India 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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India thermoformed plastic market highlights
- The India thermoformed plastic market generated a revenue of USD 735.4 million in 2023 and is expected to reach USD 1,110.6 million by 2030.
- The India market is expected to grow at a CAGR of 6.1% 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 735.4 million |
| Market revenue in 2030 | USD 1,110.6 million |
| Growth rate | 6.1% (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, India accounted for 5.0% 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.
As of December 2022, India had approximately 30,000 plastic manufacturers with an employee strength of around 4 million individuals. Population expansion and the growth of manufacturing sectors such as the automotive industry are the key factors driving the thermoformed plastics market.
The demand for thermoformed plastics in the country has been ascending rapidly owing to the presence of a strong chemical sector, which is supporting the thermoformed plastics market. Various end-use industries in India such as construction, packaging, and automotive are witnessing growth.
Rapid industrialization and urbanization have led to an increasing need for food and non-food goods in the country. Rising disposable income has made it possible for consumers to afford finished products more easily.
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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/ |
India 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 21.87% in 2023.
Horizon Databook has segmented the India 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 December 2022, India had approximately 30,000 plastic manufacturers with an employee strength of around 4 million individuals. Population expansion and the growth of manufacturing sectors such as the automotive industry are the key factors driving the thermoformed plastics market.
The demand for thermoformed plastics in the country has been ascending rapidly owing to the presence of a strong chemical sector, which is supporting the thermoformed plastics market. Various end-use industries in India such as construction, packaging, and automotive are witnessing growth.
Rapid industrialization and urbanization have led to an increasing need for food and non-food goods in the country. Rising disposable income has made it possible for consumers to afford finished products more easily.
- India 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)
- India Thermoformed Plastic Market Process Outlook (Revenue, USD Million , 2019-2030)
- Plug assist forming
- Thick gauge thermoforming
- Thin gauge thermoforming
- Vacuum snapback
- India 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 India Thermoformed Plastic Market Outlook, including forecasts for subscribers. This country databook contains high-level insights into India Thermoformed Plastic Market Outlook from 2019 to 2030, including revenue numbers, major trends, and company profiles.
India Thermoformed Plastic Market, 2019-2030 (US$M)
India thermoformed plastic market statistics, by product, 2019-2030 (US$M)
