The blister packaging market size is projected to grow from USD 18.65 Billion in 2016 to reach USD 28.38 Billion by 2022, at a CAGR of 7.2%. The global blister packaging market is witnessing demand, owing to the rise in manufacturing activities and growth in demand for conveniently packaged products. Growth in demand from the healthcare industry also provides an opportunity to the market to grow further, especially in the emerging Asia-Pacific and South American regions.
Download the PDF brochure @https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=24775059
The materials on which the thermoforming process is used include low density polyethylene (LDPE), high density polyethylene (HDPE), polyvinyl chloride (PVC), polypropylene (PP), polystyrene (PS), and others such as acrylic. Thermoforming technology is widely used to manufacture aluminum and plastic blister packs.
Thermoforming of plastics require low initial tooling and equipment cost as compared to injection and blow molding techniques. Thermoformed plastic films give wide design scope and a visually pleasing appearance leading to a rise in its demand for blister packaging.
Under the end-use sector, the healthcare sector is projected to grow at the highest rate due to the high demand for pharmaceutical packaging as it offers durability and product protection & security features. Blister packaging for healthcare products reduces the possibility of product contamination. It also protects healthcare products from moisture, gas, light, and temperature.
North American region accounted for the highest share in the total market of blister packaging market, in terms of value, followed by Asia-Pacific and Europe, owing to manufacturers’ focus on developing low-cost blister packaging options. However, as the blister packaging market in developed countries is matured, the markets in U.S. and Canada are projected to grow the highest rates from 2016 to 2022. The Asia-Pacific region is projected to register the highest growth during the forecast period; this is attributed to the large customer base for FMCG products and consumer durables, due to the growth in population in countries of this region; this, in turn, is expected to lead to the growth of the blister packaging market.
High initial capital investments has caused an unfavorable impact on the profitability of the packaging industry. The global blister packaging market is dominated by players such as Amcor Limited (Australia), The Dow Chemical Company (U.S.), WestRock Company (U.S.), Bemis Company, Inc. (U.S.), and Sonoco Products Company (U.S.). Other payers include Constantia Flexibles (Austria), Klockner Pentaplast Group (Germany), E.I. du Pont de Nemours and Company (U.S.), Honeywell International (U.S.), Display Pack, Inc. (U.S.), Tekni-Plex, Inc. (U.S.), and Pharma Packaging Solutions (U.S.). These players adopted various strategies such as acquisitions, new product launches, agreements & collaborations, and expansions to cater to the needs of the blister packaging market.
No comments:
Post a Comment