Thermoformed Plastics Market to grow by USD 10,489.78 million from 2022 to 2027|Diverse applications of thermoformed plastics boosts the market growth - Technavio

NEW YORK, July 20, 2023 /PRNewswire/ -- The thermoformed plastics market size is set to grow by USD 10,489.78 million between 2022 and 2027 and register an accelerating CAGR of  5.28%, according to Technavio's latest market research report estimates. With a focus on identifying dominant industry influencers, Technavio's reports present a detailed study by the way of synthesis, and summation of data from multiple sources. This report offers an up-to-date analysis of the current market scenario, the latest trends and drivers, and the overall market environment. Read our Sample Report

The report also covers the following areas:

• Thermoformed Plastics Market size
• Thermoformed Plastics Market trends
• Thermoformed Plastics Market industry analysis

Thermoformed Plastics Market 2023-2027: Segmentation

• Type 
• Vacuum Formed
• Pressure Formed
• Application 
• Food Packaging
• Medical
• Consumer Products
• Others
• Geography 
• APAC
• North America
• Europe
• Middle East And Africa
• South America

The market share growth by the vacuum formed segment is significant during the forecast period. Some of the key end-users of this segment include aerospace, automotive, and packaging. The main applications of the vacuum-formed segment in the aerospace industry include specialized packaging to keep the tool organized. Other various applications of this segment include the manufacturing of seating necessities such as armrests, footwell trays, seat backs, and tray tables, as well as cabin components like big bulkhead separators. Hence, such applications are expected to fuel the growth of the vacuum-formed segment which in turn will drive the thermoformed plastics market during the forecast period.

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Thermoformed Plastics Market 2023-2027: Vendor Analysis and Scope

The market is fragmented, and the degree of fragmentation will accelerate during the forecast period. To help businesses improve their market position, the thermoformed plastics market provides a detailed analysis of around 15+ vendors operating in the market.  Some of the vendors of the thermoformed plastics market include Allied Plastics Inc., Amcor Plc, Anchor Packaging LLC, Berry Global Inc., Brentwood Industries Inc., Coveris Management GmbH, D and W Fine Pack, Dart Container Corp., Dordan Manufacturing Co., Fabri Kal Corp., Greiner Packaging International GmbH, JJR ENGINEERING and FABRICATION, Lindar Corp., Penda, Placon Corp., Reynolds Group Ltd., Sabert Corp., Sonoco Products Co., The Jim Pattison Group, and Winpak Ltd.

Vendor Offerings

• Anchor Packaging LLC: The company offers thermoformed plastics that are used for making performance a 360 leak-resistant food container which is available in a variety of sizes and shapes.
• Berry Global Inc: The company offers thermoformed plastics that are used for making drink cups and lids to meet takeaway drinks requirements including clear, decorated, souvenir, disposable, and reusable varieties.
• Coveris Management GmbH: The company offers thermoformed plastics that include containers that are easy to open, easy to close, and are a cost-effective option for reclosable packaging.

Thermoformed Plastics Market 2023-2027: Market Dynamics

Key Drivers

Wide applications of thermoformed plastics drive the thermoformed plastics market growth during the forecast period. Some of the key end-user industries which use thermoformed plastics include medical, automotive, and construction industries. The main application of thermoformed plastics is that they are widely used for manufacturing medical disposables and components of medical devices, including medical imaging enclosures, diagnostic equipment components, medical bins, and medical trays. Similarly, thermoformed plastics have various applications in the automotive industry, where they are used for manufacturing sturdy and durable components such as bumpers, air ducts, dashboard assembly, and engine bay panels. Hence, the increasing adoption of thermoformed plastics across several industries in many countries, such as China, India, Indonesia, and Brazil is expected to drive the thermoformed plastics market growth during the forecast period.

Major Trends

The utilization of recycled plastics in thermoform packaging applications is a primary trend in the thermoformed plastics market. The process of collecting waste or scrap plastic and reprocessing it to produce finished products is referred to as recycling of plastic. There is rising use of recycled plastic materials to manufacture thermoformed packaging products which is expected to have a positive impact on the market growth during the forecast period. Due to several concerns, such as environmental degradation caused by improper plastic waste management, it is expected to have an increase in demand for recycled plastics. In the US, the Food and Drug Administration (FDA) permits the use of recycled PET fibers to manufacture thermoformed plastics.  Hence, such factors are expected to drive the thermoformed plastics market growth during the forecast period.

