DUBLIN--(BUSINESS WIRE)--Research and Markets has announced the addition of the "Thermoformed Plastics Market Analysis By Product, By Process, By Application (Healthcare, Food Packaging, Electrical & Electronics, Automotive, Construction, Consumer Goods), And Segment Forecasts, 2014 - 2025" report to their offering.
The global thermoformed plastics market is expected to reach USD 16.28 billion by 2025
Globally, increasing demand for medical and pharmaceutical products has been a major factor driving market growth. Also, growing healthcare industry has led to rising demand for thermoformed plastics.
Rising demand in various application sectors including food packaging, automotive, healthcare & medical, electrical & electronics, construction, and consumer goods & appliances owing to cost efficient nature is projected to propel the market over the coming years. Rapid industrialization, infrastructural, and medical activities is anticipated to augment the market growth from 2017 to 2025.
Thermoforming is a process where a sheet of plastic is heated to make it flexible then fabricated and molded in required shape to make it a usable product. Different methods used for processing thermoformed plastics are thin gauge thermoforming, thick gauge thermoforming, plug assist forming, and vacuum snapback.
Thin gauge thermoforming was projected to be the largest segment over the forecast period with a market share of 35% in terms of revenue in 2016. High labor cost and fluctuation raw material prices are major factors which negatively impact the market growth. Asia Pacific is the fastest growing segment with potential growth opportunities. Rising demand from industries such as automotive, medical, food packaging, construction, and pharmaceuticals in this region is expecting to boost the market over the forecast period.
North America is expected to observe the significant regional segment over the next eight years with an estimated CAGR in terms of revenue of around 4.8% from 2017 to 2025. Increasing manufacturers and suppliers of thin gauge thermoforming plastics in this region such as Placon, Vitalo, Peninsula Plastics, among others is anticipated to spur the market growth.
Key players including Pactiv LLC, D&W Fine Pack LLC, Genpak LLC, and Sonoco Plastics dominated the global thermoformed plastics market accounting for significant share of the total volume in 2016
Key Topics Covered:
1 Methodology and Scope
2 Executive Summary
3 Thermoformed Plastics Market Variables, Trends & Scope
4 Thermoformed Plastics Market: Product Estimates & Trend Analysis
5 Thermoformed Plastics Market: Process Estimates & Trend Analysis
6 Thermoformed Plastics Market: Application Estimates & Trend Analysis
7 Thermoformed Plastics Market: Regional Estimates & Trend Analysis
8 Competitive Landscape
9 Company Profiles
- Pactiv LLC
- Peninsula Packaging
- CM Packaging
- Placon Corporation
- Genpak LLC
- Anchor packaging
- Associated Packaging Technologies
- Zhuhai Zhongfu Enterprise
- Greiner Packaging
For more information about this report visit https://www.researchandmarkets.com/research/hsk68m/thermoformed