The Future of Packaging: Key Trends in the Growing Thermoformed Plastic Market
The global thermoformed plastic market size is expected to reach USD 20.66 billion by 2030, registering a CAGR of 4.9% from 2023 to 2030, according to a new report by Grand View Research, Inc. Globally, the increasing demand for medical and pharmaceutical products has been an important factor behind the market growth. Also, technological innovations in the manufacturing processes of these plastics are anticipated to advance the market. The increasing demand for these plastics in various application areas including food packaging, healthcare and medical, electrical and electronics, automotive, construction, and consumer goods & home appliances is expected to propel the market in the coming years. Rapid industrialization, infrastructural developments, and medical activities are expected to boost market growth from 2023 to 2030. Thermoforming is a procedure in which a plastic sheet is heated to make it flexible and then shaped and formed into the desired shape...