GVR Report cover North America Thermoformed Plastics Market Size, Share & Trends Report

North America Thermoformed Plastics Market Size, Share & Trends Analysis Report By Product (PMMA, Bio-degradable Polymers, PE, ABS, PVC, High Impact Polystyrene, PS, PP), By Process, By Application, And Segment Forecasts, 2021 - 2028

  • Report ID: GVR-4-68038-349-2
  • Number of Pages: 68
  • Format: Electronic (PDF)

Report Overview

The North America thermoformed plastics market size was valued at USD 6.71 billion in 2020 and is expected to expand at a compound annual growth rate (CAGR) of 3.8% from 2021 to 2028. Factors such as the growing urbanization, increasing disposable income, and rapid industrialization across the world have propelled the demand for equipment used in automotive, food packaging, electrical and electronics, medical and healthcare, construction, and other industries. Due to their good plasticity, durability, toughness, transparency, high heat and chemical resistance, and lightweight characteristics, thermoformed plastics have gained traction in end products such as car headlights, visors, bottles, food packaging films, window frames, smartphones, and other devices.

U.S. thermoformed plastics market size, by product, 2018 - 2028 (USD Billion)

The U.S. accounted for a revenue share of more than 75.0% in the North American market in 2020. This is attributed to the wider availability of different types of products produced from propylene used in the food and automotive industries. The market in the U.S. is expected to be driven by the increasing urban population leading to growth in the consumption of packaged food and the rising popularity of single-serve packs.

The increasing product innovation, innovative packaging, changing lifestyle, rising number of dual-income families, and hectic schedules of consumers have boosted the demand for packaged foods in the U.S. Moreover, the growing trend of plant-based and organic foods is driving the market. In addition, the rising health consciousness is gradually shifting consumers towards healthy food and drink alternatives.

The COVID-19 pandemic propelled the demand for consumer electronic products and products from the medical and healthcare sector due to work-from-home orders and increased hospitalization rates. Thermoformed plastics offer better precision and are economical. As a result, these plastics are used in medical cases, covers, enclosures, packaging, and trays.

Product Insights

The polypropylene segment accounted for the largest revenue share of more than 20.0% share in 2020. Properties such as good chemical resistance, toughness, integral hinge resistance, translucence, and good heat and fatigue resistance make recycled PP resins suitable for use in automotive foams and bumpers in automobiles, insulator in electrical and electronic devices, and specimen bottles, pill containers, and medical vials.

Acrylonitrile butadiene styrene (ABS) is gaining prominence in electrical and electronic consumer goods applications owing to the material’s high strength, rigidity, and dimensional stability. Its impact, chemical, and heat resistant ability make it suitable to be used in the manufacturing of enclosures for smartphones and laptops. ABS can be easily blow molded and recycled.

Polymethylmethacrylate (PMMA) offers high light transmittance and high resistance to UV light, which makes it ideal for outdoor applications exposed to sunlight including skylights, airplane windshields, outdoor signs, and automobile taillights. Volatility in the prices of key raw materials and the growing environmental concerns regarding the disposal of plastic waste has created new opportunities for bio-based polymers.

Process Insights

The thin gauge thermoforming process segment accounted for the largest revenue share of more than 30.0% in 2020 as thin gauge plastics are usually under .06 inches thick and flexible. The thin gauge thermoforming process is used in disposable and recyclable plastics manufacturing. This makes it suitable to be used in the production of clamshell packaging, candy trays, and protective plastics of cosmetics packaging.

The thick gauge thermoforming process is used in the production of sturdier and longer-lasting components. In thick-gauge thermoforming, the thickness of thermoplastics enhances the overall durability of each product manufactured and is used for processing acrylonitrile butadiene styrene, polycarbonate, and high-density polyethylene. The thick gauge thermoforming process finds its application in the production of enclosures for medical equipment such as CAT, X-ray, and MRI scan machines, home appliances, and airport luggage totes.

Plug-assist thermoforming is used to process polyethylene, high-impact polystyrene, acrylonitrile butadiene styrene (ABS), acrylic, and high-density polyethylene (HDPE). This process is widely used in the manufacturing of thermoformed plastics in food packaging, display and outdoor signage, and promotional and branded products such as key rings, trophies, and cups.

