United States Heavy & Thin Gauge Thermoformed Plastics Market 2019-2024 - Food Packaging Applications to Propel Market Demand - ResearchAndMarkets.com
DUBLIN--(BUSINESS WIRE)--Apr 2, 2019--The “United States Heavy Gauge and Thin Gauge Thermoformed Plastics Market (2019 - 2024)” report has been added to ResearchAndMarkets.com’s offering.
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.
1.1 Scope of the Report
1.2 Study Deliverables
1.3 Research Phases
2. Executive Summary
3. Market Insights
3.1 Industry Value Chain Analysis
3.2 Industry Attractiveness - Porter’s Five Forces Analysis
3.3 Price Trends
3.4 Plastics Industry Manufacturing Cost Structure
4. Market Dynamics
4.1.1 Increasing Demand for Fuel-efficient & Lightweight Vehicles
4.1.2 Accelerating Usage in the Pharmaceutical & Medical Sector
4.1.3 Demand from the Food Packaging Industry
4.2.1 Volatility in Price and Availability of Raw Materials
4.2.2 Environmental Problems Related to Plastic Waste
4.3.1 Increasing Application in the Aerospace Sector
4.3.2 Innovative Product Applications
5. Market Segmentation and Analysis (Market Size, Growth and Forecast)
5.1 By Application
5.1.1 Heavy Gauge
188.8.131.52 Automotive and Transportation Parts
184.108.40.206 Kiosks/Displays/Modular Vending
220.127.116.11 Consumer Goods
18.104.22.168 Electrical and Electronics
22.214.171.124 Industrial and Machinery
126.96.36.199 Medical Equipment and Devices
188.8.131.52 Health and Fitness/Recreation Equipment
184.108.40.206 Storage Bins, Containers and Totes
220.127.116.11 Other Heavy Gauge Applications
5.1.2 Thin Gauge
18.104.22.168 Medical Packaging
22.214.171.124 Food Packaging
126.96.36.199 Retail Packaging
188.8.131.52 Other Thin Gauge Applications
6. Policies and Regulations
For more information about this report visit https://www.researchandmarkets.com/research/xqqppl/united_states?w=4
View source version on businesswire.com:https://www.businesswire.com/news/home/20190402005897/en/
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KEYWORD: UNITED STATES NORTH AMERICA
INDUSTRY KEYWORD: MANUFACTURING CHEMICALS/PLASTICS
SOURCE: Research and Markets
Copyright Business Wire 2019.
PUB: 04/02/2019 12:30 PM/DISC: 04/02/2019 12:31 PM