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The global thermoformed plastics market size is expected to reach USD 59.74 billion by 2027, exhibiting a CAGR of 5.7% during the forecast period. The growing awareness about hygienic packaged food products is expected to foster healthy growth of the market, states Fortune Business Insights, in a report The market size stood at USD 40.59 billion in 2019.


Market Driver:

Significant Demand for Packaged Food to Enable Growth

The increasing demand for packaged food owing to the evolving habits of consumers will foster the healthy growth of the market. The increasing income and expenditure are factors expected to contribute positively to the market growth. The high-barrier properties, extended shelf-life, contamination prevention of thermoformed plastics make it suitable for food packaging, thus boosting the growth of the market. Moreover, the growing need for sturdy packaging in convenience foods products will spur demand for such plastics. The surging population has resulted in increasing food production to cater to the needs of consumers, in turn aiding the growth of the market. The increasing urbanization in rural areas will have a positive effect on the market. The infrastructural development and technological advancements in packaging techniques will bolster the significant growth of the market.

Disturbed Production of Plastics to Impede Business Amid Coronavirus

The declined plastic production and supply is expected to have a drastic impact on the global market. The closed manufacturing facilities due to lockdown imposed by governments will aggravate the business in the forthcoming years. The disruption caused by the pandemic has severely affected the supply chain of dairy products, medicines, sanitizers, food, disinfectants, face masks, and others. However, the improving situation will urge governments to lift lockdowns, in turn, stabilizing the manufacturing sector and promoting the market.

Regional Analysis:

Prospering Healthcare Sector to Aid Growth in North America

The market in North America is expected to experience a high growth rate during the forecast period owing to the rapid industrialization and technological advancements in the packaging industry. The growing demand for medicines and drugs in the healthcare sector will contribute excellently to the market. The evolving consumer lifestyle and disposable income will favor the healthy growth of the market in the region. Asia Pacific is expected to hold a considerable share during the forecast period owing to the growing polymer formulations in developing nations such as China and India. China is the largest supplier of plastics products. The rapid urbanization and improved living standard of people can have a tremendous effect on the market in the region. Moreover, the growing automotive and construction sector is likely to fuel demand for thermoformed plastics in the region.

Information Source:

https://www.fortunebusinessins....ights.com/thermoform

Acetone Market 2021 Global Industry Share, Global Research, Top Leading Players, Emerging Trends, Region by Forecast to 2028
The global acetone market is expected to gain momentum from the high demand for petrochemicals and chemicals from several end-use industries. This information is given by Fortune Business Insights™ in a new study, titled, “Acetone Market Size, Share & COVID-19 Impact Analysis, By Application (Solvent, Bisphenol A (BPA), Methyl Methacrylate (MMA), and Others), By End-use (Paints & Coatings, Plastic, Automotive, Adhesives, Pharmaceuticals, Cosmetics, Electrical & Electronics, and Others), and Regional Forecast, 2020-2027.” The study further mentions that the acetone market size was USD 3,962.0 million in 2019 and is projected to reach USD 4,995.3 million by 2027, exhibiting a CAGR of 3.7% during the forecast period.

COVID-19 Pandemic to Affect Growth Backed by Ongoing Crude Oil Price War

The COVID-19 pandemic has negatively affected the global chemical industry. It has disrupted supply chains and created uncertainty in the demand worldwide. Also, restrictions from governments on manufacturing activities may hinder growth. The ongoing crude oil price war is also set to hamper growth.


How Did We Create This Report?

We employ iterative and comprehensive research techniques focusing on minimizing deviance. We use a combination of top-down and bottom-up approaches for estimating and segmenting quantitative aspects of the parent’s market. At the same time, data triangulation is used to look at the market from three perspectives. Simulation models were used to gather data about the market forecasts and estimates.

Drivers & Restraints-

Increasing Manufacturing of Sanitizers and Disinfectants to Drive Growth

The increasing production of disinfectants and sanitizers worldwide is set to surge the demand for dimethyl ketone as isopropanol is derived from it. Besides, the high popularity of cosmetics and personal care products would aid the acetone market growth throughout the forthcoming years. However, acetone possesses higher initiation energy points and can’t auto-ignite. This may hamper its demand.

