Thermoformed plastics are plastics used in the process of thermoforming where a plastic sheet is heated to a bendable form so that the plastic can be molded into a desired shape which is then cooled to form a finished usable product. There are different types of processes available for thermoforming plastics, the common ones being plug assist forming, vacuum snapback and thick and thin gauge thermoforming. The regularly used polymers for thermoforming include acrylonitrile butadiene styrene (ABS), high impact polystyrene (HIPS), polypropylene (PP) and polymethyl methacrylate (PMMA) among others. These plastics have applications in food packaging, electronics, pharmaceuticals and toiletries.
The key driver for thermoformed plastics is their large application base in the food packaging industry. The main requirement for the food packaging industry is a superior barrier to bacteria, odor and moisture to the food product, which is provided by thermoformed plastics. In addition, it is used in manufacture of pharmaceutical articles. Thermoformed plastics are cost effective and thus, they are used in a wide range of applications. Plastics used in thermoforming are petrochemical based polymers.
The key restraint to the thermoformed plastics market is the fluctuation in the prices of the raw materials used. High labor cost of manufacturing thermoplastics also affects the market of thermoformed plastics. In addition, during the thermoforming process, precise wall thickness is difficult to achieve along with uniform thickness all across the product. This results in less durability and less weight bearing capacity of the plastic product. Thus, manufacturers look for substitutions to thermoformed polymers.
Changing lifestyle and increasing disposable income of consumers in countries such as China and India will affect the food packaging in this region. This in turn will affect the thermoforming plastics market in this region. In addition, there is an increasing scope of application of thermoforming process as manufacturers are looking at replacing injection molding process by thermoforming process due to the lower tooling costs and high-speed production.
Some of the major manufacturers in the thermoformed plastic industry include Anchor Packaging, Pactiv, Associated Packaging Technologies, Peninsula Packaging, Placon Corporation, Tegrant, Genpak and CM Packaging.
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This report is a complete study of current trends in the market, industry growth drivers, and restraints. It provides market projections for the coming years. It includes analysis of recent developments in technology, Porter’s five force model analysis and detailed profiles of top industry players. The report also includes a review of micro and macro factors essential for the existing market players and new entrants along with detailed value chain analysis.
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