The global thermoforming machines market is poised to achieve significant growth, with a projected valuation of US$ 961.0 million in 2023 and a promising CAGR of 4.3% from 2023 to 2033, ultimately reaching US$ 1,463.9 million by 2033. This industry landscape foresees the dominance of the top 3 companies, expected to command a substantial 30 to 35% share of the global market by 2033.
The automatic segment within the market is a key growth driver, offering a growth opportunity of US$ 166.5 million during the forecast period. This surge is attributed to the escalating demand for automated machines, aligning with end-use industries’ growing adoption of advanced technologies.
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In the larger context of the packaging machinery market, valued at US$ 58 billion in 2023, the thermoforming machines market contributes around 1 to 2%. FMI data indicates a market value of US$ 925.0 million in 2021. The upcoming decade is poised to witness heightened demand for horizontal machines, with the leading 5 players projected to hold a significant 25 to 30% market share by 2033.
A driving force behind this growth is the increasing demand for thermoformed packaging solutions, particularly in the global food and pharmaceutical sectors. The necessity for well-packaged products within these industries is a catalyst for the heightened sales of thermoforming machines. With these dynamic factors in play, the market is poised to expand its current value by 1.5 times during the forecast period, reflecting its promising trajectory and potential for innovation and advancement.
Low power requirements, optimum material utilization, reduced maintenance costs, and high productivity would favor the demand for automated thermoforming machines. Besides, increasing investments by key players in research and development activities to upgrade their product portfolios and offer automated machines would aid growth.
The food and pharmaceutical industries are likely to boost the market for thermoforming machines as they are extensively used across these industries. To pack goods within a minimal time limit and enhance a product’s shelf life, automatic thermoforming machines are used in the above-mentioned industries.
Key Takeaways:
- The global industrial furnaces market is estimated to register a CAGR of 4.3% with a valuation of US$ 1,463.9 million by 2033.
- The market captured a CAGR of 3.2% in the historical period between 2018 and 2022.
- The United States is anticipated to dominate the global market by registering a maximum share during the forecast period.
“Rising demand for packaged fruit juices, carbonated drinks, milk, and mineral water across the globe is likely to drive the market. In addition, surging use of advanced thermoforming machines to pack cosmetics and personal care products would aid growth,” says an FMI analyst.
Use of Automated Thermoforming Machines across the Food Processing Industry to Augment Sales
From production and packaging to retail, the food sector houses a large number of companies. Automation of the packaging process affects almost every aspect of food processing. Food processing companies are actively taking advantage of innovative machinery and equipment to address the issue of time constraints that occur due to manual operations.
Automated food processing and packaging machines not only minimize or change the final output fluctuations but also lower waste generation. Several food processors are consistently introducing new thermoforming machines in their packaging lines and upgrading their existing offerings to drive sales.
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Extensive Use of Thermoforming Machines in the Pharmaceutical Industry to Create Growth Opportunities
Increased awareness regarding health and hygiene have resulted in the high demand for pharmaceutical products such as disinfectants packed in thermoformed packaging. Leading pharmaceutical companies have started offering gels, lotions, and creams in this type of packaging to keep up with surging demand from modern-day consumer bases. The pharmaceutical industry is expected to witness significant growth over the next decade, which will have a direct positive impact on the sales of thermoforming machines used in the production of medicines.
Competitive Landscape: Thermoforming Machines Market
Key players operating in the thermoforming machines market are UltraSource LLC, Thermoforming Inc., Colimatic USA, Hualian Machinery, Lumar Idéal, FL TÈCNICS ÍNDEX, S.L., Utien Pack Co, Ltd., SIA SCANDIVAC, and MAAC Machinery Co., Inc., Mespack, Zhucheng Yide Machinery Co., Ltd., GN Thermoforming, WM Thermoforming Machines, SencorpWhite, Inc., Ridat Company, LX PLASTIC MACHINERY LIMITED, and Gabler Thermoform GmbH & Co. Kg.
Get More Insights on Thermoforming Machines Market
Future market insights, in its new report, offers an unbiased analysis of the global thermoforming machines market, analyzing historical demand from 2015-2021 and forecast statistics for 2022-2032. The study reveals market growth projections on thermoforming machines based on the operating type (manual, semi-automatic, and automatic), orientation (horizontal and vertical), and application (food, pharmaceutical, cosmetics & personal care, electrical & electronics, and others (chemicals, etc.)) across seven regions.
Thermoforming Machines Market Outlook By Category
By Operating Type:
- Manual
- Semi-automatic
- Automatic
By Orientation:
- Horizontal
- Vertical
By Application:
- Food
- Pharmaceutical
- Cosmetics & Personal Care
- Electrical & Electronics
- Others (Chemicals, etc.)
By Region:
- North America
- Latin America
- Europe
- South Asia
- East Asia
- Middle East & Africa
- Oceania
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