Future Market Insights
The demand within the global thermoformed tubs market has been rising on account of the stellar pace of growth within the packaging industry. Several research organisations pertaining to various industries have focused on the need for improved packaging. This assertion comes from the need for protect products of all types, ranging from food and beverages to electronics. Hence, the global thermoformed tubs market is projected to expand at a stellar pace with advancements in key end-use industries. The need for transporting sensitive fluids in multiple industries has emerged as a key dynamic of growth within the global thermoformed tubs market. Hence, the revenues within the global thermoformed tubs market are projected to multiply in the years to follow.
The need for thermoformed tubs in the electronics industry has created ripples across the global thermoformed tubs market. Thermoformed tubs can help in ensuring that the poured liquids do not undergo any type of physical or chemical changes. This makes these tubs apt for usage across a plethora of chemical and industrial domains. Moreover, the advent of thermoformed birthing tubs used during child birth has also played to the advantage of the global thermoformed tubs market.
On the basis of geography, the global thermoformed tubs market has been segmented into Latin America, North America, the Middle East and Africa, Europe, and Asia Pacific. The market for thermoformed tubs in North America is expanding alongside advancements in the field of neonatal care across the US. Besides, the growth of the food industry in North America has also aided regional market growth.
Plastics are considered to be an important part of packaging across formats and across end use industry. In recent years due to advancement and innovation in packaging technology, different techniques are used for making plastic tubs/containers which are tougher and can be multipurpose. Thermoformed tubs are manufactured by molding plastics into various sizes and shapes by applying vacuum or pressure on it. Thermoformed tubs are also heat and cold resistant which makes it easy to pour hot fills and can be refrigerated Thermoformed tubs have to turned out to be a primary part of the compact packaging. Thermoformed tubs possess the property of toughness which makes it a good option for packaging when it comes to transportation. Thermoformed tubs are widely used in food industry for packaging of fresh and produced meals. Other industries where thermoformed tubs used are pharmaceuticals, electronics, cosmetics, healthcare, etc.
Global Thermoformed Tubs - Market Dynamics:
Thermoformed tubs are extensively used in packaging due to their toughness and flexibility. Thermoformed tubs are mainly used in food industry. Due to the rapid growth of food sector and the need for its packaging, the market for thermoformed tubs is expected to witness growth over the forecast period 2017-2025. In addition, the automation in the field of thermoformed packaging has positively impacted the growth for thermoformed tubs market. With the rising demand of electronics and its packaging for protecting appliances, the thermoformed tubs market has seen expansion over the forecast market. Thermoformed tubs are also used for packaging of medicines, and this trend is expected to grow in further years due to extensive growth of the pharmaceutical sector. Thermoformed tubs market faces the challenges of strict norms from the government for pertaining to the use of plastics in the manufacturing process and its waste management issues. Thermoformed tubs are difficult to manufacture with the precise thickness of the walls; as a result, it faces challenges of finding a substitute for getting a precise shape.
Global Thermoformed Tubs - Market Segmentation:
The thermoformed tubs can be segmented by material type, by shape, and by end use.
On the basis of material type, the global thermoformed tubs are segmented into:
Polyethylene terephthalate (PET)
Polyvinyl Chloride (PVC)
Ethyl Vinyl Alcohol (EVOH)
On the basis of shape, the global thermoformed tubs are segmented into:
On the basis of end use, the global thermoformed tubs are segmented into:
Food & Beverages
Personal care & cosmetics
Global Thermoformed Tubs Market- Regional Overview:
The global thermoformed tubs market can be segmented on the basis of region such as:
Middle East & Africa
North America region is the foremost market for thermoformed tubs market and is driving the global demand. Europe region is also expected to see above average growth of thermoformed tubs market over the forecast period. Countries such as the UK, Italy, Germany and France are the top thermoformed tubs market. APEJ region is expected to have anticipation in the growth over the forecast period for thermoformed tubs market. Markets in China and India would witness the highest CAGR growth for thermoformed tubs. Latin America region due to emerging countries like Brazil and Mexico would have anticipation in demand for thermoformed tubs market. The Middle East and Africa region are estimated to have a considerable increase in the thermoformed tubs market for South Africa and GCC. Japan is also expected to have substantial growth of thermoformed tubs market.
Global Thermoformed Tubs Market – Key players:
Some of the players in the thermoformed tubs market are Silgan Holdings Inc, Astrapak Ltd, Universal Plastics Corporation, Plast-Pack GmbH, STM Plastics, Shepherd Thermoforming & Packaging Inc., Lucky Time Pack Material Co., Ltd., Greiner Packaging GmbH, Ditai Plastic Products Co., Ltd., Tengyue Display Co., Ltd., and Swellder Electronics Technology Co., Ltd.
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