Innovations in Thermoforming Technology Driving Market Growth
Thermoforming Plastic Market Scope
The thermoforming plastic market is projected to grow up to USD 45.9 billion by 2024, at a CAGR of 5.7% between 2019 and 2024. The primary objective of the report is to offer information on thermoforming plastic market drivers, restraints, trends, opportunities, and value chain analysis; and updates on developments in the global F&B thermoformed plastic products market. The report conducts a quantitative as well as qualitative assessment of the global F&B thermoformed plastic products market across plastic types, thermoforming type, and regional market segments.
what is thermoforming plastic industry?
Thermoforming is a plastic manufacturing process where a sheet of plastic is heated to a pliable forming temperature, formed to a specific shape in a mold, and then trimmed to create a usable product. The thermoforming plastic industry refers to the sector of manufacturing that produces plastic products through this process.
Download PDF Brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=97181143
Thermoforming plastic products can range from simple packaging trays and cups to complex medical device components and automotive interior parts. The process is popular because it allows for the creation of high-quality, custom plastic parts at a relatively low cost, making it an efficient and effective method for producing a wide range of products.
The thermoforming plastic industry has applications in many different sectors, including food packaging, consumer products, medical devices, automotive and aerospace industries, and more. It is a large and diverse industry, with many different types of companies involved in the manufacturing process, including raw material suppliers, thermoforming equipment manufacturers, and finished product manufacturers.
Thermoforming Plastic Market Key Players
- Fabri-Kal Corp. (US)
- Berry Global Inc. (US)
- Genpak LLC (US)
- Pactiv LLC (US)
- D&W Fine Pack LLC (US)
- Amcor Ltd. (Australia)
- Dart Container Corp. (US)
- Anchor Packaging (US)
- Sabert Corporation (US)
- Sonoco Products Company (US)
Pactiv LLC (US), Amcor Ltd. (Australia), and Dart Container Corp. (US) are the major players in the thermoforming plastic market. Pactiv LLC (US) is one of the leading companies and the largest contributor to the growth of the global thermoforming plastic market.
PP-based thermoforming plastic comprises a major share of the thermoforming plastic market, in terms of value.
The thermoforming plastic market is segmented based on plastic-type as polypropylene (PP), polystyrene (PS), polyethylene terephthalate (PET), polyethylene (PE), polyvinyl chloride (PVC), bioplastics, acronytrile butadiene styrene (ABS), and others. The global thermoforming plastic market is dominated by the PP, in terms of value and volume. This is due to the extensive use of this plastic in packaging applications such as food, medical device, and automotive. The excellent strength to weight ratio, excellent energy management, resilient, good chemical resistance, and durability makes it an ideal choice for packaging applications.
Sample Pages: https://www.marketsandmarkets.com/requestsampleNew.asp?id=97181143
The pressure forming segment is projected to register the highest CAGR in the global thermoforming plastic market during the forecast period.
The thermoforming plastic market is segmented based on thermoforming type as vacuum forming, pressure forming, and mechanical forming. Pressure forming is cost-effective, and it can also be used to manufacture complex shapes due to which is used across all applications. Some of the major applications areas include medical equipment, office equipment, vented equipment enclosures, control pads, scientific instruments, detailed components, control panels, and multi-part assemblies.
Thermoforming plastic industry growth in North America
The thermoforming plastic industry in North America has experienced steady growth in recent years. According to a market research report by Technavio, the North American thermoforming plastic market is expected to grow at a compound annual growth rate (CAGR) of 5.7% by 2024.
One of the key drivers of growth in the North American thermoforming plastic industry is the increasing demand for lightweight and cost-effective packaging solutions. Thermoformed plastic packaging is lightweight and customizable, making it an attractive alternative to traditional packaging materials such as glass and metal. Additionally, advancements in thermoforming technology have made the process more efficient, allowing manufacturers to produce high-quality products at a lower cost.
The automotive industry is another sector driving growth in the North American thermoforming plastic industry. Thermoformed plastic components are increasingly being used in automotive interiors due to their light weight, durability, and ability to be customized to fit specific design requirements. Additionally, the increasing focus on fuel efficiency in the automotive industry has led to a demand for lightweight components, further driving the growth of thermoforming plastics in this sector.
English
Arabic
Français
Português
Deutsch
Türkçe
Dutch
Italiano
Russian
Romaian