HDPE Blow Molding and Injection Molding Containers Market size, sales and Forecast by 2026
Due to its intrinsic physical and mechanical properties, high density polyethylene (HDPE) is highly used as packaging materials in different industries including food, beverages, pharmaceuticals, cosmetics, homecare, chemicals, and petrochemicals. Urbanization, changing consumer preferences, and expanding middle class have significantly contributed to the rising demand for consumer goods. Increased demand for consumer goods has, in turn, revolutionized the packaging industry, especially plastic packaging.
Polyethylene is most commonly used in the packaging industry. HDPE is one of the three types of polyethylene. Blow molded and injection molded HDPEs are two of the HDPE grades made specifically to meet end-user application. Blow and injection molding is highly used to produce hollow HDPE objects in large quantities. In particular, the process is used to manufacture bottles of superior visual and dimensional quality.
Low cost, easy processing, chemically inert, and ability to produce an opaque packaging material are advantages that enhance the importance of HDPE in packaging industry. HDPE has a significant penetration in day-to-day life representing its presence in packaging such as shampoo bottles, oil bottles, and other household packaging products.
According to the Research Report Insights (RRI), the global HDPE blow molding and injection molding container market is anticipated to witness a CAGR of 5.3% from 2018 to 2026. The global HDPE blow molding and injection molding container market was worth US$ 36,438.3 Mn in 2017 and is forecasted to be valued at US$ 57,600.7 Mn by 2026 end.
The global HDPE blow molding and injection molding containers market has been segmented into: Container Type – Bottles & Packer Bottles, Jerry Cans, Pails, Drums, IBCs, Crates, Paletts, Caps & Closures, Trays, Bowls & Cutlery, Others (Handles, Layer Pads); End Use Industry – Food, Beverages, Pharmaceuticals, Personal care & Cosmetics, Homecare, Chemical & Petrochemicals, Other Industrial Packaging; Technology Type – Blow Molding, Injection Molding
Use of HDPE in multiple end-user industries makes it the most widely used polymer across the globe. HDPE is highly used as a food grade plastic owing to its chemically inert nature. It is suitable for several food products including solid foods, milk, and fruit juices. The high volume milk or juice buckets are made of HDPE. As demand for bulk products increases, the global HDPE blow molding and injection molding containers market is likely to grow in future.
Recyclability feature makes HDPE the most preferred plastic by consumer. Emerging trend of circular economy, and sustainable production methods have generated huge pool of environmentally responsible manufacturers as well as consumers. HDPE containers can be reused at home after proper washing. Amidst the scenario of challenging environmental concerns associated with plastic packaging, manufacturers are searching recyclable packaging material. HDPE is one of the important recyclable plastic and, thus, its demand is set to grow in the future.
Important raw materials used in manufacturing of HDPE are ethane and benzene, which are, in turn, derived from petrochemicals. Prices of oil and petroleum have witnessed fluctuations owing to declining resources, increased transportation prices and changing economic conditions. Although cost-effective, the uncertainty of availability and affordability of raw materials can hamper the future production of HDPE. In addition, lower weather resistance, poor gas barrier, and flammable nature make HDPE vulnerable to damage in particular conditions. Moreover, development of effective and sustainable paper and paperboard-based eco-friendly packaging can negatively influence adoption of HDPE products in future.
The leading players operating in the global HDPE blow molding and injection molding container market are Greif, Inc., Mauser Group B.V., SCHÜTZ GmbH & Co. KGaA, Time Technoplast Ltd., Duplas Al Sharq LLC, Mold Tek Packaging Ltd., and Takween Advanced Industries, among others.