Significant Challenge

Stringent regulations and policies are one of the significant challenges impeding the thermoformed plastics market growth. Several regulative authorities, such as the EPA and Registration, Evaluation, Authorisation, and Restriction of Chemicals (REACH), are enforcing rules and regulations on the use of thermoformed plastics in F and B packaging and medical devices. Additionally, the European Union (EU) has established a framework for the usage of plastics for indirect food additives. Furthermore, thermoformed plastics which are widely used for medical purposes, should comply with the prescribed quality standards laid down by the respective regulatory authority. Hence, such stringent regulations are expected to restrict the use of thermoformed plastics for different applications, which can turn can, hinder the thermoformed plastics market growth during the forecast period.

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Thermoformed Plastics Market 2023-2027: Key Highlights

• CAGR of the market during the forecast period 2023-2027
• Detailed information on factors that will assist thermoformed plastics market growth during the next five years
• Estimation of the thermoformed plastics market size and its contribution to the parent market
• Predictions on upcoming trends and changes in consumer behavior
• The growth of the thermoformed plastics market
• Analysis of the market's competitive landscape and detailed information on vendors
• Comprehensive details of factors that will challenge the growth of thermoformed plastics market vendors

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Table of Contents

1 Executive Summary

• 1.1 Market overview
• Exhibit 01: Executive Summary – Chart on Market Overview
• Exhibit 02: Executive Summary – Data Table on Market Overview
• Exhibit 03: Executive Summary – Chart on Global Market Characteristics
• Exhibit 04: Executive Summary – Chart on Market by Geography
• Exhibit 05: Executive Summary – Chart on Market Segmentation by Type
• Exhibit 06: Executive Summary – Chart on Market Segmentation by Application
• Exhibit 07: Executive Summary – Chart on Incremental Growth
• Exhibit 08: Executive Summary – Data Table on Incremental Growth
• Exhibit 09: Executive Summary – Chart on Vendor Market Positioning

2 Market Landscape

• 2.1 Market ecosystem
• Exhibit 10: Parent market
• Exhibit 11: Market Characteristics

3 Market Sizing

• 3.1 Market definition
• Exhibit 12: Offerings of vendors included in the market definition

• 3.2 Market segment analysis 
• Exhibit 13: Market segments

• 3.3 Market size 2022

• 3.4 Market outlook: Forecast for 2022-2027 
• Exhibit 14: Chart on Global - Market size and forecast 2022-2027 ($ million)
• Exhibit 15: Data Table on Global - Market size and forecast 2022-2027 ($ million)
• Exhibit 16: Chart on Global Market: Year-over-year growth 2022-2027 (%)
• Exhibit 17: Data Table on Global Market: Year-over-year growth 2022-2027 (%)

4 Historic Market Size

• 4.1 Global thermoformed plastics market 2017 - 2021 
• Exhibit 18: Historic Market Size – Data Table on Global thermoformed plastics market 2017 - 2021 ($ million)

• 4.2 Type Segment Analysis 2017 - 2021 
• Exhibit 19: Historic Market Size – Type Segment 2017 - 2021 ($ million)

• 4.3 Application Segment Analysis 2017 - 2021 
• Exhibit 20: Historic Market Size – Application Segment 2017 - 2021 ($ million)

• 4.4 Geography Segment Analysis 2017 - 2021 
• Exhibit 21: Historic Market Size – Geography Segment 2017 - 2021 ($ million)

• 4.5 Country Segment Analysis 2017 - 2021 
• Exhibit 22: Historic Market Size – Country Segment 2017 - 2021 ($ million)

5 Five Forces Analysis

• 5.1 Five forces summary
• Exhibit 23: Five forces analysis - Comparison between 2022 and 2027

• 5.2 Bargaining power of buyers 
• Exhibit 24: Chart on Bargaining power of buyers – Impact of key factors 2022 and 2027

• 5.3 Bargaining power of suppliers 
• Exhibit 25: Bargaining power of suppliers – Impact of key factors in 2022 and 2027

• 5.4 Threat of new entrants 
• Exhibit 26: Threat of new entrants – Impact of key factors in 2022 and 2027

• 5.5 Threat of substitutes 
• Exhibit 27: Threat of substitutes – Impact of key factors in 2022 and 2027

• 5.6 Threat of rivalry
• Exhibit 28: Threat of rivalry – Impact of key factors in 2022 and 2027

• 5.7 Market condition
• Exhibit 29: Chart on Market condition - Five forces 2022 and 2027

6 Market Segmentation by Type

• 6.1 Market segments
• Exhibit 30: Chart on Type - Market share 2022-2027 (%)
• Exhibit 31: Data Table on Type - Market share 2022-2027 (%)

