NEWARK, Del, Aug. 25, 2022 (GLOBE NEWSWIRE) -- As per Future Market Insights (FMI), the global thermoforming machines market size is likely to reach US$ 1,463.9 Mn by 2032 and expand at a CAGR of 4.3% from 2022 to 2032. Automated thermoforming machines are capable of packing products into rigid or flexible packaging. They are extensively used for performing the molding and sealing process of containers.
These machines use heat and vacuum to form a 3D shape of the packaging material. Modern thermoforming machines process plastics through software programs, control systems, heating elements, mold sections, and cooling & loading systems.
Low power requirement, optimum material utilization, reduced maintenance costs, and high productivity would favor the demand for automated thermoforming machines. Besides, increasing investments by key players in research and development activities to upgrade their product portfolios and offer automated machines would aid growth.
The food and pharmaceutical industries are likely to boost the market for thermoforming machines as they are extensively used across these industries. To pack goods within a minimal time limit and enhance a product’s shelf life, automatic thermoforming machines are used in the above-mentioned industries.
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Key Takeaways from Thermoforming Machines Market
- By operating type, the automatic segment is estimated to account for 48.3% of the global thermoforming machines market share by the end of 2022.
- Based on application, the food segment is expected to hold about 37% of the global thermoforming machines market share in 2022.
- The U.S. is anticipated to hold about 18% of the market share by the end of 2022.
- India is expected to offer an incremental opportunity worth US$ 45.9 Mn during the forecast period.
- The global thermoforming machines market has grown steadily over the past few years and exhibited a CAGR of 3.2% during the historical period of 2015-2021.
“Rising demand for packaged fruit juices, carbonated drinks, milk, and mineral water across the globe is likely to drive the market. In addition, surging use of advanced thermoforming machines to pack cosmetics and personal care products would aid growth,” says a FMI analyst.
Use of Automated Thermoforming Machines across the Food Processing Industry to Augment Sales
From production and packaging to retail, the food sector houses a large number of companies. Automation of the packaging process affects almost every aspect of food processing. Food processing companies are actively taking advantage of innovative machinery and equipment to address the issue of time constraints that occur due to manual operations.
Automated food processing and packaging machines not only minimize or change the final output fluctuations but also lower waste generation. Several food processors are consistently introducing new thermoforming machines in their packaging lines and upgrading their existing offerings to drive sales.
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Extensive Use of Thermoforming Machines in the Pharmaceutical Industry to Create Growth Opportunities
Increased awareness regarding health and hygiene have resulted in the high demand for pharmaceutical products such as disinfectants packed in thermoformed packaging. Leading pharmaceutical companies have started offering gels, lotions, and creams in this type of packaging to keep up with surging demand from modern-day consumer bases. The pharmaceutical industry is expected to witness significant growth over the next decade, which will have a direct positive impact on the sales of thermoforming machines used in the production of medicines.
Competitive Landscape: Thermoforming Machines Market
Key players operating in the thermoforming machines market are UltraSource LLC, Thermoforming Inc., Colimatic USA, Hualian Machinery, Lumar Idéal, FL TÈCNICS ÍNDEX, S.L., Utien Pack Co, Ltd., SIA SCANDIVAC, and MAAC Machinery Co., Inc., Mespack, Zhucheng Yide Machinery Co., Ltd., GN Thermoforming, WM Thermoforming Machines, SencorpWhite, Inc., Ridat Company, LX PLASTIC MACHINERY LIMITED, and Gabler Thermoform GmbH & Co. Kg.
Get More Insights on Thermoforming Machines Market
Future market insights, in its new report, offers an unbiased analysis of the global thermoforming machines market, analyzing historical demand from 2015-2021 and forecast statistics for 2022-2032. The study reveals market growth projections on thermoforming machines based on the operating type (manual, semi-automatic, and automatic), orientation (horizontal and vertical), and application (food, pharmaceutical, cosmetics & personal care, electrical & electronics, and others (chemicals, etc.)) across seven regions.
Table of Content
1. Executive Summary
1.1. Global Market Outlook
1.2. Demand-side Trends
1.3. Supply-side Trends
1.4. Technology Roadmap Analysis
1.5. Analysis and Recommendations
2. Market Overview
2.1. Market Coverage / Taxonomy
2.2. Market Definition / Scope / Limitations
3. Market Background
3.1. Market Dynamics
3.1.1. Drivers
3.1.2. Restraints
3.1.3. Opportunity
3.1.4. Trends
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The packaging division at Future Market Insights provides an in-depth historical analysis and projections for the next ten years and covers the competitive landscape through a unique dashboard view. Ranging from packaging materials, packaging machinery to packaging designs & formats, Future Market Insights has an exhaustive database for these industry verticals, serving clients with unique research offerings and strategic recommendations. With a repository of 1,000+ reports, the team has analyzed the packaging industry comprehensively in 50+ countries. The team evaluates every node of the value chain and provides end-to-end research and consulting services; reach out to explore how we can help.
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