openPR Logo
Press release

5 Key Insights on US$ 60 Bn Opportunity in Global Thermoformed Plastics Market: Ken Research

10-27-2022 02:21 AM CET | Advertising, Media Consulting, Marketing Research

Press release from: Ken Research Pvt Ltd

5 Key Insights on US$ 60 Bn Opportunity in Global Thermoformed

Buy Now

Driven by the rising consumption of thermoformed plastics material in healthcare and packaging industries, Global Thermoformed Plastics Market is forecasted to Cross US$60 Bn by 2028 says Ken Research Study.

Thermoforming is a plastic manufacturing process that applies a vacuum or pressure force to stretch a sheet of heated thermoplastic material over an engineered mold to create a 3-dimensional shape or part. After forming, the shaped part is trimmed and finished to a specification to meet an end user's requirements. The process and thermoplastic materials are extremely versatile and can be utilized to manufacture parts for a wide range of applications.

 "Ken Research shares 3 key insights on this high-opportunity market from its latest research study"

1. Increasing Consumption of Thermoformed Plastics in the Packaging Industry provides an Opportunity for the Market Growth

According to Ken Research Analysis, the Global Thermoformed Plastics Market was valued at ~US$ 30 billion in 2017. It is estimated to be ~US$ 40 billion in 2022 and is forecasted to reach a market size of ~US$ 60 billion, growing at a CAGR of ~7% by 2028, due to increasing usage of thermoformed plastics in healthcare and packaging industries.

Thermoform packaging is known to be a high-quality packaging solution for any kind of food and healthcare product. Packaging of some kind of food products requires the incorporation of functional and innovative design while providing good moisture barriers, physical stress, temperature, contamination protection, and tamper resistance. The thermoforming process enhances the properties of plastic materials and makes it suitable to be recycled again. Thermoform packaging not only protects the products but also extend the shelf-life, owing to its durability resilience nature.

The players in the food industry are increasingly looking for packaging solutions that enable them to reduce the carbon footprint. As thermoformed packaging are increasingly being manufactured using 100% recyclable products, the demand is expected to grow during the forecast period. The rising trend for the development of sustainable packaging is expected to propel the players in the market to come up with product developments that enable them to meet the increasing demand.

In October 2019, Charpak Ltd., a manufacturer of thermoformed packaging products, designed and launched a new thermoformed packaging tub that is 100% recyclable, tamper-evident, that can be used for ambient, chilled or frozen sectors, food, and non-food products.
According to SouthPack, a custom manufacturer of packaging, stated that thermoformed packaging cost up to 15% less than packaging made from plastic injection molding.

Request For Sample Report @https://www.kenresearch.com/sample-report.php?Frmdetails=NTk2MDU2

2. Surging Demand for Thermoformed Plastics in Healthcare Industry is Fuelling the Market Globally

The consumption of plastic packaging in the healthcare industry is expected to rise due to government funding for healthcare and pharmaceutical centers. Increasing drug production and government initiatives toward the development of healthcare and pharmaceutical sectors generate significant growth opportunities for the thermoform plastic healthcare packaging market in the coming years.

For instance, In December 2021, the Guangzhou Sino-Israel Bio-industry Investment Fund (GIBF) announced fund of US$ 300 million for joint drug development ventures. The drug development process includes the equipment and procedures that requires the use of thermoformed plastics.

Furthermore, plastic healthcare packaging formats are preferred by consumers, as these not fragile and are easy to handle compared to alternative packaging solutions available in the market. Manufacturers prefer plastic packaging for healthcare owing to anti-microbial properties and reduced risk of breakage.

Moreover, the increasing demand for surgical masks during the pandemic has created a golden opportunity for the plastic packaging industry.

According to United Nations International Children's Emergency Fund (UNICEF), in 2020, about 301.3 million surgical masks and 22.2 million N95 ventilator kits were distributed in 127 countries. The steady increase in manufacturing, production, and distribution activities required use of thermoformed plastics, which helped in the growth of the market.

3. Volatile Raw Material Prices for Thermoformed Plastics is the Major Challenge Faced by The Thermoformed Plastics Market

Crude petroleum is an important raw material used in the production of organic chemicals, which are in turn used as inputs into the production of more-processed goods, such as plastics products. Major Asian petrochemical manufacturers are under immense pressure as geopolitical turmoil in the Middle East is severely affecting the supply of crude oil.