• 6.2 Comparison by Type
• Exhibit 32: Chart on Comparison by Type
• Exhibit 33: Data Table on Comparison by Type

• 6.3 Vacuum formed - Market size and forecast 2022-2027 
• Exhibit 34: Chart on Vacuum formed - Market size and forecast 2022-2027 ($ million)
• Exhibit 35: Data Table on Vacuum formed - Market size and forecast 2022-2027 ($ million)
• Exhibit 36: Chart on Vacuum formed - Year-over-year growth 2022-2027 (%)
• Exhibit 37: Data Table on Vacuum formed - Year-over-year growth 2022-2027 (%)

• 6.4 Pressure formed - Market size and forecast 2022-2027 
• Exhibit 38: Chart on Pressure formed - Market size and forecast 2022-2027 ($ million)
• Exhibit 39: Data Table on Pressure formed - Market size and forecast 2022-2027 ($ million)
• Exhibit 40: Chart on Pressure formed - Year-over-year growth 2022-2027 (%)
• Exhibit 41: Data Table on Pressure formed - Year-over-year growth 2022-2027 (%)

• 6.5 Market opportunity by Type 
• Exhibit 42: Market opportunity by Type ($ million)
• Exhibit 43: Data Table on Market opportunity by Type ($ million)

7 Market Segmentation by Application

• 7.1 Market segments
• Exhibit 44: Chart on Application - Market share 2022-2027 (%)
• Exhibit 45: Data Table on Application - Market share 2022-2027 (%)

• 7.2 Comparison by Application 
• Exhibit 46: Chart on Comparison by Application
• Exhibit 47: Data Table on Comparison by Application

• 7.3 Food packaging - Market size and forecast 2022-2027 
• Exhibit 48: Chart on Food packaging - Market size and forecast 2022-2027 ($ million)
• Exhibit 49: Data Table on Food packaging - Market size and forecast 2022-2027 ($ million)
• Exhibit 50: Chart on Food packaging - Year-over-year growth 2022-2027 (%)
• Exhibit 51: Data Table on Food packaging - Year-over-year growth 2022-2027 (%)

• 7.4 Medical - Market size and forecast 2022-2027 
• Exhibit 52: Chart on Medical - Market size and forecast 2022-2027 ($ million)
• Exhibit 53: Data Table on Medical - Market size and forecast 2022-2027 ($ million)
• Exhibit 54: Chart on Medical - Year-over-year growth 2022-2027 (%)
• Exhibit 55: Data Table on Medical - Year-over-year growth 2022-2027 (%)

• 7.5 Consumer products - Market size and forecast 2022-2027 
• Exhibit 56: Chart on Consumer products - Market size and forecast 2022-2027 ($ million)
• Exhibit 57: Data Table on Consumer products - Market size and forecast 2022-2027 ($ million)
• Exhibit 58: Chart on Consumer products - Year-over-year growth 2022-2027 (%)
• Exhibit 59: Data Table on Consumer products - Year-over-year growth 2022-2027 (%)

• 7.6 Others - Market size and forecast 2022-2027 
• Exhibit 60: Chart on Others - Market size and forecast 2022-2027 ($ million)
• Exhibit 61: Data Table on Others - Market size and forecast 2022-2027 ($ million)
• Exhibit 62: Chart on Others - Year-over-year growth 2022-2027 (%)
• Exhibit 63: Data Table on Others - Year-over-year growth 2022-2027 (%)

• 7.7 Market opportunity by Application 
• Exhibit 64: Market opportunity by Application ($ million)
• Exhibit 65: Data Table on Market opportunity by Application ($ million)

8 Customer Landscape

• 8.1 Customer landscape overview 
• Exhibit 66: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

9 Geographic Landscape

• 9.1 Geographic segmentation 
• Exhibit 67: Chart on Market share by geography 2022-2027 (%)
• Exhibit 68: Data Table on Market share by geography 2022-2027 (%)

• 9.2 Geographic comparison 
• Exhibit 69: Chart on Geographic comparison
• Exhibit 70: Data Table on Geographic comparison

• 9.3 APAC - Market size and forecast 2022-2027 
• Exhibit 71: Chart on APAC - Market size and forecast 2022-2027 ($ million)
• Exhibit 72: Data Table on APAC - Market size and forecast 2022-2027 ($ million)
• Exhibit 73: Chart on APAC - Year-over-year growth 2022-2027 (%)
• Exhibit 74: Data Table on APAC - Year-over-year growth 2022-2027 (%)

