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Thermoformed Plastics Market Research Report - Forecast to 2030

Thermoformed Plastics Market Research Report– by product (PET, PE, HIPS), process (vacuum forming, pressure forming), application (healthcare, food packaging, electrical & electronics, automotive packaging), by region – Forecast till 2030

ID: MRFR/CnM/4365-HCR | February 2021 | Region: Global | 100 pages

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Thermoformed Plastics Market Overview

Thermoformed plastics market is expected to reach CAGR 5.63% during the forecast 2021-2030.

Thermoformed plastics are manufactured via a process of the same name, which involves taking a sheet of plastic material, heating it up until pliable, forming it to a three-dimensional shape, then trimming and finishing it into a usable product.

The various applications of thermoformed plastics in major end-use industries such as healthcare & medical, food packaging, electrical & electronics, automotive packaging, and others. The primary adoption of thermoformed plastics is in the healthcare sector owing to the anti-bacterial property and resistance to odor and moisture. These plastics are uniquely engineered which justifies their use as surgical gloves and urology disposables. The other factors driving the global thermoformed plastics market is its use in food packaging. The increasing disposable income and the demand for packaging of ready-to-go processed foods have augmented the market growth of thermoformed plastics. Thermoformed plastics are widely consumed in automotive packaging as it is lightweight yet stronger than the conventional packaging materials such as glass and wood. These properties also enable their application in a lightweight, strong, and efficient consumer goods and appliances. Thermoformed plastics are also used in the construction sector for manufacturing concrete, flooring, and furniture which is expected to further fuel the market during the review period. Furthermore, properties such as chemical resistance, heat deflection, rigidity, and dielectric strength account for the adoption of thermoformed plastics in electrical and electronic appliances, resulting in the increasing sales and consumption, which is projected to drive the market. The market developments such as acquisition and expansion are likely to offer substantial opportunities for the market growth. For instance, in November 2016, Amut, a provider of plastic extrusion solutions, introduced new generation thermoforming machines operating with a production speed of up to 35 cycles per minute. Additionally, Sonoco Products Company has announced to acquire Highland Packaging Solutions in March 2018 thus, strengthening the thermoformed plastic business.


Global Thermoformed Plastics Share, by the End-use Industry (%)


 Thermoformed Plastics Share


Source: MRFR analysis


Regional Analysis


The global thermoformed plastics market is segmented into five regions Asia Pacific, North America, Europe, Latin America, and the Middle East & Africa.


Asia Pacific is the fastest emerging region in the global thermoformed plastics due to the high demand for the product in end-use industries such as healthcare, food & beverage, electrical and electronics. The growth can be attributed to the growing packaging industry in countries such as China, India, and Japan.


North America is the second largest region in the global thermoformed plastics market due to the high production and sales of food & beverage, medical products, and automotive.


The European market is growing due to the rising demand for the product from food & beverage and pharmaceutical industries.


The Middle East & Africa are expected to experience a significant market growth due to the expanding infrastructure and construction activities in this region.


Segmentation


The global thermoformed plastics market is segmented on the basis of the product, process, application, and region.


On the basis of the product, the global thermoformed plastics market is segmented into polyethylene terephthalate (PET), polyethylene (PE), acrylonitrile butadiene styrene (ABS), polystyrene (PS), polyvinyl chloride (PVC), polypropylene (PP), polymethyl methacrylate (PMMA), high impact polystyrene (HIPS), and others.


The global thermoformed plastics market is segmented by its processes such as vacuum forming, pressure forming, heavy gauge (thick) thermoforming, thin thermoforming, plug assist, and others.


By the application, the market is segmented as healthcare & medical, food packaging, electrical & electronics, automotive packaging, construction, consumer goods & appliances, and others.


Geographically, the global thermoformed plastics market is spanned across five regions namely Asia Pacific, North America, Europe, Latin America, and the Middle East & Africa.


