Page 32 - Plastics News Issue December 2024
P. 32
COMPANY NEWS
Blow molding machine
builders in recovery mode
he blow molding machine industry is large quantities of packaging materials.
showing signs of recovery and growth,
Tdriven by an increasing demand for Asia-Pacific is leading the global market due to
lightweight, sustainable packaging solutions. The the rising adoption of flexible packaging. High-
global market is projected to grow at a compound speed and energy-efficient machines are be-
annual growth rate (CAGR) of 4.4%, expanding coming pivotal as manufacturers look to opti-
from $4.9 billion in 2024 to $6.3 billion by 2030. mize production while minimizing environmental
Key sectors like packaging, automotive, and impact. Injection blow molding machines are also
consumer goods are fueling this demand, with gaining traction for producing high-quality com-
extrusion blow molding dominating the market ponents in diverse industries.
share, particularly for its application in producing Source:- Plastic News
32 PLASTICS NEWS December 2024
