Market Overview
Global Blow Molding Plastics Market is expected to register moderate growth at a CAGR of over 4.3% during the forecast period to surpass USD 95.8 Billion by 2027. Blow molding is a process of creating hollow plastic pieces into desired structures. The increasing product demand from major end-use industries that include automotive and packaging are expected to propel the growth of the global market during the review period. Additionally, with the lift of lockdown measures and trade restrictions, the demand is evaluated to boost pace and drive market growth. However, the fluctuating raw material prices and the existence of potential substitutes are set to hinder the growth of the market.
The growth of the Global Blow Molding Plastics Market is expected to witness a healthy market growth during the forecast period. The expansion of the global market is attributed to the significantly increasing demand from the packaging industry. Moreover, the growth of the healthcare industry has contributed to the growth of the blow molding plastics market to a high degree as plastic packaging helps maintain hygiene and is less susceptible to damage and leaks than glass packaging. Additionally, the raised scope of applications and the growing demand from developing countries is to create lucrative growth opportunities for the market. However, the existence of potential substitutes may restrain the growth of the Global Blow Molding Plastics Market during the review period.

Market Segmentation
Global Blow Molding Plastics Market has been classified into Type and Application.
Based on type segment, the global blow molding plastics market has been divided into polypropylene, polyethylene, polystyrene, acrylonitrile butadiene styrene, polyvinyl chloride, polyethylene terephthalate, and others. In terms of the application segment, the global blow molding plastics market has been classified into packaging, automotive & transportation, building & construction, consumables & electronics, and others.
Regional Analysis
Geographically, the global Blow Molding Plastics Market has been classified into North America, Asia-Pacific, Europe, Latin America, and the Middle East & Africa.
Asia-Pacific is expected to register the dominant and fastest-growing market owing to the highest value share of 41% in 2019 with the highest CAGR of over 5% during the review period. The regional market growth is driven by the rising industrialization and urbanization, especially in the personal care and pharmaceutical industries in emerging economies such as China, Japan, and Southeast Asian countries.
Europe is expected to register the second largest market of the global blow molding market owing to a value of USD 19 billion in 2019, registering a CAGR of around 3.70%.
Major Players
The Prominent Players in the Global Blow Molding Plastics Market include LyondellBasell Industries Holdings B.V. (The Netherlands), Berry Global Inc (US), INEOS (UK), Magna International Inc (Canada), IAC Group (Luxembourg), Comar, LLC (US), Inpress Plastics Ltd (UK), Rutland Plastics Ltd (UK), Garrtech Inc. (Canada), Gemini Group, Inc (US), Plastic Forming Company Inc (US), and North American Plastics Ltd (US).
COVID 19 Impacts
We are continuously tracking the impact of the COVID-19 pandemic on various industries and verticals within all domains. Our research reports include the same and help you understand the drop and rise, owing to the impact of COVID-19 on the industries. Also, we help you to identify the gap between the demand and supply of your interested market. Moreover, the report helps you with the analysis, amended government regulations, and many other useful insights.

