Thermoforming Plastic Market Scope
The thermforming plastic market encompasses the use of thermoplastic materials in the manufacturing process of thermoforming. This process involves heating a thermoplastic sheet to a pliable forming temperature, forming it into a specific shape in a mold, and then cooling it to retain that shape. The market for thermoforming plastics includes a wide range of industries such as packaging, automotive, construction, and consumer goods. The demand for thermoforming plastics is driven by factors such as increasing consumer demand for packaged goods, growth in the automotive and construction industries, and the need for lightweight and cost-effective materials. The market is expected to continue growing in the forecast period due to the increasing use of thermoforming plastics in various applications and the development of new technologies and materials.
The thermoforming plastic market is projected to grow from USD 34.8 billion in 2019 to USD 45.9 billion by 2024, at a CAGR of 5.7% between 2019 and 2024. The report provides the current market size for Thermoforming Plastics, defines trends and presents growth forecasts for nine years from 2019 to 2024. 2018 is considered as the base year, and 2019 to 2024 is forecast year for the entire report. All the market numbers for revenue are provided in US dollars. The market is analyzed by the supply side, considering the market penetration of Thermoforming Plastics Market for all the regions globally.
Thermoforming Plastic Market Drivers and Restraints
Thermoforming plastic market drivers include increasing demand for lightweight and durable packaging materials, growing popularity of thermoformed plastic products in various industries such as automotive, medical, and food packaging, and advancements in technology leading to improved efficiency and cost-effectiveness of thermoforming processes.
Restraints in the thermoforming plastic market include high cost of raw materials, lack of awareness about thermoforming and its benefits, and stringent regulations for plastic waste disposal. Additionally, fluctuations in oil prices can affect the cost of plastic production and thus have an impact on the market.
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Thermoforming Plastic Market Key Points:
- Define, describe, and forecast thermoforming plastic market by plastic type, thermoforming type, parts type and region.
- Provide enterprise external environment analysis and SWOT analysis.
- Provide strategies for company to deal with the impact of COVID-19.
- Provide market dynamic analysis, including market driving factors, market development constraints.
- Provide market entry strategy analysis for new players or players who are ready to enter the market, including market segment definition, client analysis, distribution model, product messaging and positioning, and price strategy analysis.
- Keep up with international market trends and provide analysis of the impact of the COVID-19 epidemic on major regions of the world.
- Analyse the market opportunities of stakeholders and provide market leaders with details of the competitive landscape.
Thermoforming Plastic Market Key Players
- Fabri-Kal Corp. (US)
- Berry Global Inc. (US)
- Genpak LLC (US)
- Pactiv LLC (US)
- DW Fine Pack LLC (US)
- Amcor Ltd. (Australia)
- Dart Container Corp. (US)
- Anchor Packaging (US)
- Sabert Corporation (US)
- Sonoco Products Company (US)
Thermoforming Plastic Market Segment Overview
Based on plastic-type
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.
Based on thermoforming type
- Vacuum Forming
- Pressure Forming
- Mechanical Forming
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.
Based on thickness
- Thin Gauge
- Thick Gauge
Based on end-use industry
- Food Agricultural Packaging
- Consumer Goods Appliances
- Healthcare Pharmaceutical
- Electrical Electronics
- Automotive Packaging Structures
- Others (industrial and aerospace)
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Based on the region
- North America
- Latin America
North America is expected to account for the largest market share in the thermoforming plastic market during the forecast period.
North America led the thermoforming plastic market in 2018 due to the high demand of thermoformed structural parts and thermoformed packaging from automotive, food agriculture packaging, consumer goods appliances and healthcare industries in this region. The demand for thermoforming plastic will be driven by factors such as increasing electronic goods sales, high disposable income, increasing demand for packaged foods, and demographic changes. North America is home to some of the prominent thermoforming plastic manufacturers such as Pactiv LLC, Sonoco Products Company, DW Fine Pack LLC, and so on. Technological advancements in the packaging industry primarily drive the market in this region.
Table of Contents
1 Introduction (Page No. - 17)
1.1 Objectives of the Study
1.2 Market Definition
1.3 Market Scope
1.3.1 Thermoforming Plastic Market: Market Segmentation
1.3.2 Years Considered for the Report
1.5 Unit Considered
2 Research Methodology (Page No. - 21)
2.1 Research Data
2.2 Secondary Data
18.104.22.168 Key Data From Secondary Sources
2.2.2 Primary Data
22.214.171.124 Key Data From Primary Sources
126.96.36.199 Key Industry Insights
188.8.131.52 Breakdown of Primary Interviews
2.3 Market Size Estimation
2.3.1 Supply Side Analysis
2.4 Data Triangulation
2.5 Research Assumptions
3 Executive Summary (Page No. - 29)
Reasons for Buying this Report
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- It helps in understanding the key product segments and their future
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