North America Thermoformed Plastics Market Size, Share, & Trends 2030
The North America Thermoformed Plastics market size was valued at US$ 7.11 billion in 2021 and is expected to hit US$ 10.7 billion by 2030, growing at a compound annual growth rate (CAGR) of 3.8% from 2022 to 2030.
Growth Factors:
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.
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.
Report Scope of the North America Thermoformed Plastics Market
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Report Coverage |
Details |
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Market Size in 2021 |
USD 7.11 Billion |
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Revenue Projection By 2030 |
USD 10.7 Billion |
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Growth Rate |
CAGR of 3.8% from 2022 to 2030 |
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Base Year |
2021 |
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Historical data |
2017 - 2020 |
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Forecast Period |
2022 to 2030 |
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Segments Covered |
U.S.; Canada; Mexico |
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Companies Mentioned |
Pactiv LLC; Palram Industries Ltd.; Sonoco Products Company; CM Packaging; Placon; Genpak, LLC; Brentwood Industries, Inc.; Greiner Packaging; Dongguan Ditai Plastic Products Co., Ltd. |
Product Insights
The polypropylene segment accounted for the largest revenue share of more than 21.0% share in 2021. 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 31.1% in 2021 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 41.1% in 2021. 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.
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 76.4% in 2021. 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 202o, 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:
Segments Covered in the Report
This research report offers market revenue, sales volume, production assessment and prognoses by classifying it on the basis of various aspects. Further, this research study investigates market size, production, consumption and its development trends at North America for the period of 2017 to 2030
Key Points Covered in North America Thermoformed Plastics Market Study:
Chapter 1 Methodology and Scope
1.1 Research Methodology
1.2 Research scope and assumptions
1.3 Information Procurement
1.3.1 Purchased Database
1.3.2 Nova one advisor’s Internal Database
1.3.3 Secondary Sources
1.3.4 Third Party Perspective
1.3.5 Primary Research
1.4 Information Analysis
1.4.1 Data Analysis Models
1.5 Market Formulation and Data Visualization
1.6 Data Validation and Publishing
1.7 List of Abbreviations
Chapter 2 Executive Summary
2.1 Market Summary
2.2 Segmental Outlook
Chapter 3 Market Variables, Trends, and Scope
3.1 Market lineage outlook
3.1.1 Global Thermoformed Plastics Market Outlook
3.2 Penetration & growth prospect mapping
3.3 Industry value chain analysis
3.3.1 Raw Material Trends
3.4 Technology Overview
3.4.1 In-line or roll-fed thermoforming
3.4.2 Shuttle or SHeet-fed thermoforming
3.4.3 Rotary thermoforming
3.5 Regulatory Framework
3.5.1 Standard & Compliances
3.5.2 Safety
3.6 Market Dynamics
3.6.1 Market Driver Analysis
3.6.1.1 Increasing demand from the food packaging industry
3.6.1.2 Rising use of thermoformed plastics in the medical industry
3.6.2 Market Restraint Analysis
3.6.2.1 Volatile raw material prices
3.7 Business Environment Analysis: North America Thermoformed Plastics Market
3.7.1 Porter’s Five Forces Analysis
3.7.2 PESTEL Analysis
3.8 Major Deals & Strategic Alliances Analysis
3.8.1 Mergers and acquisitions
Chapter 4 North America Thermoformed Plastics Market: Product Estimates & Trend Analysis
4.1 North America Thermoformed Plastics Market: Product Movement Analysis, 2021 & 2030
4.2 Polymethyl Methacrylate (PMMA)
4.2.1 North America Thermoformed Plastics Market estimates and forecasts, by Polymethyl Methacrylate (PMMA), 2017 - 2030 (Kilotons) (USD Million)
4.3 Bio-degradable polymers
4.3.1 North America Thermoformed Plastics Market estimates and forecasts, by Bio-degradable polymers, 2017 - 2030 (Kilotons) (USD Million)
4.4 Polyethylene (PE)
4.4.1 North America Thermoformed Plastics Market estimates and forecasts, by Polyethylene (PE), 2017 - 2030 (Kilotons) (USD Million)
4.5 Acrylonitrile Butadiene Styrene (ABS)
4.5.1 North America Thermoformed Plastics Market estimates and forecasts, by Acrylonitrile Butadiene Styrene (ABS), 2017 - 2030 (Kilotons) (USD Million)
4.6 Polyvinyl Chloride (PVC)
4.6.1 North America Thermoformed Plastics Market estimates and forecasts, by PolyVinyl Chloride (PVC), 2017 - 2030 (Kilotons) (USD Million)
4.7 High Impact Polystyrene (HIPS)
4.7.1 North America Thermoformed Plastics Market estimates and forecasts, by High Impact Polystyrene (HIPS), 2017 - 2030 (Kilotons) (USD Million)
4.8 Polystyrene (PS)
