How Has The Computer Vision in Thermoforming Plastic Market Size Evolved In Recent Years?
The thermoforming plastic market has seen considerable growth due to a variety of factors.
• The market size for thermoforming plastic has seen robust growth in the past few years. The value will escalate from $51.78 billion in 2024 to $55.19 billion in 2025, marking a compound annual growth rate (CAGR) of 6.6%.
Factors such as climbing demand for consumer durables, heightened emphasis on hygiene and product safety, increased application of thermoformed plastics in the healthcare industry, and the impact of the COVID-19 pandemic significantly contributed to the growth experienced in the historical period.
What is the Market Size Forecast for the Thermoforming Plastic Market?
The thermoforming plastic market is expected to maintain its strong growth trajectory in upcoming years.
• In the coming years, the thermoforming plastic market is predicted to experience significant growth, expanding to a value of $78.57 billion by 2029 with a CAGR of 9.2%.
This growth during the forecast period is due to factors such as the increased demand for packaged food, a surge in online retail sales, escalating urbanization, and growing disposable incomes. The main trends projected over this period encompass a concentration on environmentally friendly plastic packaging, modified atmosphere packaging (map), advancements in 3D printing technology, technological innovations, strategic collaborations, and an emphasis on boosting investments.
What Are The Key Drivers Fueling Growth In The Thermoforming Plastic Market?
The escalating need for long-lasting consumer goods is anticipated to boost the expansion of the thermoforming plastic market in the future. Consumer durables, which are items expected to last over three years and are utilized over time, are typically manufactured using thermoforming plastic. Therefore, a surge in their demand will correspondingly raise the need for thermoforming plastic. For example, a report by the Indian Brand Equity Foundation, an export promotion agency of the Indian government, projects that the consumer durables industry will hit a market value of USD34 billion by 2025. As a result, the rising demand for consumer durables is likely to spur the growth of the thermoforming plastic market.
What Are The Major Segments Within The Thermoforming Plastic Market?
The thermoforming plastic market covered in this report is segmented –
1) By Thermoforming Type: Vacuum Forming, Pressure Forming, Mechanical Forming
2) By Plastic Type: Polyethylene, Polypropylene, Polystyrene, Polyvinyl Chloride, Acrylonitrile Butadiene Styrene, Bio-Degradable Polymers, Other Plastic Types
3) By Application: Healthcare And Medical, Food Packaging, Electrical And Electronics, Automotive Packaging, Construction, Consumer Goods And Appliances, Other Applications
Subsegments:
1) By Vacuum Forming: Thin-Gauge Vacuum Forming, Thick-Gauge Vacuum Forming
2) By Pressure Forming: High-Pressure Forming, Low-Pressure Forming
3) By Mechanical Forming: Plug Assist Forming, Drape Forming, Matched Mold Forming
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Which Trends Are Expected To Transform The Thermoforming Plastic Market?
Leading enterprises in the thermoforming plastic market are integrating state-of-the-art manufacturing techniques to boost production efficiency and sustainability, catering to the increasing need for environmentally-friendly packaging solutions across diverse sectors. Cutting-edge thermoforming and slit-and-fold techniques are revolutionary methods of forming materials such as PET, which result in the efficient creation of high-quality packaging. These methods augment flexibility in design and sustainability by enabling the utilization of recycled materials and minimizing manufacturing waste. For instance, in September 2024, Origin Materials, a US-based Chemical company, unveiled its exclusive CapFormer System, marking the world's first commercial-scale production solution for making PET caps and closures. This inventive system applies advanced thermoforming and slit-and-fold technology to effectively manufacture PET caps, with the strategic aim of reshaping the packaging industry by facilitating 100% recycling of PET materials from container to container.
Who Are the Key Players in the Thermoforming Plastic Market?
Major companies operating in the thermoforming plastic market include:
• Amcor plc
• Pactiv Evergreen Inc
• Berry Global Inc.
• Sonoco Products Company
• Huhtamaki Global
• Dart Container Corporation
• Sabert Corp
• D&W Fine Pack
• Graham Packaging Company
• Genpak LLC
• S.D. International Pvt. Ltd
• Europack Machines Pvt. Ltd
• Zibo Tianheng Nano New Materials Technology Co. Ltd.
• Shandong Top Leader Plastic Packing Co Ltd
• Indu Thermoformers Pvt. Ltd
• Dongguan DiTai Plastic Products CO. Ltd
• Pulixin Packaging Materials
• Plas Tech Ltd
• Thermoform Ltd
• Daventry Thermoforming Ltd
• DS Smith
• COEXPAN
• Kiefel GmbH
• Piovan Group
• AD Plastik Group
• FORTY
• Ina Plastics
• JV RosanPak Ltd
• Silgan Plastics
• Placon Corporation
• Fabri-Kal Corp
• Anchor Packaging
• Sealed Air
• Kruger Inc.
• Mondi Group
• Matritech S.A.C
• ACEBRI
• SABIC Innovative Plastics
• Takween Advanced Industries Co
• Al Wasl Pack
• Mapal Plastics
• Lovell Industries
• Sasol Polymers
• Berry Astrapak
• Powerking Plastics
What Is The Most Dominant Region In The Thermoforming Plastic Market?
North America was the largest region in the thermoforming plastic market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the thermoforming plastic market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
