Rising penetration of the organized and e-retail networks worldwide, is expected to drive the market growth during the forecast period.
The US thermoformed plastic packaging market size is projected to reach nearly USD 16.2 billion in 2028. 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, Sencorp White, 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.
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 2028.
Over the past few years, healthcare spending in the US has increased by 4.3% in 2018. 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.
However, the acoustic transparency of US thermoformed plastic packaging is anticipated to stifle its global market expansion. Furthermore, despite its great strength, US thermoformed plastic packaging is readily perforated and so is not commonly utilized in external wall and window applications. This restricts the worldwide market's expansion even further.
The study also assesses the demand using value chain analysis to highlight the different characteristics of the US thermoformed plastic packaging industry. Furthermore, the US thermoformed plastic packaging market report covers various qualitative aspects of the industry, such as market restraints, key industry drivers, and opportunities. In addition, the report offers a comprehensive analysis of the competition by company profiles and the competitiveness of local and global vendors.
Key Segments of the Global US thermoformed plastic packaging Market
Application Overview, 2018-2028 (USD Billion)
- Polybutylene Terephthalate
Regional Overview, 2018-2028 (USD Billion)
- Rest of Europe
- Rest of Asia-Pacific
Middle East and Africa
- South Africa
- Rest of Middle East and Africa
- Rest of South America