North America Blow Molded Plastics Market Size & Outlook
North America blow molded plastics market, 2018-2030 (US$M)
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North America blow molded plastics market highlights
- The North America blow molded plastics market generated a revenue of USD 20,873.6 million in 2023.
- The market is expected to grow at a CAGR of 6.1% from 2024 to 2030.
- In terms of segment, injection blow molding was the largest revenue generating technology in 2023.
- Injection blow molding is the most lucrative technology segment registering the fastest growth during the forecast period.
- Country-wise, U.S. is expected to register the highest CAGR from 2024 to 2030.
North America data book summary
| Market revenue in 2023 | USD 20,873.6 million |
| Market revenue in 2030 | USD 31,580.1 million |
| Growth rate | 6.1% (CAGR from 2023 to 2030) |
| Largest segment | Injection blow molding |
| Fastest growing segment | Injection blow molding |
| Historical data covered | 2018 - 2022 |
| Base year for estimation | 2023 |
| Forecast period covered | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Extrusion blow molding, Injection blow molding, Strech blow molding, Compound Blow Molding |
| Key market players worldwide | Gemini Group Global Corp, Exxon Mobil Corp, LyondellBasell Industries NV Class A, INEOS, Magna International Inc, IAC Inc Ordinary Shares - New, Berry Global Group Inc, Dow Inc, Comar |
Other key industry trends
- In terms of revenue, North America region accounted for 26.1% of the global blow molded plastics market in 2023.
- Globally, Asia Pacific is projected to lead the regional market in terms of revenue in 2030.
- Asia Pacific is the fastest growing regional market and is projected to reach USD 48,192.8 million by 2030.
Injection blow molding was the largest segment with a revenue share of 38.01% in 2023. Horizon Databook has segmented the North America blow molded plastics market based on extrusion blow molding, injection blow molding, strech blow molding, compound blow molding covering the revenue growth of each sub-segment from 2018 to 2030.
Blow molded plastics market in North America is expected to witness slow growth as the cross-border trade among the economies got affected on account of the COVID-19 pandemic. The market is primarily driven by the rising demand for polypropylene and ABS in packaging application segment for manufacturing bottles, face masks, and face shields, among others.
The demand for blow molded plastics in various application segments, including packaging, consumables & electronics, automotive & transportation, building & construction, and medical, is expected to grow post the COVID-19 pandemic.
The North America region is one of the largest consumers of plastics owing to the high product demand from automotive, consumer products & electronics, packaging, and construction sectors. Plastics have many applications in various industries due to their benefits such as mold ability of desired shape. Many automobile manufacturers prefer plastic vehicle parts, which help achieve low-cost production and increase the bottom-line profit margin of the companies.
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Blow Molded Plastics Market Scope
Blow Molded Plastics Market Companies
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North America blow molded plastics market size, by country, 2018-2030 (US$M)
North America Blow Molded Plastics Market Outlook Share, 2023 & 2030 (US$M)
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