According to a new market research report published by Credence Research “Global Stretch Blow Molding Machines Market – Growth, Future Prospects and Competitive Analysis, 2019 – 2027”, the overall stretch blow molding machines worldwide was valued at US$755.6 Mn in 2018 and is set to grow with a CAGR of 2.8% during the forecast period.
The key factor that drives the growth of sketch blow molding machines markets heavily increasing the demand for soft drinks all over the world. The growing adoption of high-temperature resistant and self-collapsible containers in the food and beverage industry is augmenting the growth of sketch blow molding machines market. The sketch blow molding machines offer high reliability, improves the production and the cost-effectiveness of the manufacturing process. Thus, this expected to fuel the growth of sketch blow molding machines market across several end-use industries. Moreover, the introduction of advanced and innovative technologies in the sketch blow molding machines are projected to create several growth opportunities in the near future.
The global stretch blow molding machines market is segmented into type and end-users. By end-users, the stretch blow molding machines are further divided into the beverage industry, pharmaceuticals, food industry, personal care, and others. Among these end-users, the market is dominated by the beverage industry which held a share of 36% in 2018, followed by the food industry. The growing demand for packaging efficiency among these end-users ensures the growth of stretch blow molding machines in the market. Additionally, the growing demand for single-step stretch blow molding machines in the consumer goods is promoting the growth of the market.
North America dominates the global market by holding a share of over 40% of the stretch blow molding machines market followed by Europe. It is anticipated to record significant growth rates during the forecast period. The continuous expansion of end-use industries and high technological advancement Stretch blow molding machines drivers for the growth of the market. Canada and the U.S are showing tremendous growth opportunities in this market. The technological advancements and the presence of major manufacturers are promoting the growth of Stretch blow molding machines market in the North America region. The Asia Pacific is predicted to witness the fastest growth in the Stretch blow molding machines market.
The key players in the global stretch blow molding machines market includes Xaar plc., Mimaki Europe B.V., Koenig & Bauer Kammann GmbH, Roland DG Corporation, O.M.S.O. SpA, Xerox Corporation, INX International Ink Co., Engineered Printing Solutions, Inc., Velox Ltd., Tonejet Limited Inc, Isimat GmbH Siebdruckmaschinen, Epson America, Inc., Roland DG Corporation and others.
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