Thermoformed Plastic Trends and Forecast
The future of the global thermoformed plastic market looks promising with opportunities in the healthcare & medical, food packaging, electrical & electronic, automotive packaging, construction, and consumer good & appliance markets. The global thermoformed plastic market is expected to reach an estimated $65.3 billion by 2030 with a CAGR of 5.4% from 2024 to 2030. The major drivers for this market are rising demand in the pharmaceutical and healthcare industries for packaging, growing demand in the automotive sector for thermoformed plastics, as well as, expanding inclination towards environmentally friendly and sustainable packaging.
A more than 150-page report is developed to help in your business decisions. Sample figures with some insights are shown below.
Thermoformed Plastic by Segment
The study includes a forecast for the global thermoformed plastic by product, process, application, and region.
Thermoformed Plastic Market by Product [Shipment Analysis by Value from 2018 to 2030]:
• Polymethyl Methacrylate (PMMA)
• Bio-degradable Polymers
• Polyethylene (PE)
• Acrylonitrile Butadiene Styrene (ABS)
• Poly Vinyl Chloride (PVC)
• High Impact Polystyrene (HIPS)
• Polystyrene (PS)
• Polypropylene (PP)
Thermoformed Plastic Market by Process [Shipment Analysis by Value from 2018 to 2030]:
• Plug Assist Forming
• Thick Gauge Thermoforming
• Thin Gauge Thermoforming
• Vacuum Snapback
Thermoformed Plastic Market by Application [Shipment Analysis by Value from 2018 to 2030]:
• Healthcare & Medical
• Food Packaging
• Electrical & Electronics
• Automotive Packaging
• Construction
• Consumer Goods & Appliances
Thermoformed Plastic Market by Region [Shipment Analysis by Value from 2018 to 2030]:
• North America
• Europe
• Asia Pacific
• The Rest of the World
List of Thermoformed Plastic Companies
Companies in the market compete on the basis of product quality offered. Major players in this market focus on expanding their manufacturing facilities, R&D investments, infrastructural development, and leverage integration opportunities across the value chain. With these strategies thermoformed plastic companies cater increasing demand, ensure competitive effectiveness, develop innovative products & technologies, reduce production costs, and expand their customer base. Some of the thermoformed plastic companies profiled in this report include-
• Pactiv
• Genpak
• Sonoco Products
• CM Packaging
• Placon
• Anchor Packaging
• Brentwood Industries
• Greiner Packaging
• Dongguan Ditai Plastic Products
• Palram Americas
Thermoformed Plastic Market Insights
Lucintel forecasts that thin-gauge thermoformed plastic will remain the largest segment over the forecast period.
Within this market, food packaging will remain the largest segment.
APAC is expected to witness highest growth over the forecast period due to packaging industry innovations and rapid industrialization, as well as, increasing number of thermoformed plastic product producers and suppliers in this area.
Features of the Global Thermoformed Plastic Market
Market Size Estimates: Thermoformed plastic market size estimation in terms of value ($B).
Trend and Forecast Analysis: Market trends (2018 to 2023) and forecast (2024 to 2030) by various segments and regions.
Segmentation Analysis: Thermoformed plastic market size by product, process, application, and region in terms of value ($B).
Regional Analysis: Thermoformed plastic market breakdown by North America, Europe, Asia Pacific, and Rest of the World.
Growth Opportunities: Analysis of growth opportunities in different product, process, application, and regions for the thermoformed plastic market.
Strategic Analysis: This includes M&A, new product development, and competitive landscape of the thermoformed plastic market.
Analysis of competitive intensity of the industry based on Porter’s Five Forces model.
FAQ
Q1. What is the thermoformed plastic market size?
Answer: The global thermoformed plastic market is expected to reach an estimated $65.3 billion by 2030.
Q2. What is the growth forecast for thermoformed plastic market?
Answer: The global thermoformed plastic market is expected to grow with a CAGR of 5.4% from 2024 to 2030.
Q3. What are the major drivers influencing the growth of the thermoformed plastic market?
Answer: The major drivers for this market are rising demand in the pharmaceutical and healthcare industries for packaging, growing demand in the automotive sector for thermoformed plastics, as well as, expanding inclination towards environmentally friendly and sustainable packaging.
Q4. What are the major segments for thermoformed plastic market?
Answer: The future of the global thermoformed plastic market looks promising with opportunities in the healthcare & medical, food packaging, electrical & electronic, automotive packaging, construction, and consumer good & appliance markets.
Q5. Who are the key thermoformed plastic market companies?
Answer: Some of the key thermoformed plastic companies are as follows:
• Pactiv
• Genpak
• Sonoco Products
• CM Packaging
• Placon
• Anchor Packaging
• Brentwood Industries
• Greiner Packaging
• Dongguan Ditai Plastic Products
• Palram Americas
Q6. Which thermoformed plastic market segment will be the largest in future?
Answer: Lucintel forecasts that thin-gauge thermoformed plastic will remain the largest segment over the forecast period.
Q7. In thermoformed plastic market, which region is expected to be the largest in next 5 years?
Answer: APAC is expected to witness highest growth over the forecast period due to packaging industry innovations and rapid industrialization, as well as, increasing number of thermoformed plastic product producers and suppliers in this area.
Q.8 Do we receive customization in this report?
Answer: Yes, Lucintel provides 10% customization without any additional cost.
This report answers following 11 key questions:
Q.1. What are some of the most promising, high-growth opportunities for the thermoformed plastic market by product (polymethyl methacrylate (PMMA), bio-degradable polymers, polyethylene (PE), acrylonitrile butadiene styrene (ABS), poly vinyl chloride (PVC), high impact polystyrene (HIPS), polystyrene (PS), and polypropylene (PP)), process (plug assist forming, thick gauge thermoforming, thin gauge thermoforming, and vacuum snapback), application (healthcare & medical, food packaging, electrical & electronics, automotive packaging, construction, and consumer goods & appliances), and region (North America, Europe, Asia Pacific, and the Rest of the World)?
Q.2. Which segments will grow at a faster pace and why?
Q.3. Which region will grow at a faster pace and why?
Q.4. What are the key factors affecting market dynamics? What are the key challenges and business risks in this market?
Q.5. What are the business risks and competitive threats in this market?
Q.6. What are the emerging trends in this market and the reasons behind them?
Q.7. What are some of the changing demands of customers in the market?
Q.8. What are the new developments in the market? Which companies are leading these developments?
Q.9. Who are the major players in this market? What strategic initiatives are key players pursuing for business growth?
Q.10. What are some of the competing products in this market and how big of a threat do they pose for loss of market share by material or product substitution?
Q.11. What M&A activity has occurred in the last 5 years and what has its impact been on the industry?
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