Sunday, January 29, 2023
  • About Us
  • Contact Us
KsaWeekly.com
  • News
  • Business
  • Finance
  • Technology
  • Lifestyle
  • Middle East
  • Press Release
Submit a News Release
No Result
View All Result
KsaWeekly.com
Submit PR
Home Press Release

Thermoforming Plastic Market worth $45.9 billion by 2024

Press Room by Press Room
June 24, 2022
in Press Release
Thermoforming Plastic Market worth $45.9 billion by 2024
Share on FacebookShare on Twitter


 


(EMAILWIRE.COM, June 24, 2022 ) The report “Thermoforming Plastic Market by Plastic Type (PP, PS, PET, PE, PVC, Bio-plastics, ABS), Thermoforming Type (Vacuum Formed, Pressure Formed, Mechanical Formed), Parts Type (Thin Gauge, Thick Gauge), End-use Industry, and Region – Global Forecast to 2024″ The thermoforming plastic market size is expected to grow from USD 34.8 billion in 2019 to USD 45.9 billion by 2024, at a CAGR of 5.7% during the forecast period. The thermoforming plastic industry is growing due to the rising healthcare & pharmaceuticals and food & agriculture packaging industries and increasing manufacturing activities. The increasing popularity of retail shopping and rising consumer spending for processed & packed goods are fuelling the demand for thermoforming plastic. The growing demand from food packaging and healthcare & pharmaceutical industries are the major drivers for the market.

Download PDF brochure of the Report @ https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=97181143 

In-mold labeling (IML) technology in the thermoforming market is has made the manufacturing process cost-effective. Now, companies are introducing new products with IML, especially in the European market. IML has enormous potential to penetrate in other regions as well. IML allows the manufacturers to save time and money by integrating the labeling process directly into the thermoforming process. This new technology of IML enables the thermoformers to save up to 20% in resin cost by light-weighting containers with IML. IML technology is a huge opportunity for thermoformers in the thermoforming plastic market.  

PP-based thermoforming plastic is the fastest growing plastic in the plastic-type segment. This growth is attributed to the extensive use of this plastic in packaging applications such as food packaging, medical device packaging, and automotive packaging. The excellent strength to weight ratio, excellent energy management, resilient, good chemical resistance, and durability makes it an ideal choice for packaging applications. 

Rising demand from emerging economies such as China, India, and Brazil is the potential opportunity in the market. The increase in per capita income, double-income families, industrialization, and technological advancements in manufacturing could lead to tremendous growth in the thermoforming plastic market in these countries. The rise in living standards and changes in lifestyles in developing countries contribute to the development of the convenience packaging market and consequently impact the thermoforming plastic market. According to the India Brand Equity Foundation (IBEF), the Indian healthcare sector is projected to progress at a 15% CAGR to reach USD 158.2 billion by 2017. However, the biggest challenge for market growth is compliance with stringent regulations for thermoforming plastic.

Don’t miss out on business opportunities in Thermoforming Plastic Market. Speak to Our Analyst and gain crucial industry insights that will help your business grow. https://www.marketsandmarkets.com/speaktoanalystNew.asp?id=97181143    

Browse in-depth TOC on “Thermoforming Plastic Market”

143 – Market Data Tables

50 – Figures

173 – Pages

The top players in the thermoforming plastic market have implemented various strategies in the market. For instance, in April 2018, Sonoco Products Company (US) acquired Highland Packaging Solutions (US), a leading manufacturer of thermoformed packaging for fresh fruits, vegetables, and eggs. This helped the company to expand its thermoforming packaging capabilities for fresh products. In September 2018, D&W Fine Pack LLC expanded its line of TamperSmart brand packaging. This was done to provide even more products with tamper-evident features. This helped the company to fulfill the growing demand for the grab-and-go sector of food packaging.

Fabri-Kal Corp. (US), Berry Global Inc. (US), Genpak LLC (US), Pactiv LLC (US), D&W Fine Pack LLC (US), Amcor Ltd. (Australia), Dart Container Corp. (US), Anchor Packaging (US), Sabert Corporation (US), Sonoco Products Company (US) were some of the key players in the global Thermoforming Plastic market. These players have adopted various organic and inorganic developmental strategies over the past five years. 

Get Sample Pages of This Report @ https://www.marketsandmarkets.com/requestsampleNew.asp?id=97181143

About MarketsandMarkets™

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the “Growth Engagement Model – GEM”. The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write “Attack, avoid and defend” strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets’s flagship competitive intelligence and market research platform, “Knowledge Store” connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.



Source link

Previous Post

Thermoelectric Modules Market worth $1,054 million by 2027 at a CAGR of 8.8%

Next Post

KSA Weekly on Kingdom of Saudi Arabia adds to Arab Newswire Media List Press Release Distribution to MENA Region

RECOMMENDED NEWS

Saudi Arabia $280+ Mn Electric Commercial Vehicle Markets, Analysis, Competition, Forecasts & Opportunities, 2017-2021 & 2022-2027

3 months ago
Speech and Voice Recognition Market Worth $26.79 Billion by 2025

Speech and Voice Recognition Market Worth $26.79 Billion by 2025

6 months ago

Hollywood star Johnny Depp spotted in Saudi Arabia's AlUla days … – Arab News

2 weeks ago

Data Center Rack Market Estimated to gain USD 6.6 billion by 2027

5 months ago

BROWSE BY CATEGORIES

  • Business
  • Finance
  • Lifestyle
  • Middle East
  • News
  • Press Release
  • Technology

POPULAR NEWS

  • ZainTech partners with LigaData to deliver data-driven digital services in MENA

    ZainTech partners with LigaData to deliver data-driven digital services in MENA

    0 shares
    Share 0 Tweet 0
  • تم إطلاق VOYAH FREE في أوروبا وتم افتتاح معرض VOYAH.

    0 shares
    Share 0 Tweet 0
  • Saudi Arabia’s NuqtahNFT and ConsenSys partner to empower Web 3 startups

    0 shares
    Share 0 Tweet 0
  • Vidliz Expands Its Data-Driven Online Marketing Services in the Middle East

    0 shares
    Share 0 Tweet 0
  • VideoMost receives high rates in G2 Spring 2022 Grid for Video Conferencing

    0 shares
    Share 0 Tweet 0

KSA Weekly™ publishes and aggregates business, socio-economic, Tech and industrial news on Saudi Arabia, Middle East and North Africa (MENA).

We provide press release distribution to media in the Kingdom of Saudi Arabia, the Arab world and the GCC/MENA regions. To send your press release, contact us today.

Recent News

Recent Posts
  • UV Tape Market is expected to grow at a CAGR of 7.4 percent during the forecast period
  • CO2 Gas Sensor Market is expected to grow at a CAGR of 9.2 percent during the forecast period.
  • Recreation Club Market is expected to grow at a CAGR of 6.8 percent during the forecast period.
  • NOWA outlines 16 major achievements of Hajiya Aisha Gambo in 2 Years
  • Methyl Palmitate Market is expected to grow at a CAGR of 5.2 percent during the forecast period

Category

News

Business

Finance

Technology

Lifestyle

Middle East

Press Releases

Subscribe to Our Newsletter

    KSA Weekly ™ is part of GroupWeb Media Network. © 2023GroupWeb Media LLC

    • About Us
    • Contact Us
    • Submit a Press Release
    No Result
    View All Result
    • News
    • Business
    • Finance
    • Technology
    • Lifestyle
    • Middle East
    • Press Release

    © 2023 JNews - Premium WordPress news & magazine theme by Jegtheme.