Thermoformed Plastics Market Size To Reach $17.9 Billion By 2027

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. Different methods used for processing thermoformed plastics are thin gauge thermoforming, thick gauge thermoforming, plug assist forming, and vacuum snapback. Thin gauge thermoforming was the largest segment in 2019 with a market share of over 60.0% in terms of revenue.

Asia Pacific is projected to be the fastest-growing market in terms of value over the forecast period. Rising demand from industries such as automotive, medical, food packaging, construction, and pharmaceutical in this region is expected to boost the market in the coming years.

North America is expected to register a significant growth rate in terms of both value and volume over the forecast period. The presence of several manufacturers and suppliers of thin gauge thermoforming plastics in the region such as Placon, Vitalo, and Peninsula Plastics is anticipated to drive the regional market growth. On the other hand, high labor cost and fluctuation of raw material prices are the major factors which negatively impact the overall market growth.

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Grand View Research has segmented the global thermoformed plastics market on the basis of product, process, application, and region:

Thermoformed Plastics Product Outlook (Volume, Kilotons; Revenue, USD Million, 2016–2027)

• Polymethyl Methacrylate (PMMA)
• Bio-degradable Polymers
• Polyethylene (PE)
• Acrylonitrile Butadiene Styrene (ABS)
• Poly Vinyl Chloride (PVC)
• High Impact Polystyrene (HIPS)
• Polystyrene (PS)
• Polypropylene (PP)

Thermoformed Plastics Process Outlook (Volume, Kilotons; Revenue, USD Million, 2016–2027)

• Plug Assist Forming
• Thick Gauge Thermoforming
• Thin Gauge Thermoforming
• Vacuum Snapback

Thermoformed Plastics Application Outlook (Volume, Kilotons; Revenue, USD Million, 2016–2027)

• Healthcare & Medical
• Food Packaging
• Electrical & Electronics
• Automotive Packaging
• Construction
• Consumer Goods & Appliances
• Others

Thermoformed Plastics Regional Outlook (Volume, Kilotons; Revenue, USD Million, 2016–2027)

• North America
• Europe
• Asia Pacific
• Central & South America
• Middle East & Africa