Global Thermoformed Plastics Market Report 2022: Sector to Reach $60 Billion in 2028 at a CAGR of 7% : Research and Markets

DUBLIN, March 21, 2023 /PRNewswire/ -- The "Global Thermoformed Plastics Market Size, Segments, Outlook, and Revenue Forecast 2022-2028 by Product Type, Thermoforming Type, Thickness, End-User, and Region" report has been added to  ResearchAndMarkets.com's offering.

According to this analysis, the Global Thermoformed Plastics Market was valued at ~US$ 30 billion in 2017. It is estimated to be ~US$ 40 billion in 2022 and is forecasted to reach a market size of ~US$ 60 billion, growing at a CAGR of ~7% due to the increasing usage in healthcare and food packaging sectors.

Thermoforming is a plastic manufacturing process that applies a vacuum or pressure force to stretch a sheet of heated thermoplastic material over an engineered mold to create a 3-dimensional shape or part. After forming, the shaped part is trimmed and finished to a specification to meet an end user's requirements. The process and thermoplastic materials are extremely versatile and can be utilized to manufacture parts for a wide range of applications.

Rising demand for effective packaging solutions across all the major industries is the key factor responsible for the growth of the market. Thermoformed plastics are most commonly used to make clamshell packages, package blisters, mailer trays, retail package liners, and many others. The wide acceptance of these products is fuelling market growth.

Furthermore, thermoformed plastics are also used in the infrastructure and automotive industries. In building and infrastructure, thermoformed plastics are used mainly for insulation applications, whereas in automotive, it has applications in interior and exterior body parts of automobiles.

The major challenge faced by the market is the volatile prices of the raw materials used for making thermoformed plastics. Hydrocarbon fuels such as crude oil, natural gas, and coal are the most common primary sources of thermoformed plastics.

The regulations over the preservation of natural resources act as a restraining factor for the market. Social upheaval in major crude oil-producing countries, including Libya, Venezuela, Nigeria, Iran, and Iraq, has harmed crude oil production, causing demand and supply irregularities. These factors have a short-term impact on the market, causing prices to drop and rise quickly.

COVID-19 had a detrimental influence on the thermoformed plastics market growth and demand, owing to a worldwide halt in manufacturing operations. The restrictions on supply and transport have impacted the market globally. The pandemic and resulting lockdowns disrupted supply chains on both supply and demand sides, which negatively impacted many manufacturing and service industries such as consumer goods, packaging, agriculture, and others.

According to the Government of Canada's Monthly Survey of Manufacturing, 2021, manufacturing sales declined 2.10% to US$ 57.10 billion in April 2021. The market is expected to exhibit significant growth in the forecast period due to surging demand for thermoformed plastics products in the healthcare and pharmaceutical industries

Key Topics Covered:

1. Executive Summary

2. Market Overview and Key Trends Impacting Growth
2.1 Global Thermoformed Plastics Market Taxonomy
2.2 Industry Value Chain
2.3 The Ecosystem of Major Entities in the Global Thermoformed Plastics Market
2.4 Government Regulations & Developments
2.5 Key Growth Drivers & Challenges Impacting the Market
2.6 COVID-19 Impact on Global Thermoformed Plastics Market
2.7 Total Thermoformed Plastics Market Historic Growth by Segment Type, 2017-2021
2.7.1 By Product Type
2.7.2 By Thermoforming Type
2.7.3 By Thickness
2.7.4 By End-User
2.7.5 By Region
2.8 Total Global Thermoformed Plastics Market Historic Growth and Forecast, 2017-2028
2.9 Key Takeaways

3. Global - Market Segmentation by Product Type, Historic Growth, Outlook & Forecasts
3.1 Market Definition - Segmentation by Product Type
3.2 Market Revenue Share, Historic Growth, Outlook, and Forecasts by Product Type, 2017-2028
3.2.1 Polymethyl Methacrylate (PMMA)
3.2.2 Bio-degradable polymers
3.2.3 Polyethylene (PE)
3.2.4 Acrylonitrile Butadiene Styrene (ABS)
3.2.5 Poly Vinyl Chloride (PVC)
3.2.6 High Impact Polystyrene (HIPS)
3.2.7 Polystyrene (PS)
3.2.8 Polypropylene (PP)
3.3 Key Takeaways from Market Segmentation by Product Type

4. Global - Market Segmentation by Thermoforming Type, Historic Growth, Outlook & Forecasts
4.1 Market Definition - Segmentation by Thermoforming Type
4.2 Market Revenue Share, Historic Growth, Outlook, and Forecasts by Thermoforming Type, 2017-2028
4.2.1 Vacuum Forming
4.2.2 Pressure Forming
4.3 Key Takeaways from Market Segmentation by Thermoforming Type

5. Global - Market Segmentation by Thickness, Historic Growth, Outlook & Forecasts
5.1 Market Definition - Segmentation by Thickness
5.2 Market Revenue Share, Historic Growth, Outlook, and Forecasts by Thickness, 2017-2028
5.2.1 Thin Gauge
5.2.2 Thick Gauge
5.3 Key Takeaways from Market Segmentation by Thickness

6. Global - Market Segmentation by End-User, Historic Growth, Outlook & Forecasts
6.1 Market Definition - Segmentation by End-User
6.2 Market Revenue Share, Historic Growth, Outlook, and Forecasts by End-User, 2017-2028
6.2.1 Food Packaging
6.2.2 Agriculture Packaging
6.2.3 Consumer goods & appliances
6.2.4 Healthcare & Pharmaceutical
6.2.5 Construction
6.2.6 Electrical & electronics
6.2.7 Automotive Packaging & Structures
6.3 Key Takeaways from Market Segmentation by End-User

7. Industry/Competition Analysis - Competitive Landscape

8. Key Competitor Profiles (Company Overview, Product Offerings, and Strengths & Weaknesses Analysis)
8.1 D&W Fine Pack.
8.2 Genpak LLC
8.3 Greiner Packaging
8.4 Pactiv LLC
8.5 Placon
8.6 Silgan Holdings Inc.
8.7 Sonoco Products Company
8.8 Dongguan Ditai Plastic Products Co.,Ltd
8.9 SPENCER INDUSTRIES INCORPORATED
8.10 Berry Global Inc.

9. Geographic Analysis & Major Countries Market Historic Growth, Outlook, and Forecasts

10. Industry Expert's Opinions/Perspectives
10.1 Notable Statements/Quotes from Industry Experts and C-Level Executives on Current Status and Future Outlook of the Market

11. Analyst Recommendation
11.1 Analyst Recommendations on Identified Major Opportunities and Potential Strategies to Gain from Opportunities

12. Appendix

For more information about this report visit https://www.researchandmarkets.com/r/8mfdwn

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