Thermoform packaging is a process used in the manufacturing of packaging solutions where a thermoplastic sheet is heated to a pliable forming temperature, formed into a specific shape using a mold, and then trimmed to create the final package. This packaging method is widely used for various products in industries such as food, pharmaceuticals, electronics, and consumer goods.
The thermoform packaging market size is projected to be valued at US$ 50.390 Mn in 2023 and it is anticipated to surpass US$ 84.450 Mn by 2033. The adoption of thermoform packaging is anticipated to rise at a CAGR of 5.3% during the forecast period.
Anticipated market growth is poised to be driven by an upswing in the availability of convenience foods, with a particular focus on ready-to-eat meals and packaged meat and fish offerings. This momentum is further propelled by the global expansion of organized retail and e-commerce channels, creating a favorable landscape over the projected period. In the thermoforming process, manufacturers subject thermoplastic sheets to elevated temperatures, inducing softening, followed by molding using casts. The iterative application of heat, suction, and compression shapes these sheets into the final products.
Research findings underscore the potential of thermoform packaging to yield cost reductions of up to 15% compared to packaging produced through plastic injection molding. This revelation indicates a promising trajectory for widespread industry adoption in the foreseeable future, signaling positive prospects for the thermoform packaging segment.
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Key aspects related to thermoform packaging:
- Thermoplastic Materials:
- Thermoform packaging utilizes thermoplastic materials such as polyethylene (PE), polypropylene (PP), polyvinyl chloride (PVC), polystyrene (PS), and others. The choice of material depends on factors like product requirements, barrier properties, and recycling considerations.
- Heating and Forming Process:
- The thermoforming process involves heating a flat thermoplastic sheet to a pliable temperature. The heated sheet is then placed over a mold, and a vacuum or pressure is applied to shape the material according to the mold contours.
- Vacuum Forming vs. Pressure Forming:
- In vacuum forming, a vacuum is applied to draw the heated plastic sheet into the mold cavities. Pressure forming, on the other hand, involves using additional pressure to force the plastic into the mold for more intricate shapes and finer details.
- Product-specific Molds:
- Thermoform packaging requires molds specific to the shape and size of the product. These molds are crucial for achieving consistent and precise packaging for each item.
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Competitive Landscape
Competitors have merged with and acquired other companies in the thermoforming sector, which has helped them boost their market share. Through continual research and development projects, market participants have also been able to incorporate improvements in their goods that allow them to provide sustainability to their clients.
Some of the significant participants that are included in the report are Mondi Group, Placon Corp., Display Pack, Inc., Pactiv LLC, Amcor, Sonoco Products Company, Dart Container Corp., Constantia, Tray-Pak Corp., D&W Fine Pack, Lacerta Group, Inc., RPC Group Plc, Silgan Holdings, Inc., Sinclair & Rush, Inc. Rompa Group.
Recent Developments in the Thermoform Packaging Market
- In October 2019, COEXPAN unveiled CorePET, a brand-new 100% rPET sheet developed exclusively for the thermoform packaging industry.
- The Mondi Group created a polypropylene film that is 100% recyclable for use in thermoforming flexible films for modified atmosphere packaging (MAP) and vacuum packaging to extend the shelf life of products like meat and cheese. The device offers a 23% reduction in carbon footprint compared to conventional packaging and is completely recyclable in existing waste streams. The internal barrier layer accounts for less than 5% of the whole structure.
- Pactiv LLC took the lead in the market in 2020 as a result of its wide range of products, particularly for the food and beverage industry, and strong North American presence.
Segmentation
By Material:
- PET
- PVC
- PS
- PP
- PE
- Others
By Product:
- Blister
- Clamshell
- Skin Packaging
- Trays & Lids
- Containers
- Others
By Heat Seal Coating:
- Hot Melt-Based
- Solvent-Based
- Water-Based
By End User:
- Food & Beverage
- Personal Care & Cosmetics
- Pharmaceuticals
- Electronics
- Homecare
- Others
By Region:
- North America
- Latin America
- Asia Pacific
- Eastern Europe
- Western Europe
- Japan
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