Thermoformed Plastic Market Size & Share, by Type (Polyethylene, Polypropylene), End-user (Packaging, Automotive, Healthcare) - Global Supply & Demand Analysis, Growth Forecasts, Statistics Report 2025-2037

  • Report ID: 5166
  • Published Date: Oct 14, 2024
  • Report Format: PDF, PPT

Global Market Size, Forecast, and Trend Highlights Over 2025-2037

Thermoformed Plastic Market size was valued at USD 11.8 billion in 2024 and is set to reach USD 33.96 billion by the end of 2037, expanding at around 8.4% CAGR during the forecast period i.e., between 2025-2037. In the year 2025, the industry size of thermoformed plastic is assessed at USD 12.6 billion.

Thermoformed plastics are widely used in the packaging industry due to their versatility, cost-effectiveness, and ability to protect products during transportation. Improvements in plastic materials, including biodegradable and compostable options, have expanded the range of applications for thermoformed plastics and driven market growth.

Thermoformed is a manufacturing process where plastic sheets are heated to a pliable forming temperature, shaped into a specific mold, and then trimmed to create a final product. It is commonly used for packaging materials, disposable containers, automotive parts, medical equipment, and various other applications. The automotive sector was also a key driver of the thermoformed plastic market, with the increasing use of thermoformed parts in vehicle interiors and exteriors.


Thermoformed Plastic
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Thermoformed Plastic Sector: Growth Drivers and Challenges

Growth Drivers

  • Increasing demand for packaging solutions: The global flexible packaging sales were estimated to be valued at around USD 900 billion in the year 2020. Thermoformed plastics are widely used for packaging applications due to their cost-effectiveness and versatility.
  • Growth in the healthcare industry: Thermoformed plastics are used in the healthcare sector for medical device packaging, providing a sterile and protective solution.
  • Advancements in material technology: The development of advanced thermoforming materials, including high-performance polymers, biodegradable plastics, and recycled materials, has expanded the application scope of thermoformed plastics.

Challenges

  • Competition from other packaging materials: Thermoformed plastics face competition from other packaging materials, such as glass, metal, paper, and flexible packaging. Each material has its unique advantages and disadvantages, and the choice of material often depends on specific application requirements and environmental concerns.
  • Environmental concerns and sustainability
  • Regulatory restrictions and bans

Thermoformed Plastic: Key Insights

Base Year

2024

Forecast Year

2025-2037

CAGR

8.4%

Base Year Market Size (2024)

USD 11.8 billion

Forecast Year Market Size (2037)

USD 33.96 billion

Regional Scope

  • North America (U.S., and Canada)
  • Latin America (Mexico, Argentina, Rest of Latin America)
  • Asia-Pacific (Japan, China, India, Indonesia, Malaysia, Australia, Rest of Asia-Pacific)
  • Europe (U.K., Germany, France, Italy, Spain, Russia, NORDIC, Rest of Europe)
  • Middle East and Africa (Israel, GCC North Africa, South Africa, Rest of Middle East and Africa)

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Thermoformed Plastic Segmentation

Type (Polyethylene, Polypropylene)

The polypropylene segment is estimated to gain the largest market share of 64% in the year 2037. Polypropylene is widely used in the automotive sector for various interior components like dashboards, door panels, and storage compartments due to its lightweight and cost-effectiveness. The global automotive sales were valued at over USD 4.5 trillion in the year 2020. Polypropylene is utilized in consumer goods such as disposable cups, cutlery, storage containers, and toys due to its excellent molding properties and affordability.

End User (Packaging, Automotive, Healthcare)

The healthcare segment is expected to garner a significant share in the year 2037. Ongoing advancements in thermoformed technology have improved the manufacturing process, allowing for the production of more complex and precise medical device packaging and components. Emerging markets, especially in Asia and Latin America, are witnessing increased access to healthcare services. As healthcare infrastructure improves in these regions, there will be a growing demand for thermoformed plastic products used in medical equipment and packaging.

Our in-depth analysis of the global market includes the following segments:

           Type

  • Polyethylene
  • Polypropylene

 

   

           End User

  • Packaging
  • Automotive
  • Healthcare

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Thermoformed Plastic Industry - Regional Synopsis

APAC Market Forecast

The thermoformed plastic market in the Asia Pacific region is projected to hold the largest market share of 38% by the end of 2037. Asia Pacific is experiencing rapid industrialization and urbanization, with a projected urban population of approximately 3.1 billion by 2050. The growth of industries and urban infrastructure drives the demand for thermoformed plastic products in various applications, such as packaging, automotive, electronics, and construction.

North American Market Statistics

The thermoformed plastic market in the North America region is projected to hold the second-largest share during the forecast period. The North American automotive industry is one of the largest globally, with the United States and Mexico being significant contributors. The automotive vehicle sales in North America were valued at over USD 1 trillion in 2020 and are expected to witness steady growth. Thermoformed plastics are widely used in various automotive components, such as interior trims, dashboards, and door panels.

Research Nester
Thermoformed Plastic Size
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Companies Dominating the Thermoformed Plastic Landscape

    • Pactiv LLC
      • Company Overview
      • Business Strategy
      • Key Product Offerings
      • Financial Performance
      • Key Performance Indicators
      • Risk Analysis
      • Recent Development
      • Regional Presence
      • SWOT Analysis
    • Sonoco Products Company
    • Anchor Packaging, Inc.
    • Genpak LLC
    • D&W Fine Pack LLC
    • Placon Corporation
    • RPC Group Plc
    • Tray-Pak Corporation
    • Dart Container Corporation
    • Silgan Holdings Inc.

In the News

  • Anchor Packaging Inc. will close its Mount Vernon, Ky., thermoforming plant and move production of its Microlite deli containers from there to Jonesboro, Ark., by mid-August. The closure is part of a restructuring plan that will also see the company lay off 100 employees at its headquarters in St. Louis.
  • Food packaging major Anchor Packaging Inc. has acquired a building in Jonesboro. Ark., that it is converting to a warehouse in which it eventually will introduce manufacturing. The company plans to invest USD 10 million in the building and create 50 new jobs.

Author Credits:  Rajrani Baghel


  • Report ID: 5166
  • Published Date: Oct 14, 2024
  • Report Format: PDF, PPT

Frequently Asked Questions (FAQ)

In the year 2025, the industry size of thermoformed plastic is assessed at USD 12.6 billion.

The thermoformed plastic market size was valued at USD 11.8 billion in 2024 and is set to reach USD 33.96 billion by the end of 2037, expanding at around 8.4% CAGR during the forecast period i.e., between 2025-2037. Increasing demand for automotive will drive the market growth.

Asia Pacific industry is poised to account for largest revenue share of 38% by 2037, backed by rapid industrialization and urbanization in the region.

The major players in the market include Pactiv LLC, Sonoco Products Company, Anchor Packaging, Inc., Genpak LLC, D&W Fine Pack LLC, Placon Corporation, RPC Group Plc, Tray-Pak Corporation, Dart Container Corporation, Silgan Holdings Inc.
Thermoformed Plastic Market Report Scope
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