According to a new market report published by Credence Research, Inc., “Global Bottle Blowing Machines Market (By Technology Type (Extrusion Blowing Machine, Injection Blowing Machine, Injection Stretch Blowing Machine, and Reheat and Blow Molding Machine), By Functionality (Automatic Machine and Semi-automatic Machine), By End-use Vertical (Consumer Goods (Cosmetics & Personal Care and Household), Food & Beverages, and Pharmaceuticals)) – Growth, Future Prospects and Competitive Landscape, 2018 – 2026”, the global bottle blowing machines market expected to witness a growth of 4.7% CAGR during the forecast period to reach US$ 3.07 Bn by 2026.
The global bottle blowing machines market estimated to witness a significant growth in the coming years, expanding at a CAGR of 4.7% during the forecast period from 2018 to 2026. Rising consumer preference for bottled water across the globe is one of the major factor driving the market growth. Blow molding is a low-pressure process and has flourished to fulfill the demand for plastics bottles and containers. In the U.S. soft drink industry, number of plastic containers went from zero in 1977 to 10 Bn quantities in 1999. Even today, large amount of products are blown and expected to increase in the years to come, driving the growth prospects of bottle blowing machines market. Moreover, growing need for producing low cost and high quality bottles is another prominent factor driving the growth prospects for bottle blowing machines market. Furthermore, an environmental-friendly and sustainable practice of plastic recycling likely to offer lucrative opportunities to the global bottle blowing machines market during the forecast period from 2018 to 2026.
The global bottle blowing machines market, based on technology type was led by extrusion blowing machine technology. This technology is mainly used in the bulk manufacturing of bottles and packaging products. Based on the functionality, semi-automated machines dominated the segment in 2017. Further, based on end-use vertical, food & beverages industry accounted for major share in the market. Increased demand for ready-to-drink beverages are the major contributor to the dominance of this segment in the global market. Based on geography, Asia Pacific held the largest market share for bottle blowing machines market in 2017.
Major and established players identified in the global bottle blowing machines market include Aoki Technical Laboratory, Inc., Chumpower Machinery Corp., KHS GmbH, Nissei ASB Company, Sacmi Imola S.C., Sidel, SMI S.p.A., Krones AG, Tech-Long Packaging Machinery Co. Ltd., Zheinjang East Zhouqiang Plastic & Mould Industry Co., Ltd., BEKUM, and Jomar Corp. among others.
Browse the full Global Bottle Blowing Machines Market Growth, Future Prospects and Competitive Landscape, 2018 – 2026 report at https://www.credenceresearch.com/report/bottle-blowing-machines-market
The bottle blowing machines market appears to be fragmented in nature with the presence of regional as well as international industry players. As bottle blowing machines market is highly consumer centric, the manufacturers need to adhere to the changing end-user requirements on a constant basis. These players are focused on the adoption of several strategies such as mergers and acquisitions, partnerships and new product developments in order to serve the market as well as maintain their competitive edge over other players.
For instance, in May 2018, Tech-Long Packaging Machinery Co. Ltd. entered into a strategic partnership with another company in China, Unique Injection Molding Systems for establishing joint efforts in the Americas and Europe. The partnership was introduced by Tech-Long during NPE2018. At NPE2018 show, the two companies publicly demonstrated that the machines of Unique Injection Molding Systems are sized in such a way that they match well with Tech-Long’s blow molding machine. The partnership will result in offering a complete packaging line from preforms to package filling.