Thermoformed Plastics Market to Expand at a CAGR of 6.9 % from 2021 to 2030
The worldwide Thermoformed Plastics market measurement is anticipated to achieve USD 20.4 billion by 2030 and is anticipated to increase at a CAGR of 6.9% from 2021 to 2030.
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Growth Factors
Increasing demand for medical and pharmaceutical products globally has been a major factor driving market growth. In addition, advancements in the healthcare industry has led to a rising demand for thermoformed plastics.
Rising product demand in various application sectors including food, healthcare, and medical packaging; automotive; electrical and electronics; construction; and consumer goods and appliances owing to its cost-effectiveness is projected to drive the market in the coming years. Rapid industrialization, increase in infrastructural activities, and advancements in medical activities is anticipated to drive the market growth over the forecast period.
Report Coverage
| Report Scope | Details |
| Market Size | USD 20.4 billion by 2030 |
| Growth Rate | CAGR of 6.9% From 2021 to 2030 |
| Base Year | 2021 |
| Historic Data | 2017 to 2020 |
| Forecast Period | 2021 to 2030 |
| Segments Covered | Product, Process, Application |
| Regional Scope | North America, Europe, Asia Pacific, Latin America, Middle East & Africa |
| Companies Mentioned | Pactiv LLC; Genpak LLC; Sonoco Products Company; CM Packaging; Placon Corporation; Anchor Packaging LLC; Brentwood Industries; Greiner Packaging GmbH; Dongguan Ditai Plastic Products Co., Ltd; Palram Americas Ltd. |
Report Highlights
Polypropylene accounted the product segment in 2020, with a revenue share of over 21.0%. This trend is expected to continue through the forecast period. Commonly used resins in thermoformed plastic production include polyethylene (PE), polystyrene (PS), and polypropylene (PP).
Increasing innovations, product developments, and investments in PMMA have been observed, particularly in the Middle Eastern region. For instance, Mitsubishi Rayon and SABIC announced a new joint venture for building a PMMA plant in Saudi Arabia.
Thin gauge thermoformed plastic accounted the market in 2020 and is expected to remain the largest process segment through the forecast period. Thermoformed plastics are manufactured through contact, radiant, and hot air heating techniques.
AMUT Group manufactured a thermoforming machine whose properties include servo-driven plug assist on lower and upper mold platens, good mold clamping and cutting force performance, and various heat oven configurations.
Food packaging was the leading application segment in 2020 with over 43% revenue share. Thermoformed plastics are widely used in the food industry for the packaging of fruits; vegetables; confectionery products; meat, poultry, and fish; and prepared meals.
Automotive is projected to be the fastest-growing application segment over the forecast period. Thermoformed plastics are preferred for electric vehicles as they are durable and lightweight.
North America accounted the global market with a share of around 55.0% in terms of revenue in 2020. Rapid industrialization and advancements in the packaging industry are projected to drive the thermoformed plastics market in the region over the forecast period.
Key Players
- Pactiv LLC
- Genpak LLC
- Sonoco Products Company
- CM Packaging
- Placon Corporation
- Anchor Packaging LLC
- Brentwood Industries
- Greiner Packaging GmbH
- Dongguan Ditai Plastic Products Co., Ltd
- Palram Americas Ltd.
Market Segmentation
- Product
- Polymethyl Methacrylate (PMMA)
- Bio-degradable polymers
- Polyethylene (PE)
- Acrylonitrile Butadiene Styrene (ABS)
- Poly Vinyl Chloride (PVC)
- High Impact Polystyrene (HIPS)
- Polystyrene (PS)
- Polypropylene (PP)
- Process
- Plug Assist Forming
- Thick Gauge thermoforming
- Thin Gauge Thermoforming
- Vacuum Snapback
- Application
- Healthcare & Medical
- Food Packaging
- Electrical & Electronics
- Automotive Packaging
- Construction
- Consumer Goods & Appliances
- Others
- Regional
- North America
- The U.S.
