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Thermoform packaging is named so due to the way it is manufactured: Thermoplastic films are heated to the point of melting and then simply molded into the shape desired in the particular application. It may seem like the simplest of things to produce thermoform packaging, but the growing demand for the same across the industrial sector has made the global thermoform packaging market a highly complicated jumble of major plastics industry players, environmental regulations, and consumer expectations.
Competitive Analysis
Leading players in the global thermoform packaging market include Constantia Flexibles Group GmbH, Tekni-plex Inc., Anchor Packaging, Silgan Holdings Inc., RPC Group PLC
Segmentation
The global thermoform packaging market is segmented on the basis of type, material, heat seal coating type, application, and region. COVID-19 Impact
By type, the global thermoform packaging market is segmented into blister packaging, skin packaging, clamshell packaging, and others.
By heat seal coating type, the global market 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 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 COVID-19 Impact 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 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 market 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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