Thermoform Packaging Market Advantages of Smart packaging in Comparison to Traditional packaging are Driving Growth

Posted January 13, 2022 by neha_s

Thermoforming is the process of molding material (plastic, aluminum, wood, and rubber) into desired shape to create packaging containers
Thermoforming is the process of molding material (plastic, aluminum, wood, and rubber) into desired shape to create packaging containers. It is a cost effective process, which allows molding of large size containers from sheets. Moreover, thermoform packaging can be customized into various shapes and sizes. Printing can be done after molding to make products aesthetically appealing.
Cost effectiveness and ability for mass manufacturing make it a popular choice among the industries such as food and pharmaceutical. However, environmental repercussions of using plastic packaging is major challenge for growth of the market. Moreover, thermoformed material cannot bear excess weight and cannot be used for the packaging of heavy materials.

Thermoform Packaging Market Outlook
• North America and Europe are the largest markets for thermoformed packaging due to high disposable incomes in the regions. Moreover, a preference for packaged food and disposable products are also driving growth of the market.
• Asia Pacific is the fastest growing market with the world’s largest population in India and China, which in turn is boosting demand for food, beverages, pharmaceuticals, and electronics. These countries are also growing as manufacturing hubs for pharmaceuticals and electronics due to low cost of labor and raw material. According to International Monetary Fund (IMF), the Asia Pacific region accounted for 50% of the world’s GDP and is projected to become a prime consumer hub over the forecast period.

Thermoform Packaging Market Taxonomy
On the basis of process, thermoform packaging market is segmented into:
• Vacuum Forming
• Pressure Forming
• Plug Assist Forming
On the basis of heat seal coating, thermoform packaging market is segmented into:
• Water Based
• Solvent Based
• Hot Melt Based
On the basis of material, thermoform packaging market is segmented into:
• Plastic
◦ Polyethylene Terephthalate (PET)
◦ Polyethylene (PE)
◦ Poly Vinyl Chloride (PVC)

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Key Players in the Thermoform Packaging Market
Key Players operating in thermoform packaging market include Amcor Limited, Bemis Company, Inc., WestRock Company, E.I. du Pont de Nemours and Company, DS Smith Plc., Constantia Flexibles GmbH, Sonoco Products Company, Anchor Packaging, Tekni-plex Inc., G. Mondini S.p.A, and Display Pack Inc.

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Issued By Coherent Market Insights
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Categories Blogging , Business , Industry
Last Updated January 13, 2022