| Study Period | 2019 - 2030 |
| Base Year For Estimation | 2024 |
| Forecast Data Period | 2025 - 2030 |
| CAGR | 5.00 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | North America |
| Market Concentration | Low |
Major Players*Disclaimer: Major Players sorted in no particular order |
Thermoformed Plastics Market Analysis
The Thermoformed Plastics Market is expected to register a CAGR of greater than 5% during the forecast period.
- Growing demand for bio-based products in various end-user industries is expected to offer various lucrative opportunities for the growth of market.
- By application, packaging segment is expected to dominate the market owing to the growing trend of packaged and processed food.
- North America region dominated the thermoformed plastics market across the globe with the largest consumption from countries such as United States and Canada.
Thermoformed Plastics Market Trends
Increasing Demand from Packaging Industry
- Thermoformed plastics are manufactured by a process known as thermoforming, in which sheet of plastic material is heated to get it in a bendable form, then molding and trimming it into the desired shape and finally cooling it to get a finished usable product.
- The growing usage of thermoformed plastics in various food packaging products such as cups, trays, sandwich packs, disposable glass & plates, and microwave containers is stimulating the demand the thermoformed plastics and thus, propelling its market.
- Thermoformed plastics provide superior properties such as protection against moisture, odor, and bacteria. They help in increasing the shelf-life of packaged products and are also cost effective. Owing to these factors, the demand of thermoformed plastic materials is likely to increase during the forecast period.
- The global food packaging market is expected to grow at a CAGR of over 5% during the forecast period and is projected to reach the market value of USD 450 billion by 2027. This would increase the demand of thermoformed plastics and thus, propel its market during the forecast period,
- Owing to all the above-mentioned factors for thermoformed plastics, its market is expected to grow rapidly over the forecast period.
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North America Region to Dominate the Market
- North America region is expected to dominate the market for thermoformed plastics during the forecast period. Owing to increase in the demand from various end-user industries such as packaging, healthcare, construction, automotive, and electrical & electronics, the demand for thermoformed plastics has been increasing in countries like United States and Canada.
- The growing usage of thermoformed plastics in food industry for the packaging of fruits, vegetables, meat, poultry, fish, confectionary products, and prepared meals is stimulating the demand of thermoformed plastics in the region.
- Thermoformed plastics are used in healthcare sector for the packaging of products including medical trays, medical devices, syringes, pharmaceutical packaging, and protective packaging. Also, the North America medical devices packaging market is projected to grow at a CAGR of over 5% during the forecast period. Owing to these factors, the demand for thermoformed plastics is likely to increase in medical & healthcare sector.
- Additionally, the demand for polymethyl methacrylate (PMMA) is expected to increase as it provides properties such as light transmission, high resistance to weathering and UV light, high surface hardness, and extended service life. Also, it is recyclable and environment-friendly. This will further aid the thermoformed plastics market growth during the forecast period.
- Furthermore, thermoformed plastics are used in electric vehicles for manufacturing panels, liners, bumpers, and other vehicle parts as they are lightweight and durable. The electric vehicles market in North America is projected to register a CAGR of over 20% during the forecast period. This would increase the demand for thermoformed plastics and thus, propel its market during the forecast period.
- Some of the major companies operating in North America region are - Pactiv LLC, Sonoco Products Company and D&W Fine Pack.
- The aforementioned factors, coupled with government support, are contributing to the increasing demand for thermoformed plastics during the forecast period.
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Thermoformed Plastics Industry Overview
The thermoformed plastics market is fragmented with top players accounting for a marginal share of the market. Major companies in the market include Pactiv LLC, D&W Fine Pack., Genpak, LLC, Sonoco Products Company, and Amcor plc.
Thermoformed Plastics Market Leaders
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D&W Fine Pack.
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Amcor plc
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Pactiv LLC
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Sonoco Products Company
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Genpak, LLC
- *Disclaimer: Major Players sorted in no particular order
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Thermoformed Plastics Industry Segmentation
The Thermoformed Plastics market report includes:
| Product Type | Polyethylene (PE) | ||
| Polypropylene (PP) | |||
| Polystyrene (PS) | |||
| Polyvinyl Chloride (PVC) | |||
| Polymethyl Methacrylate (PMMA) | |||
| Bio-degradable Polymers | |||
| Others | |||
| Process | Vacuum Snapback | ||
| Plug Assist Forming | |||
| Thin Gauge Thermoforming | |||
| Thick Gauge Thermoforming | |||
| End-user Industry | Packaging | ||
| Heathcare | |||
| Automotive | |||
| Electricals & Electronics | |||
| Construction | |||
| Consumer Goods & Appliances | |||
| Others | |||
| Geography | Asia-Pacific | China | |
| India | |||
| Japan | |||
| South Korea | |||
| Rest of Asia-Pacific | |||
| North America | United States | ||
| Canada | |||
| Mexico | |||
| Europe | Germany | ||
| United Kingdom | |||
| Italy | |||
| France | |||
| Rest of Europe | |||
| South America | Brazil | ||
| Argentina | |||
| Rest of South America | |||
| Middle-East and Africa | Saudi Arabia | ||
| South Africa | |||
| Rest of Middle-East and Africa | |||
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Thermoformed Plastics Market Research FAQs
What is the current Thermoformed Plastics Market size?
The Thermoformed Plastics Market is projected to register a CAGR of greater than 5% during the forecast period (2025-2030)
Who are the key players in Thermoformed Plastics Market?
D&W Fine Pack., Amcor plc, Pactiv LLC, Sonoco Products Company and Genpak, LLC are the major companies operating in the Thermoformed Plastics Market.
Which is the fastest growing region in Thermoformed Plastics Market?
Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2025-2030).
Which region has the biggest share in Thermoformed Plastics Market?
In 2025, the North America accounts for the largest market share in Thermoformed Plastics Market.
What years does this Thermoformed Plastics Market cover?
The report covers the Thermoformed Plastics Market historical market size for years: 2019, 2020, 2021, 2022, 2023 and 2024. The report also forecasts the Thermoformed Plastics Market size for years: 2025, 2026, 2027, 2028, 2029 and 2030.
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Thermoformed Plastics Industry Report
Statistics for the 2025 Thermoformed Plastics market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Thermoformed Plastics analysis includes a market forecast outlook for 2025 to 2030 and historical overview. Get a sample of this industry analysis as a free report PDF download.
