Vacuum Formed Tray Market: Overview
Vacuum formed trays are the trays that used to hold, protect, organize and transport a variety of products. Low cost effective solutions for storage and transportation are offered by the vacuum formed trays. These trays are especially designed to protect the automotive & electronics parts during the shipments and can also be utilized during the manufacturing process. Vacuum formed trays also finds application in material handling containers for commercial and industrial applications. Vacuum formed trays can be shaped to fit the product with features such as stacking, indentations, de-nesting for easy stacking and removal from shipping boxes. Vacuum formed trays are used for protecting various electronics, interior components and dash panels in electronics and automotive industry.
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The global vacuum formed trays packaging market is driven by the increasing growth of electronics industry. Increasing demand for protecting various electrical and automotive component parts are expected to stimulate the sales of vacuum formed trays market during the forecast period.
Vacuum Formed Tray Market: Dynamics
Vacuum formed trays offer manufacturers and customers offers benefit of lower costs and shorter lead times as compared to injection molded trays. Apart from material and other production expenses, vacuum forming differs heavily from injection molding in terms of tooling costs and lead times. In addition, vacuum formed trays are lightweight.
Vacuum formed trays made using polypropylene material have high heat resistance, allowing longer packaging life span. Additionally, PP Vacuum formed trays are strong enough to endure the supply chain shocks and impacts. Vacuum formed insert trays that form an internal part of packaging systems are supplied for their functionality to organize product components in a manner to save space. Insert trays allow optimizing packaging space and reduces overall packaging volume in supply chain and on retail shelves. Vacuum formed trays also provides insert trays with customized cavities that fit cosmetic, electronics and other retail products in packaging systems to improve their merchandising appeal and to make maximum use of shelf space. All these factors contribute in driving the vacuum formed trays market globally. Moreover, the ability to select suitable materials and implement complex design specifications has enabled vacuum formed packaging products to be adapted for medical & pharmaceutical packaging purposes. Due to light weight and resistance characteristics vacuum formed trays are gaining popularity because it gives assurance that the product is free damage and moisture during transit, which is another factor in escalating the market of vacuum formed trays in the market. However, due to stringent regulations and checks on shipment of items which is affecting the market. Also, alternative present in the market such as thermoformed products which might affect the market in the near future.
Vacuum Formed Tray Market: Segmentation
On the basis of material, global vacuum formed tray can be classified as follows:
- Polyethylene Terephthalate (PET)
- PETG (Polyethylene Terephthalate with Glycol)
- RPET (Recycled Polyethylene Terephthalate)
- Polyvinyl Chloride
- High Density Polyethylene (HDPE)
- Others (Polystyrene, etc.)
On the basis of product type, global vacuum formed tray can be classified as follows:
- Thin gauge vacuum formed trays
- Heavy gauge vacuum formed trays
On the basis of end use, global vacuum tray can be classified as:
- Electrical & Electronics
- Pharmaceutical & Medical
- Automotive & Aerospace
- Shipping & Logistics
- Other manufacturing
Vacuum Formed Tray Market: Regional Outlook
Geographically, the global vacuum formed tray market can be segmented as North America, Latin America, Europe, South & East Asia, Oceania and other emerging countries. Out of these, North America is estimated to have positive potential in the vacuum formed trays during the forecast period.
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Vacuum Formed Tray Market: Key Players
- Thermoforms, Inc.
- CPP Ltd.
- USK Balaji Plast Pvt. Ltd.
- Engineered Components & Packaging, LLC
- PACKIQ LLC
- Universal Plastics Corporation
- Ameripak Industries Inc.
- Popco Inc.
- Vision Packaging Ltd.
- Europack S.A.
- Display Pack, Inc.