Global Thermocol Packaging Market – Industry Trends and Forecast to 2029

Global Thermocol Packaging Market, By Type (Thermocol Sheets, Thermocol Blocks, Others), Application (Glass Articles, Gift Articles, Electrical/ Electronic Components, Others), Industry (Agricultural Industry, Pharmaceutical Industry, Marine Industry, Construction Industry, Other Industries) – Industry Trends and Forecast to 2029  

Market Analysis and Size

As per the estimates of Indian Institute of Packaging (IIP), the consumption of packaging in India has surged by 200% in the last ten years, from 4.3 kilograms per person per year (pppa) to 8.6 kg pppa. The surge in packaging has also further created growth prospects for thermocol packaging to protect and store the product. Consequently, the thermocol packaging market is estimated to have an accelerated growth over the forecast period.

Global thermocol packaging market was valued at USD 15,100.00 million in 2021 and is expected to reach USD 23173.77 million by 2029, registering a CAGR of 5.50% during the forecast period of 2022-2029. In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, the market report curated by the Data Bridge Market Research team includes in-depth expert analysis, import/export analysis, pricing analysis, production consumption analysis, patent analysis and technological advancements.

Report Scope and Market Segmentation

Market Definition

Thermocol packaging is basically a packaging that is made out of thermocol. It aids in safeguarding and helps protect the product from any damage, leakage, dust, pollution, contamination. They are used across agricultural industry, pharmaceutical industry, marine industry, construction industry and other industries.

Thermocol Packaging Market Dynamics

This section deals with understanding the market drivers, advantages, opportunities, restraints and challenges. All of this is discussed in detail as below:

Drivers

• Growth of thermocol packaging

The growing demand of the thermocol packaging due to its lightweight and durability, easy availability of product in various sizes, increasing usages of the product as insulation tiles in homes, IT buildings, offices, showroom, and others, easiness in transportation are some of the factors which will likely to enhance the growth of the thermocol packaging market in the forecast period.

Furthermore, the availability of reliable and cost effective means to protect good from transit along with supports low thermal conductivity will further propel the growth rate of thermocol packaging market.

Opportunities

• Innovation and awareness

The various product innovations by the market players such as the development of biodegradable and compostable thermocol packaging variants extend profitable opportunities to the market players in the forecast period of 2022 to 2029. Additionally, rising awareness about the benefits of thermocol packaging will further expand the future growth of the thermocol packaging market.

Restraints/Challenges

• Harmful environmental impact

The harmful environmental effects temperature will create hindrances for the growth of the thermocol packaging market.

• Supply chain disruptions will pose a threat to the market

The rising number of restrictions around the globe due to pandemic, there has been a hit in the demand and supply of packaging solutions. Also, the fluctuations in the prices of raw materials will prove to be a demerit for the thermocol packaging market. Therefore, this will challenge the thermocol packaging market growth rate.

This thermocol packaging market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the thermocol packaging market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.

Recent Developments

• In September 2021, In an industrial recycling trial using EcoLam laminates, Constantia Flexibles achieved up to 80% recycled content in a PE film using waste from EcoLam laminates. Further investigation revealed that the quality of recyclable material is significantly influenced by the type of glue and printing inks utilised. If printed laminates may be reused in culinary applications with the right adhesives and inks, further research is being done in this area.
• In August 2021, Elif, a top provider of flexible packaging, will be purchased by Huhtamaki for EUR 421 million. With this acquisition, Hutamaki wants to further its environmental objectives while solidifying its position as the industry leader in flexible packaging in emerging regions and in the consumer goods sector.

Global Thermocol Packaging Market Scope

The thermocol packaging market is segmented on the basis of material type, form, thickness and end-user industry. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

Type

• Thermocol Sheets
• Thermocol Blocks
• Others

 Application

• Glass Articles
• Gift Articles
• Electrical/ Electronic Components
• Others

 Industry

• Agricultural Industry
• Pharmaceutical Industry
• Marine Industry
• Construction Industry
• Other Industries

Thermocol Packaging Market Regional Analysis/Insights

The thermocol packaging market is analyzed and market size insights and trends are provided by country, material type, form, thickness and end-user industry as referenced above.

The countries covered in the thermocol packaging market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.

North America dominates the thermocol packaging market in terms of market share and market revenue and will continue to flourish its dominance during the forecast period of 2022-2029. The market growth over this region is attributed to the increased advancements within the packaging sector within the region.

Asia-Pacific on the other hand, is estimated to show lucrative growth over the forecast period of 2022-2029, due to the favorable government policies as well as the growth in urbanization and increased use of thermocol within the region.

The country section of the report also provides individual market impacting factors and changes in market regulation that impact the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.   

Competitive Landscape and Thermocol Packaging Market Share Analysis

The thermocol packaging market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to thermocol packaging market.

Some of the major players operating in the thermocol packaging market are

• 3M (U.S)
• Anchor Packaging LLC, (U.S)
• Berry Global Inc., (U.S)
• CeDo Ltd., (U.K)
•  Dow., (U.S)
• Harwal Group of Companies
• (UAE), Intertape Polymer Group, (Canada)
•  Jindal Poly, (India)
• Klöckner Pentaplast, (Germany)
• Mitsubishi Chemical Corporation, (Japan)
• MOLCO GmbH, (Germany)
• Multi Wrap (Pty) Ltd. (South Africa)
• Nan Ya Plastics Corporation (China)