The market share of thermoformed plastic products will continue to expand

[ Jiuzhi Plastics News] The latest research report on thermoformed plastics shows that thermoforming plastics are competing with other plastics processing such as injection molding in several key applications related to the world. A research company in the United States also said that with the continuous development of science and technology, the use of thermoformed plastic products will gradually increase.
Thermoformed plastics are used in many important applications, such as hard and medical packaging, automotive, construction, electrical, and consumer products. These plastics compete in injection molding, blow molded products, and other non-plastic materials (glass, paper, and metal).
The global market for thermoformed plastics is expected to grow from 8.3 billion pounds in 2016 to 10.2 billion pounds in 2021, a compound annual growth rate of 4.3% over the five-year period. Growth will come mainly from catering service applications and packaging products such as baked goods, frozen products, fresh produce, meat, dairy products and other foods. Among them, the application on the blister packaging of drugs has also increased certain market value, and there are also some terminal applications including cosmetics, hardware, sporting goods, electronic products, consumer goods and so on.
According to the report, demand in the automotive industry is also growing. Due to the demand for lightweight and energy-saving, thermoformed plastics can be used in automotive instrument panels, interior plastics, as well as windshields and windows.
The growth of thermoformed plastics applications, especially in the food sector, is a key market. These plastics effectively replace the packaging of glass, metal and paper, as well as other injection molded and blow molded articles.

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