Press release
Thermoforming Plastic Market 2024: Demand, Growth Challenges, Industry Analysis And Forecasts To 2033
Thermoforming Plastic Market
The Business Research Company offers in-depth market insights through Thermoforming Plastic Global Market Report 2024, providing businesses with a competitive advantage by thoroughly analyzing the market structure, including estimates for numerous segments and sub-segments.
Market Size And Growth Forecast:
The thermoforming plastic market size has grown strongly in recent years. It will grow from $48.76 billion in 2023 to $52.13 billion in 2024 at a compound annual growth rate (CAGR) of 6.9%. The growth in the historic period can be attributed to the increase in demand for consumer durables, a rise in concerns about hygiene and product safety, a rise in the use of thermoformed plastics in the medical sector and the covid-19 pandemic..
The thermoforming plastic market size is expected to see strong growth in the next few years. It will grow to $70.85 billion in 2028 at a compound annual growth rate (CAGR) of 8.0%. The growth in the forecast period can be attributed to the growing demand for packaged food, rising online retail sales, rising urbanization and rising disposable income. Major trends in the forecast period include focus on sustainable plastic packaging, modified atmosphere packaging (map), 3d printing technology, technological advancements, strategic partnerships and focus on increasing investments..
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Market Segmentation:
The thermoforming plastic market covered in this report is segmented -
1) By Thermoforming Type: Vacuum Forming, Pressure Forming, Mechanical Forming
2) By Plastic Type: Polyethylene, Polypropylene, Polystyrene, Polyvinyl Chloride, Acrylonitrile Butadiene Styrene, Bio-Degradable Polymers, Other Plastic Types
3) By Application: Healthcare And Medical, Food Packaging, Electrical And Electronics, Automotive Packaging, Construction, Consumer Goods And Appliances, Other Applications
Major Driver - Rising Demand For Consumer Durables Fuels Growth In The Transforming Plastic Market
The increasing demand for consumer durables is expected to propel the growth of the transforming plastic market going forward. Consumer durables are consumer goods that have a long life span (over three years) and are used over time. An increase in demand for consumer durables will increase the demand for thermoforming plastic as most of the consumer durables are manufactured by using transforming plastic. For instance, according to the Indian Brand Equity Foundation, an Indian government export promotion agency report, the consumer durables industry is expected to reach USD34 billion by 2025. Therefore, the increasing demand for consumer durables will drive the growth of the thermoforming plastic market.
Competitive Landscape:
Major companies operating in the thermoforming plastic market report are Amcor plc, Pactiv Evergreen Inc, Berry Global Inc., Sonoco Products Company, Huhtamaki Global, Dart Container Corporation, Sabert Corp, D&W Fine Pack, Graham Packaging Company, Genpak LLC, S.D. International Pvt. Ltd, Europack Machines Pvt. Ltd, Zibo Tianheng Nano New Materials Technology Co. Ltd., Shandong Top Leader Plastic Packing Co Ltd, Indu Thermoformers Pvt. Ltd, Dongguan DiTai Plastic Products CO. Ltd, Pulixin Packaging Materials, Plas Tech Ltd, Thermoform Ltd, Daventry Thermoforming Ltd, DS Smith, COEXPAN, Kiefel GmbH, Piovan Group, AD Plastik Group, FORTY, Ina Plastics, JV RosanPak Ltd, Silgan Plastics, Placon Corporation, Fabri-Kal Corp, Anchor Packaging, Sealed Air, Kruger Inc., Mondi Group, Matritech S.A.C, ACEBRI, SABIC Innovative Plastics, Takween Advanced Industries Co, Al Wasl Pack, Mapal Plastics, Lovell Industries, Sasol Polymers, Berry Astrapak, Powerking Plastics
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Top Trend - Transforming Plastic Market Embraces Technological Advancements For Enhanced Solutions
Technological advancements are the key trends gaining popularity in the transforming plastic market. Major companies operating in the transforming plastic sector are focused on developing new technological solutions to strengthen their position. For instance, in April 2021, GEA, a Germany-based food company, launched PowerPak SKIN.50. based on the high-capacity SKIN thermoforming packaging technology. This provides high-capacity packing of up to 100mm high and protrudes up to 50mm above the packing tray level. It can also perform vacuum and modified atmosphere packaging (MAP) packaging on the same machine.
The Table Of Content For The Market Report Include:
1. Executive Summary
2. Thermoforming Plastic Market Characteristics
3. Thermoforming Plastic Market Trends And Strategies
4. Thermoforming Plastic Market - Macro Economic Scenario
5. Thermoforming Plastic Market Size And Growth
…..
27. Thermoforming Plastic Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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The Business Research Company (www.thebusinessresearchcompany.com) is a market intelligence firm that pioneers in company, market, and consumer research. Located globally, TBRC's consultants specialize in various industries including manufacturing, healthcare, financial services, chemicals, and technology. The firm has offices located in the UK, the US, and India, along with a network of proficient researchers in 28 countries.
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