United States Heavy Gauge and Thin Gauge Thermoformed Plastics Market (2019 - 2024)

United States Heavy Gauge and Thin Gauge Thermoformed Plastics Market (2019 - 2024)

  • March 2019 •
  • 69 pages •
  • Report ID: 5778187 •
  • Format: PDF
United States Heavy Gauge and Thin Gauge Thermoformed Plastics Market- Growth, Trends, and Forecast (2019 - 2024)

The market is segmented by Application (Heavy Gauge (Automotive and Transportation Parts, Kiosks/Displays/Modular Vending, Consumer Goods, Electrical and Electronics, Industrial and Machinery, Food Packaging, Medical Equipment and Devices, Health and Fitness/Recreation Equipment, Storage Bins, Containers, and Totes, and Other Heavy Gauge Applications), and Thin Gauge (Medical Packaging, Food Packaging, Retail Packaging, and Other Thin Gauge Applications))

Market Overview
The United States heavy gauge and thin gauge thermoformed plastics market is expected to grow at a CAGR of 6.76% during the forecast period of 2019 – 2024. Major factors driving the market studied are increasing demand for fuel-efficient and lightweight vehicles and accelerating usage in the pharmaceutical and medical sector. Environmental problems related to plastic waste is expected to hinder the growth of the market studied.

• Automotive industry dominated the market in 2017 and is expected to continue its dominance during the forecast period.
• Increasing demand for bio-based thermoplastic elastomers is likely to act as an opportunity in the future.
• Germany dominated the market across the Europe with the largest consumption from the automotive industry.

Key Market Trends
Food Packaging Applications to Propel the Market Demand

• Thin gauge thermoformed plastics are also used in food industry for meeting their packaging requirements. As the United States stands to be one of the largest market for processed and packaged food, the market for thin gauge thermoformed plastics market is widely driven by growth of food packaging industry.
• Food packaging dominates the overall market for thermoformed plastics in the United States, and is expected to do so through to the forecast period.
• As the market for packaged ad processed food has been growing in the United States, with various factors, such as growing population, increasing purchasing power, growing market for frozen food, and hectic life of the people, the market for packaging from food industry is also growing simultaneously in the country.
• There have been studies that indicated cucumbers when wrapped in plastic can last 11 days longer than unwrapped cucumbers.
• Similarly, bananas wrapped in plastic last 21 days longer than their unwrapped counterparts, and beef wrapped in vacuum plastic packaging with an oxygen barrier film lasts 26 days longer. Thus, such factors have lead to increased usage of packaging in the food industry, which is further driving the growth of food packaging industry.
• Therefore, with increasing demand for food packaging (due to such factors) the demand for thin gauge thermoformed plastics market is also witnessing a growth simultaneously.
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