Consumer Packaging and the Emerging Power of Extrusion Blow Molding
- Date：2023-10-25
- Read：1001
Written by: Steven Guan
Consumer packaging is at an exciting juncture with trends being shaped by evolving technologies.
Among them, extrusion blow molding is gaining exceptional traction. With a global blow molded plastics market valued at USD 80.47 billion in 2022, and a forecasted CAGR of 5.3% through 2030, it's an area deserving a closer look.
Dominance of Extrusion Blow Molding
Extrusion blow molding, accounting for over 26% of the overall market revenue in 2022, is the undisputed leader. Why the popularity? It's simple: cost-effectiveness. With lower machinery and mold costs, it's the go-to choice for manufacturers aiming for both efficiency and affordability.
Market Growth and Financial Insights
In 2021, extrusion blow molding was responsible for an impressive USD 30.3 billion in market revenue, holding a 40% share of the market. Moreover, the blow molding machine market alone is set to grow from USD 4.7 billion in 2020 to USD 6.9 billion by 2030, maintaining a steady CAGR of 3.8%.
Geographical Considerations
The Asia-Pacific region continues to dominate this market. Its growth is fueled by cost-effective manufacturing solutions, such as those offered by extrusion blow molding, making it a key player in the industry’s future.
Aligning with Industry Trends
Given the industry trends, Akei's new all-electric series machines are in perfect alignment. Following the philosophy of '降本增效'—cost reduction and efficiency improvement—Akei is contributing significantly to the industry's forward momentum.
The Sustainability Equation
The focus on sustainability is becoming more pronounced, and extrusion blow molding is no exception. The lower energy requirements mean less environmental impact, fulfilling a growing need for responsible production.
The Future Holds Promise
By 2030, the blow-molded plastics market is set to grow to USD 103.4 billion. This means there's ample room for innovation, adaptation, and growth, especially for those who embrace efficient technologies like extrusion blow molding.
Consumer packaging is at an exciting juncture with trends being shaped by evolving technologies.
Among them, extrusion blow molding is gaining exceptional traction. With a global blow molded plastics market valued at USD 80.47 billion in 2022, and a forecasted CAGR of 5.3% through 2030, it's an area deserving a closer look.
Dominance of Extrusion Blow Molding
Extrusion blow molding, accounting for over 26% of the overall market revenue in 2022, is the undisputed leader. Why the popularity? It's simple: cost-effectiveness. With lower machinery and mold costs, it's the go-to choice for manufacturers aiming for both efficiency and affordability.
Market Growth and Financial Insights
In 2021, extrusion blow molding was responsible for an impressive USD 30.3 billion in market revenue, holding a 40% share of the market. Moreover, the blow molding machine market alone is set to grow from USD 4.7 billion in 2020 to USD 6.9 billion by 2030, maintaining a steady CAGR of 3.8%.
Geographical Considerations
The Asia-Pacific region continues to dominate this market. Its growth is fueled by cost-effective manufacturing solutions, such as those offered by extrusion blow molding, making it a key player in the industry’s future.
Aligning with Industry Trends
Given the industry trends, Akei's new all-electric series machines are in perfect alignment. Following the philosophy of '降本增效'—cost reduction and efficiency improvement—Akei is contributing significantly to the industry's forward momentum.
The Sustainability Equation
The focus on sustainability is becoming more pronounced, and extrusion blow molding is no exception. The lower energy requirements mean less environmental impact, fulfilling a growing need for responsible production.
The Future Holds Promise
By 2030, the blow-molded plastics market is set to grow to USD 103.4 billion. This means there's ample room for innovation, adaptation, and growth, especially for those who embrace efficient technologies like extrusion blow molding.