Application Insights

The food packaging application segment led the market and accounted for a revenue share of more than 40.0% in 2020. Improved shelf life, coupled with heightened efficiency in the prevention of content contamination, is expected to boost the growth of the market. In addition, factors such as increasing population, rising disposable income, and shrinking households are having a positive impact on the market growth.

North America thermoformed plastics market share, by application, 2020 (%)

The presence of major automotive manufacturers has augmented the demand for thermoformed plastics for the manufacturing of products, such as seating parts, dashboards, bumpers, air ducts, truck bed liners, floor mats, and headlights. Moreover, the favorable government initiatives, subsidies, and tax rebate programs to promote electric vehicle adoption are expected to fuel the market growth in North America.

Country Insights

The U.S. dominated the market and accounted for a revenue share of over 75.0% in 2020. The thriving retail sector, high consumption of packaged food by consumers, and the presence of a large number of manufacturers are expected to drive the demand for food packaging solutions in North America.

The increasing investments and developments in the medical and healthcare industry are expected to propel the demand for thermoplastic compounds in the U.S. For instance, in June 2020, Catalent, Inc. and Moderna, Inc. entered into a strategic collaboration to develop a new high-speed vial filling line for the production of the Moderna COVID-19 Vaccine. Catalent, Inc. will oversee the production of the COVID-19 vaccine and also provide inspection, labeling, cartoning, and final packaging.

Key Companies & Market Share Insights

The North American market is characterized by the presence of key players, along with a few medium and small regional players. Established players such as Placon are investing in the development of innovative and sustainable solutions for the development of their product portfolio, thus giving them an edge over their competitors.

For instance, in July 2020, Placon introduced a new Fresh ‘N Clear GoCubes, a 14-ounce inert tray, to its existing food packaging product line. This product is specifically designed for the company’s GoCubes CC1 packaging option and enables the customers to add chips or salad as sides along with the sandwich. Some prominent players in the North America thermoformed plastics market include:

  • Pactiv LLC

  • Palram Industries Ltd.

  • Sonoco Products Company

  • CM Packaging

  • Placon

North America Thermoformed Plastics Market Report Scope

Report Attribute


Market size value in 2021

USD 6.84 billion

Revenue forecast in 2028

USD 8.86 billion

Growth Rate

CAGR of 3.8% from 2021 to 2028

Base year for estimation


Historical data

2017 - 2019

Forecast period

2021 - 2028

Quantitative units

Volume in kilotons, revenue in USD million/billion, and CAGR from 2021 to 2028

Report coverage

Volume forecast, revenue forecast, company profiles, competitive landscape, growth factors, and trends

Segments covered

Product, process, application, country

Regional scope

North America

Country Scope

U.S.; Canada; Mexico

Key companies profiled

Pactiv LLC; Palram Industries Ltd.; Sonoco Products Company; CM Packaging; Placon; Genpak, LLC; Brentwood Industries, Inc.; Greiner Packaging; Dongguan Ditai Plastic Products Co., Ltd.

Customization scope

Free report customization (equivalent up to 8 analyst’s working days) with purchase. Addition or alteration to country, regional, and segment scope.

Pricing and purchase options

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Segments Covered in the Report

This report forecasts revenue and volume growth at the regional and country levels and provides an analysis of the latest industry trends and opportunities in each of the sub-segments from 2017 to 2028. For this study, Grand View Research has segmented the North America thermoformed plastics market report based on product, process, application, and country:

  • Product Outlook (Volume, Kilotons; Revenue, USD Million, 2017 - 2028)

    • Polymethylmethacrylate (PMMA)

    • Bio-degradable Polymers

    • Polyethylene

    • Acrylonitrile Butadiene Styrene (ABS)

    • Polyvinyl Chloride (PVC)

    • High Impact Polystyrene

    • Polystyrene

    • Polypropylene (PP)

  • Process Outlook (Volume, Tons; Revenue, USD Million, 2017 - 2028)

    • Plug Assist Forming

    • Thick Gauge Thermoforming

    • Thin Gauge Thermoforming

    • Vacuum Snapback

  • Application Outlook (Volume, Tons; Revenue, USD Million, 2017 - 2028)

    • Medical & Healthcare

    • Food Packaging

    • Electrical & Electronics

    • Automotive

    • Construction

    • Consumer Goods & Appliances

    • Others

  • Country Outlook (Volume, Kilotons; Revenue, USD Million, 2017 - 2028)

    • U.S.

    • Canada

    • Mexico

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