Thermoforming machines Market

Thermoforming is the process of heating a sheet of plastic to its softening temperature so that the heated plastic sheet may be stretched and shaped into a desired mold or shape. The plastic sheet or film is then held in place to cool and solidify so that it can acquire the shape required. A thermoforming machine is the equipment used for the thermoforming process. The thermoplastic sheet is first clamped onto a holding device and heated. After the heated plastic softens, it is either pressed into or stretched over a mold. Vacuum pressure, air pressure, or mechanical force may be used for the forming process. The plastic sheet is then held in place as it cools and takes the shape of the mold permanently. The excess material is finally trimmed away. Thermoforming machines are widely used in various different industries including the global packaging, pharmaceutical, food & beverage, industries.

COVID-19 scenario analysis:

• COVID-19 pandemic has shut-down production of various products in the global thermoforming machines industry, mainly owing to prolonged lockdown in major global countries. This has hampered growth of the global thermoforming machines market significantly from past few months, as is likely to continue during 2020.
• COVID-19 has already affected sales of equipment and machinery in the first quarter of 2020, and is likely to cause a negative impact on the market growth throughout the year.
• The major demand for equipment and machinery was previously noticed from giant manufacturing countries including the U.S., Germany, Italy, the UK, and China, which is badly affected by the spread of coronavirus, thereby halting demand for equipment and machinery.
• Further, potential impact of the lockdown is currently vague and financial recovery of companies is totally based on its cash reserves. Equipment and machinery companies can afford a full lockdown only for a few months, after which the players would have to modify their investment plans.
• Equipment and machinery manufacturers must focus on protecting their workforce, operations, and supply chains to respond toward immediate crises and find new ways of working after COVID-19 infection cases start to decrease.

Top impacting factors: Market Scenario Analysis, Trends, Drivers, Opportunities, Restraints and Impact Analysis

The global thermoforming machine market is majorly driven by the global packaging industry. The global pharmaceutical industry are also major end users of thermoforming machines as proper packaging of drugs is important for preserving their life. Thermoforming machines are also used extensively in the food and beverage industry. Growing importance of food hygiene and safe packaging are major factors driving the efforts of food & beverage companies toward constantly improving their food packaging. Apart from these, thermoforming is widely applied in manufacturing automotive parts, trays, agricultural machinery parts, pallets, building products and signs among other products. Thermoforming reduces the weight of products as the process can be used to produce composite plastic sheets which have comparable strength to thick sheets of plastic. The growth of e-commerce platforms and online aggregators and delivery applications have increased the consumption of retail goods that require thermoform packaging. Food retail has especially grown due to the increased consumption through online delivery services such as BigBasket, Grofers, Zomato and other such start-ups. However, thermoforming machines use large volume of plastic and this is a major restraining factor due to environmental concerns rising from overuse of plastics. On the other hand, the growth opportunities for the global thermoforming machines market come from the importance of packaging to FMCG and retail companies as a branding and product differentiation tool. The packaging used by a company for their product is important to the branding and presentation of products in the marketplace and many companies have packaging trademarks for their distinctive packaging.

The global thermoforming machines trends are as follows:

Growth of world population, urbanisation and rising income

Rapid urbanization, growth in population and rise in disposable income of the average consumer has significantly bolstered the growth of the global packaging and plastics industries due to increases application in the global retail, textile, food & beverage, personal care products, pharmaceutical products and other packaging and plastic end users. Due to the aforementioned factors of growing population, urbanisation and increased standard of living of consumers around the world, the global consumer goods market has expanded to products that exhibit high quality packaging in keeping with competitive aesthetic standards and quality. This in turn is aiding the growth of the global thermoforming machines market. With growing population and increasing disposable income, the volume of production of pharmaceuticals, food & beverage and consumer goods has to be increased to meet the demand. The increased application of thermoforming machines in drug manufacturing industry, retail industry, transportation & logistics, and other end users is anticipated to drive the demand the market growth of the global thermoforming machines market in the near future.

Growth of e-commerce platforms

Emergence of e-commerce portals which offer added advantages such as convenience, discounts, and free delivery services is expected to increase the consumption of consumer products, chemicals and pharmaceuticals, subsequently driving the demand for packaging, plastics and by extension, the global thermoforming machines. Today, the marketplace is flooded with several e-commerce options for shoppers to choose from. Ordering from e-commerce platforms are growing due to ease and comfort of buying from the internet as opposed to going to brick and mortar stores that require time and energy. In addition to this the growing internet penetration, varied array of choices available to consumers from competitor platforms and rising disposable income of the average consumer are helping in the growth of the global thermoforming machine market. As more and more people use e-commerce to fulfill their shopping needs, the FMCG industry, pharmaceutical industry and other industries are facing a growing need to optimize and automate their operations to reduce time and labour costs. This is expected to help the global thermoforming machine market grow.

Key benefits of the report:

• This study presents the analytical depiction of the global thermoforming machines industry along with the current trends and future estimations to determine the imminent investment pockets.
• The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the global thermoforming machines market share.
• The current market is quantitatively analyzed to highlight the global thermoforming machines market growth scenario.
• Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
• The report provides a detailed global thermoforming machines market analysis based on competitive intensity and how the competition will take shape in coming years.

 Thermoforming machines Market Report Highlights