02 March 2020
Thermoformed Plastic Packaging Market Report 2020-2030: Value Forecasts by Material (PP, PE, ABS, PVC, PET, PS, Others), by Application (Food & Beverage, Medical, Electronic Devices, Consumer Goods, Others) Plus Analysis of Leading Companies operating in this industry.
Thermoforming is a manufacturing process in which paperboard, plastic, or aluminium sheets are heated to a temperature such that the desired product can be easily bent. Thermoform packaging is primarily used to store food to keep it fresh and to increase the product's shelf life. Retailers, the owners of products and food processors favour thermoformed plastic containers over other packaging techniques.
Increased demand for convenient and easy-to-use packaging has led to increased barrier property requirements for keeping the food fresh and improving its shelf life. Packaging manufacturers use largely thermoform packaging for food products as it eliminates material wastage and the packaging is relatively easier to customize. However, factors such as volatile prices of raw materials and government plastics regulations such as PVC are estimated to impede market growth during the forecast period.
The global plastics market is likely to be driven by the increasing consumption of polymers in construction, consumer goods, automotive, medical devices, and electrical & electronics industries. Regulatory intervention in order to lower vehicular weight to improve fuel efficiency and ultimately reduce carbon emissions is driving automotive Original Equipment Manufacturers (OEMs) to adopt polymers as a substitute to metals for fabricating automotive components.
Due to the extensive application of thermoform solutions in food packaging, Food & Beverage is projected to be the top investment pocket on the global thermoform packaging market. In addition, the escalating demand for convenient and user-friendly packaging together with reduced packaging costs is projected to boost the adoption of thermoform packaging in the food & beverage industry.
Key companies covered in this report are Pactiv LLC, Sonoco Products Company, C.M. Packaging, Placon, Genpak, LLC, Anchor Packaging, Brentwood Industries, Inc., Greiner Packaging International GmbH, Dongguan Ditai Plastic Products Co. Ltd., Palram Americas Ltd., DS Smith, Amcor, Display Pack, and WestRock.
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