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Thermoforming Plastic Market is Segmented by Plastic type (PP, PS, PE, PVC, Bio plastic, ABS), Thermoforming type (Vacuum forming, pressure forming, mechanical forming), Thickness (Thin gauge, thick gauge), End user (Food & agricultural packaging, consumer goods & appliances, healthcare & pharmaceutical, construction, electrical & electronics, automotive packaging & structures, others) and Region, Global trends and forecast from 2022 to 2029
Thermoforming plastic market is expected to grow at 5.7% CAGR from 2022 to 2029. It was valued 42.90 billion at 2020. It is expected to reach above USD 70.66 billion by 2029.
Segment Analysis
Thermoforming plastic market is segmented based on plastic type, thermoforming type, thickness, end user and region.
By plastic type the market is segmented into polypropylene (PP), polystyrene (PS), polyethylene (PE), poly vinyl chloride (PVC), bio plastic, acrylonitrile butadiene styrene. In 2021, the polypropylene (PP) market held a monopoly over the thermoformed plastics industry. In terms of volume and value, PP dominates the global market for thermoforming plastics used in libraries. This is a result of the extensive usage of this plastic in packaging for goods like food, medical equipment, and automobiles. It is perfect for packaging applications because of its great strength-to-weight ratio, excellent energy management, tenacity, superior chemical resistance, and durability.
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