Global thermoformed plastics market is expected to grow positively on account of huge application in growing food packaging industry over the forecast period. They are majorly used in thermoforming process which involves plastic sheets heating to convert into a bendable form which can be molded into the end desired shape as per as customer specifications. Various polymers types are used in thermoforming process. Commonly used resins in thermoformed plastics production include polyethylene, polystyrene and polypropylene. Food industry is a major thermoformed plastics application segment which is expected to drive global demand over the forecast period. Product applications is not limited to food industry but are also used in toiletries, electronics and pharmaceuticals. They are less in weight, flexible and odor & moisture free in comparison to other packaging materials on account of which thermoformed plastics are preferred over others such as wood and glass. Using bio based polymers are expected to be the major market opportunity in coming years. Thermoformed plastics manufacturing finds difficulty in offering similar thickness property as compared to plastics which is expected to obstruct its use over plastics in the coming years. Volatility in raw material prices is expected to hinder the global thermoformed plastics market growth over the forecast period.
Global market is segmented on the basis of product, process and application. Product segmented is sub segmented as polymethyl methacrylate (PMMA),bio-degradable polymers, polyethylene (PE), acrylonitrile butadiene styrene (ABS),poly vinyl chloride (PVC), high impact polystyrene (HIPS), polystyrene (PS) and polypropylene (PP). Whereas process segment includes plug assist forming, thick gauge thermoforming, vacuum snapback and thin gauge thermoforming. Application segment includes healthcare packaging, food packaging, electronics packaging, automotive and health care packaging. Food packaging industry was holding majority of thermoformed plastics application share across the globe in comparison to other different application.
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North America was holding the largest thermoformed plastics market share on account of huge industrialization coupled with rapid plastic industry growth. U.S. and Canada were the major contributing countries in this region. Asia Pacific is expected to be the fastest and largest thermoformed plastics market over the forecast period. Countries such as China, India and Japan are expected to be the major contributors attributable to emerging economies, increasing population along with rapid industrialization and growing food & healthcare industry owing to which huge regional thermoformed plastics demand is expected over the forecast period. Significant growth rate is expected Europe on account of end use industries including food packaging, pharmaceuticals and automotive demand from various countries such as France, Italy, U.K and Germany.
Global thermoformed plastics market players include Pactiv, Tegrant, Peninsula Packaging, CM Packaging, Placon Corporation, Genpak, Anchor Packaging and Associated Packaging Technologies. Other prominent players includes Zhuhai Zhongfu Enterprise, Greiner Packaging, Clear Lam Packaging, D&W Fine Pack, Brentwood Industries, Nampak Plastics Europe, Spencer Industries, PolyOne Designed Structures and Solutions llc, Silgan Plastics, Wilbert Plastic Services and Exopack Holdings Sarl. Global thermoformed plastics market is highly fragmented in nature. Companies are expected to continue their research and development activities for thermoformed plastics production using bio based polymers on account of their environment friendly property. Growing environmental related awareness among consumer is expected to boost the global bio based plastics market over the forecast period.
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