Persistence Market Research is released new forthcoming report on title "Thermoformed Plastic Products Market: Global Industry Analysis and Forecast to 2020".
New York, NY -- (SBWIRE) -- 12/08/2014 -- Thermoformed plastic products can be produced by heating a plastic sheet to a pliable forming temperature, shaping it as desirable, and trimmed to create a usable end-product. Various types of processes available for thermoforming plastics, which include vacuum snapback, plug assist forming, and thick and thin gauge thermoforming. Different raw materials used for making thermoformed plastic products include acrylics, bio-degradable polymers, polycarbonates, acrylonitrile butadiene styrene (ABS), polyethylene (PE), polypropylene (PP), polymethyl methacrylate (PMMA), polystyrene (PS), and poly vinyl chloride (PVC). Thermoformed plastic products are usually lighter in weight and have superior strength compared with traditional packaging materials such as glass and woods. Therefore, they are most widely used in different packaging applications such as electronic, healthcare, and food packaging.
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Based on the application the global thermoformed plastic products can be segmented into six categories: food packaging, appliances, electronic packaging, healthcare packaging, automotive, and others. Food packaging industry is the largest application for thermoformed plastic products. The thermoformed plastic products provides superior protection to food from bacteria, odor and moisture, which accelerates the use of thermoformed plastic products by food packaging industry.
In terms of geographic, North America dominates the global thermoformed plastic products market due to rising packaging industry and rapid industrialization. The U.S. represents the largest market for thermoformed plastic products followed by Canada in North America. In Europe, France, Germany, Italy, Spain and the U.K. holds major share of thermoformed plastic products market. However, Asia Pacific is expected to show high growth rates in the next five years in global thermoformed plastic products market. This is due to rising disposable income and increasing demand for food and healthcare packaging in the region. Japan, China and India are expected to be the fastest growing thermoformed plastic products markets in Asia Pacific.
Increasing disposable income, increasing demand for ready-to-eat food, and increasing demand for food and healthcare packaging are some of the major driving force for thermoformed plastic products. Increasing demand for thermoformed plastic products from the food industry is mainly due to the increased sales of canned and packaged food products. Increased demand for canned and packaged food products are mainly due to the changing lifestyle of the people, rising urbanization and hectic life schedule. Increasing disposable income in the developing countries such as India and China is expected to trigger the growth rate of thermoformed plastic products market. Increasing disposable income allow the customer to spend more on convenience food, ready-to-eat food, and packaged food, which indirectly boost the demand for thermoformed plastic products in the food packaging industry. According to the National Bureau of Statistics China, annual per capita disposable income of urban households in China increased from USD 2,271.0 in 2008 to USD 3408.5 in 2012. The overall annual disposable income in India medium household income increased from USD 1,366.2 billion in 2010 to USD 1,587.6 billion in 2013. Increasing raw materials prices acts as a major restraint for thermoformed plastic product market. The most commonly resins used in the thermoforming process are polypropylene, polyethylene, PET, and polystyrene. Since January 2011, PP has witnessed a 21% increase in the price and a 20% increase since January 2012. Other resin such as PS is increased by 25% on per-pound pricing since January 2012, and 13 percent since January 2012. The data shown here is for large-volume purchases of more than 20 million pounds per year.
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Some of the major companies operating in the thermoformed plastic products market are Pactiv LLC, Anchor Packaging Inc., Associated Packaging Ltd., Peninsula Packaging Company LLC, Placon Group, Berry Plastics, CM Packaging, Clear Lam Packaging, Graham Packaging, D&W Fine Pack, Huhtamaki Group, and Silgan Plastics.
Key points covered in the report:
1) Report segments the market on the basis of types, application, products, technology, etc (as applicable)
2) The report covers geographic segmentation
3) The report provides the market size and forecast for the different segments and geographies for the period of 2010 to 2020
4) The report provides company profiles of some of the leading companies operating in the market
The report also provides porters five forces analysis of the market.
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