Abhay Rajput's blog : Thermoformed Plastics Market 2023 | Size, Growth, Trends, Demand and Analysis 2028

IMARC Group, a leading market research company, has released a report titled “Thermoformed Plastics Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028“. According to the report, The global thermoformed plastics market size reached US$ 42.2 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 59.2 Billion by 2028, exhibiting a growth rate (CAGR) of 5.5% during 2023-2028.

Thermoformed plastics are materials made from the thermoforming process wherein plastic sheets are heated and converted into an elastic form that can be molded into the desired shape. They can also be processed through plug assist forming, thick and thin gauge thermoforming, and vacuum snapback techniques. As a result, they are used in the manufacturing of automotive dashboards, interior panels, seats, air ducts, bumpers, light fixtures, industrial equipment, medical devices, and electrical panels.

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Thermoformed Plastics Market Trends and Drivers:

The increasing utilization of effective packaging solutions in various end use industries represents one of the key factors driving the market. Moreover, thermoformed plastics are widely used in the retail processing of clamshell packaging, packaging inserts, packaging blisters, and shipping trays. Apart from this, as thermoformed plastics act as a barrier against bacteria, moisture, and pungent odor, they are employed in the food and beverage (F&B) industry for sealing products and increasing their shelf life. Furthermore, thermoformed plastics are gaining traction in the construction sector for manufacturing concrete, flooring, and furniture on account of their rigidity, leakage resistance, and long-lasting properties.

Report Segmentation:

The report has segmented the market into the following categories:

Breakup by Product:

Polymethyl Methacrylate (PMMA)
Bio-degradable Polymers
Polyethylene (PE)
Acrylonitrile Butadiene Styrene (ABS)
Poly Vinyl Chloride (PVC)
High Impact Polystyrene (HIPS)
Polystyrene (PS)
Polypropylene (PP)

Breakup by Process:

Plug Assist Forming
Thick Gauge Thermoforming
Thin Gauge Thermoforming
Vacuum Snapback

Breakup by Application:

Healthcare and Medical
Food Packaging
Electrical and Electronics
Automotive Packaging
Construction
Consumer Goods and Appliances
Others

Breakup by Region:

North America (United States, Canada)
Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
Latin America (Brazil, Mexico, Others)
Middle East and Africa

Competitive Landscape with Key Player:

Amcor plc
Anchor Packaging LLC
Berry Global Inc
Brentwood Industries Inc
D&W Fine Pack
Dart Container Corporation
Fabri-Kal Corp. (Two Mitts Inc.)
Genpak LLC (C-P Flexible Packaging)
Greiner Packaging GmbH
Pactiv LLC
Placon Corporation
Sabert Corporation
Sonoco Products Company

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