Seattle, WA -- (SBWIRE) -- 10/16/2019 -- Thermoform Packaging Market report provides the statistical analysis of "Thermoform Packaging Market: Global Industry Analysis, Size, Share, Growth, Trends, Outlook and Forecasts 2018 - 2026" present in the industry space. The report helps the user to strengthen decisive power to plan their strategic moves to launch or expand their businesses by offering them a clear picture of this market.

Thermoforming is the process of molding material (plastic, aluminum, wood, and rubber) into desired shape to create packaging containers. It is a cost effective process, which allows molding of large size containers from sheets. Moreover, thermoform packaging can be customized into various shapes and sizes. Printing can be done after molding to make products aesthetically appealing.

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Cost effectiveness and ability for mass manufacturing make it a popular choice among the industries such as food and pharmaceutical. However, environmental repercussions of using plastic packaging is major challenge for growth of the market. Moreover, thermoformed material cannot bear excess weight and cannot be used for the packaging of heavy materials.

Thermoform Packaging Market Taxonomy

On the basis of process, thermoform packaging market is segmented into:

Vacuum Forming
Pressure Forming
Plug Assist Forming
Drape Forming
Cavity Forming
Twin Sheet Forming

On the basis of heat seal coating, thermoform packaging market is segmented into:

Water Based
Solvent Based
Hot Melt Based

On the basis of material, thermoform packaging market is segmented into:

Plastic

-Polyethylene Terephthalate (PET)
-Polyethylene (PE)
-Poly Vinyl Chloride (PVC)
-Acrylonitrile Butadiene Styrene (ABS)
-Polypropylene (PP)
-Polystyrene (PS)
-Others

Paper and Paperboard

-SBS
-WLC
-Other

Aluminum
Wood
Plaster of Paris
Others

Skin packaging segment is gaining significant traction due to its properties such as high durability, toughness, improved aesthetics, and lower material use over conventional blister packaging. Plastic is widely used for manufacturing of thermoform packaging due to its wide availability and cheap material cost. Clamshell packaging is used for consumer goods. They are usually transparent to ensure that the consumer can see the contents of the packaging. Whereas, blister cards are used in pharmaceutical industry and are manufactured by heat sealing a sheet foil. Food and beverage industry is the largest end user of this market, owing to its ability of customize according to the requirement. Its durability ensures product is not damaged and contamination is prevented.

Thermoform Packaging Market Outlook

North America and Europe are the largest markets for thermoformed packaging due to high disposable incomes in the regions. Moreover, a preference for packaged food and disposable products are also driving growth of the market.

Asia Pacific is the fastest growing market with the world's largest population in India and China, which in turn is boosting demand for food, beverages, pharmaceuticals, and electronics. These countries are also growing as manufacturing hubs for pharmaceuticals and electronics due to low cost of labor and raw material. According to International Monetary Fund (IMF), the Asia Pacific region accounted for 50% of the world's GDP and is projected to become a prime consumer hub over the forecast period.

Increasing income of population in Latin America and high consumption of packaged food and beverages is fueling growth of the market.

The Middle East and Africa are fastest growing region in this markets, owing to large working migrant population in GCC countries and fast growing economies in Africa, which in turn are driving growth of the market.

New thermoforming technique called as 'Computational Thermoforming' has come up as an alternative to 3D printing. It was developed by Zurich-based Interactive Geometry Lab in 2016. This largely cuts down time required for manufacturing special purpose packaging. Adoption of this technology is expected to restrain growth of the market over the forecast period.

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Key Players in the Thermoform Packaging Market

Key Players operating in thermoform packaging market include Amcor Limited, Bemis Company, Inc., WestRock Company, E.I. du Pont de Nemours and Company, DS Smith Plc., Constantia Flexibles GmbH, Sonoco Products Company, Anchor Packaging, Tekni-plex Inc., G. Mondini S.p.A, and Display Pack Inc.

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