• 9.4 North America - Market size and forecast 2022-2027 
• Exhibit 75: Chart on North America - Market size and forecast 2022-2027 ($ million)
• Exhibit 76: Data Table on North America - Market size and forecast 2022-2027 ($ million)
• Exhibit 77: Chart on North America - Year-over-year growth 2022-2027 (%)
• Exhibit 78: Data Table on North America - Year-over-year growth 2022-2027 (%)

• 9.5 Europe - Market size and forecast 2022-2027 
• Exhibit 79: Chart on Europe - Market size and forecast 2022-2027 ($ million)
• Exhibit 80: Data Table on Europe - Market size and forecast 2022-2027 ($ million)
• Exhibit 81: Chart on Europe - Year-over-year growth 2022-2027 (%)
• Exhibit 82: Data Table on Europe - Year-over-year growth 2022-2027 (%)

• 9.6 Middle East and Africa - Market size and forecast 2022-2027 
• Exhibit 83: Chart on Middle East and Africa - Market size and forecast 2022-2027 ($ million)
• Exhibit 84: Data Table on Middle East and Africa - Market size and forecast 2022-2027 ($ million)
• Exhibit 85: Chart on Middle East and Africa - Year-over-year growth 2022-2027 (%)
• Exhibit 86: Data Table on Middle East and Africa - Year-over-year growth 2022-2027 (%)

• 9.7 South America - Market size and forecast 2022-2027 
• Exhibit 87: Chart on South America - Market size and forecast 2022-2027 ($ million)
• Exhibit 88: Data Table on South America - Market size and forecast 2022-2027 ($ million)
• Exhibit 89: Chart on South America - Year-over-year growth 2022-2027 (%)
• Exhibit 90: Data Table on South America - Year-over-year growth 2022-2027 (%)

• 9.8 US - Market size and forecast 2022-2027 
• Exhibit 91: Chart on US - Market size and forecast 2022-2027 ($ million)
• Exhibit 92: Data Table on US - Market size and forecast 2022-2027 ($ million)
• Exhibit 93: Chart on US - Year-over-year growth 2022-2027 (%)
• Exhibit 94: Data Table on US - Year-over-year growth 2022-2027 (%)

• 9.9 China - Market size and forecast 2022-2027 
• Exhibit 95: Chart on China - Market size and forecast 2022-2027 ($ million)
• Exhibit 96: Data Table on China - Market size and forecast 2022-2027 ($ million)
• Exhibit 97: Chart on China - Year-over-year growth 2022-2027 (%)
• Exhibit 98: Data Table on China - Year-over-year growth 2022-2027 (%)

• 9.10 India - Market size and forecast 2022-2027 
• Exhibit 99: Chart on India - Market size and forecast 2022-2027 ($ million)
• Exhibit 100: Data Table on India - Market size and forecast 2022-2027 ($ million)
• Exhibit 101: Chart on India - Year-over-year growth 2022-2027 (%)
• Exhibit 102: Data Table on India - Year-over-year growth 2022-2027 (%)

• 9.11 Germany - Market size and forecast 2022-2027 
• Exhibit 103: Chart on Germany - Market size and forecast 2022-2027 ($ million)
• Exhibit 104: Data Table on Germany - Market size and forecast 2022-2027 ($ million)
• Exhibit 105: Chart on Germany - Year-over-year growth 2022-2027 (%)
• Exhibit 106: Data Table on Germany - Year-over-year growth 2022-2027 (%)

• 9.12 UK - Market size and forecast 2022-2027 
• Exhibit 107: Chart on UK - Market size and forecast 2022-2027 ($ million)
• Exhibit 108: Data Table on UK - Market size and forecast 2022-2027 ($ million)
• Exhibit 109: Chart on UK - Year-over-year growth 2022-2027 (%)
• Exhibit 110: Data Table on UK - Year-over-year growth 2022-2027 (%)

• 9.13 Market opportunity by geography 
• Exhibit 111: Market opportunity by geography ($ million)
• Exhibit 112: Data Tables on Market opportunity by geography ($ million)

10 Drivers, Challenges, and Trends

• 10.1 Market drivers

• 10.2 Market challenges

• 10.3 Impact of drivers and challenges 
• Exhibit 113: Impact of drivers and challenges in 2022 and 2027

• 10.4 Market trends

11 Vendor Landscape

• 11.1 Overview

• 11.2 Vendor landscape
• Exhibit 114: Overview on Criticality of inputs and Factors of differentiation