- Canada
- Mexico
- Europe
- The U.K.
- Germany
- France
- Italy
- Asia Pacific
- China
- Japan
- India
- Central & South America
- Middle East & Africa
- North America
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Reasons to Purchase this Report:
– Market segmentation analysis including qualitative and quantitative research incorporating the impact of economic and policy aspects
– Regional and country level analysis integrating the demand and supply forces that are influencing the growth of the market.
– Market value USD Million and volume Units Million data for each segment and sub-segment
– Competitive landscape involving the market share of major players, along with the new projects and strategies adopted by players in the past five years
– Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players
Table of Contents
Chapter 1. Introduction
1.1. Research Objective
1.2. Scope of the Study
1.3. Definition
Chapter 2. Research Methodology
2.1. Research Approach
2.2. Data Sources
2.3. Assumptions & Limitations
Chapter 3. Executive Summary
3.1. Market Snapshot
Chapter 4. Market Variables and Scope
4.1. Introduction
4.2. Market Classification and Scope
4.3. Industry Value Chain Analysis
4.3.1. Raw Material Procurement Analysis
4.3.2. Sales and Distribution Channel Analysis
4.3.3. Downstream Buyer Analysis
Chapter 5. Market Dynamics Analysis and Trends
5.1. Market Dynamics
5.1.1. Market Drivers
5.1.2. Market Restraints
5.1.3. Market Opportunities
5.2. Porter’s Five Forces Analysis
5.2.1. Bargaining power of suppliers
5.2.2. Bargaining power of buyers
5.2.3. Threat of substitute
5.2.4. Threat of new entrants
5.2.5. Degree of competition
Chapter 6. Competitive Landscape
6.1.1. Company Market Share/Positioning Analysis
6.1.2. Key Strategies Adopted by Players
6.1.3. Vendor Landscape
6.1.3.1. List of Suppliers
6.1.3.2. List of Buyers
Chapter 7. Global Thermoformed Plastics Market, By Product
7.1. Thermoformed Plastics Market, by Product, 2021-2030
7.1.1. Polymethyl Methacrylate (PMMA)
7.1.1.1. Market Revenue and Forecast (2017-2030)
7.1.2. Bio-degradable polymers
7.1.2.1. Market Revenue and Forecast (2017-2030)
7.1.3. Polyethylene (PE)
7.1.3.1. Market Revenue and Forecast (2017-2030)
7.1.4. Acrylonitrile Butadiene Styrene (ABS)
7.1.4.1. Market Revenue and Forecast (2017-2030)
7.1.5. Poly Vinyl Chloride (PVC)
7.1.5.1. Market Revenue and Forecast (2017-2030)
7.1.6. High Impact Polystyrene (HIPS)
7.1.6.1. Market Revenue and Forecast (2017-2030)
7.1.7. Polystyrene (PS)
7.1.7.1. Market Revenue and Forecast (2017-2030)
7.1.8. Polypropylene (PP)
7.1.8.1. Market Revenue and Forecast (2017-2030)
Chapter 8. Global Thermoformed Plastics Market, By Process
8.1. Thermoformed Plastics Market, by Process, 2021-2030
8.1.1. Plug Assist Forming
8.1.1.1. Market Revenue and Forecast (2017-2030)
8.1.2. Thick Gauge thermoforming
8.1.2.1. Market Revenue and Forecast (2017-2030)
8.1.3. Thin Gauge Thermoforming
8.1.3.1. Market Revenue and Forecast (2017-2030)
8.1.4. Vacuum Snapback
8.1.4.1. Market Revenue and Forecast (2017-2030)
Chapter 9. Global Thermoformed Plastics Market, By Application
9.1. Thermoformed Plastics Market, by Application, 2021-2030
9.1.1. Healthcare & Medical
9.1.1.1. Market Revenue and Forecast (2017-2030)
9.1.2. Food Packaging
9.1.2.1. Market Revenue and Forecast (2017-2030)
9.1.3. Electrical & Electronics
9.1.3.1. Market Revenue and Forecast (2017-2030)
9.1.4. Automotive Packaging
9.1.4.1. Market Revenue and Forecast (2017-2030)
9.1.5. Construction
9.1.5.1. Market Revenue and Forecast (2017-2030)
9.1.6. Consumer Goods & Appliances
9.1.6.1. Market Revenue and Forecast (2017-2030)
Chapter 10. Global Thermoformed Plastics Market, Regional Estimates and Trend Forecast