Segment-

Paints & Coatings Segment to Grow Steadily Fueled by Higher Usage of Solvents

Based on end-use, the plastic segment earned 33.3% in terms of the global acetone market share in 2019. The paints & coatings segment generated the largest share in 2019 because of the rising usage of solvents in this sector as it can dissolve non-polar and polar substances.

Browse Summary:

https://www.fortunebusinessins....ights.com/acetone-ma

Medical Plastics Industry Forecast | Industry Report, Size, Share

The global medical plastics market size is projected to reach USD 54.29 billion by 2027, exhibiting a CAGR of 7.1% during the forecast period. The meteoric rise in the demand for personal protective equipment (PPE) across countries will inevitably fuel the uptake of these plastics,

Summary of Research Report: https://www.fortunebusinessins....ights.com/medical-pl

Personal Protective Equipment Market Size, In-Depth Qualitative Insights, Explosive Growth Opportunity, Regional Analysis by Fortune Business Insights
The global personal protective equipment (PPE) market is set to gain impetus from the persistent efforts by manufacturers operating in the U.S. to make the environment cleaner, safer, and greener. Several glove producers are trying to reduce the energy consumption by enhancing the existing machines or developing new ones. In April 2020, for instance, Mallcom (India) Limited announced its plan to introduce new shoe covers and PPE overalls in addition to its recyclable and disposable face mask, especially for the medical industry. This information is given by Fortune Business Insights™ in a new report, titled, “Personal Protective Equipment (PPE) Market, 2021-2028.” As per the report, the PPE market size was USD 128,675.1 million in 2020 and is projected to reach USD 231,630.4 million by 2028, exhibiting a CAGR of 7.6% during the forecast period.

Segments-

Manufacturing Segment to Lead Stoked by High Demand for Safety Shoes & Earmuffs

Based on the product, the market is categorized into head protection, hearing protection, eye face protection, protective clothing, protective footwear, respiratory protection, hand protection, fall protection, and others. By the end-use industry, it is fragmented into manufacturing, construction, oil & gas, chemical, food, pharmaceutical, transportation, and others. Amongst them, the manufacturing segment generated the largest personal protective equipment market share in 2020. This is attributable to the increasing demand for earplugs, earmuffs, safety shoes, and gloves from workers and employers as these would protect them from fires, heat burns, and electric shocks.


Drivers & Restraints-

Rising Cases of Workplace Hazards Worldwide to Augment Growth

The rising number of ongoing and planned construction and infrastructure projects, especially in India, China, and the U.S. is anticipated to propel the personal protective equipment market growth in the near future. According to the Occupational Safety and Health Administration (OSHA), in 2019, approximately 5,333 workers died on job. Also, on an average, around 15 deaths took place every day in the same year. Hence, the need to provide construction workers with protective shoes or boots with slip or puncture-resistant soles is set to surge rapidly. At the same time, regulatory bodies of various countries are implementing strict norms to protect workers against falls, electrocution, trench cave-ins, and toxic materials. However, the lack of awareness of workplace hazards may hamper the demand for these equipments.

Regional Insights-

Increasing Expenditure in Healthcare Sector to Help North America Dominate

Geographically, North America earned USD 42,805.7 million in 2020 in terms of revenue and is likely to remain at the forefront. The rising government expenditure in healthcare and medical sectors is expected to drive growth. Besides, the surging awareness of manufacturers and workers about crucial occupational safety measures is set to aid growth.

In Europe, the market would remain in the second position throughout the forthcoming years because of the favorable government norms, such as the EU Directive 2016/425. The regulation aims to ensure quality standards of PPE available in the European market. Asia Pacific, on the other hand, is likely to showcase significant growth backed by the rapid industrialization in China, Vietnam, and India.

Browse Link: -

https://www.fortunebusinessins....ights.com/personal-p

Rainscreen Cladding Industry Key Drivers, Industry Size, Regional Investments and Top Segments Data

The global rainscreen cladding market size is projected to reach USD 17,179.1 million by 2027, exhibiting a CAGR of 7.3% during the forecast period. Booming growth in the global construction industry will drive the progress of this market, finds Fortune Business Insights™

Information Source: - https://www.fortunebusinessins....ights.com/rainscreen

Biofield Pharma Prominent PCD Pharma Franchise Company in India

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