Global Thermoformed Plastics Market Analysis to Accounted for USD 13.98 billion in 2022
Sarasota, FL -- (SBWIRE) -- 11/09/2018 -- Zion Market Research has published a new report titled "Thermoformed Plastics Market by Product (Acrylics, Bio-Degradable Polymers, Polycarbonates, Acrylonitrile Butadiene Styrene (ABS), Polyethylene (PE), Polypropylene (PP), Polymethyl Methacrylate (PMMA), Polystyrene (PS), and Poly Vinyl Chloride (PVC)) for Healthcare & Medical, Food Packaging, Electrical & Electronics, Construction, Consumer Goods, Automotive Packaging and Other Applications - Global Industry Perspective, Comprehensive Analysis and forecast, 2016 – 2022". According to the report, global thermoformed plastics market was valued at USD 10.43 billion in 2016, is expected to reach USD 13.98 billion in 2022 and is anticipated to grow at a CAGR of 5.0% between 2017 and 2022.
There are various methods used for processing thermoformed plastics such as thick gauge thermoforming thin gauge thermoforming, vacuum snapback and plug assist forming. Increasing demand in different application divisions including electrical & electronics, automotive, food, and beverages packaging, consumer goods, healthcare & medical, construction etc. inferable from cost-efficient nature is anticipated to fuel the market in future.
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Generally used resins for thermoformed plastics generation include polyethylene (PE), polystyrene (PS), and polypropylene (PP). Polymethyl methacrylate (PMMA) emerged as the largest product segment in 2016 which accounted for more than 45% of the global market. Polymethyl methacrylate (PMMA) product segment is anticipated to grow at the highest CAGR over the forecast period. Increasing utilization of polymethyl methacrylate (PMMA) because of its extraordinary light transmission, high surface hardness and tremendous administration life alongside specific properties like weathering and UV light protection this item fragment are expected to fuel the market. The totally recyclable nature by dodging wastage and shielding the natural resources is a major driver for the increase utilization of this segment.
Thin gauge thermoforming plastic leading process segment over another process in 2016. Thin gauge thermoforming plastic process is anticipated remain the largest process segment over the forecast period. Utilizing contact, radiant, and hot air heating procedures the thermoform items are produced. Rising demand for thin gauge thermoforming packaging items as packaging trays in the medical and healthcare sector is anticipated to accelerate the market over the forecast period. Thick gage thermoforms are tough and unbending walled in areas which are utilized to pack electronic hardware. The thick gauge thermoforming is utilized as a part of wide range of applications including front & back guards and inside trim segments in heavy truck industry, enclosures for thread factories and weights in wellness hardware, colossal brightening signs in signage, cowlings, dash segments, and bumpers in agriculture segment, taxicab interiors and engine covers in construction equipment industry. In recent years, plug assist forming process is the fastest growing process in near future. Increasing utilization of plug assist forming products in food and beverage packaging is expected to fuel the market growth in the forecast period. The packaging materials shaped utilizing this strategy has uniform wall thickness with reduced starting gauge which ensures the item security and content storage.
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The global thermoformed plastics market in 2016 was dominated by North America. It accounted for more than 50% of the global market share. Busy lifestyle, rapid industrialization, and growing packaging industry are anticipated to propel the market over the forecast period. Rising manufacturers and distributors of thermoformed plastic products in this region is anticipated to boost the industry growth. The Asia Pacific is the fastest growing segment with potential growth opportunities. Rising demand from industries like automotive, healthcare & medical, food packaging, construction, and consumer goods in this region is expecting to boost the market in future. Latin American regions offer noteworthy growth potential for the thermoformed plastics market in the coming years, mainly increased use in food packaging items.
Global thermoformed plastics market is very competitive and fragmented by the presence of many small and big players. Key players profiled in the report include Pactiv LLC, D&W Fine Pack LLC, Tegrant Corporation, Peninsula CM Packaging, Placon Corporation, Anchor Packaging, Spencer Industries, Genpak LLC, Sonoco Plastics Brentwood Industries, Greiner Packaging, and Silgan Plastics among others. The major players are involving to develop their product. The key players are taking active measures to develop their products and expand their production capabilities in near future.
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The report segments the global thermoformed plastics market as:
Global Thermoformed Plastics Market: Product Analysis
Acrylonitrile Butadiene Styrene (ABS)
Polymethyl Methacrylate (PMMA)
Poly Vinyl Chloride (PVC)
Global Thermoformed Plastics Market: Process Analysis
Thin Gauge Thermoforming Process
Thick Gage Thermoforming Process
Plug Assist Thermoforming Process
Global Thermoformed Plastics Market: Application Analysis
Healthcare & Medical
Electrical & Electronics
Global Thermoformed Plastics Market: Regional Analysis
Middle East and Africa
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