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Thermoform Packaging Market worth $65.6 billion by 2028 – Exclusive Report by MarketsandMarkets™

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The report “Thermoform Packaging Market by Material (Plastic, Aluminium, Paper & Paperboard), Heat Seal Coating (Water-Based, Solvent-Based, Hot-Melt-Based), Type (Blister Packaging, Clamshell Packaging, Skin Packaging), End-Use Industry – Global Forecast to 2028″, size is projected to grow from USD 52.2 billion in 2023 to USD 65.6 billion by 2028, at a CAGR of 4.7% from 2023 to 2028.
In the thermoform packaging market, the increasing demand for convenient packaging solutions in the food and beverage sector and e-commerce sector acts as a significant driver, propelled by increasing demand from pharmaceuticals. However, challenges such as stringent regulatory requirements and environmental concerns pose notable restraints. Opportunities arise from the adoption of eco-friendly materials, expansion into emerging markets, and ongoing innovation in design and functionality. Successfully navigating these challenges while capitalizing on opportunities will be essential for industry players to sustain growth and competitiveness in the thermoform packaging market.
Browse in-depth TOC on “Thermoform Packaging Market”
370 – Tables55 – Figures298 – