Thermoforming Machine Market

The global thermoforming machine market is projected to experience growth in both volume and value from 2022 to 2030, with a forecasted CAGR of +6.2% and +6.9% respectively. Consumption and production continue to show fluctuations, with major importing and exporting countries contributing to the market. Import and export prices have seen changes over the years, indicating shifts in market dynamics. Overall, the market is expected to see steady growth in the near future.

Market Forecast

Driven by rising demand for thermoforming machine worldwide, the market is expected to start an upward consumption trend over the next eight-year period. The performance of the market is forecast to increase slightly, with an anticipated CAGR of +6.2% for the period from 2022 to 2030, which is projected to bring the market volume to 321K units by the end of 2030.

In value terms, the market is forecast to increase with an anticipated CAGR of +6.9% for the period from 2022 to 2030, which is projected to bring the market value to $8.1B (in nominal prices) by the end of 2030.

Consumption

World Consumption of Thermoforming Machines For Working Rubber Or Plastics

In 2022, approx. 199K units of thermoforming machines for working rubber or plastics were consumed worldwide; which is down by -9.8% against the year before. In general, consumption recorded a abrupt shrinkage. Global consumption peaked at 508K units in 2012; however, from 2013 to 2022, consumption remained at a lower figure.

The global thermoforming machine market size was estimated at $4.8B in 2022, rising by 12% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Overall, consumption continues to indicate a deep reduction. Global consumption peaked at $20.7B in 2012; however, from 2013 to 2022, consumption stood at a somewhat lower figure.

Consumption By Country

The countries with the highest volumes of consumption in 2022 were the United States (20K units), India (16K units) and Japan (13K units), with a combined 24% share of global consumption. China, France, the UK, Germany, Italy, Greece, Thailand, Chile, Brazil and Ethiopia lagged somewhat behind, together comprising a further 33%.

From 2012 to 2022, the biggest increases were recorded for Chile (with a CAGR of +44.4%), while consumption for the other global leaders experienced more modest paces of growth.

In value terms, Japan ($774M), the United States ($428M) and India ($284M) constituted the countries with the highest levels of market value in 2022, with a combined 31% share of the global market. Germany, China, Chile, Greece, Brazil, Italy, Ethiopia, Thailand, France and the UK lagged somewhat behind, together comprising a further 16%.

Chile, with a CAGR of +42.9%, recorded the highest rates of growth with regard to market size in terms of the main consuming countries over the period under review, while market for the other global leaders experienced more modest paces of growth.

In 2022, the highest levels of thermoforming machine per capita consumption was registered in Greece (630 units per million persons), followed by Chile (296 units per million persons), Italy (115 units per million persons) and France (108 units per million persons), while the world average per capita consumption of thermoforming machine was estimated at 25 units per million persons.

From 2012 to 2022, the average annual growth rate of the thermoforming machine per capita consumption in Greece amounted to +34.4%. The remaining consuming countries recorded the following average annual rates of per capita consumption growth: Chile (+42.8% per year) and Italy (+1.5% per year).

Production

World Production of Thermoforming Machines For Working Rubber Or Plastics

In 2022, global thermoforming machine production was estimated at 198K units, picking up by 4% compared with the previous year's figure. In general, production posted a strong increase. The pace of growth was the most pronounced in 2016 when the production volume increased by 68%. Over the period under review, global production hit record highs in 2022 and is likely to see gradual growth in the immediate term.

In value terms, thermoforming machine production totaled $4.3B in 2022 estimated in export price. Overall, production continues to indicate a prominent increase. The growth pace was the most rapid in 2017 with an increase of 29% against the previous year. Over the period under review, global production hit record highs at $4.8B in 2019; however, from 2020 to 2022, production stood at a somewhat lower figure.

Production By Country

China (57K units) constituted the country with the largest volume of thermoforming machine production, comprising approx. 29% of total volume. Moreover, thermoforming machine production in China exceeded the figures recorded by the second-largest producer, the United States (19K units), threefold. India (15K units) ranked third in terms of total production with a 7.7% share.

From 2012 to 2022, the average annual growth rate of volume in China totaled +9.4%. The remaining producing countries recorded the following average annual rates of production growth: the United States (+8.9% per year) and India (+8.2% per year).

Imports

World Imports of Thermoforming Machines For Working Rubber Or Plastics

In 2022, approx. 89K units of thermoforming machines for working rubber or plastics were imported worldwide; waning by -6% against 2021 figures. Over the period under review, imports faced a abrupt setback. The most prominent rate of growth was recorded in 2018 with an increase of 103%. Over the period under review, global imports attained the peak figure at 456K units in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

In value terms, thermoforming machine imports expanded sharply to $1.2B in 2022. The total import value increased at an average annual rate of +3.0% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2017 with an increase of 17%. Global imports peaked in 2022 and are likely to see gradual growth in the immediate term.

