Thermoforming Plastic Market worth $45.9 billion by 2024

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Thermoforming Plastic Market worth 45.9 billion
by 2024
The report "Thermoforming Plastic Market by
Plastic Type (PP, PS, PET, PE, PVC, Bio-plastics,
ABS), Thermoforming Type (Vacuum Formed, Pressure
Formed, Mechanical Formed), Parts Type (Thin
Gauge, Thick Gauge), End-use Industry, and Region
- Global Forecast to 2024" The thermoforming
plastic market size is expected to grow from USD
34.8 billion in 2019 to USD 45.9 billion by 2024,
at a CAGR of 5.7 during the forecast period. 
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Introduction
The thermoforming plastic industry is growing due
to the rising healthcare pharmaceuticals and
food agriculture packaging industries and
increasing manufacturing activities. The
increasing popularity of retail shopping and
rising consumer spending for processed packed
goods are fuelling the demand for thermoforming
plastic. The growing demand from food packaging
and healthcare pharmaceutical industries are
the major drivers for the market.  Factors such
as changing demographics and lifestyles have
shifted the market toward e-retailing channels
and convenient packaging, which in turn will
drive the demand for thermoforming plastic.
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Recent Developments

• In October 2018, Genpak LLC launched new product
  Clover, which is a microwavable, reusable, and
  recyclable container that was created as a
  sustainable, affordable option. This helped the
  company to make a significant contribution to
  innovative dining concepts like home delivery and
  upscale catering.
• In December 2018, Fabri-Kal Corporation expanded
  the production line of its SideKicks Containers.
  The company is now providing new 12 and 16 oz.
  SideKicks Containers. This helped the company to
  meet the demand of its customers.
• In July 2019, Berry Global acquired RPC Group Plc
  at approximately 6.5 billion.  This gave the
  company an opportunity to leverage their combined
  know-how in innovative material science, product
  development, and manufacturing technologies.

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Key Questions Addressed by the Report

• Which are the major end-use industries of
  thermoforming plastic?
• Which industry is the major consumer of
  thermoforming plastic?
• Which region is the largest and fastest-growing
  market for thermoforming plastic?
• What are the major plastic types of thermoforming
  plastic?
• What are the major thermoforming types of
  thermoforming plastic?

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Most active players in the modular chillers
market
Fabri-Kal Corp. (US), Berry Global Inc. (US),
Genpak LLC (US), Pactiv LLC (US), DW Fine Pack
LLC (US), Amcor Ltd. (Australia), Dart Container
Corp. (US), Anchor Packaging (US), Sabert
Corporation (US), Sonoco Products Company (US)
were some of the key players in the global
Thermoforming Plastic market. These players have
adopted various organic and inorganic
developmental strategies over the past five
years.  
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On The Basis Of Region
North America is projected to be the largest
market The demand for thermoforming plastic will
be driven by factors such as increasing
electronic goods sales, high disposable income,
increasing demand for packaged foods, and
demographic changes. North America is home to
some of the prominent thermoforming plastic
manufacturers such as Pactiv LLC, Sonoco Products
Company, DW Fine Pack LLC, and so on.
Technological advancements in the packaging
industry primarily drive the market in this
region.
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