About Thermoformed Plastics
Plastic thermoforming is a plastic manufacturing process that applies a force (Vacuum or pressure) to stretch a sheet of heated thermoplastic material over an engineered mold to create a 3-dimensional shape or part (forming). After forming, the shaped part can then be trimmed and finished to specification to meet an end user’s requirements. Plastic thermoformed parts are commonly used to replace fabricated sheet metal components and also offer some unique advantages over parts constructed with fiber reinforced plastics and resin transfer molded manufacturing process.
Attributes | Details |
---|
Study Period | 2020-2032 |
Base Year | 2024 |
Unit | Value (USD Million) |
CAGR | 5.3% |
Thermoformed Plastic is a fragmented market due to the presence of various players. The players are focusing on strategic activities like partnerships, mergers, and acquisitions which will help them to sustain in the market and maintain their competitive edge. Analyst at AMA Research estimates that United States Vendors will contribute the maximum growth to Global Thermoformed Plastics market throughout the forecasted period. Established and emerging Vendors should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Fabri-kal Corp, Berry Global Inc., Genpak Llc, Pactive LLC, D&W Fine Pack LLC, Sonoco Plastics, Placon Corporation, Anchor Packaging, Spencer Industries, Silgan Plastics, CM Packaging, Greiner Packaging, Allied Plastics LLC., Amcor Plc and Anchor Packaging LLC are some of the key players that are part of study coverage. Additionally, the Vendors which are also part of the research coverage are Dart Container Corp. (United States), Sabert Corporation (United States), Woodstock Plastics Co. (United States) and Others.
Segmentation Overview
AMA Research has segmented the market of Global Thermoformed Plastics market by Type (Polyethylene Terephthalate (PET), Polymethyl Methacrylate (PMMA), Polyvinyl Chloride (PVC), Polyethylene (PE), Polypropylene (PP) and Others) and Region.
On the basis of geography, the market of Thermoformed Plastics has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by Process, the sub-segment i.e. Vacuum Forming will boost the Thermoformed Plastics market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by End User, the sub-segment i.e. Packaging will boost the Thermoformed Plastics market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Increasing adoption of bio based plastics in thermoforming. and Exploration of integrating 3D printing technologies in thermoforming process.
Market Growth Drivers:
Increased use of thermoformed plastic in packaging industries. and Thermoforming allows for easy customization.
Challenges:
Alternative methods available in market such as blow molding, injection molding and polymer casting
Restraints:
High initial tooling cost
Opportunities:
Expansion in emerging market. and Technological advancement in thermoforming
Market Leaders and their expansionary development strategies
In December 2021, EV acquired Paramount Plastics. Joining Empowered Ventures reinforces Paramount’s commitment to excellent service and quality and enables the company to continue expanding its capabilities. With the acquisition, paramount employee’s join the Empowered Ventures, brings strategic assistance and resources to support Paramount’s continued growth and success.
In November 2023, Coveris launched new thermoforming film for medical packaging. Coveris built entire strategy around a vision of no waste because believe that fighting waste in all its forms the driving force behind a more sustainable future.
Key Target Audience
Thermoformed Plastic Manufacturer, Research and Development, Investor, Regulatory Bodies and Others
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.