The global thermoformed plastics market is projected to register revenue by value USD 17.30 billion by 2026. The thermoforming process is fabricating plastic sheets, then heating them to transform them into a flexible form that can be molded into the required shape, which varies depending on the end-use application. The heavy gauge method allows thermoformed polymers to be utilized as a metal alternative in applications such as transportation, industrial equipment, aircraft, kiosks, and medical devices. Thermoformed plastics are utilized in the medical business to make diagnostic equipment, accessories, and medical plants. A industrial method for transforming a two-dimensional thermal polymer into a three-dimensional shape is known as thermoforming.
Some of the primary driving factors in the thermoformed plastic products market include rising disposable income, rising demand for ready-to-eat food, and rising demand for food and healthcare packaging. Increased sales of canned and packaged food items are driving up demand for thermoformed plastic goods in the food sector. People's changing lifestyles, increased urbanization, and demanding living schedules are driving up demand for canned and packaged food goods. Further, increasing production of advanced and innovative thermoformed plastics by major companies across the world is expected to boost growth of the target industry in the near future.
Furthermore, due to increased demand from various sectors including automotive, electrical and electronics, construction, and consumer goods and appliances, thermoformed plastics usage is rapidly increasing. As a result, a growth in thermoformed plastics' end-use applications is boosting the market share of thermoformed plastics. Dart Container Corporation, Amcor plc, DISPLAY PACK, Anchor Packaging Inc. D&W Fine Pack, Berry Global Inc. Genpak, LLC, Brentwood Industries, Inc. Huhtamaki Global, Fabri-Kal, and Greiner Packaging are among major players focusing on the research and development of advanced products.
The leading companies in the worldwide thermoformed plastics market are Brentwood Industries, Inc. Amcor plc, Genpak, LLC, SILGAN HOLDINGS INC. Anchor Packaging Inc. Greiner Packaging, Berry Global Inc. Huhtamaki Global, Pactiv LLC, D&W Fine Pack. Dart Container Corporation, DISPLAY PACK. Sonoco Products Company, Fabri-Kal, Spencer Industries Inc. Penda, WINPAK LTD. Placon. Silgan Plastics, Sabert Corporation. They are also investing in and purchasing small firms in order to boost their profitability. Due to the industry's fierce rivalry, market concentration will be significant as significant enterprises with big market shares focus on increasing their customer base across international markets. Major competitors in the target market are utilizing a range of business tactics to obtain a superior position in the global market, including creative solutions, partnerships, mergers and acquisitions, strategic alliances, and substantial investments.
Thermoformed Plastics Market Scope
|Forecast Unit||Value (USD)|
|Revenue forecast in 2028||USD 17.30 billion|
|Growth Rate||CAGR of 5.1% during 2021-2028|
|Segment Covered||Product, Process, Application, Regions|
|Regions Covered||North America, Europe, Asia Pacific, South America, Middle East & Africa|
|Key Players Profiled||Brentwood Industries, Inc. Amcor plc, Genpak, LLC, SILGAN HOLDINGS INC. Anchor Packaging Inc. Greiner Packaging, Berry Global Inc. Huhtamaki Global, Pactiv LLC, D&W Fine Pack. Dart Container Corporation, DISPLAY PACK. Sonoco Products Company, Fabri-Kal, Spencer Industries Inc. Penda, WINPAK LTD. Placon.|
Key Segments of the Global Thermoformed Plastics Market
Product Overview, 2016-2026 (USD Billion)
- 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 Overview, 2016-2026 (USD Billion)
- Plug Assist Forming
- Thick Gauge thermoforming
- Thin Gauge Thermoforming
- Vacuum Snapback
Application Overview, 2016-2026 (USD Billion)
- Healthcare & Medical
- Food Packaging
- Electrical & Electronics
- Automotive Packaging
- Consumer Goods & Appliances
Regional Overview, 2016-2026 (USD Billion)
- North America
- United Kingdom
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
Reasons for the study
- Increasing demand for thermoformed plastics from the healthcare and pharmaceutical packaging sectors
- Growing demand from food packaging industry
- Increased demand for thermoformed plastics across various end-use industries
What does the report include?
