Yes, according to Future Market Insights (FMI), the thin-walled plastic containers market is estimated to be valued at US$32.2 billion in 2021. Over the period from 2021 to 2031, the global sales of thin wall plastic containers are expected to grow at a compound annual growth rate (CAGR) of 5.6%.
North America dominates the thin-walled plastic containers market due to the increasing demand for plastic containers in the food and beverage industry. Throughout the anticipated period, the North American market is projected to experience a CAGR of approximately 4.1%.
The growing need for thin wall containers aligns with the global shift towards environmentally friendly packaging options. Future Market Insights (FMI) predicts that the thin wall plastic container market will expand by 5.3% annually in 2021. The demand for thin-walled plastic containers is driven by their lightweight nature, durability, and the advantages they offer in terms of reduced material consumption and improved recyclability.
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In 2021, the sales of thin-walled plastic containers are expected to increase to 307,885 million units globally, according to FMI’s study.
Overall, the market for thin-walled plastic containers is experiencing growth due to factors such as the rising demand in the food and beverage industry, increasing focus on environmentally friendly packaging, and the unique properties of thin wall containers.
Application in a Variety of Industries Is Boosting Sales of Thin Wall Plastic Containers
The demand for innovative and sustainable packaging is increasing along with the fast-growing consumer goods and food industries. Lightweight packaging is urgently needed, and demand for it is rising across many industries. Thin wall plastic container producers have been forced to expand their production capabilities and build new facilities in order to meet the demands of catering and retail businesses.
In the long run, the expansion of retail and supplier channels is also anticipated to be positive for market growth. Consumer preference for lightweight packaging is additionally anticipated to broaden the market’s reach across various industries and sectors.
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Lightweight Packaging to Push Market Revenue Growth
Companies across the globe in different sectors are trying to cut costs and eliminate processes that diminish their bottom line. In comparison to other forms of packaging such as glass or can, a less amount of raw material is used while manufacturing thin wall plastic containers. This helps companies cut down their raw material costs.
In addition to this, thin wall plastic containers can be manufactured in a shorter cycle time which translates to higher productivity and comparatively lower cost per produced part. Furthermore, thin wall plastic containers are used in a variety of applications including medical disposables, electronic hosing and protection among others, which provide a lot of potential for cost savings for manufacturers, suppliers, and retailers in multiple fields.
Some of the leading companies operating in the market are:
- Dahl-Tech, Inc (U.S.)
- Us Pack Group (U.S.)
- Dash Packaging Inc (U.S.)
- Canyon Plastics Inc (U.S.)
- MJS Packaging (U.S.)
- Berry Global Inc.(U.S.)
- Graham Packaging Company (U.S.)
- Alpack Plastics (U.S.)
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Thin Wall Plastic Containers Market: Segmentation
Product Type:
- Boxes & Bins
- Trays
- Cups
- Lids
- Thin Wall Pails
- Bowls
Material Type:
- Polypropylene (PP)
- Polystyrene (PS)
- Polyethylene (PE)
- High-density Polyethylene (HDPE)
- Low-density Polyethylene (LDPE)
- Polyethylene Terephthalate (PET)
Manufacturing Technology:
- Thermoformed
- Vacuum Technology
- Injection Molded Technology
- Others
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