Industrial Thermoform Packaging Material Market Size, Industry Analysis Report, Regional Outlook, Application Development Potential, Price Trend, Competitive Market Share & Forecast, 2020 - 2026
Report ID: GMI2055
Industrial Thermoform Packaging Material Market size is anticipated to witness considerable growth owing to rising demand for packing material in food and beverage industry. Shifting preference toward the product over wood and glass owing to odour free, light, moist free and flexible properties will support product demand. The constituents are cost effective and quite versatile as these can be used in the various industries like pharmaceutical, food & beverage and electronics.
Changing lifestyle and improved living standards, are expected to boost demand for packaged and fresh food. These factors are expected to propel the industrial thermoform packaging material market size over the forecast period.
Industrial thermoform packaging materials are produced through thermoforming method. There are three types of thermoforming processes namely vacuum, mechanical and pressure. In thermoforming process, the plastic sheet is heat treated to a forming temperature and sent to the mould in order to get specified shape. With advancement in plastic supplies and manufacturing process, the requirement for industrial thermoform packaging has increased.
The advantages of industrial thermoform packaging materials are these are light weight, durable, cost effective, recyclable which makes it environmental friendly, and provide stiff support. Hence, it is preferred by several brand owners which in turn has fuelled up the product sales.
Volatility in raw material prices, strict government regulations and weight bearing capacity may restrain product market growth. The government regulations for usage and disposal of some products may hamper the product market growth. Further, the product has limited weight bearing capacity, thus it can fail during handling and transportation of heavy product.
On the basis of type, they are classified as blister, clamshell, skin and windowed. The blister packing will account for a major market share owing to their vast application in pharmaceutical industry. It prevents the contamination and exposure from external environment. In addition, increasing demand for product in food and beverage industry for packing certain products will fuel industry growth.
Based on heat seal coating, they are classified as solvent based, water based and hot-melt based heat seal coating. The solvent base heat seal coating will gain significant share in the industrial thermoform packaging material market as these have strong bond strength and resistance to water & grease and can be processed at various temperatures.
On the basis of raw material, they are classified into plastic, aluminium, paper and paperboard. The plastic hold a major share in the industrial packaging material market. ABS (Acrylonitrile Butadiene Styrene), HDPE (High Density Polyethylene), Acrylic PMMA (Polymethyl Methacrylate), PC (Polycarbonate), PVC (Polyvinly Choride), PP (Polypropylene), PS (Polystyrene), TPO (Thermoplastic Polyolefin), PET (Polyethylene Terephthalate) are frequently used plastics. Among these, PET has maximum share in overall industrial thermoform packaging material market owing to their extensive application in bottles manufacturing.
With respect to end use, these are classified into pharmaceuticals, food & beverage, home & personal care, electronics and components packaging. Among these, food & beverage segment account for significant share as product is widely used in food service, dairy, confectionary, packaging meat etc. Pharmaceutical has emerged as one of the fastest growing industrial thermoform packaging material market owing to requirement of prevention of medicines from contamination.
North America dominate the overall market, both in terms of volume and revenue generation owing to the presence of big retail brands and increase in consumption of packaged products. Europe market led by Germany and U.K. will witness significant growth rate owing to increasing development in regional food & beverage and pharmaceutical industry. Asia Pacific region also expects noteworthy growth with the rise in manufacturing industry and large consumer base over the forecast period.
The key players in the industrial thermoform packaging material market are Amcor, Placon, Bemis Company, Display Pack, Westrock Company, D Smith, E.I. Du Pont Nemours, Pactiv, and Sonoco Products. Amcor Limited is adopting mergers and acquisition strategy to gain the share in the industrial thermoform packaging material market. It has recently acquired Plastic moulders limited, a Toronto based moulding company.
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