- The study on the global Thermoformed Plastics market includes qualitative insights such as drivers, restraints, challenges and opportunities
- Additionally, the market has been evaluated using the Porter’s five forces analysis
- The study covers qualitative and quantitative analysis of the market segmented on the basis of product, and usage area. Moreover, the study on Thermoformed Plastics market provides similar information for the key geographies.
- Actual market sizes and forecasts have been provided for all the above-mentioned segments
- The study includes the profiles of key players operating in the market with a significant global and/or regional presence
Who should buy this report?
- The report on the global Thermoformed Plastics market is suitable for all the players across the value chain including component and raw material providers, disinfectant manufacturers, distributors, and other intermediaries
- Venture capitalists and investors looking for more information on the future outlook of the global Thermoformed Plastics market
- Consultants, analysts, researchers, and academicians looking for insights shaping the global Thermoformed Plastics market
The global thermoformed plastics industry is fragmented, with the top competitors controlling just a small portion of the industry. Major players in the global industry are Brentwood Industries, Inc. Amcor plc, Genpak, LLC, SILGAN HOLDINGS INC. Anchor Packaging Inc. Greiner Packaging, Berry Global Inc. Huhtamaki Global, Pactiv LLC, D&W Fine Pack. Dart Container Corporation, DISPLAY PACK. Sonoco Products Company, Fabri-Kal, Spencer Industries Inc. Penda, WINPAK LTD. Placon. Silgan Plastics, Sabert Corporation among others. Mergers and acquisitions, significant investments, partnerships, new product launches, and capacity growth are all essential methods used by big multinational firms to increase their market position. The top companies in the market have a big global footprint and a diverse product portfolio to meet a wide range of customer demands. Due to rising demand from end-user industries, emerging regions are likely to become significant markets for thermoformed plastics throughout the projected period.
The worldwide sector is growing due to increased demand for thermoformed plastics in both developed and developing nations. The global market is predicted to grow in the near future, owing to growth in the food, healthcare, pharmaceutical, and automotive industries. Another factor fueling the target market's growth is rising consumption in Asian subcontinent markets. On the other hand, one of the key factors impeding the target market's growth is thermoformed plastics' inability to withstand heavy packaging. Nonetheless, global industrial suppliers may look forward to exciting development potential in emerging markets. The methods of the top players are likely to generate competitive demand. Furthermore, as the end use sectors develop, global demand is being boosted by a growing client base for these items, particularly in developed nations.
The global thermoformed plastics market is segmented into product, process, and applications. The thermoformed plastics industry by product includes High Impact Polystyrene (HIPS), Polymethyl Methacrylate (PMMA), Polypropylene (PP), Bio-degradable polymers, Polystyrene (PS), Polyethylene (PE), Acrylonitrile Butadiene Styrene (ABS), and Poly Vinyl Chloride (PVC).
Based on application the global industry is categorized into plug assist forming, thick gauge thermoforming, thin gauge thermoforming, vacuum snapback. On the basis of applications the global industry is segregated into food packaging, healthcare & medical, electrical & electronics, automotive packaging, construction, and consumer goods & appliances.
Geographically, North America led the worldwide thermoformed plastics market. In the United States and other North American countries, thermoformed plastics are becoming increasingly frequently employed in a variety of end-use industries, including food packaging, healthcare, and pharmaceuticals. One of the key elements driving thermoformed plastics growth in developing nations is the rapidly expanding demand for the target product among growing economies throughout the world. Furthermore, throughout the projection period, Asia Pacific is predicted to have considerable expansion in the target industry. The development of prominent organizations in the area, as well as technology developments among Asian countries, notably in China, Japan, and India, are credited with the increase.