Imports By Country

In 2022, Greece (6.6K units), Thailand (6K units), Chile (5.7K units), France (5.6K units), the Netherlands (4.4K units), Russia (4.3K units), Hungary (4K units), the United States (3.2K units), Spain (3.1K units), Malaysia (3K units), Ecuador (2.8K units) and Vietnam (2.8K units) represented the key importer of thermoforming machines for working rubber or plastics in the world, comprising 58% of total import. Indonesia (2.3K units) held a minor share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the key importing countries, was attained by Greece (with a CAGR of +58.1%), while imports for the other global leaders experienced more modest paces of growth.

In value terms, the United States ($87M) constitutes the largest market for imported thermoforming machines for working rubber or plastics worldwide, comprising 7.1% of global imports. The second position in the ranking was taken by Vietnam ($33M), with a 2.7% share of global imports. It was followed by Thailand, with a 2.5% share.

In the United States, thermoforming machine imports increased at an average annual rate of +5.0% over the period from 2012-2022. The remaining importing countries recorded the following average annual rates of imports growth: Vietnam (-1.9% per year) and Thailand (-6.8% per year).

Import Prices By Country

In 2022, the average thermoforming machine import price amounted to $13,826 per unit, jumping by 15% against the previous year. Overall, the import price recorded a significant expansion. The most prominent rate of growth was recorded in 2013 when the average import price increased by 553% against the previous year. Global import price peaked at $16,096 per unit in 2017; however, from 2018 to 2022, import prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was the United States ($27,666 per unit), while Greece ($274 per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Russia (+53.9%), while the other global leaders experienced more modest paces of growth.

Exports

World Exports of Thermoforming Machines For Working Rubber Or Plastics

For the third year in a row, the global market recorded growth in shipments abroad of thermoforming machines for working rubber or plastics, which increased by 36% to 88K units in 2022. Overall, exports continue to indicate a buoyant expansion. The growth pace was the most rapid in 2016 when exports increased by 117%. Over the period under review, the global exports reached the maximum in 2022 and are expected to retain growth in the near future.

In value terms, thermoforming machine exports expanded to $989M in 2022. The total export value increased at an average annual rate of +1.3% from 2012 to 2022; however, the trend pattern remained consistent, with somewhat noticeable fluctuations in certain years. The growth pace was the most rapid in 2021 when exports increased by 25%. Over the period under review, the global exports attained the maximum in 2022 and are likely to see steady growth in years to come.

Exports By Country

China prevails in exports structure, amounting to 49K units, which was near 56% of total exports in 2022. The Netherlands (8K units) held a 9% share (based on physical terms) of total exports, which put it in second place, followed by Brazil (5.8%) and Germany (5.2%). The following exporters - Armenia (3.8K units), the United States (2.3K units), Denmark (2.3K units), Taiwan (Chinese) (1.8K units), South Korea (1.6K units), France (1.5K units) and Italy (1.3K units) - together made up 17% of total exports.

Exports from China increased at an average annual rate of +19.7% from 2012 to 2022. At the same time, Armenia (+295.6%), Denmark (+29.9%), the Netherlands (+20.1%), Brazil (+8.4%) and the United States (+2.3%) displayed positive paces of growth. Moreover, Armenia emerged as the fastest-growing exporter exported in the world, with a CAGR of +295.6% from 2012-2022. By contrast, France (-1.3%), Germany (-3.1%), Italy (-4.0%), South Korea (-5.7%) and Taiwan (Chinese) (-9.3%) illustrated a downward trend over the same period. While the share of China (+34 p.p.), the Netherlands (+5.7 p.p.), Armenia (+4.3 p.p.) and Denmark (+2.2 p.p.) increased significantly in terms of the global exports from 2012-2022, the share of the United States (-2.3 p.p.), France (-2.8 p.p.), Italy (-3.7 p.p.), South Korea (-5.8 p.p.), Taiwan (Chinese) (-10.6 p.p.) and Germany (-11.4 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest thermoforming machine supplying countries worldwide were China ($271M), Germany ($199M) and Taiwan (Chinese) ($96M), together comprising 57% of global exports. South Korea, Italy, the United States, France, the Netherlands, Brazil, Denmark and Armenia lagged somewhat behind, together accounting for a further 23%.

Armenia, with a CAGR of +152.5%, recorded the highest rates of growth with regard to the value of exports, among the main exporting countries over the period under review, while shipments for the other global leaders experienced more modest paces of growth.

Export Prices By Country

The average thermoforming machine export price stood at $11,190 per unit in 2022, falling by -24.4% against the previous year. Over the period under review, the export price saw a deep reduction. The pace of growth appeared the most rapid in 2019 an increase of 67%. Over the period under review, the average export prices attained the peak figure at $30,620 per unit in 2015; however, from 2016 to 2022, the export prices remained at a lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Italy ($56,882 per unit), while Armenia ($68 per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Taiwan (Chinese) (+10.0%), while the other global leaders experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform