Stratview Research has published a new report titled “Thermoforming Plastics Market” which is segmented by Plastic Type (Polypropylene, Polystyrene, Polyethylene Terephthalate, Polyethylene, Poly Vinyl Chloride, Bio-Plastics, Acrylonitrile-Butadiene-Styrene, and Others), by Thermoforming Type (Vacuum Forming, Pressure Forming, and Mechanical Forming), by Thickness Type (Thin Gauge, Thick Gauge), by End-Use Industry Type (Food & Agriculture Packaging, Consumer Goods & Appliances, Healthcare & Pharmaceutical, Construction, Electrical & Electronics, Automotive Packaging & Structures, and Others), and by Region (North America, Europe, Asia-Pacific, and Rest of the World).
As per the study, the market size was expected to grow from USD 35.96 Billion in 2021 to USD 54.89 Billion by 2028 at a CAGR of 6.14% during the forecast period 2022-2028.
This report covers comprehensive data on emerging trends, market drivers, growth opportunities, and restraints that can affect the market dynamics of the industry. It provides a thorough analysis of the market segments which include products, applications, and competitor analysis.
The market is bifurcated into various segments. Below given is the segment-wise analysis –
By End-Use Industry Type
The Food & Agriculture Packaging segment held the largest share of the market in 2021 and is expected to remain dominant during the forecast period.
The thermoforming plastics market is segmented as food & agriculture packaging, consumer goods & appliances, healthcare & pharmaceutical, construction, electrical & electronics, automotive packaging & structures, and others. This segment is driving the market due to the huge demand for packaged and branded products. Using safe packaging materials, thermoforming plastic provides better protection during transportation, leading to their preference in the food & agriculture packaging industry.
By Plastic Type
The Propylene or PP segment is expected to assert its supremacy in the market till 2028.
The thermoforming plastics market is segmented as polypropylene, polystyrene, polyethylene terephthalate, polyethylene, polyvinyl chloride, bioplastics, acrylonitrile-butadiene-styrene, and others. Key advantages such as an excellent strength-to-weight ratio, stellar energy management, outstanding chemical resistance, and good durability make it an ideal choice for packaging applications.
Which Region is expected to remain the largest market?
North America is estimated to be the largest market during the forecast period, with the USA offering lucrative growth opportunities.
This growth can be attributed to the region’s implacable drive towards new technology adoption and advancement. Some of the prime factors driving the region’s market are increasing electronic goods sales, high disposable income, increasing demand for packaged foods, and demographic changes. Another key factor creating a spur in the market is the continuous demand for consumer durables, coupled with a rising trend of retail shopping in the USA. Europe and Asia-Pacific are also expected to offer substantial growth opportunities during the forecast period.
Who are the Key Players in the Market?
This report provides market intelligence most comprehensively. It also provides critical insights into the key players active in the market, which will enable strategic decision-making for the existing market players as well as those willing to enter the market. The following are the key players acting in the Thermoforming Plastics Market:
- Fabri-Kal Corp.
- Berry Global Inc.
- Genpak LLC
- Pactiv LLC
- D&W Fine Pack LLC
- Amcor Ltd.
- Dart Container Corp.
- Anchor Packaging
- Sabert Corporation
- Sonoco Products Company
Key questions answered by the report:
- What is the projected CAGR for revenue from the Thermoforming Plastics Market during the forecast period?
- What would the market be valued at by 2028?
- What is a major driving factor for the growth of the market?
- Which region accounted for the largest revenue share in the Thermoforming Plastics Market?
- Which are the major market players?
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