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Thermoformed Plastics Market to Reach $59.74 Billion by 2027; Extensive Use of Polypropylene in Food Packaging Products to Augment Growth

October 26, 2020 | Chemicals & Materials

The global thermoformed plastics market size is expected to reach USD 59.74 billion by 2027. The growing demand for in-mold labels in food packaging industries owing to its automated packaging techniques will spur opportunities for the market, mentioned in a report, titled “Thermoformed Plastics Market Size, Share & COVID-19 Impact Analysis, By Plastic Type (Polyethylene, Polypropylene, Polystyrene, Polyvinyl Chloride, Acrylonitrile butadiene styrene, Bio-degradable polymers), By Thermoforming Type (Vacuum Snapback, Thin Gauge Thermoforming, Thick Gauge Thermoforming, and Plug Assist Forming), By Application (Healthcare & Medical, Food Packaging, Electrical & Electronics, Automotive Packaging, Construction, Consumer Goods & Appliances), and Geography Forecast, 2020-2027.” The market size stood at USD 40.59 billion in 2019 and is predicted to exhibit a CAGR of 5.7% between 2020 to 2027.


Acquisition of Panoramic Inc by Anchor Packaging to Boost Growth


Anchor Packaging LLC, a major leader of food packaging announced that it has acquired Panoramic Inc, a leading manufacturer of thermoformed products used in fresh food applications, including bakery, produce, and confectionery based in Janesville, Wisconsin. The new development will help Anchor to position itself in the food industry owing to the diverse customer base of Panoramic. The emphasis on innovation, custom design, and velocity at Anchor Packaging will improve its business and prospects of becoming the biggest producer in the world. The acquisition is expected to broaden the offering of Anchor to attract bakery, produce, deli, and confectionery customers. Furthermore, it will also expand the capabilities to serve the needs of the customers, thus adding to the revenue of the company. The joint venture will benefit the companies in terms of opportunities, subsequently boosting the customer-centric innovative vision in the forthcoming years. Also, the new development is expected to create lucrative business openings for the market due to the growing demand for packaged food items.


To get a detailed report summary and research scope of this market, click here:


https://www.fortunebusinessinsights.com/thermoformed-plastics-market-104032


Stringent Environmental Regulations to Hamper Market Growth


The increasing environmental degradation including water pollution, soil degradation, solid waste pollution, chemical pollution, and reduced fossils due to the high use of plastics will create numerous problems for the market. The rising governmental policies and regulations to curb pollution will consequently restrict the adoption of plastics, in turn, hampering the growth of the market. The declined plastic production in developed nations owing to the stringent guidelines by governments. However, the growing use of thermoformed plastics in the automotive and construction industries will augur well for the market. Besides, the significant demand for ready-to-eat food will influence the healthy growth of the market.


Key Strategies Adopted by Main Companies to Reinforce Industry


The prominent players Fabri-Kal Corp., Pactiv LLC, Amcor Ltd., Berry Global Inc., and others are focused on product development, capacity enlargement, acquisition, and joint venture, and partnership to establish a strong foot in the market. For instance, Fabri-Kal announced that it has signed a partnership agreement with local companies for providing medical face shields during the pandemic, thus enhancing its presence and dominance in the market. Besides, the growing concentration on recycling by companies can have a tremendous impact on the market. For instance, in May 2020, Berry Global announced an innovative advanced recycling technology project with Mondelēz International.


The Report Lists the Main Companies in the Thermoformed Plastics Market:



  • Fabri-Kal Corp. (U.S.)

  • Pactiv LLC (U.S.)

  • Amcor Ltd. (Australia)

  • Berry Global Inc. (U.S.)

  • D&W Fine Pack LLC (U.S.)

  • Genpak LLC (U.S.)

  • Dart Container Corp. (U.S.)

  • Sabert Corporation (U.S.)

  • Anchor Packaging (U.S.)

  • Sonoco Products Company (U.S.)

  • C.M. Packaging (Netherlands)

  • Other Key Players


Further Report Findings:



  • Regional Analysis: Europe is expected to dominate the global market owing to the rising demand from end-use sectors. The rising automobile sales will aid growth in the region. The progressive food packaging industry is predicted to spur opportunities for the market in Europe.

  • Leading Segment: Polypropylene segment is expected to account for the largest share in the global market owing to the growing demand for PP for various applications in industries such as medical, food & beverages, automotive, and others. PP is a thermoplastic polymer that is extensively used for food packaging products which include trays, cups, sandwich packs, disposable products, and microwaveable containers


The Thermoformed Plastics Market is Segmented into:


















































ATTRIBUTES    



DETAILS



Study Period



 2016-2027



Base Year



  2019



Forecast Period



  2020-2027



Historical Period



  2016-2018



Unit



  Value (USD Billion); Volume (Million Ton)



Segmentation



  Plastic Type; Thermoforming Type; Application; and Geography



By Plastic Type


 




  • Polyethylene

  • Polypropylene

  • Polystyrene

  • Polyvinyl Chloride

  • Acrylonitrile Butadiene Styrene

  • Biodegradable Polymers

  • Others



By Thermoforming Type


 




  • Vacuum Snapback

  • Thin Gauge Thermoforming

  • Thick Gauge Thermoforming

  • Plug Assist Forming



By Application


 




  • Healthcare & Medical

  • Food Packaging

  • Electrical & Electronics

  • Automotive Packaging

  • Construction

  • Consumer Goods & Appliances

  • Others



By Geography


 




  • North America

    • By Plastic Type

    • By Thermoforming Type

    • By Application

    • By Country

      • The U.S.

        • By Application



      • Canada

        • By Application







  • Europe

    • By Plastic Type

    • By Thermoforming Type

    • By Application

    • By Country

      • Germany

        • By Application



      • UK

        • By Application



      • France

        • By Application



      • Italy

        • By Application



      • Spain

        • By Application



      • Poland

        • By Application



      • Rest of Europe

        • By Application







  • Asia Pacific

    • By Plastic Type

    • By Thermoforming Type

    • By Application

    • By Country

      • China

        • By Application



      • India

        • By Application



      • Japan

        • By Application



      • South Korea

        • By Application



      • Southeast Asia

        • By Application



      • Rest of Asia Pacific

        • By Application







  • Latin America

    • By Plastic Type

    • By Thermoforming Type

    • By Application

    • By Country

      • Brazil

        • By Application



      • Mexico

        • By Application



      • Rest of Latin America

        • By Application







  • Middle East & Africa

    • By Plastic Type

    • By Thermoforming Type

    • By Application

    • By Country

      • Saudi Arabia

        • By Application



      • Turkey

        • By Application



      • Egypt

        • By Application



      • Rest of Middle East & Africa

        • By Application








Global Thermoformed Plastics Market
  • PDF
  • 2019
  • 2016-2018
  • 100

    CHOOSE LICENSE TYPE

  • 4850
    6850
    8850

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