Asia Pacific Thermoformed Plastic Market Size & Outlook
- Plastics Polymers & Resins
- Plastic Resins
- Thermoformed Plastic Market Outlook
- Plastic Resins
Global Market
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Asia Pacific thermoformed plastic market highlights
- The Asia Pacific thermoformed plastic market generated a revenue of USD 6,869.8 million in 2023.
- The market is expected to grow at a CAGR of 5.6% from 2024 to 2030.
- In terms of segment, polypropylene (pp) was the largest revenue generating product in 2023.
- Polymethyl methacrylate (PMMA) is the most lucrative product segment registering the fastest growth during the forecast period.
- Country-wise, India is expected to register the highest CAGR from 2024 to 2030.
Asia Pacific data book summary
| Market revenue in 2023 | USD 6,869.8 million |
| Market revenue in 2030 | USD 10,030.3 million |
| Growth rate | 5.6% (CAGR from 2023 to 2030) |
| Largest segment | Polypropylene (pp) |
| Fastest growing segment | Polymethyl methacrylate (PMMA) |
| Historical data covered | 2019 - 2022 |
| Base year for estimation | 2023 |
| Forecast period covered | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Polymethyl methacrylate (PMMA), Bio-degradable polymers, Polyethylene (PE), Acrylonitrile butadiene styrene (ABS), Poly vinyl chloride (PVC), High impact polystyrene (HIPS), Polystyrene (PS), Polypropylene (PP) |
| Key market players worldwide | Pactiv Evergreen Inc Ordinary Shares, Genpak, Sonoco Products Co, Packaging Corp of America, PLACON, Brentwood Industries, Greiner Bio-One, Palram Industries (1990) Ltd |
Other key industry trends
- In terms of revenue, Asia Pacific region accounted for 46.4% of the global thermoformed plastic market in 2023.
- Globally, Asia Pacific is projected to lead the regional market in terms of revenue in 2030.
- Asia Pacific is the fastest growing regional market and is projected to reach USD 10,030.3 million by 2030.
Southeast Asian countries such as Thailand, Vietnam, Indonesia; China; Japan; and India are expected to emerge as the primary growth markets for thermoformed plastics in the Asia Pacific over the forecast period.
The growing manufacturing sector is expected to propel the demand for thermoformed plastics in the construction, automotive, industrial machinery, packaging, and electrical & electronics industries. Vehicle production in China and India has surged in recent years as technology transfers to the industry from Western markets.
In addition, a well-established manufacturing base for electrical & electronics in China, Taiwan, and South Korea is anticipated to provide further impetus to the thermoformed plastics market. India has a strong chemical manufacturing base that strengthens its production of thermoformed plastics.
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Thermoformed Plastic Market Scope
Thermoformed Plastic Market Companies
| Name | Profile | # Employees | HQ | Website |
|---|---|---|---|---|
| Sonoco Products Co | View profile | 23,000 | 1 N. Second Street, Hartsville, SC, United States, 29550 | www.sonoco.com |
| Palram Industries (1990) Ltd | View profile | 1,531 | Kibbutz Ramat-Yohanan, Ramat-Yohanan, Israel, 30035 | www.palram.com |
| Pactiv Evergreen Inc Ordinary Shares | View profile | 15,000 | 1900 West Field Court, Lake Forest, IL, United States, 60045 | www.pactivevergreen.com |
| PLACON | View profile | 251-500 | Madison, Wisconsin, United States, North America | medical.placon.com |
| Genpak | View profile | 1001-5000 | Charlotte, North Carolina, United States, North America | www.genpak.com |
| Packaging Corp of America | View profile | 14,900 | 1 North Field Court, Lake Forest, IL, United States, 60045 | www.packagingcorp.com |
| Greiner Bio-One | View profile | 1001-5000 | Monroe, North Carolina, United States, North America | www.gbo.com/en_US/ |
| Brentwood Industries | View profile | 501-1000 | Reading, Pennsylvania, United States, North America | www.brentwoodindustries.com/ |
Asia Pacific Thermoformed Plastic Market Outlook
The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to Thermoformed Plastic Market Outlook will help companies and investors design strategic landscapes.
Polypropylene (Pp) was the largest segment with a revenue share of 21.97% in 2023.
Horizon Databook has segmented the Asia Pacific thermoformed plastic market based on polymethyl methacrylate (pmma), bio-degradable polymers, polyethylene (pe), acrylonitrile butadiene styrene (abs), poly vinyl chloride (pvc), high impact polystyrene (hips), polystyrene (ps), polypropylene (pp) covering the revenue growth of each sub-segment from 2019 to 2030.
Southeast Asian countries such as Thailand, Vietnam, Indonesia; China; Japan; and India are expected to emerge as the primary growth markets for thermoformed plastics in the Asia Pacific over the forecast period.
The growing manufacturing sector is expected to propel the demand for thermoformed plastics in the construction, automotive, industrial machinery, packaging, and electrical & electronics industries. Vehicle production in China and India has surged in recent years as technology transfers to the industry from Western markets.
In addition, a well-established manufacturing base for electrical & electronics in China, Taiwan, and South Korea is anticipated to provide further impetus to the thermoformed plastics market. India has a strong chemical manufacturing base that strengthens its production of thermoformed plastics.
- Asia Pacific Thermoformed Plastic Market Product Outlook (Revenue, USD Million , 2019-2030)
- Polymethyl methacrylate (PMMA)
- Bio-degradable polymers
- Polyethylene (PE)
- Acrylonitrile butadiene styrene (ABS)
- Poly vinyl chloride (PVC)
- High impact polystyrene (HIPS)
- Polystyrene (PS)
- Polypropylene (PP)
- Asia Pacific Thermoformed Plastic Market Process Outlook (Revenue, USD Million , 2019-2030)
- Plug assist forming
- Thick gauge thermoforming
- Thin gauge thermoforming
- Vacuum snapback
- Asia Pacific Thermoformed Plastic Market Applications Outlook (Revenue, USD Million , 2019-2030)
- Healthcare & medical
- Food packaging
- Electrical & electronics
- Automotive
- Construction
- Consumer goods & appliances
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Horizon Databook provides a detailed overview of continent-level data and insights on the Asia Pacific Thermoformed Plastic Market Outlook, including forecasts for subscribers. This continent databook contains high-level insights into Asia Pacific Thermoformed Plastic Market Outlook from 2019 to 2030, including revenue numbers, major trends, and company profiles.
Asia Pacific Thermoformed Plastic Market, 2019-2030 (US$M)
Asia Pacific thermoformed plastic market statistics, by product, 2019-2030 (US$M)
