FMI predicts that thermoforming films are an effective solution for storage of food products, and have gained popularity within a short span of time. As per the study, the market for thermoforming films is projected to be valued at US$ 542 Million in 2022. During the 2022 to 2032 forecast period, a CAGR of 3.7% is anticipated for the industry, with an expected valuation of US$ 781 Million in 2032.
| Data Points | Key Statistics |
|---|---|
| Market Value in 2022 | US$ 542 Million |
| Market Value in 2032 | US$ 781 Million |
| Growth Rate (2022 to 2032) | 3.7% CAGR |
Thermoforming is a method of forming plastic sheets. These sheets are available in a variety of thicknesses, depending on the product type. Thinner sheets of plastic are referred to as films. Thermoforming films are essential for the creation of many common consumer goods.
Thermoforming films provide long shelf life, strong sealing capability, printability, and lightweight packaging. These films are easier to carry. They also incur less expenses for transportation of beverages vis-à-vis rigid packaging.
Increasing demand for packed food items and various other products is inspiring packaging manufacturers for to utilize their resources for achieving better & economical packaging solutions to gain the competitive advantage in the market.
A report from Future Market Insights suggests that thermoforming films are an effective solution for storage of food products which have gained popularity in packaging industry within a short span of time. The type and design of the thermoforming films can be easily obtained according to the industrial requirement by changing the thickness of the thermoforming sheet.
Applications of Thermoforming Film
Thermoforming film is used to create a variety of everyday products, such as:
Advantages of Thermoforming
There are some advantages traditionally associated with thermoforming:
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Increasing demand for packed food items and various other products is inspiring packaging manufacturers for to utilize their resources for achieving better & economical packaging solutions to gain the competitive advantage in the market.
In thermoforming process, thermoforming films are transformed into the desired design of molds either by pressure molding or vacuum forming technology. Thermoforming technology is suitable for manufacturing of PA/EVOH based multilayer films and containers thus providing efficient packaging solution without hampering the barrier properties of the packaging.
Thermoforming films are an effective solution for storage of food products which has helped thermoforming films to gain popularity in packaging industry within a short span of time. The type and design of the thermoforming films can be easily obtained according to the industrial requirement by changing the thickness of the thermoforming sheet.
To tap the growing potential of the packaging industry packaging manufacturers are exploiting their resources for providing better packaging solutions to its customers. Thermoforming films is one such packaging solution used by packaging manufacturers for filling the gap in economical packaging in the flexible and rigid packaging market. World packaging market is estimated to around US$ 827 Bn and expected to grow at a CAGR of over 4% over the forecast period.
The use of containers manufactured from thermoforming films provides bulk packaging solutions for food and medical industry is one of the key drivers for the thermoforming film's market. Products packed in thermoforming films have the higher turnover ratio as they are packed in transparent films and have higher product visibility without compromising with the barrier properties of the packaging.
Thermoforming films are puncture resistance which enables manufacturers to use their products for packaging of sharp products while increasing the area of application for thermoforming films market. Some other new developments such as the entrance of thermoforming films suitable for microwave cooking is supporting the growth in thermoforming films market.
However, plastic being the most used raw material for manufacturing of the thermoforming films there are speculations against the use of thermoforming films for packaging of food products which may limit its growth.
The increase in the usage of environment-friendly products can hamper the growth of thermoforming films market. However, on the backdrop of rapid growth in flexible packaging, the demand in thermoforming films market may have new opportunities.
Principal Consultant
Regionally global thermoforming films market is segmented into
APEJ is expected to be the largest and the fastest-growing segment in the world region attributed to the rapid industrialization in the region. North America is the largest precipitate consumer of goods in the world is expected to follow APEJ region in thermoforming films market.
Latin America is expected to grow rapidly over the forecast period. Western & Eastern Europe are expected to grow moderately over the forecast period. MEA despite being the smallest region in thermoforming films market is expected to grow rapidly over the forecast period
Some key players of the thermoforming film's market are Vecom Group, Vishakha Polyfab Pvt. Ltd, Klöckner Pentaplast, DuPont, Soretrac (UK) Limited, SKY-LIGHT A/S, Hypac Packaging Pte Ltd., Peiyu Plastics Corporation, AVI Global Plast., vivavak.mk, Verstraete in mold labels, Synpac Limited, F.H.P. PAK Sp. z o.o., Clifton Packaging Group Limited, Welch Fluorocarbon Inc, RapidMade, Inc. and FLAIR Flexible Packaging Corporation.
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The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain . The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments.
The report also maps the qualitative impact of various market factors on market segments and geographies.
Thermoforming films market is segmented by material type, by end use, and by end-use industry.
Based on the material type, thermoforming films market is be segmented into:
Based on the end use, thermoforming films market is be segmented into:
Based on the end use industry, thermoforming films market is be segmented into:
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Thermoforming Films Market
