The global thermoformed plastics market is
expected to reach USD 16.28 billion by 2025, according to a new report by Grand
View Research, Inc. Globally, increasing demand for medical and pharmaceutical
products has been a major factor driving market growth. Also, growing
healthcare industry has led to rising demand for thermoformed plastics.
Rising demand in various
application sectors including food packaging, automotive, healthcare &
medical, electrical & electronics, construction, and consumer goods &
appliances owing to cost efficient nature is projected to propel the market
over the coming years. Rapid industrialization, infrastructural, and medical
activities is anticipated to augment the market growth from 2017 to 2025.
Thermoforming is a process where
a sheet of plastic is heated to make it flexible then fabricated and molded in
required shape to make it a usable product. Different methods used for
processing thermoformed plastics are thin gauge thermoforming, thick gauge
thermoforming, plug assist forming, and vacuum snapback.
Thin gauge thermoforming was
projected to be the largest segment over the forecast period with a market
share of 35% in terms of revenue in 2016. High labor cost and fluctuation raw
material prices are major factors which negatively impact the market growth.
Asia Pacific is the fastest growing segment with potential growth
opportunities. Rising demand from industries such as automotive, medical, food
packaging, construction, and pharmaceuticals in this region is expecting to
boost the market over the forecast period.
North America is expected to
observe the significant regional segment over the next eight years with an
estimated CAGR in terms of revenue of around 4.8% from 2017 to 2025. Increasing
manufacturers and suppliers of thin gauge thermoforming plastics in this region
such as Placon, Vitalo, Peninsula Plastics, among others is anticipated to spur
the market growth.
Browse full research report on Global
Thermoformed Plastics Market: http://www.grandviewresearch.com/industry-analysis/thermoformed-plastics-market
Further key findings from
the report suggest:
- The global thermoformed plastics demand exceeded 380 kilo tons in 2016 and is expected to grow at a CAGR of 4.2% from 2017 to 2025
- Polypropylene emerged as the largest product segment in 2016 and is estimated to generate revenue over USD 3.5 billion by 2025
- Polymethyl methacrylate (PMMA) is expected to be the fastest growing product segment owing to its high resistance nature towards UV light and extensive flexible properties
- Thin gauge thermoforming was projected to be the largest process segment and is anticipated to witness moderate growth over the next eight years
- Automotive sector was 36 kilo tons in 2016 and is expected to grow at a CAGR of 4.8% over the forecast period
- Food packaging was the significant application segment in 2016 and is projected to grow at a moderate rate owing to increasing consumption of ready to eat food is expected to boost this segment
- The food and medical packaging industry in Asia Pacific is projected to witness significant growth over the next eight years owing to various developments across major economies and increasing per capita income. The regional market in terms of revenue is expected to grow at a CAGR of 5.2% from 2017 to 2025.
- Key players including Pactiv LLC, D&W Fine Pack LLC, Genpak LLC, and Sonoco Plastics dominated the global thermoformed plastics market accounting for significant share of the total volume in 2016
Browse more reports of this category by Grand View Research: http://www.grandviewresearch.com/industry/plastics-polymers-and-resins
Grand View Research has segmented the global thermoformed
plastics market on the basis of product, process, application, and region:
Product Outlook (Volume, Kilo Tons; Revenue, USD Million,
2014 - 2025)
- Polymethyl Methacrylate (PMMA)
- Bio-degradable polymers
- Polyethylene (PE)
- Acrylonitrile Butadiene Styrene (ABS)
- Poly Vinyl Chloride (PVC)
- High Impact Polystyrene (HIPS)
- Polystyrene (PS)
- Polypropylene (PP)
Process Outlook (Volume, Kilo Tons; Revenue, USD Million,
2014 - 2025)
- Plug assist forming
- Thick gauge thermoforming
- Thin gauge thermoforming
- Vacuum snapback
Application Outlook (Volume, Kilo Tons; Revenue, USD
Million, 2014 - 2025)
- Healthcare & medical
- Food packaging
- Electrical & electronics
- Automotive
- Construction
- Consumer goods & appliances
- Others
Regional Outlook (Volume, Kilo Tons; Revenue, USD
Million, 2014 - 2025)
- North America
- U.S.
- Canada
- Mexico
- Europe
- UK
- Germany
- France
- Italy
- Asia Pacific
- China
- Japan
- India
- Central & South America
- Middle East & Africa
About Grand View Research
Grand View Research, Inc. is a
U.S. based market research and consulting company, registered in the State of
California and headquartered in San Francisco. The company provides
syndicated research reports, customized research reports, and consulting
services. To help clients make informed business decisions, we offer market
intelligence studies ensuring relevant and fact-based research across a range
of industries, from technology to chemicals, materials and healthcare.
For more information: www.grandviewresearch.com
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