Blow Molded Plastics Market is expected to grow at a CAGR of 3.3% from 2021 to 2028
Blow Molded Plastics Industry Overview The global blow molded plastics market size was valued at USD 75.7 billion in 2020 and is expected to grow at a compound annual growth rate (CAGR) of 3.3% from 2021 to 2028. Growing demand from the key application sectors including construction, automotive, and packaging, particularly in BRICS (Brazil, Russia, India, China, and South Africa), is expected to drive the market over the forecast period. Amid the global Covid-19 pandemic, the demand for various pharmaceutical products, disinfectants, and sanitizers has increased. This, in turn, is driving the demand for blow molded plastics in medical applications. The segment is expected to grow at a higher rate than the consumables & electronics and building & construction segments. There has been a surge of capacity addition in high-growth regions, such as the Middle East and Asia Pacific, over the last few years. These regions are creating a consistent demand for these types of pla...