Thermoformed Plastic Market Size

Thermoformed Plastic Market size was valued at USD 11.8 billion in 2024 and is set to reach USD 33.96 billion by the end of 2037, expanding at around 8.4% CAGR during the forecast period i.e., between 2025-2037. In the year 2025, the industry size of thermoformed plastic is assessed at USD 12.6 billion.

Thermoformed plastics are widely used in the packaging industry due to their versatility, cost-effectiveness, and ability to protect products during transportation. Improvements in plastic materials, including biodegradable and compostable options, have expanded the range of applications for thermoformed plastics and driven market growth.

Thermoformed is a manufacturing process where plastic sheets are heated to a pliable forming temperature, shaped into a specific mold, and then trimmed to create a final product. It is commonly used for packaging materials, disposable containers, automotive parts, medical equipment, and various other applications. The automotive sector was also a key driver of the thermoformed plastic market, with the increasing use of thermoformed parts in vehicle interiors and exteriors.