Global Thermoformable Film Market growing at a CAGR of 5.7% from 2023 to 2031
Category : Materials And Chemicals | Published Date : Sep 2023
Key Market Overview
Consegic Business Intelligence analyzes that the Thermoformable Film market is predicted to grow at a compound annual growth rate of 5.7% from 2023 to 2031 and is expected to reach USD 932.95 million in 2031 and 597.01 million in 2023 which was valued at USD 569.10 million in 2022.
The report highlights the growing demand for packaged food items, which is augmenting the global market growth. Consegic Business Intelligence study also provides insights into the market's competitive landscape, market segmentation, regional outlook, and emerging technologies in the thermoformable film market.
Global Thermoformable Film Market By Overview
The thermoformable film market is bifurcated into material type, process, application and end-use industry. Based on material type, the market is segmented into polyvinyl chloride (PVC), polyethylene, acrylonitrile butadiene styrene, ethylene vinyl alcohol, polyamide, and others. In 2022, the polyethylene segment dominated the overall thermoformable film market. Based on process, the market is segmented into vacuum, pressurized, and mechanical. In 2022, the vacuum segment dominated the overall thermoformable film market. Based on application, the market is segmented into rigid packaging and flexible packaging. In 2022, the rigid packaging segment dominated the overall thermoformable film market. The end-use industry segment is categorized into food, pharmaceutical, chemical, electronic, cosmetics and personal care, and others. In 2022, the food segment accounted for the highest market share in the thermoformable film market.
Get Free SampleMarket Dynamics
Driver:
- Growing demand for packaged food items is boosting the market growth.
- Increasing demand from the electronic industry is driving the market growth.
Restraints:
- Non-biodegradable plastics used in thermoforming is hampering the market growth.
Market Segmentation:
| Report Attributes | Report Details |
| By Material Type | Polyvinyl Chloride (PVC), Polyethylene, Acrylonitrile Butadiene Styrene, Ethylene Vinyl Alcohol, Polyamide, and Others |
| By Process | Vacuum, Pressurized, and Mechanical |
| By Application | Rigid Packaging and Flexible Packaging |
| By End-use Industry | Food, Pharmaceutical, Chemical, Electronic, Cosmetics and Personal Care, and Others |
| By Region | North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa |
Competitive Landscape :
The market is dominated by certain major companies such as Klockner Pentaplast, UFlex Limited, and Vecom Group, which have a strong market position in the current market circumstances. These companies are continuously leveraging new technologies to develop innovative solutions. Furthermore, the thermoformable film market is expected to witness substantial growth in the coming years due to increasing applications of thermoformable films in the aerospace industry in key regions such as North America, Asia Pacific, and others.
The market is characterized by intense competition, with companies focusing on expanding their product offerings and increasing their market share through mergers, acquisitions, and partnerships.
- Klockner Pentaplast
- UFlex Limited
- Vecom Group
- Vishakha Polyfab Pvt Ltd
- DuPont Specialty Products India Pvt. Ltd.
- Hypac Packaging Pte. Ltd.
- Clifton Packaging Group Ltd.
- Synpac
- RapidMade
- A&M Packaging