Blow-Molded plastic packaging market to grow at 6.1% pa

30-Mar-07

The prospects for vigorous growth in consumer blow-molded packaging are currently very favorable, as per Mastio, a consulting firm specializing in research and market trends in the plastics industry. The market will grow at an annual average rate of 6.1% through 2008, reaching 8.6 billion pounds of resin consumed. Demand will mainly be driven by increases in consumer demand for single-serve containers. The report predicts that U.S. plastic container demand is expected to exceed 200 billion units in 2010, consuming nearly 15 billion pounds of plastic resins. Growth is estimated in the processing equipment market, corresponding to this growth. Another study expects U.S. shipments of packaging machinery to grow at a cumulative annual rate of 2.8% over the next three years, reaching US$6.26 billion by 2008.