According to the latest report by IMARC Group, titled “Thermoformed Plastics market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026,” the global thermoformed plastics market reached a value of US$ XX Billion in 2020. Looking forward, IMARC Group expects the market to grow at a CAGR of XX% during 2021-2026.
We are regularly tracking the direct effect of COVID-19 on the thermoformed plastics market, along with the indirect influence of associated industries. These observations will be integrated into the report.
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Thermoformed plastics are materials made from the thermoforming process wherein plastic sheets are heated and converted into an elastic form that can be molded into the desired shape. They can also be processed through plug assist forming, thick and thin gauge thermoforming, and vacuum snapback techniques. As a result, they are used in the manufacturing of automotive dashboards, interior panels, seats, air ducts, bumpers, light fixtures, industrial equipment, medical devices, and electrical panels.
The increasing utilization of effective packaging solutions in various end use industries represents one of the key factors driving the market. Moreover, thermoformed plastics are widely used in the retail processing of clamshell packaging, packaging inserts, packaging blisters, and shipping trays. Apart from this, as thermoformed plastics act as a barrier against bacteria, moisture, and pungent odor, they are employed in the food and beverage (F&B) industry for sealing products and increasing their shelf life. Furthermore, thermoformed plastics are gaining traction in the construction sector for manufacturing concrete, flooring, and furniture on account of their rigidity, leakage resistance, and long-lasting properties.
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Thermoformed Plastics Market 2021-2026 Analysis and Segmentation:
The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.
Amcor plc, Anchor Packaging LLC, Berry Global Inc, Brentwood Industries Inc., D&W Fine Pack, Dart Container Corporation, Fabri-Kal Corp. (Two Mitts Inc.), Genpak LLC (C-P Flexible Packaging), Greiner Packaging GmbH, Pactiv LLC, Placon Corporation, Sabert Corporation and Sonoco Products Company.
The report has segmented the market on the basis on region, product, process, application.
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Key highlights of the report:
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