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/EIN News/ — Dublin, Oct. 10, 2019 (GLOBE NEWSWIRE) — The "Thermoforming Plastic Market by Plastic Type (PP, PS, PET, PE, PVC, Bio-plastics, ABS), Thermoforming Type (Vacuum Formed, Pressure Formed, Mechanical Formed), Parts Type (Thin Gauge, Thick Gauge), End-use Industry, and Region – Global Forecast to 2024" report has been added to ResearchAndMarkets.com's offering.
The thermoforming plastic market is expected to grow from USD 34.8 billion in 2019 to USD 45.9 billion by 2024, at a CAGR of 5.7% during the forecast period.
New product launches leading to an increased application scope of thermoforming plastic as well as the growing usage of these products across various end-use industries, including food & agriculture packaging, healthcare & pharmaceutical, construction, electrical & electronics, automotive packaging & structures, consumer goods & appliances, are expected to augment the market growth. However, the non-suitability of thermoforming plastic for the packaging of heavy items is the major factor restraining the growth of the market.
Automotive packaging & structures is the fastest-growing end-use industry of thermoforming plastic, in terms of value
Thermoforming plastic is gaining importance in the automotive packaging & structures end-use industry. Thermoformed plastic parts in the automotive sector are durable, reusable, and can be customized in any color. These parts do not require painting. Thermoformed parts are strong and can be reinforced. Some other properties include lightweight, easy to clean, and chemical resistance. Some of the major applications include dashboard assemblies, interior door panels, seating parts, engine bay paneling, exterior body panels, bumpers, air ducts, pickup truck bed liners, wheel well liners, truck liners, floor mats, and cargo mats.
The vacuum forming thermoforming plastic segment accounted for a major share of the thermoforming plastic market, in terms of value, during the forecast period
The global thermoforming plastic market is projected to be dominated by the vacuum forming thermoforming plastic segment, in terms of both value and volume during the forecast period. Vacuum forming is cost-effective, provides quicker tooling, and has the ability to form very large parts. This process also allows for sharper details, undercuts, mold-in-texture, and has tighter tolerances. Whereas pressure forming process is used mostly for complex shapes. The mechanical forming process is used rarely for thermoforming plastic.
North America is the largest, and APAC is the fastest-growing thermoforming plastic market
North America is the largest region in the thermoforming plastic market due to the high demand for thermoformed structural parts and thermoformed packaging from automotive, food & agriculture packaging, consumer goods & appliances, and healthcare industries. North America is home to some of the prominent thermoforming plastic manufacturers such as Pactiv LLC, Sonoco Products Company, D&W Fine Pack LLC, and so on. APAC is the fastest-growing region as the growing population presents a huge customer base for FMCG products and consumer durables, which in turn is expected to lead to the growth of the thermoforming plastic market.
Key Topics Covered
1 Introduction
2 Research Methodology
3 Executive Summary
4 Premium Insights
4.1 Attractive Opportunities in the Thermoforming Plastic Market
4.2 Thermoforming Plastic Market, By Parts Type
4.3 Thermoforming Plastic Market, By Thermoforming Type
4.4 Thermoforming Plastic Market Size, By Plastic Type
4.5 Thermoforming Plastic Market, By End-Use Industry and Region
4.6 Thermoforming Plastic Market, By Country
5 Market Overview
5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers
5.2.1.1 Growing Demand From Food Packaging Industry
5.2.1.2 Growing Demand From Healthcare & Pharmaceutical Industry
5.2.1.3 Reduced Packaging Waste
5.2.1.4 Cost Effectiveness
5.2.2 Restraints
5.2.2.1 Not Supportive to Package Heavy Items
5.2.3 Opportunities
5.2.3.1 Increasing Demand of In-Mold Labelling in Packaging
5.2.3.2 Potential Opportunities for Thermoforming Plastic in Emerging Economies
5.2.3.3 Investment in R&D Activities
5.2.4 Challenges
5.2.4.1 Compliance With Stringent Regulations
5.3 Porter's Five Forces Analysis
5.3.1 Threat of New Entrants
5.3.2 Threat of Substitutes
5.3.3 Bargaining Power of Suppliers
5.3.4 Bargaining Power of Buyers
5.3.5 Intensity of Competitive Rivalry
6 Macroeconomic Overview and Key Trends
6.1 Introduction
6.2 Trends and Forecast of GDP
6.3 Trends in Aerospace Industry
