Global United States Thermoformed Plastic Market Share Is Expected to Grow At A CAGR Value Of Around 5.91% By 2030

27-Apr-2023 | Facts and Factors

According to the Facts and Factors report, the global thermoformed plastic market size was valued around USD 3,500 million in 2022 and is expected to grow around USD 5,230 million by 2030 with a compound annual growth rate (CAGR) of approximately 5.91% between 2023 and 2030.

Thermoformed Plastic Market

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Thermoforming is a method for the manufacture of plastic goods in which thermoplastic surfaces of different sizes are placed, heated to softening temperature and air, vacuum or mechanically forced into the mold. Thermoformed plastic materials are primarily used for food and beverage, medical, aerospace and aviation devices, heavy-duty machinery and equipment, building and manufacturing, mass transportation, and the automotive industry. There are two types of products that are organic and biologically degradable.

Browse the full “United States Thermoformed Plastic Market By Type (Polyethylene (PE), Acrylonitrile butadiene styrene (ABS), Polyvinyl chloride (PVC), Polyethylene terephthalate (PET), Polystyrene (PS), and Others), and By Application (Food & Beverage, Healthcare, Consumer electronics, Living Goods, and Others): Industry Outlook, Market Size, Business Intelligence, Consumer Preferences, Statistical Surveys, Comprehensive Analysis, Historical Developments, Current Trends, and Forecasts, 2023–2030" https://www.fnfresearch.com/united-states-thermoformed-plastic-market-by-type-polyethylene-1258

Thermoformed plastic foods and beverages (F&Bs) are used for the packaging of items such as carcass, bovine goods, frozen foods, dairy products, drinks, snacks, and so on. Thermoformed plastics have become increasingly popular among end-users thanks to the benefits of cost and time savings, product quality, and ease of use.

The cost of thermoforming plastic products is around 10-15 percent lower compared to injection-molded plastic products. Furthermore, plastics thermoforming provides a wide variety of flexibility and variations to help manufacturers attractively package and market their products. These are the key reasons why thermoformed plastics are easily accepted with traditionally packaged products. Furthermore, global preferences are changing and customers tend to spend less time cooking meals and prefer to eat fast food or frozen food because of the increased urbanization and the rise in the number of employees.

There is also a growing market for bottled mineral water, bottled milk and carbonated beverages, and fruit juices. Market preferences are dramatically changing from unpacked food to prepared food. This aspect also leads to improved use of plastic thermoforming materials. In addition, the increasing retail sector of F&B in the form of supermarkets, grocery stores and hypermarkets, as well as a growing awareness of consumer food safety, also help to increase the global demand for thermoformed plastics for F&B.

Nevertheless, growing concern about recycling and disposal of plastic packaging goods and environmental concerns has resulted in numerous worldwide regulations about the use and disposal of plastic packaging objects. These changes act as an important constraint to growth in the global F&B market for thermoformed plastic products over the forecast period. In addition, the exact wall thickness of the product during the thermoforming process is difficult to achieve symmetrically, thereby adversely affecting product quality. The technical challenge is to force producers to seek to substitute thermoformed plastic containers, thus growing the global demand for thermoformed F&B products.

In 2022, the food & agriculture packing industries led the demand market of thermoforming plastics. This growth is mainly due to the high demand for packaged and branded products.

The PP dominates the global market for thermoforming plastics, on the basis of value. This is because of the plastic's widespread use in packaging applications such as food, medical devices, and automotive.

Report Scope

Report Attribute

Details

Market Size in 2022

USD 3,500 Million

Projected Market Size in 2030

USD 5,230 Million

CAGR Growth Rate

5.91% CAGR

Base Year

2022

Forecast Years

2023-2030

Key Market Players

Dart Container Corporation, Fabri-Kal, Pactiv, Anchor Packaging Inc., Genpak, LLC, D&W Fine Pack, Sonoco Products Company, Placon, and Others

Key Segment

By Type, Application, and Region

Major Regions Covered

North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa

Purchase Options

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Some of the leading players in the global market include

Dart Container Corporation, Fabri-Kal, Pactiv, Anchor Packaging Inc., Genpak, LLC, D&W Fine Pack, Sonoco Products Company, Placon, and Others.

This report segments the United States Thermoformed Plastic market as follows:

By Type Segmentation Analysis

  • Polyethylene (PE)
  • Acrylonitrile butadiene styrene (ABS)
  • Polyvinyl chloride (PVC)
  • Polyethylene terephthalate (PET)
  • Polystyrene (PS)
  • Others

By Application Segmentation Analysis

  • Food & beverage
  • Healthcare
  • Consumer electronics
  • Living goods
  • Others

By Regional Segmentation Analysis

  • North America
    • The U.S.
    • Canada
  • Europe
    • France
    • The UK
    • Spain
    • Germany
    • Italy
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • Southeast Asia
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • Middle East & Africa
    • GCC
    • South Africa
    • Rest of Middle East & Africa

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