Market Dynamics:
Industrial Thermoform Packaging Material Market size is expected to witness substantial progress owing to rising demand for packaging material in the F&B industry. Fluctuating preference toward the product, over wood and glass owing to moist free, odor free, light, and flexible properties will boost the Thermoplastic Industrial Packaging market demand. The components are quite versatile and cost effective which can be used in numerous industries like food & beverage, pharmaceutical, electronics and others.
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Improving living standards and changing lifestyle is expected to boost demand for Industrial Thermoform Packaging Material. These are factors which are anticipated to propel the industrial thermoform packaging material market during the forecast period.
Market Segment:
On the basis of type, Industrial Thermoform Packaging Material market is segmented into, clamshell, blister skin and windowed. Among types, blister packing has the maximum market share due to huge application in pharmaceutical industry as it prevents the product contamination and exposure from the external environment. Moreover, increasing demand for the product in F&B industry for packing certain products will rise the industry Industrial Thermoform Packaging Material market growth.
Based on heat seal coating, Industrial Thermoform Packaging Material market is segmented into water based, heat seal coating, solvent based, and hot-melt based. Among heat seal coating, solvent based heat seal coating will increase significant share in the industrial thermoform packaging material market due to strong bond strength and resistance to water and grease and can be processed at various temperatures.
On the basis of raw material, Industrial Thermoform Packaging Material market is classified into aluminum, plastic, paper, and paperboard. The plastic segment will hold a major market share in the Industrial Thermoform Packaging Material market. PP (Polypropylene), PC (Polycarbonate), HDPE (High-Density Polyethylene), ABS (Acrylonitrile Butadiene Styrene), Acrylic PMMA (Polymethyl Methacrylate), PVC (Polyvinly Chloride), PS (Polystyrene), TPO (Thermoplastic Polyolefin), PET (Polyethylene Terephthalate) are commonly used plastics. Among raw material, PET covers the major market share in overall Industrial Thermoform Packaging Material market due to their wide application in bottles manufacturing.
On the basis of end use, industrial thermoform packaging material market is segmented into food & beverage, home & personal care, pharmaceuticals, electronics, and components packaging. Among end use segment, food & beverage segment has the significant market share as the product is extensively used in food service, dairy, confectionary, packaging meat etc. Pharmaceutical has emerged as one of the fastest growing industrial thermoform packaging material market segment due to the requirement of prevention of medicines from contamination.
On the basis of geographical regions, the Industrial Thermoform Packaging Material market is segmented into seven different regions: North America, Latin America, Eastern Europe, Western Europe, Asia-Pacific region, Japan, and the Middle East and Africa. North America will dominate the industrial thermoform packaging material market in terms of value and volume due to the presence of big brands and increasing consumption of packaged products followed by Europe. Germany and U.K. are the major countries which will witness substantial growth rate due to growing demand in food & beverage and pharmaceutical industry. Asia Pacific region also expects significant growth due to the rising in the manufacturing industry and large consumer base over the forecast period.
Key Market Players:
Key players in the industrial thermoform packaging material market are Placon, Blemis Company, Display Pack, E.I. Du Pont Nemours, Amcor, Sonoco Products, Westrock Company, D Smith, Allied Plastics Inc and Pactiv