Key Players


Some of the manufacturers operating in the global thermoformed plastics market are Pactiv LLC (U.S.), Sonoco Products Company (U.S.), Spencer Industries Incorporated (U.S.), D&W Fine Pack LLC (U.S.), Brentwood Industries (U.S.), Genpak, LLC (U.S.), Placon (U.S.), Silgan Plastics (U.S.), Graham Packaging Company (U.S.), Wilbert Plastic Services, Inc. (U.S.).


Industry Update:


October 2021- A North American thermoformer in sustainable plastic packaging, Placon is extending its employee base and production capacity by acquiring a former Sonoco packaging operation in Wilson, North Carolina. Placon will buy all functioning equipment and hire more than 80 employees at the 112,000-sq. Ft location. The transaction will assist in meeting present capacity requirements in medical and retail markets, and further grow the company's part in thermoforming sustainable post-consumer recycled polyethylene terephthalate (PET) packaging.

November 2021 -- A leading manufacturer of engineered thermoplastics and custom packaging solutions, Spartech launches Anti-Stat UltraTuf™ PETG (Polyethylene Terephthalate Glycol) and Anti-Stat HIPS (High Impact Polystyrene Sheet) - thermoplastic sheet products. In addition to Spartech Royalite® R63 and R632 conductive fire-rated thermoplastic sheets, these latest products possess custom surface resistivity and anti-stat capability and static decay, offer significant chemical resistance, durability, and aesthetics, and are engineered for applications where controlled electrical conductivity is required.

Spartech Anti-Stat UltraTuf™ PETG and Anti-Stat HIPS, along with Royalite® R63 and R632 thermoplastic sheets, offer long-term static protection while mixing abrasion resistance and high stiffness with excellent thermoformability and printability.

July 2019:
 US-based Rohrer is a packaging solutions provider that recently opened its thermoforming facility in Tijuana, Mexico. This facility is conditionally operational while its official opening is scheduled to take place in late 2019.


Intended Audience



  • Thermoformed plastics Manufacturers

  • Traders and distributors of thermoformed plastics

  • Research and development institutes

  • Potential investors

  • Raw material suppliers

  • Nationalized laboratory



Report Scope:
Report Attribute/Metric Details
  Market Size   2030: Significant value
  CAGR   5.63% 2030
  Base Year   2021
  Forecast Period   2021 to 2030
  Historical Data   2019 & 2020
  Forecast Units   Value (USD Million)
  Report Coverage    Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
  Segments Covered   By Product, Process, Application and Region
  Geographies Covered   North America, Europe, Asia-Pacific, and Rest of the World (RoW)
  Key Vendors   Pactiv LLC (U.S.), Sonoco Products Company (U.S.), Spencer Industries Incorporated (U.S.), D&W Fine Pack LLC (U.S.), Brentwood Industries (U.S.), Genpak, LLC (U.S.), Placon (U.S.), Silgan Plastics (U.S.), Graham Packaging Company (U.S.), Wilbert Plastic Services, Inc. (U.S.).
  Key Market Opportunities   The market developments such as acquisition and expansion are likely to offer substantial opportunities for the market growth.
  Key Market Drivers

  • Its use in food packaging.
  • The increasing disposable income and the demand for packaging of ready-to-go processed foods


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    Frequently Asked Questions (FAQ) :

    The different applications of thermoformed plastics include automotive packaging, electrical and electronics, food packaging, and healthcare and medical.

    Asia Pacific is predicted to have maximum share in the thermoformed market during the forecast period.

    Notable players profiled in the thermoformed market include Wilbert Plastic Services, Inc. (U.S.), Graham Packaging Company (U.S.), Silgan Plastics (U.S.), Placon (U.S.), Genpak, LLC (U.S.), Brentwood Industries (U.S.), D&W Fine Pack LLC (U.S.), Spencer Industries Incorporated (U.S.), Sonoco Products Company (U.S.), and Pactiv LLC (U.S.).

    Automotive packaging is the largest consumer of thermoformed plastics.

    Chemical resistance, dielectric strength, rigidity, and heat deflection are the key properties of thermoformed plastics.