According to the latest report by IMARC Group, titled “Thermoformed Plastics market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027,” The global thermoformed plastics market is expected to exhibit a CAGR of 5.67% during 2022-2027.
Thermoformed plastics are materials made from the thermoforming process wherein plastic sheets are heated and converted into an elastic form that can be molded into the desired shape. They can also be processed through plug assist forming, thick and thin gauge thermoforming, and vacuum snapback techniques. As a result, they are used in the manufacturing of automotive dashboards, interior panels, seats, air ducts, bumpers, light fixtures, industrial equipment, medical devices, and electrical panels.
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Note: We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
The increasing utilization of effective packaging solutions in various end use industries represents one of the key factors driving the market. Moreover, thermoformed plastics are widely used in the retail processing of clamshell packaging, packaging inserts, packaging blisters, and shipping trays. Apart from this, as thermoformed plastics act as a barrier against bacteria, moisture, and pungent odor, they are employed in the food and beverage (F&B) industry for sealing products and increasing their shelf life. Furthermore, thermoformed plastics are gaining traction in the construction sector for manufacturing concrete, flooring, and furniture on account of their rigidity, leakage resistance, and long-lasting properties.
Breakup by Product:
- Polymethyl Methacrylate (PMMA)
- Bio-degradable Polymers
- Polyethylene (PE)
- Acrylonitrile Butadiene Styrene (ABS)
- Poly Vinyl Chloride (PVC)
- High Impact Polystyrene (HIPS)
- Polystyrene (PS)
- Polypropylene (PP)
Breakup by Process:
- Plug Assist Forming
- Thick Gauge Thermoforming
- Thin Gauge Thermoforming
- Vacuum Snapback
Breakup by Application:
- Healthcare and Medical
- Food Packaging
- Electrical and Electronics
- Automotive Packaging
- Consumer Goods and Appliances
Breakup by Region:
- North America (United States, Canada)
- Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
- Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa
Competitive Landscape with Key Player:
- Amcor plc
- Anchor Packaging LLC
- Berry Global Inc
- Brentwood Industries Inc
- D&W Fine Pack
- Dart Container Corporation
- Fabri-Kal Corp. (Two Mitts Inc.)
- Genpak LLC (C-P Flexible Packaging)
- Greiner Packaging GmbH
- Pactiv LLC
- Placon Corporation
- Sabert Corporation
- Sonoco Products Company
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As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the industry behaviours of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.
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