What Is the Size of Global Thermoformed Plastic Industry?
Global Thermoformed Plastic market is growing at a CAGR of ~% in 2017-2022 and is expected to reach ~USD Bn by 2028F. The Thermoformed Plastic Market is largely driven by rising demand for effective packaging solutions across all the major industries.
Thermoformed plastics are most commonly used to make clamshell packages, package blisters, mailer trays, retail package liners, and many others. The wide acceptance of these products is fueling market growth. Furthermore, thermoformed plastics are also used in the infrastructure and automotive industries. In building and infrastructure, thermoformed plastics are used mainly for insulation applications, whereas in automotive, it has applications in interior and exterior body parts of automobiles.
The major challenge faced by the market is the volatile prices of the raw materials used for making thermoformed plastics. Hydrocarbon fuels such as crude oil, natural gas, and coal are the most common primary sources of thermoformed plastics. The regulations over the preservation of natural resources act as a restraining factor for the market. Social upheaval in major crude oil-producing countries, including Libya, Venezuela, Nigeria, Iran, and Iraq, has harmed crude oil production, causing demand and supply irregularities. The market is expected to exhibit significant growth in the forecast period due to surging demand for thermoformed plastics products in the healthcare and pharmaceutical industries.
Global Thermoformed Plastic Market By Product Type
The Global Thermoformed Plastic market is segmented by Product Type into
Polymethyl Methacrylate (PMMA), Bio-degradable polymers, Polyethylene (PE), Acrylonitrile Butadiene Styrene (ABS), Poly Vinyl Chloride (PVC), High Impact, Polystyrene (HIPS), Polystyrene (PS) and Polypropylene (PP). The Polypropylene (PP) segment held the largest market share in the global Thermoformed Plastics market in 2022, owing to its wide area of applications in food packaging products. PP is a thermoplastic polymer and is widely used to produce food packaging products such as cups, trays, margarine tubs, sandwich packs, disposable products, beverage glasses, and microwaveable containers.
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Global Thermoformed Plastic Market By Thermoforming
The Global Thermoformed Plastic Market is segmented by Thermoforming into Vacuum Forming and Pressure Forming. The Vacuum Forming segment held the largest market share in 2022 in Thermoformed plastic market. Vacuum form is often used to create packaging for a wide range of products, including food, medical devices, electronics and more.
One of the advantages of vacuum forming is that it allows for the creating of complex shapes at a low cost, as compared to other manufacturing process. Vacuum forming is a versatile process that can be used to produce a wide range of products, including packaging, trays, covers and more. It is particularly well-suited for creating large, simple shapes and is an economical option for producing low to medium volume run of parts.
Global Thermoformed Plastic Market By Thickness
The Global Thermoformed Plastic market is segmented by Thickness into Thin Gauge and Thick Gauge. Thin Gauge segment held the largest market share in the global Thermoformed Plastics market in 2022, owing to its huge demand in the healthcare sector for the manufacturing of medical device packaging trays. Thin Gauge thermoformed plastics are manufactured through contact, radiant and air heating techniques. The global virus spread has resulted in high demand for medical plastics due to which manufacturers are using thin thermoforming techniques to produce plastics for the healthcare industry.
Global Thermoformed Plastic Market By End-User
The Global Thermoformed Plastic market is segmented by End-User into Food Packaging, Agriculture Packaging, Consumer goods & appliances, Healthcare & Pharmaceutical, Construction, Electrical & electronics and Automotive Packaging & Structures. The food packaging segment held the largest market share in the global Thermoformed Plastics market in 2022, owing to the properties that allow its usage in high-quality food items requiring safe transportation. Food packaging requires extremely good quality packaging material that protects the food from moisture bacteria and older. The demand for thermoformed plastics in the food industry is extremely high as it inhibits any growth of bacteria or pathogens.
Market Taxonomy
Product Type
- Polymethyl Methacrylate (PMMA)
- Bio-degradable polymers
- Polyethylene (PE)
- Acrylonitrile Butadiene Styrene (ABS)
- Poly Vinyl Chloride (PVC)
- High Impact Polystyrene (HIPS)
- Polystyrene (PS)
- Polypropylene (PP)
Thermoforming Type
- Vacuum Forming
- Pressure Forming
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Thickness
- Thin Gauge
- Thick Gauge
End-User
- Food Packaging
- Agriculture Packaging
- Consumer goods & appliances
- Healthcare & Pharmaceutical
- Construction
- Electrical & electronics
- Automotive Packaging & Structures
By Region
- North America
- USA
- Canada
- Mexico
- Europe
- Germany
- UK
- France
- Spain
- Italy
Rest of Europe
- Asia Pacific
- China
- Japan
- South Korea
- India
- Indonesia
Australia Rest of Asia Pacific
- LAMEA
- Latin America
- Middle East
- Africa
Key Players
- D&W Fine Pack.
- Genpak LLC
- Greiner Packaging
- Pactiv LLC
- Placon
- Silgan Holdings Inc.
- Sonoco Products Company
- Dongguan Ditai Plastic Products Co.,Ltd
- SPENCER INDUSTRIES INCORPORATED
- Berry Global Inc.
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