Competitive Analysis:
Leading players in the global Thermoform Packaging Market Growth include Constantia Flexibles Group GmbH, Tekni-plex Inc., Anchor Packaging, Silgan Holdings Inc., RPC Group PLC, Lacerta Group, Display Pack Inc., DS Smith PLC, Tray Pack Corporation, WestRock Company, E.I. du Pont de Nemours and Company, Sonoco Products Company, Sealed Air Corporation, Amcor Limited, and Bemis Company Inc.
In June 2019, Mondi launched a new polypropylene film for application in modified atmosphere and vacuum packaging. The film is designed with recyclability as the key concern and could be a major step for the company in producing a product catalog in line with the growing environmental concern in recent times. Focusing on the environmental impact of the products is likely to remain important for players in the Thermoform Packaging Market Growth over the forecast period.
Segmentation:
The global Thermoform Packaging Market Growth is segmented on the basis of type, material, heat seal coating type, application, and region.
By type, the global Thermoform Packaging Market Growth is segmented into blister packaging, skin packaging, clamshell packaging, and others.
By material, the Thermoform Packaging Market Growth is segmented into plastic, paper and paperboard, and aluminum. Plastic is likely to remain the dominant segment in the global Thermoform Packaging Market Growth over the forecast period.
By heat seal coating type, the global Thermoform Packaging Market Growth is segmented into water-based, solvent-based, and hot melt based. Solvent-based heat seal coating is the largest segment in the global Thermoform Packaging Market Growth and is likely to retain the position over the forecast period. The water-based heat seal coating segment is expected to exhibit the highest growth rate over the forecast period.
By application, the global Thermoform Packaging Market Growth is segmented into food and beverages, pharmaceuticals, electronics, personal care products, and others. The food and beverages segment is likely to remain the leading end-use segment for the Thermoform Packaging Market Growth over the forecast period due to the growing demand for packaged food.
Regional Analysis:
Europe, followed by North America, is expected to dominate the global Thermoform Packaging Market Growth over the forecast period due to the increasing demand to introduce environmentally sustainable, quality ingredients in the whole product lifecycle of consumer-centric products such as food and beverages, pharmaceuticals, and personal care products. Asia Pacific is expected to exhibit the fastest growth rate over the forecast period.
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