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As per the MRFR analysis, the global market for hydrocarbon solvents is projected to reach USD 6,181.2 million by 2023 and is anticipated to grow at a healthy CAGR of 2.85% during the review period.
Regional Analysis
The global hydrocarbon solvents market has been analyzed across five key regions, including North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa.
The Asia-Pacific market accounted for the largest value and volume market share which was valued at USD 2,305.6 million in 2017. It is also expected to grow at the highest CAGR of 3.20% in the coming years owing to low environmental regulations, rising application industry, and increasing consumer spending in construction. China held the largest market share of 54.1% in 2017 and is expected to grow at a high CAGR of 3.40% due to the growing construction activities, increasing demand from paints and coating industry, and rising per capita disposable income. The European market was the second-largest with a significant market share of 22.8% in 2017, owing to the surging demand for the product in pharmaceuticals, adhesives, rubber, and polymer manufacturing. Germany dominated the regional market and is expected to reach USD 453.1 million by the end of 2023 owing to the rising consumption of hydrocarbon solvents in paints and coating industry. The North American market held a significant market share and is expected to reach USD 1,671 million by 2023 during the forecast period owing to growing demand for the product in cleaning garments, leathers among others. The US was the largest market in 2017 due to the growing demand for aromatic solvents in paints for the automotive industry. The Latin American market held a substantial market share and is expected to grow at a moderate CAGR of 2.37% in the coming years. Brazil held the largest market share in the region owing to the rising demand for the product in printing inks and pharmaceutical applications. The Middle East & Africa held a small market share and is projected to grow at a steady CAGR of 2.05% in the following years. Turkey dominated the market due to easy availability of raw materials and growing demand for the product in the paints and coating industry.
Segmentation
The global hydrocarbon solvents market has been segmented on the basis of type, application, and region.
Based on type, the global hydrocarbon solvents market has been bifurcated into aliphatic and aromatic.
By application, the global hydrocarbon solvents market has been categorized into paints & coatings, cleaning & degreasing, printing inks, rubbers & polymers, adhesives, aerosols, agriculture chemicals, pharmaceuticals, and others.
The global hydrocarbon solvents market has been analyzed across five key regions, namely North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa.
Key Players
Some of the key players operating in the global hydrocarbon solvents market are Total S.A (France), ExxonMobil Corporation (US), Royal Dutch Shell (The Netherlands), DowDuPont, Inc (US), Sinopec (China), Ashland Inc. (US), BP Plc (UK), Reliance Industries Limited (India), Sasol Solvents (South Africa), Engen Petroleum Ltd (South Africa), LyondellBasell Industries Holdings B.V. (The Netherlands), Formosa Petrochemical Corporation (Taiwan), Honeywell International Inc (US), Chevron Phillips Chemical (US), Celanese Corp. (US), SK global chemical Co., Ltd. (Korea), and China National Petroleum Corporation (China).
Geographic Analysis
The report covers a brief analysis of geographical region such as:
? North America
o US
o Canada
? Europe
o Germany
o UK
o Russia
o France
o Spain
o Rest of Europe
? Asia-Pacific
o China
o India
o Japan
o South East Asia
o Australia & New Zealand
o Rest of Asia-Pacific
? Latin America
o Brazil
o Mexico
o Argentina
o Rest of Latin America
? Middle East & Africa
o Turkey
o GCC
o North Africa
o Israel
o Rest of the Middle East & Africa
Key Findings
? Global hydrocarbon solvents market is projected to reach USD 6,181.2 million by 2023 at a CAGR of 2.85%.
? Asia-Pacific was the largest market and was valued at USD 2,305.6 million in 2017, expanding at the highest CAGR of 3.20%.
? As per the analysis, China was the leading market and was valued at USD 1,247.5 million in 2017 and is projected to grow at a robust CAGR of 3.40% during the assessment period.
? Based on type, the aliphatic segment dominated the global hydrocarbon solvents market with a robust CAGR of 3.02%
? By application, the paints & coatings segment dominated the global market in 2017, with significant market share and grew at a healthy CAGR of 3.05%.
? Asia-Pacific is to be the highly focused market for key industry participants over the coming years. Favorable government policies, technological advancements, and increasing industrial investment have increased the importance of hydrocarbon solvents in this region among the industry players.

Intended Audience
? Hydrocarbon solvents manufacturers
? Raw material suppliers
? Traders and distributors of hydrocarbon solvents
? Potential investors
? Government bodies
? End-use industries
? Research organizations
DC ?CDescription
? naphtha
? industrial solvent
? aromatic solvent
? thinners in paints and coating
? solvent in rubber manufacturing
? cleaning agent
? adhesives and aerosols

The post Global Hydrocarbon Solvents Market Research Report – Forecast to 2023 first appeared on CRI Report.