10.1. North America
10.1.1. Market Revenue and Forecast, by Product (2017-2030)
10.1.2. Market Revenue and Forecast, by Process (2017-2030)
10.1.3. Market Revenue and Forecast, by Application (2017-2030)
10.1.4. U.S.
10.1.4.1. Market Revenue and Forecast, by Product (2017-2030)
10.1.4.2. Market Revenue and Forecast, by Process (2017-2030)
10.1.4.3. Market Revenue and Forecast, by Application (2017-2030)
10.1.5. Rest of North America
10.1.5.1. Market Revenue and Forecast, by Product (2017-2030)
10.1.5.2. Market Revenue and Forecast, by Process (2017-2030)
10.1.5.3. Market Revenue and Forecast, by Application (2017-2030)
10.2. Europe
10.2.1. Market Revenue and Forecast, by Product (2017-2030)
10.2.2. Market Revenue and Forecast, by Process (2017-2030)
10.2.3. Market Revenue and Forecast, by Application (2017-2030)
10.2.4. UK
10.2.4.1. Market Revenue and Forecast, by Product (2017-2030)
10.2.4.2. Market Revenue and Forecast, by Process (2017-2030)
10.2.4.3. Market Revenue and Forecast, by Application (2017-2030)
10.2.5. Germany
10.2.5.1. Market Revenue and Forecast, by Product (2017-2030)
10.2.5.2. Market Revenue and Forecast, by Process (2017-2030)
10.2.5.3. Market Revenue and Forecast, by Application (2017-2030)
10.2.6. France
10.2.6.1. Market Revenue and Forecast, by Product (2017-2030)
10.2.6.2. Market Revenue and Forecast, by Process (2017-2030)
10.2.6.3. Market Revenue and Forecast, by Application (2017-2030)
10.2.7. Rest of Europe
10.2.7.1. Market Revenue and Forecast, by Product (2017-2030)
10.2.7.2. Market Revenue and Forecast, by Process (2017-2030)
10.2.7.3. Market Revenue and Forecast, by Application (2017-2030)
10.3. APAC
10.3.1. Market Revenue and Forecast, by Product (2017-2030)
10.3.2. Market Revenue and Forecast, by Process (2017-2030)
10.3.3. Market Revenue and Forecast, by Application (2017-2030)
10.3.4. India
10.3.4.1. Market Revenue and Forecast, by Product (2017-2030)
10.3.4.2. Market Revenue and Forecast, by Process (2017-2030)
10.3.4.3. Market Revenue and Forecast, by Application (2017-2030)
10.3.5. China
10.3.5.1. Market Revenue and Forecast, by Product (2017-2030)
10.3.5.2. Market Revenue and Forecast, by Process (2017-2030)
10.3.5.3. Market Revenue and Forecast, by Application (2017-2030)
10.3.6. Japan
10.3.6.1. Market Revenue and Forecast, by Product (2017-2030)
10.3.6.2. Market Revenue and Forecast, by Process (2017-2030)
10.3.6.3. Market Revenue and Forecast, by Application (2017-2030)
10.3.7. Rest of APAC
10.3.7.1. Market Revenue and Forecast, by Product (2017-2030)
10.3.7.2. Market Revenue and Forecast, by Process (2017-2030)
10.3.7.3. Market Revenue and Forecast, by Application (2017-2030)
10.4. MEA
10.4.1. Market Revenue and Forecast, by Product (2017-2030)
10.4.2. Market Revenue and Forecast, by Process (2017-2030)
10.4.3. Market Revenue and Forecast, by Application (2017-2030)
10.4.4. GCC
10.4.4.1. Market Revenue and Forecast, by Product (2017-2030)
