Thermoforming Machines Market size is likely to reach US$ 1,463.9 Mn by 2033 and expand at a CAGR of 4.3% from 2023 to 2033. 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.
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.
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.
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Key Players:
- UltraSource LLC
- Rollstock Inc.
- Climatic USA
- Shandong Xiaokang Machinery Co. Ltd
- Hualian Machinery
- Lumar Idéal II Inc.
- FL TÈCNICS ÍNDEX, S.L.
- Utien Pack Co Ltd.
- SIA SCANDIVAC
- Mespack
- MAAC Machinery Co. Inc.
- Zhucheng Yide Machinery Co. Ltd.
- GN Thermoforming Equipment
- WM Thermoforming Machines SA
- SencorpWhite Inc.
Segmentation:
By Operating Type:
- Manual
- Semi-automatic
- Automatic
By Orientation:
- Horizontal
- Vertical
By Application:
- Food
- Pharmaceutical
- Cosmetics & Personal Care
- Electrical & Electronics
- Others (Chemicals, etc.)
By Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia
- Oceania
- Middle East & Africa (MEA)
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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.
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.
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Competitive Landscape
Key players operating in the thermoforming machines market are focusing on expanding their production capacities and resources through mergers and acquisitions to meet the growing demand for advanced machines. Also, they aim to expand their capabilities by establishing or broadening their manufacturing facilities.
Some of the latest industry developments are:
- In December 2021, Paxiom Group announced opening a 50,000 sq. foot facility in Las Vegas as part of the company’s expansion plans.
- In March 2021, GN Thermoforming announced that Brown Machine Group (BMG) acquired 100% of its shares. BMG’s thermoformed products would provide better access to global customers in the food packaging industry.
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.
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Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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