The blow molding plastic packaging sector, estimated at USD 112.26 billion in 2022, is projected to experience robust growth at a Compound Annual Growth Rate (CAGR) of 4.7% from 2023 to 2030. Dominating the landscape, the Asia Pacific region leads the category in terms of market share. This growth trajectory is driven by the escalating demand for advanced packaging solutions across various industries. Companies are increasingly focusing on the adoption of cutting-edge technologies to streamline production processes, reduce material waste, and boost overall productivity. An illustrative example comes from Amcor in 2022, where they harnessed big data analytics to reduce plastic usage in their bottles by an impressive 10%.
Within this category, enterprises are harnessing the power of Artificial Intelligence (AI), the Internet of Things (IoT), and big data analytics to automate repetitive tasks and enable real-time data collection and analysis. This automation significantly enhances efficiency, minimizes errors, and augments productivity. For instance, Bekum Maschinenfabrik GmbH in 2022 unveiled their use of AI to automate mold loading and unloading operations.
Companies are diligently pursuing partnerships and developing in-house technologies. Noteworthy examples include:
In 2022, PepsiCo announced its adoption of lighter-weight bottles for its Aquafina water brand, featuring 10% recycled content and a 15% reduction in weight, achieved through continuous innovation in molding machines.
Agr International introduced a groundbreaking sensor in 2022 capable of real-time wall thickness measurement for bottles, ensuring they meet precise specifications and reducing defects during the blow molding process.
In May 2022, a U.S.-based plastic manufacturing and packaging firm launched a cutting-edge 32-cavity M3 micro molding machine, enabling eight injection plunges for versatile family mold applications. This innovation empowers the production of a diverse range of items within a single cycle, including intricate miniature products with complex designs.
Industry players are leveraging high-cavitation molds, high-tonnage molding machines, and press-side automation to deliver specialty packaging solutions. These encompass injection-molded lids and closures, stock extrusion blow-molded containers, and an array of engineered custom products and assemblies. In 2021, the U.S.-based company Comar inaugurated its largest facility to accommodate these advanced capabilities.
Moreover, in 2021, Sealed Air, another U.S.-based company, unveiled its adoption of 3D printing technology to craft innovative blow-molded packaging for their food line products. Packaging designed through this technology not only demonstrates sustainability but also eco-friendliness, marking a departure from traditional packaging methods.
The category's growth is poised to be driven by burgeoning packaging requirements across diverse industries. The beverage sector, in particular, is a key contributor to this growth, given its emphasis on safety and hygiene measures. This utilization of blow-molding plastic packaging not only reduces waste by over 20% but also extends shelf life to preserve nutritional values, aligning with health and safety standards.
List of Key Suppliers
• Niagara Bottling Llc
• Petainer UK Holdings Ltd.
• Nampak Plastics Europe Limited
• Plastipak Packaging Inc.
• Esterform Packaging
• Plastic Technologies Inc.
• Toyo Seikan Kaisha Ltd.
• Graham Packaging Company Inc.
• Logoplaste
• Greiner Packaging International
• Sailor Plastics
• Artenius Pet Packaging Europe (Appe)
• Amcor Rigid Plastics
• Constar Plastics B.V.
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