10.4.4.2. Market Revenue and Forecast, by Process (2017-2030)
10.4.4.3. Market Revenue and Forecast, by Application (2017-2030)
10.4.5. North Africa
10.4.5.1. Market Revenue and Forecast, by Product (2017-2030)
10.4.5.2. Market Revenue and Forecast, by Process (2017-2030)
10.4.5.3. Market Revenue and Forecast, by Application (2017-2030)
10.4.6. South Africa
10.4.6.1. Market Revenue and Forecast, by Product (2017-2030)
10.4.6.2. Market Revenue and Forecast, by Process (2017-2030)
10.4.6.3. Market Revenue and Forecast, by Application (2017-2030)
10.4.7. Rest of MEA
10.4.7.1. Market Revenue and Forecast, by Product (2017-2030)
10.4.7.2. Market Revenue and Forecast, by Process (2017-2030)
10.4.7.3. Market Revenue and Forecast, by Application (2017-2030)
10.5. Latin America
10.5.1. Market Revenue and Forecast, by Product (2017-2030)
10.5.2. Market Revenue and Forecast, by Process (2017-2030)
10.5.3. Market Revenue and Forecast, by Application (2017-2030)
10.5.4. Brazil
10.5.4.1. Market Revenue and Forecast, by Product (2017-2030)
10.5.4.2. Market Revenue and Forecast, by Process (2017-2030)
10.5.4.3. Market Revenue and Forecast, by Application (2017-2030)
10.5.5. Rest of LATAM
10.5.5.1. Market Revenue and Forecast, by Product (2017-2030)
10.5.5.2. Market Revenue and Forecast, by Process (2017-2030)
10.5.5.3. Market Revenue and Forecast, by Application (2017-2030)
Chapter 11. Company Profiles
11.1. Pactiv LLC
11.1.1. Company Overview
11.1.2. Product Offerings
11.1.3. Financial Performance
11.1.4. Recent Initiatives
11.2. Genpak LLC
11.2.1. Company Overview
11.2.2. Product Offerings
11.2.3. Financial Performance
11.2.4. Recent Initiatives
11.3. Sonoco Products Company
11.3.1. Company Overview
11.3.2. Product Offerings
11.3.3. Financial Performance
11.3.4. Recent Initiatives
11.4. CM Packaging
11.4.1. Company Overview
11.4.2. Product Offerings
11.4.3. Financial Performance
11.4.4. Recent Initiatives
11.5. Placon Corporation
11.5.1. Company Overview
11.5.2. Product Offerings
11.5.3. Financial Performance
11.5.4. Recent Initiatives
11.6. Anchor Packaging LLC
11.6.1. Company Overview
11.6.2. Product Offerings
11.6.3. Financial Performance
11.6.4. Recent Initiatives
11.7. Brentwood Industries
11.7.1. Company Overview
11.7.2. Product Offerings
11.7.3. Financial Performance
11.7.4. Recent Initiatives
11.8. Greiner Packaging GmbH
11.8.1. Company Overview
11.8.2. Product Offerings
11.8.3. Financial Performance
11.8.4. Recent Initiatives
11.9. Dongguan Ditai Plastic Products Co., Ltd
11.9.1. Company Overview
11.9.2. Product Offerings
11.9.3. Financial Performance
11.9.4. Recent Initiatives
11.10. Palram Americas Ltd.
11.10.1. Company Overview
11.10.2. Product Offerings
11.10.3. Financial Performance
11.10.4. Recent Initiatives
Chapter 12. Research Methodology
12.1. Primary Research
12.2. Secondary Research
12.3. Assumptions
Chapter 13. Appendix
13.1. About Us
Glossary of Terms
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