Global Thermoform Packaging Market is Set For a Rapid Growth And is Expected To Reach Around USD 51,510.00 Million by 2024

13-Jun-2018 | Zion Market Research

Zion Market Research has published a new report titled “Thermoform Packaging Market by Material (Plastics (Polyvinyl Chloride (PVC), Polyethylene Terephthalate (PET), Polyethylene (PE), Polystyrene (PS), Polypropylene (PP), Acrylonitrile Butadiene Styrene (ABS), and Others), Paper & Paperboard, Aluminum, and Others); by Heat Seal Coating (Water Based, Hot Melt Based, and Solvent Based); by Packaging Type (Blister Card Packaging (Full Face Seal, Trapped Blister, Face Seal, and Others), Clamshell Packaging, Skin Packaging, and Others); by End-user (Pharmaceuticals, Food and Beverages, Electronics, Consumer Goods, and Others): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2017-2024’’. According to the report, global thermoform packaging market was valued at around USD 35,536.12 million in 2017 and is expected to reach approximately USD 51,510.00 million in 2024, growing at a CAGR of slightly above 5.45% between 2018 and 2024.

The process of manufacturing of thermoplastic sheets with the application of pressure and heat in a mold is called as thermoforming. The packaging material made by the thermoforming process is known as thermoform packaging. 

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Increase in the application of thermoform packaging in pharmaceutical and food & beverages packaging industry compel the growth of the global thermoform packaging market. Thermoform packages are odor-free, light, moisture-free, and flexible, and therefore it is preferred over glass and wood. The thermoform packaging is cost effective in nature and also reduces the packaging waste as they are easy to dispose of. Due to these greater superior properties, the demand for thermoform packaging is anticipated to grow in the coming years. Moreover, growing urbanization in developing economies and increase in consumer preference towards fresh and packaged food is expected to accelerate the growth of thermoforming packaging market globally. 

Browse the full "Thermoform Packaging Market by Material (Plastics (Polyvinyl Chloride (PVC), Polyethylene Terephthalate (PET), Polyethylene (PE), Polystyrene (PS), Polypropylene (PP), Acrylonitrile Butadiene Styrene (ABS), and Others), Paper & Paperboard, Aluminum, and Others); by Heat Seal Coating (Water Based, Hot Melt Based, and Solvent Based); by Packaging Type (Blister Card Packaging (Full Face Seal, Trapped Blister, Face Seal, and Others), Clamshell Packaging, Skin Packaging, and Others); by End-user (Pharmaceuticals, Food and Beverages, Electronics, Consumer Goods, and Others): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2017-2024"                                                                                                 report at https://www.zionmarketresearch.com/report/thermoform-packaging-market

However, the thermoform packaging is not supportive efficient for heavy packaging, this may hamper the growth of the overall market. Moreover, fluctuation in raw material cost, increasing concern regarding disposal, and recycling of plastic may affect the growth of thermoform packaging market over the forecast period. 

Global Thermoform Packaging Market
 
The continuous advancement in thermoformed technology, growing demand for lightweight packaging, and growing investment in R&D activities are expected to generate immense opportunity opportunities for thermoform packaging market in the future years. 

The thermoform packaging market can be segmented as material, heat seal coating, packaging type, end user, and by region. By type, the thermoforming packaging market is segmented into plastics, paper & paperboard, aluminum, and others. In 2017, the plastic accounted for the major share in the global thermoform packaging market by material in terms of value and volume. The plastic material segment is further sub-segmented into polyvinyl chloride (PVC), polyethylene terephthalate (PET), polyethylene (PE), polystyrene (PS), polypropylene (PP), acrylonitrile butadiene styrene (ABS), and Others. 

By heat seal coating Tthe global thermoform market by heat seal coating is segmented into the water-based coating, hot melt based, and solvent based. Among the coating type, the water-based heat seal coating segment is expected to register high CAGR in the forecast period coming years. By forming a film bond between the polyethylene skin pack and corrugated films, the water-based coating reduces adhesion challenges of thermoform packaging, and hence the demand for such coating is growing at a rapid pace. 

The water-based coating reduces adhesion challenges of thermoform packaging by forming a film bond between polyethylene skin pack and corrugated films. 

The global -  thermoform packaging market by type of packaging is further segmented into blister card packaging, clamshell packaging, skin packaging, and others. Among them, the blister card packaging segment accounted has estimated to registered for the high share in terms of value and volume in the global thermoform packaging market in 2017.

On the basis of the end user, the global thermoform packaging market is segmented into pharmaceuticals, food and beverages, electronics, consumer goods, and others. The food and beverages industry accounted for the largest share of the global thermoform market in 2017. 

Prominent players in the global thermoform packaging market are Bemis Company, Inc., Amcor Limited, WestRock Company, DS Smith Plc., E.I. du Pont de Nemours and Company, Constantia Flexibles GmbH, Anchor Packaging, Constantia Flexibles GmbH, Sonoco Products Company, G. Mondini S.p.A, Tekni-Pplex Inc., and Display Pack Inc., among others.

The report segments global thermoform packaging market as follows:

Global Thermoform Packaging Market: Material Segment Analysis

  • Plastics 
    • Polyvinyl Chloride (PVC)
    • Polyethylene Terephthalate (PET)
    • Polyethylene (PE)
    • Polystyrene (PS)
    • Polypropylene (PP)
    • Acrylonitrile Butadiene Styrene (ABS)
    • Others
  • Paper & Paperboard 
  • Aluminum
  • Others

Global Thermoform Packaging Market: Heat Seal Coating Segment Analysis

  • Water Based 
  • Hot Melt Based
  • Solvent Based

Global Thermoform Packaging Market: Packaging Type Segment Analysis

  • Blister Card Packaging
    • Full Face Seal, 
    • Trapped Blister, 
    • Face Seal, 
    • Others
  • Clamshell Packaging
  • Skin Packaging
  • Others

Thermoform Packaging Market: End-User Segment Analysis

  • Pharmaceuticals
  • Food and Beverages
  • Electronics
  • Consumer Goods
  • Others

Thermoform Packaging Market: Regional Segment Analysis

  • North America
    • The U.S.
  • Europe
    • UK
    • France
    • Germany
  • Asia Pacific
    • China
    • Japan
    • India
  • Latin America
    • Brazil
  • The Middle East and Africa

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