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North America Blow Molded Plastics Market Forecast 2021-2028

The North America blow molded plastics market is set to evolve at a CAGR of 2.99% in terms of volume and 3.69% in terms of revenue during the forecast period, 2021-2028. The increasing demand for plastics in packaging, automotive, consumer products & electronics, and construction sectors, is estimated to be beneficial for the market under study.

The growth analysis of the North America blow molded plastics market entails the evaluation of the United States and Canada. Canada is one of the biggest producers of crude oil across the globe. The declining prices of crude oil and the rising demand for plastic are set to contribute to the plastic market growth. This is because plastics are manufactured from several petrochemicals produced from crude oil. Further, many blow molded plastic manufacturers are emerging in remote locations of the country, given the highly segregated population. Also, the per capita consumption of plastic in Canada is higher than the world average.
Moreover, there is an increasing demand for plastic auto parts in the automotive industry. This is because the country is one of the top ten manufacturers of light vehicles. The automotive industry is also the largest manufacturing sector of Canada, and therefore, a major growth driver of the plastics industry. Such factors are projected to offer lucrative growth opportunities for the blow molded plastics market.

Some of the major companies operating in the market include, Berry North America Inc, The Dow Chemical Company, Magna International Inc, The Plastic Forming Company, North American Plastics Ltd, etc.

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North America Blow Molded Plastics Market Forecast 2021-2028
Published By :Inkwood Research
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