Nowadays, plastic containers are widely used for storing different types of products. Future Market Insights developed a report on global thin wall plastic containers market. A reporter from FMI has fielded some questions from presumed expansion of global market.
What is your take on expansion of global thin wall plastic containers market?
Well, axcording to the report, the global market for thin wall plastic containers market is anticipated to grow at 5.5% CAGR during 2017-2027. The market was pegged at US$ 26 Bn in the year 2017 and the market is projected to reach valuation of nearly US$ 45 Bn by the end of 2027.
Why do you think the market will grow significantly?
Typically, rising use of thin wall plastic containers is attributed to the increasing demand from food and beverage industry. Further, leading players are focusing on research and development activities in order to stay competent in the global market. Strong presence of leading players globally is key reason for growth of the market.
What are the advantages of thin wall plastic containers according to you?
Number of players globally are focusing on minimizing cost of the product to eliminate the procedure that diminish the bottom line of the manufacturers. In comparison to other forms of packaging like can or glass, a minimum amount of raw material is required for the production of thin wall plastic products. Additionally, the products are manufactured in shorter time cycle, which caters to higher production capacity. Thin wall containers are widely utilized in number of application in medical stores, electronic housing as well as protection of some products in the market that deliver more potential for cost savings for suppliers, manufacturers, as well as retailers in various fields. Further, in order to reach sustainability goals, leading players are focusing on light weighted packaging materials.
What steps do you think manufacturers are taking to improve sales?
Impairment of ecosystem, snowballing landfills as well as long-term health difficulties are several other key reasons which is limiting growth of the market. This factors are harmful for human health. Increasing oversights by customers. Large number of plastic manufacturers are concentrating on production of biodegradable plastic material, which can improve sales and can minimize environmental concerns.
What is restricting more to growth of the market?
Unlike other vertical companies, the thin wall plastic containers industry is also flooded with excess of counterfeit goods. The incursion of counterfeit goods is considered as a major problem for the expansion of the market in foreseeable future. The low quality of the product can harshly harm well-being of the end-users. Companies like Amcor are searching a way to overcome this problem while preserving their novelty of the products.
What are the leading players functioning in the global market?
Double H Plastics, Inc., Mold-Tek Packaging Limited (MTPL) and Sem Plastik, RPC Group Plc, are observed as leading players in the market. However, ENGEL AUSTRIA GmbH, D K Industries, and ACMEPAK PLASTIC PACKAGING, LTD. have further gained a leading position in the market.
Request Report Sample@ https://www.futuremarketinsights.com/reports/sample/rep-gb-5237