized. Among the key reasons propelling the expansion of the market is the increased demand for sturdy, lightweight containers from a variety of end-use industries.
The Global Stretch Blow Molding Machine Market is expected to reach US$ 2801 million by 2028, growing at a CAGR of 3.84% during the projected timeframe.
Furthermore, a major development opportunity for the market is anticipated due to the growing usage of stretch blow Molding machines by small and medium-sized businesses (SMEs). A further factor that is anticipated to aid in the market's expansion is the growing popularity of recycled PET (rPET).
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Global Stretch Blow Moulding Machine Market Scope:
| Metrics | Details |
| Study Period | 2018-2028 |
| Market Size in 2028 | USD 2769 million |
| Segment Covered | Type, Application, Regions |
| by Type Covered | Extrusion blow moulding, injection blow moulding, injection stretch blow moulding |
| End-User Covered | Paint stripper, resin, solvent, additives |
| Regions Covered | North America, Europe, Asia Pacific, Middle East, and Africa and South America |
| Key Players Profiled | Krones AG, SMI S.p.A., NISSEI ASB MACHINE CO., LTD., Sacmi Imola S.C., KHS Group, Sidel, PARKER PLASTIC MACHINERY CO., LTD, KEENPRO INDUSTRY CORP., Kenplas Industry Ltd., CHUMPOWER MACHINERY CORPORATION., Aoki Technical Laboratory, Inc |
The major market players are concentrating on a variety of methods, including mergers and acquisitions, expansions, and the development of new products, to obtain a competitive edge in the market and to preserve their position in the market. These major companies are also concentrating on a number of growth tactics, such as geographic expansion, to secure a sizable market share globally and satisfy the growing demand for strong and light containers coming from a variety of end-use sectors.
This is due to the rise in demand for stretch blow molded products from a variety of end-use industries, including packaging, transportation, building & construction, electrical & electronic, and others. The market is expanding in part because people are becoming more and more aware of the advantages of adopting stretch blow-molded items.
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Considering that extrusion can manufacture a lot of containers while using little energy, it is anticipated that this market segment would expand quickly over the coming years. Market segments have been established based on the basic materials they include, including polypropylene (PP), polyethylene terephthalate (PET), polystyrene (PS), polyethylene, and polyvinyl chloride (PVC). Due to its outstanding strength, transparency, chemical resistance, and recyclable qualities, the polyethylene terephthalate (PET) category is predicted to expand significantly over the course of the forecast period.
The demand for stretch blow molding containers from various food and beverage and healthcare industries is expected to increase, leading to significant growth in the packaging market over the forecast period. Due to an increase in demand for fuel tanks and other automotive components, the transportation industry is also predicted to grow significantly over the duration of the projection period.
Due to supportive governmental policies, expanding end-use industries, and the accessibility of raw materials in the region, the Asia Pacific region is anticipated to hold the market's top spot and grow quickly throughout the course of the forecast period. In addition, the region's end-use industries are expected to increase their demand for sturdy, lightweight containers, which will cause North America to expand significantly throughout the projection period.
A renowned supplier of stretch blow Molding and filling & capping equipment for the beverage industry, CFT Group, was bought by Krones AG in September 2019. It is anticipated that the acquisition will aid Krones AG in improving its position on a global scale.
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Important points from the Table of Contents:
1. Introduction
2. Research Methodology
3. Market Outlook
4. Stretch Blow Moulding Machine Market by Type, 2022-2029 (USD Million)
5. Stretch Blow Moulding Machine Market by Application, 2022-2029 (USD Million)
6. Stretch Blow Moulding Machine Market by Region, 2022-2029 (USD Million)
6.1. North America
6.1.1. US
6.1.2. Canada
6.2. Europe
6.2.1. UK
6.2.2. Germany
6.2.3. France
6.2.4. Rest of Europe
6.3. Asia Pacific
6.3.1. China
6.3.2. Japan
6.3.3. India
6.3.4. Rest of Asia Pacific
6.4. Latin America
6.4.1. Brazil
6.4.2. Mexico
6.4.3. Rest of Latin America
6.5. Middle East & Africa
7. Competitive Landscape
8. Company Profile
9. Appendix
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