6.4 Trends in Automotive Industry
7 Thermoforming Plastic Market, By Plastic Type
7.1 Introduction
7.2 Polypropylene (PP)
7.3 Polystyrene (PS)
7.4 Polyethylene Terephthalate (PET)
7.5 Polyethylene (PE)
7.6 Poly Vinyl Chloride (PVC)
7.7 Bio-Plastics
7.8 Acronytrile Butadiene Styrene (ABS)
7.9 Others
8 Thermoforming Plastic Market, By Thermoforming Type
8.1 Introduction
8.2 Vacuum Forming
8.3 Pressure Forming
8.4 Mechanical Forming
9 Thermoforming Plastic Market, By Parts Type
9.1 Introduction
9.2 Thin Gauge
9.3 Thick Gauge
10 Thermoforming Plastic Market, By End-Use Industry
10.1 Introduction
10.2 Food & Agriculture Packaging
10.3 Consumer Goods & Appliances
10.4 Healthcare & Pharmaceutical
10.5 Construction
10.6 Electrical & Electronics
10.7 Automotive Packaging & Structures
10.8 Others
11 Thermoforming Plastic Market, By Region
11.1 Introduction
11.2 North America
11.2.1 US
11.2.1.1 Increasing Sales of Consumer Durables and the Presence of Large Thermoforming Plastic Manufacturers in the US are Driving the Market
11.2.2 Canada
11.2.2.1 Flourishing Food & Beverage and Consumer Durables Industries are Propelling the Market
11.3 Europe
11.3.1 Germany
11.3.1.1 Large Food Processing Industry is A Major Driving Factor for the Thermoforming Plastic Market in Germany
11.3.2 UK
11.3.2.1 High Spending on Healthcare Sector is Fueling the Market Growth in the UK
11.3.3 France
11.3.3.1 Large Electrical & Electronics and Automotive Industries in the Country is Helping the Market Growth
11.3.4 Italy
11.3.4.1 Growth of Major End-Use Industries, Including Consumer Goods & Appliances and Electrical & Electronics is Expected to Support the Market Growth
11.3.5 Netherlands
11.3.5.1 Thermoforming Plastic Finds Wide Use in the Netherlands Food & Agriculture Packaging and Healthcare & Pharmaceutical Packaging Industries
11.3.6 Rest of Europe
11.4 APAC
11.4.1 China
11.4.1.1 Growing Food & Beverages Industry and Large Population are Expected to Drive the Market
11.4.2 Japan
11.4.2.1 Technology Advancements and Large Retail Industry are the Two Major Factors That are Driving the Market
11.4.3 India
11.4.3.1 Rising Middle-Class Population, Rapid Industrialization, Continuous Influx of Multinational Companies Will Influence the Market Positively
11.4.4 Australia
11.4.4.1 Rising Consumption of Packed Foods and Presence of Prominent Thermoforming Plastic Manufacturers Will Influence the Market Positively
11.4.5 South Korea
11.4.5.1 Heavy Investment in Automotive and Consumer Electronics Sectors is Anticipated to Increase Thermoforming Plastic Consumption
11.4.6 Rest of Asia-Pacific
11.5 Latin America
11.5.1 Brazil
11.5.1.1 Advantages Associated With Use of Thermoforming Plastic is Driving the Market
11.5.2 Mexico
11.5.2.1 Increasing Demand From Automotive and Electrical & Electronics Industries is Expected to Drive the Market
11.5.3 Argentina
11.5.3.1 Rapid Urbanization is Fueling the Thermoforming Plastic Market Growth
11.6 Middle East & Africa (MEA)
11.6.1 South Africa
11.6.1.1 The Growth of the Middle-Class Population is Increasing the Demand for Thermoforming Plastic
11.6.2 UAE
11.6.2.1 High Investments in Infrastructure Projects and Changing Consumer Preferences are Driving the Market
11.6.3 Saudi Arabia
11.6.3.1 Large Middle-Class Population is Driving the Market
12 Competitive Landscape
12.1.1 Partnerships
12.1.2 Expansions
12.1.3 New Product Launches
12.1.4 Acquisitions
13 Competitive Landscape
13.1 Introduction
13.1.1 Dynamic Differentiators
13.1.2 Innovators
13.1.3 Visionary Leaders
13.1.4 Emerging Companies
13.2 Competitive Benchmarking
1.3.1 Product Offering
1.3.2 Business Strategy
13.2.1 Market Ranking
14 Company Profiles
14.1 Pactiv LLC
14.1.1 Business Overview
14.1.2 Products Offered
14.1.3 Recent Developments
14.1.4 Pactiv LLC: SWOT Analysis
14.2 Amcor Limited
14.3 Dart Container Corporation
14.4 Sonoco Products Company
14.5 D&W Fine Pack LLC
15 Company Profiles
15.1 Sabert Corporation
15.1.1 Business Overview
15.1.2 Products Offered
15.1.3 Recent Developments
15.2 Genpak LLC
15.3 Fabri-Kal Corporation
15.4 Anchor Packaging
15.5 Berry Global Group Inc.
15.6 Other Key Players
15.6.1 Consolidated Container Company
15.6.2 Brentwood Industries
15.6.3 Placon Corporation
15.6.4 Winpak Ltd.
15.6.5 Spencer Industries Incorporated
15.6.6 Display Pack Inc.
15.6.7 Greiner Packaging International GmbH
15.6.8 Penda Corporation
15.6.9 Huntamaki
15.6.10 Zhuhai Zhongfu Enterprise Co. Limited
For more information about this report visit https://www.researchandmarkets.com/r/r1j7fl
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