Thermoform Packaging Market to Record an Impressive Growth By 2024
Sarasota, FL -- (SBWIRE) -- 11/13/2017 -- Europe accommodated for the highest market share owing vast industrial networks such as automobiles, food and beverages, and pharmaceuticals. However, improving the economy in Germany is also expected to contribute to the fastest growth in the Europe for the thermoforming packaging market. Asia Pacific comes second after Europe owing to gaining economic development in the country. Increasing food industries in China and India is also expected to fuel the demand in the market. Japan is focusing towards convenient products which will boost the global market growth in future. Whereas, the Middle East and Africa will show sluggish growth in the market due to slow adoption of thermoform packaging.
Thermoforming is a manufacturing process where plastic sheets are heated to form temperature to easily bend that plastic sheet in order to form the desired product. This thermoforms packaging is used to pack food and maintain its freshness while transporting or shipping. In addition, they also protect and increase the shelf life of the product. Brand owners, retailers, and food processors specifically prefer thermoform containers for packaging. In thermoforming process, polyethylene, polypropylene, and polystyrene are commonly used resins. The thermoforming packaging is widely used in packaging automobile spare parts, electronic devices, medicines, and food products so as to add extra life and protect them from damage.
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Huge application in food packaging industry is expected to boost thermoform packaging market in the coming years. Thermoform plastics are moisture-free, weightless, odor-free, and flexible and hence are majorly preferred over glass and wood. Owing to these properties, the global market is expected to propel in future. Moreover, people moving towards packed and fresh food is also anticipated to augment growth in the global market in future. Increasing disposable income and rapid urbanization are also impacting the market growth in a positive way. Changing lifestyle and rising living standards are also expected to boost the global thermoform packaging market.
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On the basis of application, the thermoform packaging market is segmented into pharmaceuticals, consumer usable, electronics, food & beverages, and others. The food industry is the largest application segment and is anticipated to drive the global demand in near future. The thermoform packaging market is divided on the basis of types of shipping containers, clamshells, food trays, blister packages, and shipping containers. Of which, clamshells segment is highly preferable in the global market. Furthermore, the global market is categorized based on the material used as acrylonitrile butadiene styrene (ABS), high-density polyethylene (HDPE), polystyrene (PS), polyvinyl chloride (PVC), acrylics (PMMA), cellulose acetate, polypropylene (PP), and low-density polyethylene (LDPE).
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Some of the key players in the global thermoform packaging market are Display Pack Inc., Amcor Limited, Sonoco Products Company, DS Smith Plc., Bemis Company, Inc., WestRock Company, and E.I. du Pont de Nemours.