The report forecasts the global thermoformed packaging market to grow at a CAGR of 5.02% during the period 2016-2020.
The report has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.
One of latest trends in the market is increasing use of PLA films in thermoforming. PLA films used in thermoforming packaging are highly transparent and glossy, which is the main characteristic most manufacturers look for in thermoformed packaging. PLA films exhibit high tensile strength in comparison with other films like PET and PVC. Due to its intrinsic high value of surface tension, which ranges between 36 mN/m to 38 mN/m, PLA is easily printable. Tray manufactured through thermoformed process using PLA films shows high sealability at temperatures much lower than that with other films.
According to the report, one of the primary drivers in the market is use of thermoformed packaging in thin-walled containers. Thermoformed packaging is used mainly for products that have limited depth of draw and materials that have a sheet thickness of less than 1 mm. Thin-walled containers include disposable food containers and cups, lightweight trays, and packaging for consumer goods. In thermoforming, the cost of thermoformed machine tools is much less compared with injection molding tools. The cost of thermoformed machines is $35,000 per piece. On the other hand, injection molding machine costs $22,500.There is a growing demand for thin-walled cups, tubs, and containers for packaged food. Thermoforming process brings down the wall thickness and weight of the cup to a minimum possible limit and provides high impact and stiffness properties. Thin-walled packaging through thermoforming process results in energy saving by 30%, and there is very less material loss.
Further, the report states that one major challenge in the market is adverse impacts of PVC films. PVC accounts for 32% of the total raw material that is used for thermoformed packaging. Though it has high barrier properties and is water and moisture ingress, PVC films have a negative impact on the environment.