China Thermoformed Plastic Market Size & Outlook, 2023-2030
- Plastics Polymers & Resins
- Plastic Resins
- Thermoformed Plastic Market Outlook
- Plastic Resins
Global Market
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China thermoformed plastic market highlights
- The China thermoformed plastic market generated a revenue of USD 4,768.5 million in 2023 and is expected to reach USD 6,922.8 million by 2030.
- The China market is expected to grow at a CAGR of 5.5% 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 4,768.5 million |
| Market revenue in 2030 | USD 6,922.8 million |
| Growth rate | 5.5% (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, China accounted for 32.2% 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 Asia Pacific, China thermoformed plastic market is projected to lead the regional market in terms of revenue in 2030.
- India is the fastest growing regional market in Asia Pacific and is projected to reach USD 1,110.6 million by 2030.
China emerged as the leading thermoformed plastics manufacturer in 2022 globally. The country is selfsufficient in the production of thermoformed plastics with a sufficient number of factories and production capacity required to meet local demand.
China thermoformed plastics market is anticipated to witness promising growth over the forecast period, due to the growth of the automotive and electronic market and subsequent demand for lightweight components to improve the efficiency of the vehicle and reduce the weight of electronics components are the major factors contributing to the demand for thermoformed plastics in the country.
The motor vehicle industry in the country is expanding on account of a strong need for automobiles, because according to Organisation Internationale des Constructeurs d'Automobiles (OICA), China was the largest producer of vehicles in Asia Pacific and produced 26.08 million vehicles in 2021.
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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/ |
China 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 22.01% in 2023.
Horizon Databook has segmented the China 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.
China emerged as the leading thermoformed plastics manufacturer in 2022 globally. The country is selfsufficient in the production of thermoformed plastics with a sufficient number of factories and production capacity required to meet local demand.
China thermoformed plastics market is anticipated to witness promising growth over the forecast period, due to the growth of the automotive and electronic market and subsequent demand for lightweight components to improve the efficiency of the vehicle and reduce the weight of electronics components are the major factors contributing to the demand for thermoformed plastics in the country.
The motor vehicle industry in the country is expanding on account of a strong need for automobiles, because according to Organisation Internationale des Constructeurs d'Automobiles (OICA), China was the largest producer of vehicles in Asia Pacific and produced 26.08 million vehicles in 2021.
- China 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)
- China Thermoformed Plastic Market Process Outlook (Revenue, USD Million , 2019-2030)
- Plug assist forming
- Thick gauge thermoforming
- Thin gauge thermoforming
- Vacuum snapback
- China 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 China Thermoformed Plastic Market Outlook, including forecasts for subscribers. This country databook contains high-level insights into China Thermoformed Plastic Market Outlook from 2019 to 2030, including revenue numbers, major trends, and company profiles.
China Thermoformed Plastic Market, 2019-2030 (US$M)
China thermoformed plastic market statistics, by product, 2019-2030 (US$M)
