December 24, 2018: Adroit Market Research published, “US Thermoformed Plastic Packaging Market Size 2017 By Material Type (Polypropylene (PP), Polyethylene (PE), Acrylonitrile Butadiene Styrene (ABS), Polyvinyl Chloride (PVC), Polyethylene Terephthalate (PET), Polystyrene (PS), Others), By Application (Food & Beverage, Healthcare, Consumer Electronics, Living Goods, Others) and Forecast 2018 to 2025”. The US thermoformed plastic packaging industry analysis covers various parameters that will have an impact on the future dynamics including drivers that support the growth of the market as well as the challenges and restraints of that hold back the growth. Additionally, the US thermoformed plastic packaging market study discusses the various untapped area of the industry that can provide the reader with opportunities to enter the market. The study also discusses a deep dive of the US thermoformed plastic packaging market share on the basis of various raw materials and application industries.
By 2025, the US thermoformed plastic packaging market revenue is estimated to reach USD 35.15 billion by virtue of increasing demand for eco-friendly and lightweight packaging in food & beverage and healthcare industry. Growing industry requirement for a low-cost alternative to plastic packaging followed by technological advancement in thermoforming machinery is expected to drive the US thermoformed plastic packaging industry over the projected period.
Product protection, increased product shelf life, and custom engineering associated with thermoforming materials are expected to encourage manufacturers to invest in thermoforming machinery in order to increase production. For instance, in 2018, SencorpWhite, a US based industrial machinery manufacturer, launched new thermoforming machine the Ultra 2 with more precision and 70% faster than previous designs.
Technological development in the field of packaging machinery is expected to increase penetration of thermoformed plastic packaging over the projected period. For instance, AMUT-COMI, a merger between COMI division and AMUT thermoforming division, launched thermoforming machinery, which caters to the food & beverage, medical, general packaging, floriculture, industrial, and technical packaging sectors.
The US consumer electronics industry generated revenue of more than USD 100 billion in 2017. Growing demand from electronic products is expected to promote thermoformed packaging manufacturers to increase their product portfolio to cater to industry requirement. The US thermoformed plastic packaging market for consumer electronics is expected to cross USD 7.5 billion by 2025.
Over the past few years, healthcare spending in the US has increased by 4.3% in 2016 as compared to 2015. Technological advancement and presence of well-developed manufacturers are expected to increase the market concentration of lightweight, easy-to-handle plastic packaging over the projected period. Excellent barrier against moisture and aesthetic value makes thermoformed plastic packaging best suitable for healthcare products. The U.S. thermoformed plastic packaging market demand for healthcare applications is expected to be 657.6 kilo tons by 2025.
Anchor Packaging Inc., Pactiv, Fabri-Kal, Sonoco Products Company, Placon, Genpak LLC, D&W Fine Pack, and Dart Container Corporation are some key manufacturers present within the U.S. thermoformed plastic packaging market.
Key segments of the US thermoformed plastic packaging market
Material Type Overview, 2015-2025 (Kilo Tons) (USD Million)
- Polypropylene (PP)
- Polyethylene (PE)
- Acrylonitrile butadiene styrene (ABS)
- Polyvinyl chloride (PVC)
- Polyethylene terephthalate (PET)
- Polystyrene (PS)
Application Overview, 2015-2025 (Kilo Tons) (USD Million)
- Food & beverage
- Consumer electronics
- Living goods