Global market blow molding plastic compound annual growth rate of 4%

Globally, blow molding plastic market is expected to 2018 - In 2022 during the compound annual growth rate of about 4%. According to Technavio report, released in September, a key factor to promote the growth of the market is more and more people are using PET as packaging solutions. PET on a global scale is used in the beverage, food, perfume and spray, cosmetics, food, medicines and other products packaging. In 2017, Romania, about 50% of the beer bottles are made of PET, because the country's consumers found the bottle is easy to use. Technavio another trend is pointed out, the growing global demand for biological PET. Polymer manufacturing technology progress promoted the various end user demand for polyethylene packaging. Biodegradable PET requirements of the materials have several, mainly packaging materials, polymer polyvinyl alcohol, polylactic acid and anhydride in the presence of the biodegradable plastics will boost demand. 'Can be easily decomposed microorganism, PET packing solution,' Technavio, a senior analyst said, 'compared with the traditional plastic, the processing of the material is much lower toxicity to the environment. Biological PET materials environmental benefits will promote its application in packaging industry, which is expected to promote the growth of blow molding plastic market. 'Food and beverage industry took the largest market share in 2017, about 66%. Is expected during the prediction, the field of end demand will dominate the global market. Consumer demand for bottled water continues to demand is blow molding plastic packing beverage, an important factor of market growth. During the prediction, the urbanization and the consumer lifestyle changes, the compound annual growth rate of global packaging beverage consumption is expected to close to 5%. Packing beverage industry development promotes beverage companies use PET, PS, PP and other plastic packaging solutions to packaging products. Beverage industry demand for rigid plastic packaging is increasing, such as metal and glass. Hard plastic packing in the global beverage market share of nearly 36%, compound annual growth rate over the next few years will exceed 5%. Moreover, global bottled water consumption is rising, it also promote the growth of the blow molding plastic market. Global bottled water market to grow by more than 32%, from 2017 in 2077. Rose $500 million to $2022 in 2747. 500 million dollars. Therefore, drinks and bottled water for packing the growing demand of market in the next five years will help to blow molding plastic compound annual growth rate of 4% growth. In terms of regional market, the asia-pacific region in 2017, leading to more than 38% of market share, followed by Europe, the Middle East, Africa and the americas. Is expected in 2018 - During 2022, the asia-pacific region will continue to dominate the market.