- The U.S market for thermoformed plastics will increase from 4.9 billion pounds in 2007 to an estimated 5.1 billion pounds in 2008 and 6.3 billion pounds in 2013, for a compound annual growth rate (CAGR) of 4.3%.
- Packaging applications are expected to use 3.6 billion pounds of thermoformed plastic in 2008 and 4.5 billion in 2013, for a CAGR of 4.6%.
- Applications in appliances are expected to use 584 million pounds of thermoformed plastic in 2008, increasing to 682 million pounds in 2013, for a CAGR of 3.2%.
REASON FOR DOING THE STUDY
The objective of this study is to provide a comprehensive analysis for those who are interested and/or involved in the plastic thermoformed businesses that include resin producers, plastic sheet producers, thermoformers and those in the major industries using these products. There has, over the last decade, been somewhat of a surge in use of thermoformed plastic products due to improved technologies and, therefore, thermoformed plastics are competing favorably with injection molding in several key applications.
In addition, there have been very few previous studies that have quantitatively segmented the thermoformed portion of the plastic sheet business since plastic sheet is the precursor to plastic thermoformed products, while plastic sheet is also used extensively without being heated and stretched to plastic thermoformed products.
SCOPE OF STUDY
The focus of the study is to quantify consumption of the major types of plastics used as thermoformed materials into each of its major applications. Thermoformed plastics are involved in several important applications such as rigid food and healthcare packaging, automotive, building products, appliances, and a wide array of consumer and industrial/commercial products.
METHODOLOGY AND INFORMATION SOURCES
Extensive searches were made of the literature about thermoformed plastics, including most of the leading trade journals, technical papers, company literature, related government publications and pertinent trade associations.
In addition, interviews were conducted with resin producers, plastic sheet manufacturers, key thermoformers and trade publication personnel to try and verify consumption, company products, key applications, market trends, etc.
ABOUT THE AUTHOR
Research analyst Mel Schlechter has over 40 years in the chemical industry, and specializes in plastics market research. He has been with BCC Research for over 10 years and holds a B.S. in chemistry, M.S. in organic chemistry and a M.B.A. in marketing.