In April 2019, the attacks on Saudi Aramco's oil processing facilities at Abqaiq and Khurais on resulted in an immediate price spike of 10% to 12%. The plastic industry faces the effects of the continuous rise and dips in the prices of crude oil.

The most basic ingredients for the manufacturing of plastic, such as ethylene and propylene, are obtained from crude oils. The monomers are then converted into polymers such as polyethylene, polypropylene, and other materials. The supply-demand shifts cause price volatility in plastics globally. As a result, changes in crude oil prices significantly impact the cost of thermoformed polymers.

Request For Sample Report @https://www.kenresearch.com/sample-report.php?Frmdetails=NTk2MDU2

Key Topics Covered in the Report

Snapshot of Global Thermoformed Plastics Market
Industry Value Chain and Ecosystem Analysis
Market size and Segmentation of the Global Thermoformed Plastics Market
Historic Growth of Overall Global Thermoformed Plastics Market and Segments
Competition Scenario of the Market and Key Developments of Competitors
Porter's 5 Forces Analysis of Global Thermoformed Plastics Industry
Overview, Product Offerings, Strengths, & Weaknesses of Key Competitors
Covid-19 Impact on the Overall Global Thermoformed Plastics Market
Future Market Forecast and Growth Rates of the Total Global Thermoformed Plastics Market and Segments
Market Size of Application / End User Segments with Historical CAGR and Future Forecasts
Analysis of Global Thermoformed Plastics Market
Major Production/Supply and Consumption/Demand Hubs within Each Region
Major Country-wise Historic and Future Market Growth Rates of the Total Market and Segments
Overview of Notable Emerging Competitor Companies within Each Region

Notable Emerging Companies Mentioned in the Report

Vaquform
Janco, Inc
Penz Products, Inc.,
Hagans Plastics Co., Inc.
Engineered Plastic Products, Inc.
Woodstock Plastics Co., Inc.

Key Target Audience - Organizations and Entities Who Can Benefit by Subscribing This Report

Thermoformed Plastics Market
Thermoformed Plastics Manufacturers
Thermoformed Plastics Suppliers
Polymethyl Methacrylate (PMMA) Thermoformed Plastics Suppliers
Bio-degradable polymers Thermoformed Plastics Suppliers
Polyethylene (PE) Thermoformed Plastics Suppliers
Acrylonitrile Butadiene Styrene (ABS) Thermoformed Plastics Suppliers
Poly Vinyl Chloride (PVC) Thermoformed Plastics Suppliers
High Impact Polystyrene (HIPS) Thermoformed Plastics Suppliers
Polystyrene (PS) Thermoformed Plastics Suppliers
Polypropylene (PP) Thermoformed Plastics Suppliers
Thermoformed Plastics Distributors
Emerging and Startup Thermoformed Plastics Companies in the Market
Different Types of Thermoformed Plastics Institutes
Government Departments of Polymers
Ministries and Departments of Agriculture
Ministries and Departments of Packaging
Ministries and Departments of Healthcare
Importers and Distributors of Thermoformed Plastics
Environmental Regulatory Authorities

Period Captured in the Report

Historical Period: 2017-2021
Forecast Period: 2022-2028F

For More Information on the Research Report, refer to below links: -

https://www.kenresearch.com/business-research/global-thermoformed-plastics-market-outlook-2028/

Follow Us

https://www.linkedin.com/company/2775089/admin/

https://www.instagram.com/kenresearch/

https://www.facebook.com/kenresearch

https://twitter.com/KenResearch

https://www.youtube.com/c/KenResearchKen

Contact Us: -

Ken Research

Support@kenresearch.com

+91-9015378249

Unit 14, Tower B3, Spaze I Tech Business Park, Sohna Road, sector 49 Gurgaon, Haryana - 122001, India

Ken Research is a Market Research and Consulting Firm, based out of India, Indonesia and UAE. Since 2011, we have been assisting clients globally with our Syndicate and Bespoke Market Research and Advisory Services.

This release was published on openPR.

Permanent link to this press release:

Copy
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.