• 11.3 Landscape disruption
• Exhibit 115: Overview on factors of disruption

• 11.4 Industry risks
• Exhibit 116: Impact of key risks on business

12 Vendor Analysis

• 12.1 Vendors covered
• Exhibit 117: Vendors covered

• 12.2 Market positioning of vendors 
• Exhibit 118: Matrix on vendor position and classification

• 12.3 Anchor Packaging LLC
• Exhibit 119: Anchor Packaging LLC - Overview
• Exhibit 120: Anchor Packaging LLC - Product / Service
• Exhibit 121: Anchor Packaging LLC - Key offerings

• 12.4 Berry Global Inc.
• Exhibit 122: Berry Global Inc. - Overview
• Exhibit 123: Berry Global Inc. - Business segments
• Exhibit 124: Berry Global Inc. - Key news
• Exhibit 125: Berry Global Inc. - Key offerings
• Exhibit 126: Berry Global Inc. - Segment focus

• 12.5 Coveris Management GmbH 
• Exhibit 127: Coveris Management GmbH - Overview
• Exhibit 128: Coveris Management GmbH - Product / Service
• Exhibit 129: Coveris Management GmbH - Key offerings

• 12.6 D and W Fine Pack
• Exhibit 130: D and W Fine Pack - Overview
• Exhibit 131: D and W Fine Pack - Product / Service
• Exhibit 132: D and W Fine Pack - Key offerings

• 12.7 Dart Container Corp.
• Exhibit 133: Dart Container Corp. - Overview
• Exhibit 134: Dart Container Corp. - Product / Service
• Exhibit 135: Dart Container Corp. - Key offerings

• 12.8 Dordan Manufacturing Co. 
• Exhibit 136: Dordan Manufacturing Co. - Overview
• Exhibit 137: Dordan Manufacturing Co. - Product / Service
• Exhibit 138: Dordan Manufacturing Co. - Key offerings

• 12.9 Fabri Kal Corp.
• Exhibit 139: Fabri Kal Corp. - Overview
• Exhibit 140: Fabri Kal Corp. - Product / Service
• Exhibit 141: Fabri Kal Corp. - Key offerings

• 12.10 Greiner Packaging International GmbH 
• Exhibit 142: Greiner Packaging International GmbH - Overview
• Exhibit 143: Greiner Packaging International GmbH - Product / Service
• Exhibit 144: Greiner Packaging International GmbH - Key offerings

• 12.11 Lindar Corp.
• Exhibit 145: Lindar Corp. - Overview
• Exhibit 146: Lindar Corp. - Product / Service
• Exhibit 147: Lindar Corp. - Key offerings

• 12.12 Penda
• Exhibit 148: Penda - Overview
• Exhibit 149: Penda - Product / Service
• Exhibit 150: Penda - Key offerings

• 12.13 Placon Corp.
• Exhibit 151: Placon Corp. - Overview
• Exhibit 152: Placon Corp. - Product / Service
• Exhibit 153: Placon Corp. - Key offerings

• 12.14 Reynolds Group Ltd.
• Exhibit 154: Reynolds Group Ltd. - Overview
• Exhibit 155: Reynolds Group Ltd. - Product / Service
• Exhibit 156: Reynolds Group Ltd. - Key offerings

• 12.15 Sonoco Products Co.
• Exhibit 157: Sonoco Products Co. - Overview
• Exhibit 158: Sonoco Products Co. - Business segments
• Exhibit 159: Sonoco Products Co. - Key offerings
• Exhibit 160: Sonoco Products Co. - Segment focus

• 12.16 The Jim Pattison Group 
• Exhibit 161: The Jim Pattison Group - Overview
• Exhibit 162: The Jim Pattison Group - Product / Service
• Exhibit 163: The Jim Pattison Group - Key offerings

• 12.17 Winpak Ltd.
• Exhibit 164: Winpak Ltd. - Overview
• Exhibit 165: Winpak Ltd. - Business segments
• Exhibit 166: Winpak Ltd. - Key offerings
• Exhibit 167: Winpak Ltd. - Segment focus

13 Appendix

• 13.1 Scope of the report

• 13.2 Inclusions and exclusions checklist 
• Exhibit 168: Inclusions checklist
• Exhibit 169: Exclusions checklist

• 13.3 Currency conversion rates for US$ 
• Exhibit 170: Currency conversion rates for US$

• 13.4 Research methodology
• Exhibit 171: Research methodology
• Exhibit 172: Validation techniques employed for market sizing
• Exhibit 173: Information sources

• 13.5 List of abbreviations 
• Exhibit 174: List of abbreviations

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