Product Segment Analysis by Application:
Food packaging division is accounted as the substantial division in past year. In some of the key regions thermoformed plastic is majorly used by the food industry for packaging of vegetables, confectionery products, fruits, meat, poultry, fish in addition to prepared meals & storage products.
In healthcare thermoformed packaging involves medical packing which is appropriate for the medical device as well as pharmaceutical manufacturers. The packing products used in medical and healthcare sector involves protective packaging, procedure trays, pharmaceutical packing and medical trays.
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Automotive division emerged as one of the fastest growing division in past few years. Moreover, increasing usage of products of this segment is probable to fuel the growth of the global thermoformed plastic market over the forecast period.
Additionally, raw materials used in manufacturing of thermoformed plastic products are bio-degradable polymers, acrylics, acrylonitrile, polycarbonates, butadiene styrene (ABS), polyvinyl chloride (PVC), polypropylene (PP), polystyrene (PS), polyethylene (PE), polymethyl methacrylate (PMMA).
Overview of Thermoformed plastic market:
North America is the leading thermoformed plastics market topographical division (where U.S. is the largest market followed by Canada) as well as valued for xx% of the total revenue in the past year. Rapid industrialization as well as rising packaging industry is focused to propel the global thermoformed plastic market over the forecast period. On the other hand rising manufacturers & suppliers of thermoformed plastic products is projected to boost the growth of the thermoformed plastic industry.
The global thermoformed plastic market size has been accounted for xx kilo tons in past years and is anticipated to rise at a CAGR of xx% over the forecast period. Moreover, some of the major players operating the competitive landscape of the thermoformed plastic market across the globe of are Anchor Packaging, Inc., Pactiv, LLC., Associated Packaging, Ltd., Placon Group, Peninsula Packaging Company, LLC., Berry Plastics, Clear Lam Packaging, CM Packaging, Graham Packaging, Huhtamaki Group, Silgan Plastics, D&W Fine Pack, Spencer Industries, Greiner Packaging, Brentwood Industries.
Asia Pacific is anticipated to be the fastest growing topographical region and was the accounted for around xx% of the total thermoformed plastic market share in revenue in historical year. Amongst the others in this region Chine is one of the leading producer & supplier in the market by using different types of equipment and technologies.
Thermoformed plastic products are prepared by fabrication of plastic sheets so that it becomes flexible. Plastics can be thermoformed through a number of procedures including plug assist forming, thin and thick gauge thermoforming.
Thick gauge thermoforms are strong and stiff enclosures which are mostly used to pack electronic device. They are used in large range of applications which includes rear and front bumpers, internal form parts in dash components, heavy truck industry, cowlings, engine covers & cab interiors in construction equipment industry, weights in fitness equipment and enclosures for thread mills.
Thin gauge thermoforming plastics had dominated the thermoforming plastics industry in past years and is anticipated to be the leading process segment for the next 5 years. The techniques used for product manufacturing under the process involves radiant, contact and hot air heating. However, the rising demand for certain products including medical device packaging products of healthcare segment is projected to push the market over the forecast period.
Plug assist form is the fast growing process division over the forecast period. Moreover, intensifying use of these products in food packaging is the major reason responsible for driving the market. In addition, packaging product in this segment are made with uniform wall thickness through reduced starting gauge enabling product safety as well as content storage.
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Polypropylene- is one of the important segment with approximately xx% market share and is probable to witness a health growth over the duration of next five years. It is a thermoplastic polymer which is mostly used in production of food packaging products like margarine tubs, trays, sandwich packs, cups, beverage glasses, microwaveable containers and disposable products.
Polymethyl methacrylate (PMMA) – Increasing usage of PMMA due to its huge service life, high surface hardness and intense light transmission with various characteristics like UV light resistance and weathering this product division is predicted to grow the market. The recycling nature by ignoring security and wastage of natural resources is the important driver for the rise in the use of the product.
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