Industrial thermoform
packaging
refers to a light weight, strong, and heavy gauge that stores products hundred times of its own weight. The materials are produced by thermoforming
technique. There are three sorts of packaging material; mechanical, vacuum, and
pressure. The key benefits are included light weight, savvy, solid, and
recyclable, which make them environment-friendly, and provide stiff support,
which is favored by several brand owners which in turn has fuelled up the
product sales.
According
to study, “Global
Industrial Thermoform Packaging Market Status (2015-2019) and Forecast
(2020-2024) by Region, Product Type & End-Use” the key companies
operating in the global industrial thermoform packaging market are Anchor
Packaging, Sonoco Products Company, Bemis Company, Inc., E.I. Du Pont Nemours
and Company, Amcor Limited, Westrock Company, Placon Corporation, DS Smith PLC,
Display Pack Inc., Pactiv LLC.
Based
on type, industrial thermoform packaging market is segmented into blister skin,
clamshell and windowed. Blister packing segment has the maximum market share
owing to huge application in pharmaceutical industry as it prevents the product
contagion and exposure from the external environment. Based on heat seal coating,
market is segmented into heat seal coating, water based coating, hot-melt based
coating and solvent based coating. Solvent-based coating segment dominates the
market due to strong bond strength & resistance to water or grease and can
be processed at various temperatures. Based on raw material, market is
segmented into aluminum, paper, plastic, and paperboard. The plastic segment
includes PP (Polypropylene), HDPE (High-Density Polyethylene), PC
(Polycarbonate), ABS (Acrylonitrile Butadiene Styrene), PVC (Polyvinly
Chloride), PS (Polystyrene), Acrylic PMMA (Polymethyl Methacrylate), TPO
(Thermoplastic Polyolefin) and PET (Polyethylene Terephthalate). PET segment is
expected to exhibit higher growth rate as a result of their wide application in
bottles manufacturing during the forecast period. In addition, based on
end-use, market is segmented into food & beverage, pharmaceuticals,
electronics, home & personal care, and components packaging. Food &
beverage sector holds major share in market on account of rise in use in dairy,
packaging meat, confectionery and food services. Additionally, pharmaceutical
segment is anticipated to witness considerable growth rate because of rise in
requirement of prevention of medicines from contamination during the forecast
period.
The
industrial thermoform packaging market
is driven by rise in demand for packaging material in the food & beverage
industry, followed by improvement in living standards & change in lifestyle
of people, growth in the urbanization & industrial development, change in
preference toward the product, over wood or glass owing to odor free, moist
free, light, & flexible properties and growth in population & increase
in purchase power of the consumers. However, availability of another alternative
packaging may impact the market. Moreover, rise in trend towards consumption of
on-the-go, single-serve and ready to eat food products are a key opportunity
for market.
Based
on geography, the North-American region dominates the industrial thermoform packaging
market owing to rise in consumption of packaged products and presence of big
brands in the region. Whereas, the European and Asian-Pacific regions are
estimated to exhibit higher CAGR due to large consumer base and rise in
manufacturing industry over the forecast period. In upcoming years, it is
likely that the market will be reached at rapid pace caused by rise in the
adoption of novel technologies for instance modified atmosphere technologies by
the food manufacturers to extend the shelf life of packaged food and increase
in demand from food & beverage and pharmaceutical industry during the
forecast period.
For more information on
the research report, refer to below link:-
Contact Us:-
Ken Research
Ankur Gupta, Head Marketing & Communications
Ankur@kenresearch.com
+91-9015378249
Ken Research
Ankur Gupta, Head Marketing & Communications
Ankur@kenresearch.com
+91-9015378249
