+91-8668442535

Thermoformed Plastic Products Market By Application (Food, Appliances, Pharmaceutical, Automotive) - Growth, Future Prospects & Competitive Analysis, 2016 - 2023

The process of molding plastic sheets to the desired shape using pliable temperature and pressure is known as thermoforming. Plastic sheets, after molding, are trimmed to form a usable product. Thermoformed plastics find application in various food packaging, appliances, healthcare product packaging, and automobiles. Thermoforming plastics are preferred as the packaging material due to their low cost and the aesthetic appearance of the products.

The global thermoformed plastic market is expected to gain momentum with growing demand for food packaging products due to rising demand for convenience foods. Further, growing demand from the automobile industry for various lightweight parts with a focus on improving vehicle efficiency is anticipated to augment the growth of the thermoformed plastic market during the forecast period.

Moreover, an increasing number of applications in the automobile industry, such as bumpers, dashboards, and packaging of automobile parts, is anticipated to fuel the demand for thermoformed plastics over the forecast period (2016–2023). However, volatile raw material prices and high labor costs are expected to hamper the growth of the thermoformed plastic market during the forecast period (2016–2023).

North America is expected to be the largest region in the global thermoformed plastics market. Growing demand for convenience foods due to people's changing lifestyles and busy schedules, combined with associated food packaging regulations, is expected to fuel demand for thermoformed plastics in the region.

Followed by it, Europe is anticipated to be the second largest region in the global thermoformed plastics market owing to an increasing focus on food packaging quality, favorable regulatory support, and upcoming events such as the FIFA World Cup 2018 in Russia, which are projected to fuel the demand for packing products, which in turn is anticipated to drive the demand for thermoformed plastics during the forecast period (2016-2023). Asia Pacific is anticipated to be the fastest-growing region among all the regions.

It offers the most attractive opportunity for the thermoformed plastics market due to the rapid growth in per capita income of the middle class in the region coupled with an increasing population, which is expected to augment the growth of the thermoformed plastics market during the forecast period (2016–2023). However, regulatory concerns over the recycling and disposal of plastic packaging waste are anticipated to hamper the demand for thermoformed plastic products during the forecast period (2016–2023).The global thermoformed plastics market is expected to be worth 381.4-kilo tonnes by the end of 2016 and to grow at a CAGR of 4.1% between 2016 and 2023.

Purpose of the Report

The purpose of this strategic research study titled "Global Thermoformed Plastics Market: Growth, Future Prospects, Competitive Analysis, and Forecast, 2016–2023" is to provide company executives, industry investors, and industry participants with in-depth insights to enable them to make informed strategic decisions regarding the opportunities in the global thermoformed plastics market.

Target Audience

  • Industry Investors
  • Research Professionals
  • Emerging Companies
  • Plastic packaging manufacturers
  • Food and Beverage Packaging Manufacturers
  • Automobile Manufactures
  • Research Institutes

On the basis of application, the global thermoformed plastics market is categorized into the following types:

  • Food
  • Appliances
  • Pharmaceutical
  • Automotive
  • Others

On the basis of application, the global thermoformed plastic market can be segmented into food, appliances, pharmaceuticals, automotive, and others.Among all applications, the food segment was anticipated to be the most dominant segment in 2016, accounting for the largest revenue share in the global thermoformed plastic products market.

Growing demand for food packaging products due to the increasing use of thermoformed plastics in the manufacturing of plastic products used for food packaging, coupled with increasing consumer awareness regarding the benefits of packaged food, is fueling the demand for thermoformed plastics. Healthcare is anticipated to be the fastest-growing segment due to the increasing use of thermoplastics in medical devices and in the packaging of healthcare products.

The segment is anticipated to gain significant market share by 2023. Growing inclination toward increased use of lightweight thermoformed plastic products to improve automobile efficiencies, as well as growing demand for thermoformed plastic packing products for the packaging of sensitive and costly automobile parts, is expected to drive the automobile segment's growth over the forecast period (2016-2023).

Appliances and other segments are expected to collectively account for over 11.6% of the global thermoformed plastic market in 2016 and are anticipated to register steady growth over the forecast period (2016–2023).

On the basis of geography, the global thermoformed plastics market is segmented into the following categories:

  • North America
  • U.S.
  • Canada
  • Latin America
  • Brazil
  • Mexico
  • Argentina
  • rest of Latin America
  • Europe
  • Germany
  • France
  • U.K.
  • Rest of Europe
  • Asia Pacific
  • China
  • India
  • Japan
  • Rest of Asia Pacific
  • Middle East and Africa (MEA)
  • GCC
  • rest of MEA

The global thermoformed plastics market is segmented on the basis of geography. North America is expected to be the largest region in the global thermoformed plastics market. Growing demand for convenience foods due to people's changing lifestyles and busy schedules, combined with associated food packaging regulations, is expected to fuel demand for thermoformed plastics in the region.

Followed by it, Europe is anticipated to be the second largest region in the global thermoformed plastics market owing to a strong focus on food packaging quality supported by regulatory policies over food packaging, along with upcoming events such as the FIS Nordic World Ski Championships in Finland in 2017, the World Figure Skating Championships in Finland, The Crabbies Grand National in 2017, horse racing in England, and the FIFA World Cup 2018 in Russia, which are projected to fuel the demand for packaged food products, which in turn is anticipated to drive the demand for thermoformed plastics during the forecast period (2016-2023).

Asia Pacific is anticipated to be the fastest-growing region among all the regions. It offers the most attractive opportunity for the thermoformed plastics market due to the rapid growth in per capita income of the middle class in the region coupled with an increasing population. Further, upcoming events such as the 2017 Australian Open tennis in Melbourne, Australia, the 2018 commonwealth games in Queensland, Australia, and others are expected to drive the demand for packaged food, which in turn is projected to augment the growth of thermoformed plastics in the region during the forecast period (2016-2023).

Frequently Asked Questions:

The market for Thermoformed Plastic Products Market is expected to reach USD XX Mn By 2023.

The Thermoformed Plastic Products Market is expected to see significant CAGR growth over the coming years, at 4.1%.

The report is forecasted from 2016-2023.

The base year of this report is 2015.

Brentwood Industries, D&W Fine Pack, Huhtamaki Group, Peninsula Packaging are some of the major players in the global market.

Choose License Type
Trusted By
Godaddy
Published Date:  Dec 2016
Category:  Advanced Materials
Report ID:   58268
Report Format:   PDF
Pages:   120
Rating:    4.3 (55)
Delivery Time: 24 Hours to 48 Hours   
Connect With Us
+91-8668442535
24/7 Research Support