4.8.1 North America Thermoformed Plastics Market estimates and forecasts, by Polystyrene (PS), 2017 - 2030 (Kilotons) (USD Million)
4.9 Polypropylene (PP)
4.9.1 North America Thermoformed Plastics Market Estimates and forecasts, by Polypropylene (PP), 2017 - 2030 (Kilotons) (USD Million)
Chapter 5 North America Thermoformed Plastics Market: Process Estimates & Trend Analysis
5.1 North America Thermoformed Plastics Market: Process Movement Analysis, 2021 & 2030
5.2 Plug-assist thermoforming
5.2.1 North America Thermoformed Plastics Market estimates and forecasts, by Plug-Assist thermoforming, 2017 - 2030 (Kilotons) (USD Million)
5.3 Thick-gauge thermoforming
5.3.1 North America Thermoformed Plastics Market estimates and forecasts, by Thick-gauge thermoforming, 2017 - 2030 (Kilotons) (USD Million)
5.4 Thin-gauge thermoforming
5.4.1 North America Thermoformed Plastics Market estimates and forecasts, by Thin-gauge thermoforming, 2017 - 2030 (Kilotons) (USD Million)
5.5 Vacuum snapback
5.5.1 North America Thermoformed Plastics Market estimates and forecasts, by Vacuum snapback, 2017 - 2030 (Kilotons) (USD Million)
Chapter 6 North America Thermoformed Plastics Market: Application Estimates & Trend Analysis
6.1 North America thermoformed plastics market: Application movement analysis, 2021 & 2030
6.2 Healthcare & Medical
6.2.1 North America Thermoformed Plastics Market estimates and forecasts, by healthcare & medical, 2017 - 2030 (Kilotons) (USD Million)
6.3 Food packaging
6.3.1 North America Thermoformed Plastics Market estimates and forecasts, by Food packaging, 2017 - 2030 (Kilotons) (USD Million)
6.4 Electrical & electronics
6.4.1 North America Thermoformed Plastics Market estimates and forecasts, by Electrical & electronics, 2017 - 2030 (Kilotons) (USD Million)
6.5 Automotive
6.5.1 North America Thermoformed Plastics Market estimates and forecasts, by Automotive, 2017 - 2030 (Kilotons) (USD Million)
6.6 Construction
6.6.1 North America Thermoformed Plastics Market estimates and forecasts, by Construction, 2017 - 2030 (Kilotons) (USD Million)
6.7 Consumer goods & appliances
6.7.1 North America Thermoformed Plastics Market estimates and forecasts, by Consumer goods & appliance, 2017 - 2030 (Kilotons) (USD Million)
6.8 Others
6.8.1 North America Thermoformed Plastics Market estimates and forecasts, by others, 2017 - 2030 (Kilotons) (USD Million)
Chapter 7 North America Thermoformed Plastics Market: Country Estimates & Trend Analysis
7.1 North America Thermoformed Plastics Market: Country Movement Analysis, 2021 & 2030
7.2 U.S.
7.2.1 U.S. Thermoformed Plastics Market Estimates And Forecasts, 2017 - 2030 (Kilotons) (USD Million)
7.2.2 U.S. Thermoformed Plastics Market Estimates And Forecasts, by Product, 2017 - 2030 (Kilotons) (USD Million)
7.2.3 U.S. Thermoformed Plastics Market Estimates And Forecasts, by Process, 2017 - 2030 (Kilotons) (USD Million)
7.2.4 U.S. Thermoformed Plastics Market Estimates And Forecasts, by Application, 2017 - 2030 (Kilotons) (USD Million)
7.3 Canada
7.3.1 Canada Thermoformed Plastics Market Estimates And Forecasts, 2017 - 2030 (Kilotons) (USD Million)
7.3.2 Canada Thermoformed Plastics Market Estimates And Forecasts, by Product, 2017 - 2030 (Kilotons) (USD Million)
7.3.3 Canada Thermoformed Plastics Market Estimates And Forecasts, by Process, 2017 - 2030 (Kilotons) (USD Million)
7.3.4 Canada Thermoformed Plastics Market Estimates And Forecasts, by Application, 2017 - 2030 (Kilotons) (USD Million)
7.4 Mexico
7.4.1 Mexico Thermoformed Plastics Market Estimates And Forecasts, 2017 - 2030 (Kilotons) (USD Million)
7.4.2 Mexico Thermoformed Plastics Market Estimates And Forecasts, by Product, 2017 - 2030 (Kilotons) (USD Million)
7.4.3 Mexico Thermoformed Plastics Market Estimates And Forecasts, by Process, 2017 - 2030 (Kilotons) (USD Million)
7.4.4 Mexico Thermoformed Plastics Market Estimates And Forecasts, by Application, 2017 - 2030 (Kilotons) (USD Million)
Chapter 8 Competitive Analysis
8.1 Key players & recent developments & their impact on the industry
8.2 Key company/competition categorization
8.3 Vendor Landscape
8.3.1 List Of Key Distributors & Channel Partners
8.3.2 Key Potential Customers
8.4 Public Companies
8.4.1 Competitive dashboard analysis
8.5 Private Companies
8.5.1 List of key emerging companies/technology disruptors/innovators and their geographical presence
Chapter 9 Competitive Landscape
9.1 Pactiv LLC
9.1.1 Company overview
9.1.2 Product Benchmarking
9.1.3 Financial performance
9.1.4 Strategic Initiatives
9.2 Sonoco Products Company
9.3 CM Packaging
9.4 Placon
9.5 Genpak, LLC
9.6 Anchor Packaging LLC
9.7 Brentwood Industries, Inc.
9.8 Greiner Packaging
9.9 Dongguan Ditai Plastic Products Co., Ltd.
9.10 Palram Industries Ltd.
Cross-segment Market Size and Analysis for
Mentioned Segments
Additional Company Profiles (Upto 5 With No Cost)
Additional Countries (Apart From Mentioned Countries)
Country/Region-specific Report
Go To Market Strategy
Region Specific Market DynamicsRegion Level Market Share Import Export AnalysisProduction AnalysisOthers