Thermoforming: Packaging leading the way, thermoforming looks to top 6 billion lb

Growing at a compound annual rate of 4.3%, the global market for thermoformed plastic will expand from 4.9 billion lb last year, to 5.1 billion lb in 2008, and some 6.3 billion lb in 2013. The data, culled from a new BCC Research (Wellesley, MA) report, broke the thermoforming markets into packaging, appliances, building/construction, automotive, aircraft, industrial/commercial, and consumer products, with packaging occupying the largest share, consuming 3.4 billion lb of materials in 2007. In 2008, packaging is estimated to use 3.6 billion lb, and grow 4.6% annually to 4.5 billion lb in 2013.

Appliances ranked second, using 558 million lb of materials in 2007, with that figure expected to reach 584 million lb in 2008 and 682 million lb by 2013, for a compound annual growth rate (CAGR) of 3.2%. Building and construction ranks third, using 286 million lb in 2007, with 2008 estimated at 295 million lb, and CAGR growth of 3.6% to reach 352 million lb in 2013.

Fellow research firm, The Freedonia Group, described the U.S. thermoformed plastics industry as a $5.2 billion market, with six private firms accounting for a 27% share of the packaging segment, and eight private companies holding 27% of nonpackaging demand.