Molded Plastic Packaging Market in Americas 2017-2021
About Molded Plastic Packaging
Molded plastics can be defined as plastics that are molded into various shapes and sizes or into different forms such as jars, bottles, and plastic tubes. A mold is a hollow material which can be of any shape or size, filled with liquid or any other material such as plastic or glass. The liquid then sets inside the mold, adopting the exact shape and size of the mold. Molded plastics are one of the preferred forms of packaging over other packaging materials such as glass. This is because certain chemical and physical properties of molded plastics make them popular over other certain other methods of packaging.
Technavio’s analysts forecast the molded plastic packaging market in Americas to grow at a CAGR of 4.63% during the period 2017-2021.
Covered in this report
The report covers the present scenario and the growth prospects of the molded plastic packaging market in Americas for 2017-2021. The report presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Molded Plastic Packaging Market in Americas 2017-2021
Technavio recognizes the following companies as the key players in the molded plastic packaging market in Americas: Alpha Packaging, Apex Plastics, Plastipak, and Silgan Holdings.
Other Prominent Vendors in the market are: EVCO Plastics, First American Plastic Molding Enterprise, Gemini Plastics, Graham Packaging Company, Hoosier Custom Plastic, HTI Plastics, National Molding, R&D Molders, RPC Group, Sonoco, and Streamline Plastics.
Commenting on the report, an analyst from Technavio’s team said: “One trend in the market is increased focus on sustainability. With increased focus on sustainability, companies are willing to buy plastic pallets that are obtained by recycling used plastics. Recycled resin which is made from recycled PET plastic bottles are called PET post consumer resin (PCR). Companies such as Alpha Packaging provide bottles made with PCR content.”
According to the report, one driver in the market is rising demand for beverages. Rigid plastics are plastics with high tensile strength. These are used in various packaging applications. The use of rigid plastics has grown considerably due to various advantages such as non-corrosiveness, lightweight, and low cost. In addition, it can be easily molded and is hence expected to drive the market during the forecast period. Various molding processes, such as extrusion molding, injection molding, and blow molding are used to manufacture different rigid plastic packaging products.
Further, the report states that one challenge in the market is expected rise in the prices of raw material. The cost of the raw material is an important factor determining the cost of the end-products. It is estimated that the price of the crude oil is expected to rise during the forecast period. Plastic resins are derivates of crude oil. The price of the crude oil had decreased in the past due to increased production by countries such as Russia and Canada, and the removal of certain sanctions on Iran also added to the influx of crude oil in the market. Moreover, the US has increased their production of crude oil through the use of the fracking technology.
Alpha Packaging, Apex Plastics, Plastipak, Silgan Holdings, EVCO Plastics, First American Plastic Molding Enterprise, Gemini Plastics, Graham Packaging Company, Hoosier Custom Plastic, HTI Plastics, National Molding, R&D Molders, RPC Group, Sonoco, and Streamline Plastics.
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