Thermoform Packaging market Projected To Grow At Cagr Of 5.2% Through 2021 | Amcor Limited, Bemis Company, Inc., WestRock Company,

Thermoforming is the process of molding material (plastic, aluminum, wood, and rubber) into desired shape to create packaging containers. It is a cost effective process, which allows molding of large size containers from sheets. Moreover, thermoform packaging can be customized into various shapes and sizes. Printing can be done after molding to make products aesthetically appealing.

Cost effectiveness and ability for mass manufacturing make it a popular choice among the industries such as food and pharmaceutical. However, environmental repercussions of using plastic packaging is major challenge for growth of the market. Moreover, thermoformed material cannot bear excess weight and cannot be used for the packaging of heavy materials.

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Thermoform Packaging Market Taxonomy

On the basis of process, thermoform packaging market is segmented into:
Vacuum Forming
Pressure Forming
Plug Assist Forming
Cavity Forming
Twin Sheet Forming

On the basis of heat seal coating, thermoform packaging market is segmented into:
Water Based
Solvent Based
Hot Melt Based

On the basis of material, thermoform packaging market is segmented into:
Plastic
Polyethylene Terephthalate (PET)
Polyethylene (PE)
Poly Vinyl Chloride (PVC)
Acrylonitrile Butadiene Styrene (ABS)
Polypropylene (PP)
Polystyrene (PS)
Others

Skin packaging segment is gaining significant traction due to its properties such as high durability, toughness, improved aesthetics, and lower material use over conventional blister packaging. Plastic is widely used for manufacturing of thermoform packaging due to its wide availability and cheap material cost. Clamshell packaging is used for consumer goods. They are usually transparent to ensure that the consumer can see the contents of the packaging. Whereas, blister cards are used in pharmaceutical industry and are manufactured by heat sealing a sheet foil.

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For instance, in Amcor Limited acquired the assets of Sonoco’s plastic blow molding business in North America for $280 million. The Sonoco’s acquisition includes business of flexible packaging, thermoforming rigid plastics and temperature-assurance packaging.

In June 2019, Amcor Limited acquired Bemis Company, Inc. for a value of US$ 6.8 billion. Amcor shareholders will now own 71% and Bemis shareholders 29% of the new combined company. This acquisition has helped Amcor Limited to strengthen its position in global market.

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