Global progresses in the past couple of years have highlighted the fissures and complexities in the political sphere. As protectionist dealings threaten to infiltrate the philosophies of free trade, globalization is going through its most difficult test ever. The danger of populist policies unsettling the decade old trade agreements has grown larger, as the cultural and social split between the proletariat and bourgeoisie deepens. While the previous decades were noticeable by unison and creation of economic blocks, breakdown has been the recent story.
An expansion in the general utilization of products over the globe has considered the value climbs on packaging products. Decent variety sought after for packaging arrangements comes to assume a key part to classify the items based on their capacity in securing the products and their appearance upgrading qualities. The worldwide packaging industry stays at the cusp of variety with an extensive assortment of packaging designs amalgamated over numerous applications.
Injection molding containers are likely to be most preferred owing to high recyclability
HDPE has been one of the leading choices for the manufacture of heavy duty containers that are used in day-to-day life. HDPE containers have been employed to package milk containers, personal care products such as shampoos in bottles, motor oil, and household products such as laundry detergents, among others. The growing global push for recyclable packaging solutions has led to a high demand for plastics such as HDPE. Being one of the polymers to be recycled, HDPE has high acceptance in recycling centers as recycling reduces the cost of products that are made from these plastics. HDPE containers can also be reused at homes, on the condition that they have been washed properly after use. As the world observes a growing demand for recyclable packaging solutions to counter the environmental challenges posed by conventional packaging solutions, HDPE containers are expected to witness increased preference and growth in demand in the coming years. As a result, the demand for injection molding is also rising across the globe.
Growing demand from developed regions is expected to boost demand for both injection and blow molding containers
Growth in global trade volume has expanded the capacity of goods being transported, creating an absolute need for packaging solutions that ensure product integrity and reduce chances of quality deterioration during transit. HDPE is known for its impact resistant properties. HDPE containers such as IBCs, drums, pails, and crates, among others are used widely across the globe. Durable HDPE pails and buckets are used to store and ship large volumes of products, whether in solid, powdered, or liquid form. There is high demand for bulk crates made of HDPE for the storage of a broad range of industrial goods. HDPE (due to its impact resistant properties), is expected to witness high preference as a bulk packaging solution during the forecast period. In addition, in regions such as Western Europe and North America, plastic jerry cans (preferably HDPE) are fast catching up on metal jerry cans, owing to their inexpensive nature and advanced benefits.
Overview of the global HDPE blow molding and injection molding containers market with reference to the global packaging consumables market
In the years to come, sustainable packaging may no longer be viewed as an oxymoron. Packaging companies are embracing “green” techniques in manufacturing processes, accepting sustainability as a part of solution, rather than a problem. Apart from government initiatives and stringy industrial regulations, customers are also putting pressure on packaging companies to reduce content of non-biodegradable materials in their packaging products – a measure commonly known as down gauging. Urbanization can play a pivotal role in instrumenting the growth in adoption of sustainable packaging practices. Rising concentration of customer base in urban cities is propelling the awareness towards green packaging. Leading brands in the packaging sector are making more environmental choices, and are understanding that consumers’ inclination towards sustainability can render cost-savings to manufacturers and deliver tangible profits.
As the global plastic production increases at a rapid pace, packaging companies realize the need for new, smarter materials that will not swamp our oceans and stuff-up our landfills. Materials with wider range of properties are being tested for their flexibility across multiple packaging applications. Short, one-use life cycle of plastic as packaging material, is also observed to drive the demand for sustainable alternatives. Packaging for food & beverage products is witnessing an uptick in adoption of edible films & wraps made from organic starch. Some players in the sector have pioneered the use of agar as packaging alternative to bubble wrap or foam materials. Biopolymers are also making foray into packaging as alternatives to unrecyclable plastic materials.
When supply is constrained in the face of high demand, key feedstock suppliers in the packaging sector, who are often large global producers, may pass on increased commodity costs to packaging manufacturers. Packaging companies, observed as “converters” in the materials industry, are currently in a potentially vulnerable position in the value chain since they engage in converting these raw materials into value-added packaging products. It is important for packaging businesses to regulate the stability of their input raw material costs. Due to undulating feedstock costs & fluctuating raw material prices, many packagers transfer the raw material price inflation to customers, as much as possible. In terms of procurement, several players in the packaging sector tend to balance the security of raw material supply contracts with their needs assessment.
List of factors tracked in the Packaging Consumable Market Report
PMR utilizes robust methodology and approach to arrive at market size and related projections. The research methodology for this report is based on 3 dimensional model. We conduct about 45-60 min duration detailed interviews with product manufacturers; apart from this we also collect market feedback from industry experts. To validate this data, we interact with senior panel members having more than 10 years of experience in relevant field. The panel members help in validating the findings and fill the gaps if any. In addition, we leverage on our existing pool of information, paid database and other valid information sources available in public domain. Usually industry interactions extend to more than 50+ interviews from market participants across the value chain.
PMR collects data from secondary sources including company annual reports_bk_01_01_2020, association publications, industry presentations, white papers, and company press releases apart from these we leverage over paid database subscriptions and industry magazines to collect market information and developments in exhaustive manner. After being done with desk research, detailed questionnaire and discussion guide is formulated to initiate primary research with key industry personnel; the discussion aims at collecting key insights, growth perspectives, prevalent market trends and quantitative insights including market size and competition developments. Both of these research approaches help us in arriving at base year numbers and market hypothesis.
In this phase, PMR validates the data using macro and micro economic factors. For instance, growth in electricity consumption, industry value added, other industry factors, economic performance, growth of top players and sector performance is closely studied to arrive at precise estimates and refine anomalies if any.
Data Analysis and Projection
Data analysis and projections were made based on proprietary research frameworks and statistical analysis, which was further validated from industry participants. These frameworks include Y-o-Y growth projections, macro-economic factor performance, market attractiveness analysis, key financial ratios, and others.
For public companies we capture the data from company website, annual reports_bk_01_01_2020, investor presentations, paid databases. While for privately held companies, we try to gather information from the paid databases (like Factiva) and based on the information we gather from databases we estimate revenue for the companies. In addition, the team tries to establish primary contact with the companies in order to validate the assumptions or to gather quality inputs.
Standard Report Structure
The global HDPE blow molding and injection molding containers market has been segmented into:
End Use Industry