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Thermoformable Film Market Report 2020 Global Industry Statistics & Regional Outlook to 2027 | Vecom, Vishakha Polyfab Pvt. Ltd., Klokner Pentaplast, DuPont, Soretrac (UK) Limited

Thermoformable Film

iCrowdNewswire   Jan 7, 2021  6:52 PM ET

Thermoformable Film Market

The global market of thermoformable films is gaining traction and is presumed to garner a substantial revenue by 2027. Extensively used as a packaging material of distinct food items, especially meat products such as pork, beef, lamb, and others, a thermoformable film is crucial to various industrial applications. It possesses exceptional forming properties including less thermal memory, thicker corners, puncture & shrink resistance, and eco-friendly.

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Market Drivers
Surging demand from the industries such as packaging and food is impacting the manufacturers in expanding their resources to provide better packaging solutions to their customers. With the use of thermoformable films in distinct packaging, the manufacturers are able to fill the gap of economical packaging, on the basis of different application types such as rigid and flexible packaging. This factor is crucial for the robust growth of the market. Without compromising with the barrier properties, products wrapped in thermoformable films, have a bigger ratio for product visibility as well as product quantity. This benefit is also stimulating demand in the market. Furthermore, due to thermoformable film’s puncture resistance property, different companies are utilizing their products to manufacture several sharp products along with the increasing application areas of the thermoformable films. These films are also well suited in microwave cooking, thus augmenting further demand for the market.

Thermoformable film Market: Key Participants
• Vecom
• Vishakha Polyfab Pvt. Ltd.
• Klokner Pentaplast
• DuPont
• Soretrac (UK) Limited
• Hypac Packaging
• Synpac
• Greenpak
• RapidMade
• Flair Flexible Packaging Corporation
• Clifton Packaging Group
• Astar Packaging

Regional Outlook
Asia Pacific is dominating the industry, owing to becoming the key producer in the industry of thermoformable films. The increasing use of PE and PVC in industries like food and packaging and rising environmental concerns are the two major factors fueling the market growth in this region. Other regions like Europe and Latin America are also exhibiting a substantial growth due to fast urbanization and increasing consumer productivity. North America is witnessing a steady rise in the market because of the stable growth of personal care and cosmetic industries.

By Material Type (Revenue, USD Million; Volume in Kilotons, 2017–2027)
• Polyvinyl Chloride (PVC)
• Polyamide (PA)
• Polyethylene (PE)
• Acrylonitrile Butadiene Styrene (ABS)
• Ethylene Vinyl Alcohol (EVOH)

By Application Type (Revenue, USD Million; Volume in Kilotons, 2017–2027)
• Rigid Thermoforming Films
• Flexible Thermoforming Films

By End-User Type (Revenue, USD Million; Volume in Kilotons, 2017–2027)
• Food
• Packaging
• Chemical
• Pharmaceutical
• Electronics
• Consumer goods
• Cosmetics
• Personal Care

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The report emphasizes the following key questions
• Q.1. What are the most lucrative and promising growth prospects for the market?
• Q.2. Which sectors are expected to deliver a high growth rate and which industry aspects come into play in this advancement?
• Q.3. Which geographies are estimated to exhibit the highest growth and the underlying causes?
• Q.4. Which factors are impacting the future of the market and what are the driving factors?
• Q.5. What are the hurdles and challenges curtailing the industry’s growth in the forecast period?

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