The new report by Expert Market Research titled, ‘Global Thermoformed Plastics for Printing Market Report and Forecast 2022-2027’, gives an in-depth analysis of the global thermoformed plastics for printing market, assessing the thermoformed plastics for printing market based on its segments like plastic types, processes, thicknesses, applications, and major regions. The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analyzing the market based on the SWOT and Porter’s Five Forces models.
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The key highlights of the report include:
Market Overview (2017-2027)
- Forecast CAGR (2022-2027): 6%
The growth in the global market is being driven by the rising demand for the technique to manufacture promotional and branding products. As thermoformed plastics can be easily moulded and have the ability to take up any shape, they can easily be transformed into unique shapes and patterns, which is useful in attracting the attention of customers. This is leading to the growth of the market. In addition, the market growth can further be attributed to the growing awareness about the several benefits of thermoformed plastics for printing such as their ability to be dyed in any colour and other uses.
Industry Definition and Segmentation
Thermoformed plastics are plastics that are made through a collection of manufacturing methods in which extruded plastics are heated and moulded to form sheets of extruded plastics. The most popular thermoforming methods used in the market are drape, vacuum, and pressure forming. Thermoformed plastics in printing are used for various applications, such as display and outdoor signages and promotional and branding products, among others.
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On the basis of plastic type, the market can be segmented into:
- Polycarbonate
- High Impact Polystyrene
- Acrylonitrile Butadiene Styrene
- Polyvinyl Chloride
- Polyethylene Terephthalate Glycol
- Acrylic
- Others
The market, based on process, can be divided into:
- Vacuum Forming
- Pressure Forming
- Mechanical Forming
- Others
Based on thickness, the market can be classified into:
- Thin Gauge
- Thick Gauge
The market divisions based on applications are:
- Display and Outdoor Signages
- Promotional and Branding Products
- Gaming Panels
- Others
The regional markets for thermoform packaging include:
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
Market Trends
On the basis of plastic type, the global market for thermoformed plastics for printing is being driven by the growing dominance of polycarbonate. The rising demand for polycarbonate can be associated with its favourable properties including high durability, high strength, easy to cut and shape features, thermal insulation properties, and lightweight composition, among others. Additionally, certain grades of polycarbonate are optically transparent, a property which eases the printing process, thereby contributing to the market. Moreover, during the forecast period, the market is likely to be aided by increasing expenditure on advertising and branding applications, and further advances in printing technology.
Key Market Players
The major players in the market are Sonoco Products Company, Plaskolite LLC, and Palram Industries Ltd., among others. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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The global thermoformed plastics market size is expected to reach USD 17.9 billion by 2027, according to a new report by Radiant Insights, Inc., registering a CAGR of 4.9% over the forecast period.
Rising product demand in various application sectors including food, healthcare, and medical packaging; automotive; electrical and electronics; construction; and consumer goods and appliances owing to its cost-effectiveness is projected to drive the market in the coming years.
Download Free Sample Report @ https://www.radiantinsights.com/research/thermoformed-plastics-market/request-sample Thermoforming is a process where a sheet of plastic is heated to make it flexible after which it is fabricated and molded in the required shape to make it fit for use.
Further key findings from the report suggest: • The global demand for thermoformed plastics was estimated at 428.8 kilotons in 2019 and is expected to register a CAGR of 4.2% from 2020 to 2027 owing to the rapidly increasing demand for packaging from various sectors • Polypropylene emerged as the largest product segment in 2019 and is estimated to generate a revenue of over USD 3.9 billion by 2027 as it is cost-efficient and offers high chemical resistance • Polymethyl methacrylate (PMMA) is expected to be the fastest-growing product segment owing to its extensive flexible properties and high resistance to UV light • The automotive packaging segment stood at 41.4 kilotons in 2019 and is expected to register a CAGR of 4.8% over the forecast period.
Secondary Sources & Third-Party Perspectives1.1.4.
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