You can edit or delete your press release 5 Key Insights on US$ 60 Bn Opportunity in Global Thermoformed Plastics Market: Ken Research here

News-ID: 2778926 • Views: 496

More Releases from Ken Research Pvt Ltd

The Australia Crop Protection Industry has grown steadily in the last five years …
The Crop Protection Market in Australia saw a steady growth in the period of 2017-2021, and the market is expected to grow at a robust CAGR in the forecasted period. Australia Crop Protection Market Overview: The Australia Crop Protection Market is currently at the growth stage owing to the technological innovations in the industry, pest pressures, rising use of bio-based crop solutions, rising demand for bio-pesticides and the adoption of herbicide-resistant crops
Market Research Subscription Services Encourage You in All Your Requirements: Ke …
During the present trend, the market space is very vivacious in nature. In an endeavor to cope with such continual deviations, market contributors are actively in inevitability of research and consulting studies. The Ken Research as an originator of the market intelligence and wide-fluctuating aggregator, equity and region research reports dispense the business intellect and effective consultative crosswise 300+ vertical underscoring the provocative technologies, emerging business models along the routine
The Emerging Trends of Human Platelet Lysate Industry: Ken Research
The Global Human platelet lysate Market has grown at a significant growth rate in the past few decades. The report insights into the market shares, revenues, and trends. It discusses the data assessments and specifics of the market size and the industry. The report signifies the trending branding assessments of the top grooming companies in the world. The report gives a bright light to the regional and volumetric analysis of
Global Audiology Devices Market Insights, Forecast to 2027: Ken Research
The electronic devices that are utilized by audiologists to diagnose and treat loss of hearing or hearing impairment are called audiology devices. These devices are also extensively used for monitoring or studying hearing. These devices are also referred to as hearing aid. According to the research report, 'Audiology Devices Market: Current Analysis and Forecast (2021-2027)' states that Medtronic, MedRx, Siemens AG, Cochlear Limited, Maico Audiological Services, Natus Medical Incorporated, GN Resound

All 5 Releases


More Releases for Thermoform

Thermoform Packaging Market 2022 | Detailed Report
According to Market Study Report, Thermoform Packaging Market provides a comprehensive analysis of the Thermoform Packaging Market segments, including their dynamics, size, growth, regulatory requirements, competitive landscape, and emerging opportunities of global industry. An exclusive data offered in this report is collected by research and industry experts team. Download FREE Sample Report @ https://www.reportsnreports.com/contacts/requestsample.aspx?name=5384435 The report provides a comprehensive analysis of company profiles listed below: - WestRock Company - Amcor Limited - Tray Pack
Global Thermoform Packaging Market Size – Forecasts to 2026
The findings reviewed by GME stated that the Global Thermoform Packaging Market will expand with a CAGR value of 5.2 percent from 2021 to 2026. The increasing demand for pre-packaged food and the growing incidences of chronic diseases and the rising geriatric population has increased the demand for thermoform packaging in the food and beverage and pharmaceutical industries. Browse 159 Market Data Tables and 119 Figures spread through 189 Pages and
Thermoform Packaging Market worth 44.55 Billion USD by 2021
The report "Thermoform Packaging Market by Material (Plastic, Aluminum, Paper & Paperboard), Heat Seal Coating (Water-Based, Solvent-Based, Hot Melt-Based), Type (Blister Packaging, Clamshell Packaging, Skin Packaging), End-Use Industry - Global Forecast to 2021", The Thermoform Packaging Market size is projected to grow from USD 32.26 Billion in 2015 to reach USD 44.55 Billion by 2021, at a CAGR of 5.61% Browse 192 market data tables with 62 figures spread through 236
Thermoform Packaging Market
Global Thermoforming Packaging Market Information by Type (Blister Packaging, Skin Packaging, Clamshell Packaging, Others), by Application (Food & Beverage, Pharmaceuticals, Electronics, Personal Care and others), by Material (Plastic, Paper Aluminum and others) and by Region – Forecast to 2022 Market Highlights The increasing demand from food & beverage and pharmaceuticals industries globally drives the market. The large consumer base, increasing manufacturing activities, cost-effective, environment friendly and increase in spending by consumers for
Global Thermoform Packaging market segmented Research Report 2017
The study on the global market for Thermoform Packaging has evaluated the historical and current performance of this market, especially highlighting the key trends and growth opportunities. According to the study, the rising demand for this product is driving the global market for significantly. The expansion in the various related industry is also expected to reflect positively on the sales of product over the next few years. Moreover, the global
Thermoform Packaging Market - The Changing Face of Packaging
Global Thermoform Packaging Market: Snapshot The growing emphasis on quality of packaging has lent a significant impetus to the global thermoform packaging market. To make an effective campaign for products and to gain a competitive edge, several manufacturers are looking at innovative and attractive packaging solutions. These efforts have increased the uptake of thermoform packaging in sectors such as food, beverages, pharmaceutical, electronics, and semiconductors. Against this backdrop, the global thermoform