Thermoform Packaging Market Analysis
Thermoform Packaging Market - Global Industry Insights, Trends, Outlook, and Opportunity Analysis, 2018-2026
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 Taxonomy
On the basis of process, thermoform packaging market is segmented into:
On the basis of heat seal coating, thermoform packaging market is segmented into:
On the basis of material, thermoform packaging market is segmented into:
On basis of packaging type, thermoform packaging market is segmented into:
On basis of end-use, thermoform packaging market is segmented into:
Skin packaging segment is gaining significant traction due to its properties such as high durability, toughness, improved aesthetics, and lower material use over conventional blister packaging. Plastic is widely used for manufacturing of thermoform packaging due to its wide availability and cheap material cost. Clamshell packaging is used for consumer goods. They are usually transparent to ensure that the consumer can see the contents of the packaging. Whereas, blister cards are used in pharmaceutical industry and are manufactured by heat sealing a sheet foil. Food and beverage industry is the largest end user of this market, owing to its ability of customize according to the requirement. Its durability ensures product is not damaged and contamination is prevented.
Thermoform Packaging Market Outlook
New thermoforming technique called as ‘Computational Thermoforming’ has come up as an alternative to 3D printing. It was developed by Zurich-based Interactive Geometry Lab in 2016. This largely cuts down time required for manufacturing special purpose packaging. Adoption of this technology is expected to restrain growth of the market over the forecast period.
For instance, in Amcor Limited acquired the assets of Sonoco’s plastic blow molding business in North America for $280 million. The Sonoco’s acquisition includes business of flexible packaging, thermoforming rigid plastics and temperature-assurance packaging.
In June 2019, Amcor Limited acquired Bemis Company, Inc. for a value of US$ 6.8 billion. Amcor shareholders will now own 71% and Bemis shareholders 29% of the new combined company. This acquisition has helped Amcor Limited to strengthen its position in global market.
For instance, in March 2018, Constantia Flexibles GmbH acquired Creative Polypack Limited, India’s flexible packaging company. The Creative Polypack Limited’s acquisition include production sites at Baddi, Kanpur, Kolkata, Assam and Puducherry, in northern, eastern and southern India.
In February 2013, Anchor Packaging acquired a 423,000 square foot manufacturing and warehousing facility in Jonesboro, Arkansas, from Quad Graphics. This acquisition has helped Anchor Packaging to expand its thermoforming packaging business in North American market.
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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