DUBLIN--(BUSINESS WIRE)--The "Thin Wall Packaging Market by Product Type (Tubs, Cups, Jars, Trays, Clamshells, Lids, Pots), Production Process (Thermoforming, Injection Molding), Material (PP, PE, PET, PS, PVC), Application (Food, Beverages), and Region - Global Forecast to 2023" report has been added to ResearchAndMarkets.com's offering.
The thin wall packaging market is expected to grow from USD 42.8 billion in 2018 to USD 53.7 billion by 2023, at a CAGR of 4.64% during the forecast period.
The thin wall packaging market is driven by various factors, such as the growing demand from the food & beverage industry, increase in urban population, changes in lifestyles, and rise in disposable income. However, stringent regulations imposed on food packaging and its raw materials can hinder the growth of the market.
Polypropylene segment is expected to grow at the highest CAGR during the forecast period
The polypropylene segment is the fastest-growing in the thin wall packaging market, in terms of value. This is attributed to various benefits offered by polypropylene thin walled products such as high stiffness, heat resistance, steam barrier properties, elasticity, enhanced transparency, and strong impact and rigidity balance. Polyethylene terephthalate is projected to grow at the second-highest CAGR during the forecast period owing to its increasing application in the beverages application. Polystyrene, as a material for thin wall packaging, is projected to witness a decline in demand due to its negative environmental impact.
Injection molding segment is expected to hold the largest market share during the forecast period
The injection molding segment is expected to dominate the thin wall packaging market during the forecast period. This dominance is attributed to its numerous benefits, including faster production speed, increased productivity, lower cost of production, and uniformity. The thermoforming segment was the second-largest segment in the thin wall packaging market in 2017, in terms of volume.
Asia Pacific is expected to record the highest growth rate during the forecast period
The Asia Pacific is expected to have the highest growth rate during the forecast period. Key factors such as industrialization, growth in middle-class population, the rise in disposable income, ease of convenient & visible packaging, and the rise in demand for sustainable packed products are expected to drive the demand for thin wall packaging in the Asia Pacific during the forecast period.
Meanwhile, Europe is projected to hold the largest market share during the forecast period. This dominance is attributed to the increased demand for convenient, eco-friendly, visually appealing packaging, the rise in domestic demand for food products & exports, along with the expansion of retail chains in this region.
Market Dynamics
Drivers
- Growth of the Food & Beverage Industry
- Rise in Demand for Customer-Friendly and Lightweight Packaging
- Increase in Urban Population, Changes in Lifestyles, and Rise in Disposable Income
Restraints
- Stringent Regulations
Opportunities
- Emerging Markets
Challenges
- Recycling & Environmental Concerns
- Volatile Raw Material Prices
Key Topics Covered
1 Introduction
2 Research Methodology
3 Executive Summary
4 Premium Insights
5 Market Overview
6 Thin Wall Packaging Market, By Product Type
7 Thin Wall Packaging Market, By Production Process
8 Thin Wall Packaging Market, By Application
9 Thin Wall Packaging Market, By Material
10 Thin Wall Packaging Market, By Region
11 Competitive Landscape
12 Company Profiles
- Acmepak Plastic Packaging Co. Ltd.
- Amcor
- Berry Global Group
- Dampack International Bv
- Double H Plastics
- Frch Plast A/S
- Greiner Packaging International
- Groupe Guillin
- ILIP SRL
- Insta Polypack
- International Traders(Sanpac)
- JRD International
- Knauer Holding GmbH & Co. KG
- Mold-Tek Packaging
- Omniform Group
- Oosterbeek Packaging B.V.
- Paccor GmbH (Coveris RIGID)
- Plastipak Industries Inc.
- Reynolds Group Holdings
- RPC Group PLC
- Sem Plastik San. Tic. A.S.
- Shree Rama Multi-Tech Limited
- Silgan Holdings
- Sunrise Plastics
- Takween Advanced Industries
For more information about this report visit https://www.researchandmarkets.com/research/zx5zgl/thin_wall?w=4
