Canada Thermoformed Plastic Market Size & Outlook, 2023-2030
- Plastics Polymers & Resins
- Plastic Resins
- Thermoformed Plastic Market Outlook
- Plastic Resins
Global Market
Related Markets
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Canada thermoformed plastic market highlights
- The Canada thermoformed plastic market generated a revenue of USD 313.5 million in 2023 and is expected to reach USD 443.0 million by 2030.
- The Canada market is expected to grow at a CAGR of 5.1% 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.
Thermoformed plastic market data book summary
| Market revenue in 2023 | USD 313.5 million |
| Market revenue in 2030 | USD 443.0 million |
| Growth rate | 5.1% (CAGR from 2023 to 2030) |
| Largest segment | Polypropylene (pp) |
| Fastest growing segment | Polymethyl methacrylate (PMMA) |
| Historical data | 2019 - 2022 |
| Base year | 2023 |
| Forecast period | 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, Canada accounted for 2.1% of the global thermoformed plastic market in 2023.
- Country-wise, China is expected to lead the global market in terms of revenue in 2030.
- In North America, U.S. thermoformed plastic market is projected to lead the regional market in terms of revenue in 2030.
- Mexico is the fastest growing regional market in North America and is projected to reach USD 331.9 million by 2030.
As of 2021, Canada is the fourth-largest producer of crude oil globally. Declining prices of crude oil coupled with increasing demand for thermoformed plastics in the region is paving the way for the growth of thermoformed plastics market.
These plastics are produced from various petrochemicals derived from crude oil. They provide strength and durability, and are light in weight, hence thermoformed plastics are being widely consumed across Canada.
Many new plastic manufacturers are emerging in Canada’s remote locations due to the country’s highly dispersed population. According to International Energy Agency (IEA), the per capita consumption of thermoformed plastics in the country is higher than the world’s average as of 2020.
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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/ |
Canada 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 21.88% in 2023.
Horizon Databook has segmented the Canada 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.
As of 2021, Canada is the fourth-largest producer of crude oil globally. Declining prices of crude oil coupled with increasing demand for thermoformed plastics in the region is paving the way for the growth of thermoformed plastics market.
These plastics are produced from various petrochemicals derived from crude oil. They provide strength and durability, and are light in weight, hence thermoformed plastics are being widely consumed across Canada.
Many new plastic manufacturers are emerging in Canada’s remote locations due to the country’s highly dispersed population. According to International Energy Agency (IEA), the per capita consumption of thermoformed plastics in the country is higher than the world’s average as of 2020.
- Canada 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)
- Canada Thermoformed Plastic Market Process Outlook (Revenue, USD Million , 2019-2030)
- Plug assist forming
- Thick gauge thermoforming
- Thin gauge thermoforming
- Vacuum snapback
- Canada 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 country-level data and insights on the Canada Thermoformed Plastic Market Outlook, including forecasts for subscribers. This country databook contains high-level insights into Canada Thermoformed Plastic Market Outlook from 2019 to 2030, including revenue numbers, major trends, and company profiles.
Canada Thermoformed Plastic Market, 2019-2030 (US$M)
Canada thermoformed plastic market statistics, by product, 2019-2030 (US$M)
