IMARC Group, a leading market research company, has recently released a report titled “Thermoformed Plastics Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028.” The study provides a detailed analysis of the industry, including the global thermoformed plastics market share, size, trends, and growth forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.

What Are The Growth Prospects Of The Thermoformed Plastics Industry?

According to the report, The global thermoformed plastics market size reached US$ 42.2 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 59.2 Billion by 2028, exhibiting a growth rate (CAGR) of 5.5% during 2023-2028.

What is Thermoformed Plastics?

Thermoformed plastics are materials made from the thermoforming process wherein plastic sheets are heated and converted into an elastic form that can be molded into the desired shape. They can also be processed through plug assist forming, thick and thin gauge thermoforming, and vacuum snapback techniques. As a result, they are used in the manufacturing of automotive dashboards, interior panels, seats, air ducts, bumpers, light fixtures, industrial equipment, medical devices, and electrical panels.

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What are the growth prospects and trends in the Thermoformed Plastics industry?

The increasing utilization of effective packaging solutions in various end use industries represents one of the key factors driving the market. Moreover, thermoformed plastics are widely used in the retail processing of clamshell packaging, packaging inserts, packaging blisters, and shipping trays. Apart from this, as thermoformed plastics act as a barrier against bacteria, moisture, and pungent odor, they are employed in the food and beverage (F&B) industry for sealing products and increasing their shelf life. Furthermore, thermoformed plastics are gaining traction in the construction sector for manufacturing concrete, flooring, and furniture on account of their rigidity, leakage resistance, and long-lasting properties.

What is included in market segmentation?

The report has segmented the market into the following categories:

Breakup by Product:

• Polymethyl Methacrylate (PMMA)
• Bio-degradable Polymers
• Polyethylene (PE)
• Acrylonitrile Butadiene Styrene (ABS)
• Poly Vinyl Chloride (PVC)
• High Impact Polystyrene (HIPS)
• Polystyrene (PS)
• Polypropylene (PP)

Breakup by Process:

• Plug Assist Forming
• Thick Gauge Thermoforming
• Thin Gauge Thermoforming
• Vacuum Snapback

Breakup by Application:

• Healthcare and Medical
• Food Packaging
• Electrical and Electronics
• Automotive Packaging
• Construction
• Consumer Goods and Appliances
• Others

Breakup by Region:

• North America (United States, Canada)
• Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
• Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
• Latin America (Brazil, Mexico, Others)
• Middle East and Africa

Who are the key players operating in the industry?

The report covers the major market players including:

• Amcor plc
• Anchor Packaging LLC
• Berry Global Inc
• Brentwood Industries Inc
• D&W Fine Pack
• Dart Container Corporation
• Fabri-Kal Corp. (Two Mitts Inc.)
• Genpak LLC (C-P Flexible Packaging)
• Greiner Packaging GmbH
• Pactiv LLC
• Placon Corporation
• Sabert Corporation
• Sonoco Products Company

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