In 2022, the global thermoformed tubs market was predicted to be valued at US$ 10350.5 Million. According to the report published by Future Market Insights, the market is anticipated to reach nearly US$ 17347.9 Million by 2032, with a growing CAGR of 5.3% from 2022 to 2032.
The demand for thermoformed tubs is soaring owing to growing demand for these products in the pharmaceutical and healthcare packaging segment. Thermoformed plastics are manufactured using the thermoform process – a technique which involves heating a sheet of plastic to a pliant forming temperature and shaping it into a mold and eventually trimming to make it a usable product.
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Global Thermoformed Tubs – Market Dynamics
Thermoformed tubs are extensively used in packaging due to their toughness and flexibility. Thermoformed tubs are mainly used in food industry. Due to the rapid growth of food sector and the need for its packaging, the market for thermoformed tubs is expected to witness growth over the forecast period 2017-2025. In addition, the automation in the field of thermoformed packaging has positively impacted the growth for thermoformed tubs market.
With the rising demand of electronics and its packaging for protecting appliances, the thermoformed tubs market has seen expansion over the forecast market. Thermoformed tubs are also used for packaging of medicines, and this trend is expected to grow in further years due to extensive growth of the pharmaceutical sector.
Thermoformed tubs market faces the challenges of strict norms from the government for pertaining to the use of plastics in the manufacturing process and its waste management issues. Thermoformed tubs are difficult to manufacture with the precise thickness of the walls; as a result, it faces challenges of finding a substitute for getting a precise shape.
Global Thermoformed Tubs Market – Regional Overview
The global thermoformed tubs market can be segmented on the basis of region such as:
- North America
- Latin America
- Eastern Europe
- Western Europe
- APEJ
- Middle East & Africa
- Japan
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North America region is the foremost market for thermoformed tubs market and is driving the global demand. Europe region is also expected to see above average growth of thermoformed tubs market over the forecast period. Countries such as the UK, Italy, Germany and France are the top thermoformed tubs market. APEJ region is expected to have anticipation in the growth over the forecast period for thermoformed tubs market.
Markets in China and India would witness the highest CAGR growth for thermoformed tubs. Latin America region due to emerging countries like Brazil and Mexico would have anticipation in demand for thermoformed tubs market. The Middle East and Africa region are estimated to have a considerable increase in the thermoformed tubs market for South Africa and GCC. Japan is also expected to have substantial growth of thermoformed tubs market.
Global Thermoformed Tubs Market – Key players
Some of the players in the thermoformed tubs market are
- Silgan Holdings Inc,
- Astrapak Ltd,
- Universal Plastics Corporation,
- Plast-Pack GmbH,
- STM Plastics,
- Shepherd Thermoforming & Packaging Inc.,
- Lucky Time Pack Material Co., Ltd.,
- Greiner Packaging GmbH,
- Ditai Plastic Products Co., Ltd.,
- Tengyue Display Co., Ltd., and
- Swellder Electronics Technology Co., Ltd.
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.
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The report covers exhaustive analysis on
- Market Segments
- Market Dynamics
- Market Size
- Supply & Demand
- Current Trends/Issues/Challenges
- Competition & Companies involved
- Technology
- Value Chain
Regional analysis includes
- North America (U.S., Canada)
- Latin America (Mexico, Brazil, Argentina)
- Western Europe (Germany, Italy, U.K, Spain, France, Nordic, Rest of Western Europe)
- Eastern Europe (Russia, Poland)
- Asia Pacific (China, India, ASEAN, Australia & New Zealand)
- Japan
- Middle East and Africa (GCC, S. Africa, N. Africa)
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.
Global Thermoformed Tubs – Market Segmentation
The thermoformed tubs can be segmented by material type, by shape, and by end use.
On the basis of material type, the global thermoformed tubs are segmented into:
- Polyethylene (PE)
- HDPE
- LDPE
- Polyethylene terephthalate (PET)
- APET
- CPET
- Polypropylene (PP)
- Polystyrene (PS)
- Polyvinyl Chloride (PVC)
- Ethyl Vinyl Alcohol (EVOH)
- Others
On the basis of shape, the global thermoformed tubs are segmented into:
- Round
- Oval
- Rectangular
- Others
On the basis of end use, the global thermoformed tubs are segmented into:
- Food & Beverages
- Electronics
- Pharmaceuticals
- Healthcare
- Personal care & cosmetics
- Others
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Future Market Insights, Inc. (ESOMAR certified, Stevie Award – recipient market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10 years.
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