The global
thermoformed plastics market is expected to grow at a CAGR of 4.08%
during the forecast period. Some of the major factors hindering the growth of the
market include stringent regulations and policies, the threat of substitutes,
and volatility in raw materials.
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Plastic molding is a technique to produce plastic products of various
sizes and shapes. Except thermoforming, alternative techniques used to produce
plastic parts for packaging, consumer goods, and electronics can negatively
affect the growth of the thermoformed plastics market. Injection molding and
rational molding are some of the common technologies used to produce plastic
parts. Injection molded plastics are formed by the injection of molten polymers
into molds.
In February 2017, the United Nations launched United Nations Environment Programme (UNEP) to reduce the use of microplastics. The
program was intended to conserve marine wildlife and fisheries. The increasing
use of bioplastics in many applications, including packaging and consumer goods
can adversely affect the demand for thermoformed plastics. However, despite the
challenges, the global thermoformed plastics market is expected to witness
growth in accelerating momentum.
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