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Global Thermoformed Plastics Market 2019-2023 | Stringent Automobile Fuel Emission Standards to Boost Growth | Technavio

October 11, 2019
Global Thermoformed Plastics Market 2019-2023 | Stringent Automobile Fuel Emission Standards to Boost Growth | Technavio
Global Thermoformed Plastics Market 2019-2023 | Stringent Automobile Fuel Emission Standards to Boost Growth | Technavio

LONDON--(BUSINESS WIRE)--Oct 11, 2019--

The thermoformed plastics market size is expected to post a CAGR over 4% during the period 2019-2023, according to the latest market research report by Technavio. Request a free sample report

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Technavio has announced its latest market research report titled global thermoformed plastics market 2019-2023. (Graphic: Business Wire)

The diverse applications of thermoformed plastics are expected to boost the growth of the thermoformed plastics market. Multiple industries including medical, automotive, and construction, widely use thermoformed plastics. The medical industry uses these plastics to produce medical disposables and medical device components. Thermoformed plastics are also adopted in the automotive landscape to manufacture components including bumpers, air ducts, dashboard assembly, engine bay panels, and other products. Further, they are used in the construction industry to produce construction equipment closures, machinery covers, and tool cases.

To learn more about the global trends impacting the future of market research, download free sample: https://www.technavio.com/talk-to-us?report=IRTNTR31043

As per Technavio, the stringent automobile fuel emission standards will have a positive impact on the market and contribute to its growth significantly over the forecast period. This research report also analyzes other important trends and market drivers that will affect market growth over 2019-2023.

Thermoformed Plastics Market: Stringent Automobile Fuel Emission Standards

Several stringent regulations have been imposed on fuel emissions from regulatory bodies such as the EU and the EPA. Thermoformed plastics help reduce emissions and allow automobile manufacturers to comply with emission standards. Moreover, auto manufacturers are increasingly focusing on reducing vehicle weight, which is fueling the demand for thermoformed plastics. These plastics are lightweight and stable and are used as substitutes for metals and alloys in automobile components.

“Several global manufacturers of thermoplastics are relocating their manufacturing plants to developing countries such as China, India, Indonesia, Brazil, and South Africa. This is mainly because of factors including the easy availability of land, efficient supply of raw materials, inexpensive labor, and low transportation costs. Moreover, the growing population and high purchasing power in these countries are attracting heavy investment in the automotive industry. This, in turn, will propel the demand for thermoformed plastics during the forecast period,says a senior analyst at Technavio.

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Thermoformed Plastics Market: Segmentation Analysis

This market research report segments the thermoformed plastics market by application (food packaging, consumer products, medical, and others) and geographic regions (North America, Europe, APAC, South America, and MEA).

The North America region led the market in 2018, followed by Europe, APAC, South America, and MEA respectively. The market dominance of North America can be attributed to the increase in the demand for thermoformed plastics in the US, Canada, and Mexico, owing to the revival of end-user industries.

Technavio’s sample reports are free of charge and contain multiple sections of the report, such as the market size and forecast, drivers, challenges, trends, and more.

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Some of the key topics covered in the report include:

Market Landscape

Market Sizing

Five Forces Analysis

Market Segmentation

Geographical Segmentation

Market Drivers

Market Challenges

Market Trends

Vendor Landscape

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 10,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

If you are interested in more information, please contact our media team at media@technavio.com.

View source version on businesswire.com:https://www.businesswire.com/news/home/20191011005222/en/

CONTACT: Technavio Research

Jesse Maida

Media & Marketing Executive

US: +1 844 364 1100

UK: +44 203 893 3200

www.technavio.com

KEYWORD:

INDUSTRY KEYWORD: CHEMICALS/PLASTICS HEALTH AUTOMOTIVE MANUFACTURING MANUFACTURING AFTERMARKET AUTOMOTIVE OTHER CONSTRUCTION & PROPERTY CONSTRUCTION & PROPERTY OTHER AUTOMOTIVE MEDICAL SUPPLIES

SOURCE: Technavio Research

Copyright Business Wire 2019.

PUB: 10/11/2019 08:30 AM/DISC: 10/11/2019 08:31 AM

http://www.businesswire.com/news/home/20191011005222/en