Global Thermoform Packaging Market

The report covers a detailed competitive outlook including the market share and company profiles of the key participants operating in the global thermoform packaging market. Thermoform packaging is a packaging process in which plastic sheets are heated to the desired temperature to form a specific shape in a mold and subsequently trimmed for packaging activities. The heat seal coating segment is further sub-segmented into the water-based coating, a hot melt based, and solvent-based. Thermoform packaging has been widely used as a part of protective packaging during material handling activities.Thermoform packaging has been widely used as a part of protective packaging during material handling activities. With material handling and logistics being a key constituent of the packaging industry, thermoform packaging plays a key role in the material handling activities across various industries.

The pharmaceutical segment is estimated to be the fastest-growing segment in 2016. These packaging by heat seal coatings can be segmented by solvent-based, water-based, hot-melt based. The market for thermoform packaging is expected to show high growth owing to increasing demand from end-use industries. Major end-use industries for thermoform packaging include food & agriculture, pharmaceuticals, electronics, home & personal care, and others.

In the global thermoforming market, the packaging industry is estimated to account for around 80% in terms of market value and is projected to show fast-paced growth owing to the high demand from evolving end-user industries such as food, pharmaceuticals, electrical & electronics. Thermoform packaging provides cleanliness and compartmentalization required by medical products that can safely hold parts in place and provide external protection.

Major plastics used in thermoform packaging include ABS (acrylonitrile butadiene styrene), HIPS, PVC, PETG, and others. However, with increasing regulations on the use of plastic materials, other materials have been increasingly preferred. Major plastic types include blister packaging, skin packaging, clamshell packaging, and others. These packaging by heat seal coatings can be segmented by solvent-based, water-based, hot-melt based. The market for thermoform packaging is expected to show high growth owing to increasing demand from end-use industries. Major end-use industries for thermoform packaging include food & agriculture, pharmaceuticals, electronics, home & personal care, and others.

The thermoform packaging market by region has been segmented by North America, Western Europe, Eastern Europe, Asia Pacific, Middle East, and Rest of the World. North America, Western Europe, and the Asia Pacific are estimated to be major regions for the thermoform packaging market during the forecast period. The high growth of supply chain activities to cater to various industries and the development of packaging solutions is key to the growth of the thermoform packaging market in this region. In addition to this development of cold chain systems to cater to perishable goods and government regulations on packaging waste disposal is also governing the demand for the thermoform packaging market in this region. Major industries in these regions are estimated to be food & agriculture, pharmaceuticals, electronics, home & personal care and others. The Asia Pacific amongst this with increasing trade activities and industrial growth is estimated to be one of the fastest-growing markets during the forecast period.

Companies Covered: Westrock Company, Anchor Packaging, Amcor Limited, Bemis Company, Inc., DS Smith PLC, Sonoco Products Company

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