Global Thermoformed Packaging Market 2016-2020
About Thermoformed Packaging
Polyethylene terephthalate (PET), polyvinyl chloride (PVC), and acrylonitrile butadiene styrene (ABS) are the primary raw materials used for thermoformed packaging. Polylactic acid (PLA) is also being used by many thermoformed packaging manufacturers as it is easier to print on PLA thermoformed packages.
Technavio’s analysts forecast the global thermoformed packaging market to grow at a CAGR of 5.02% during the period 2016-2020.
Covered in this report
The report covers the present scenario and the growth prospects of the global thermoformed packaging market for 2016-2020. To calculate the market size, the report considers the revenue generated by packaging vendors through the sales of packaging solutions for different goods.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Thermoformed Packaging Market 2016-2020
Technavio recognizes the following companies as the key players in the global thermoformed packaging market: Anchor Packaging, Bemis, RPC, Sealed Air, Silgan, and Sonoco Plastics.
Other prominent vendors in the market are: Genpak, Greiner Packaging, Pactiv, and Placon.
Commenting on the report, an analyst from Technavio’s team said: “One of latest trends in the market is increasing use of PLA films in thermoforming. PLA films used in thermoforming packaging are highly transparent and glossy, which is the main characteristic most manufacturers look for in thermoformed packaging. PLA films exhibit high tensile strength in comparison with other films like PET and PVC. Due to its intrinsic high value of surface tension, which ranges between 36 mN/m to 38 mN/m, PLA is easily printable. Tray manufactured through thermoformed process using PLA films shows high sealability at temperatures much lower than that with other films.”
According to the report, one of the primary drivers in the market is use of thermoformed packaging in thin-walled containers. Thermoformed packaging is used mainly for products that have limited depth of draw and materials that have a sheet thickness of less than 1 mm. Thin-walled containers include disposable food containers and cups, lightweight trays, and packaging for consumer goods. In thermoforming, the cost of thermoformed machine tools is much less compared with injection molding tools. The cost of thermoformed machines is $35,000 per piece. On the other hand, injection molding machine costs $22,500.There is a growing demand for thin-walled cups, tubs, and containers for packaged food. Thermoforming process brings down the wall thickness and weight of the cup to a minimum possible limit and provides high impact and stiffness properties. Thin-walled packaging through thermoforming process results in energy saving by 30%, and there is very less material loss.
Further, the report states that one major challenge in the market is adverse impacts of PVC films. PVC accounts for 32% of the total raw material that is used for thermoformed packaging. Though it has high barrier properties and is water and moisture ingress, PVC films have a negative impact on the environment. In the US, seven billion pounds of PVC material and films are discarded every year. PVC disposal is known to be the largest source of dioxin-forming chlorine and phthalates in solid waste and a major source of lead, organotin, and cadmium, which poses serious threats to individual health and to the environment.
Anchor Packaging, Bemis, RPC, Sealed Air, Silgan, Sonoco Plastics, Genpak, Greiner Packaging, Pactiv, Placon.