Global Thermoforming Films Market to Surpass USD 276.3 Million by 2031

PUNE, India, May 25, 2023 /PRNewswire/ -- According to a recent market study published by Growth Market Reports, titled, "Global Thermoforming Films Market by Type (Rigid Thermoforming Films And Flexible Thermoforming Films), Applications (Food, Pharmaceutical, Consumer Goods, Chemical, Electronic, Cosmetics & Personal Care, And Others), Material (Polyvinyl Chloride (PVC), Polyethylene (PE), Acrylonitrile Butadiene Styrene (ABS), Ethylene Vinyl Alcohol (EVOH), And Polyamide (PA)), and Region: Size, Share, Trends and Opportunity Analysis, 2023-2031", The global thermoforming films market was valued at USD 83.8 Bn in 2022 and is projected to reach USD 123.5 Bn by 2031, expanding at a CAGR of 4.4% during the forecast period, 2023-2031.

New Developments:

On April 25, 2022, Amcor plc established thermoforming capabilities for medical packaging in its healthcare packaging facility in Sligo, Ireland. The multi-million-dollar investment strengthened Amcor's leadership in the growing sterile packaging industry.

Key Market Players Profiled in the Report

Amcor plc

Dupont Teijin Films

Vishakha Polyfab Pvt. Ltd

Klöckner

Pentaplast

Astar Packaging Pte Ltd.

Hypac Packaging Pte Ltd.

Peiyu Plastics Corporation

AVI Global Plast Clifton

Packaging Group Limited

Flexipol (Synnovia)

Green Packaging Material (Jiangyin) Co., Ltd.

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The report covers comprehensive data on emerging trends, market drivers, growth opportunities, and restraints that can change the market dynamics of the industry. It provides an in-depth analysis of the market segments which include type, device, and competitor analysis.

This report also includes a complete analysis of industry players and covers their latest developments, product portfolio, pricing, mergers, acquisitions, and collaborations. Moreover, it provides crucial strategies that are helping market players to expand their market share.

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Market Segment Highlights:

The market in Asia Pacific is expected to dominate the global thermoforming films market due to the increasing demand for thermoforming films in the packaging industry. The demand for thermoforming films is rapidly growing in emerging economies such as India and China as the demand for packaged food is rapidly increasing in these countries.

The market in North America is anticipated to register a considerable CAGR during the forecast period owing to the increasing demand for thermoforming films for packaging purposes in the pharmaceuticals and food & beverages industry.

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Key Takeaways from the Study:

The demand for thermoforming films is rapidly increasing in the food & beverage industry as these offer minimal leakage and are puncture resistant.

In the cosmetics industry, the demand for the thermoforming industry is rapidly growing owing to various benefits of these films such as moisture barrier and flexibility properties.

The ongoing continuous R&D in thermoforming films to make these recyclable and to use these across various industries for different purposes is creating lucrative opportunities for the market in the coming years.

The rigid thermoforming films segment is expected to hold a major market share as these films are widely used for mechanical purposes such as protective headgear, pipe systems, golf club heads, and others.

The food segment is projected to account for a remarkable share of the thermoforming market due to the wide use of these films for food packaging purposes. These films have some beneficial properties such as durability, tamper-resistant packaging, and resilience.

The Polyvinyl Chloride (PVC) segment is expected to grow at a significant pace during the forecast period, as Polyvinyl Chloride (PVC) thermoforming films help to reduce the possibility of using adhesives and the need for secondary sleeves for branding.

Read 185 Pages Research Report with Detailed TOC on "Global Diamond Dressers Market by Product Type (Single/Multi-Point Diamond Dressers, PCD Combination Tools, PCD Indexable, Wear Parts), By Application (Automotive, Aerospace, Others), and Region (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa) - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast 2023 – 2031"

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Key Segments Covered

Product Type

Single/Multi-Point Diamond Dressers

PCD Combination Tools

PCDIndexable

Wear Parts

Application

Automotive

Aerospace

Others

Region

North America

Europe

Asia Pacific

Latin America

Middle East & Africa

Other Related Reports:

Polyvinyl Chloride (PVC) Market by Types (Rigid and Flexible), by Applications (Pipes & Fittings, Films & Sheets, Profiles & Tubes, Cables, Bottles, and Others), by End-users (Construction, Automotive, Packaging, Consumer Goods, and Others), and Regions (Asia Pacific, North America, Latin America, Europe, and Middle East & Africa) - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast 2022 – 2030

Global Polyvinyl Films Market by Type (Low-Density Polyethylene, Medium Density Polyethylene, High-Density Polyethylene, Crosslinked Polyethylene), By Application (Food Bag, Clothes Bag, Printing, Other), And By Region (North America, Latin America, Europe, Asia Pacific, and Middle East & Africa), Forecast From 2022 To 2030

Global Polyamideimide Market by Type (Polyether Ketone, Polyphenylene Sulfide), By Application (Automotive, Aerospace, Energy & Power) and Region (North America, Latin America, Europe, Asia Pacific, and Middle East & Africa), Forecast To 2028

Global Acrylonitrile Butadiene Styrene (ABS) Market Report, History, and Forecast 2014-2025, Breakdown Data by Manufacturers, Key Regions, Types and Application

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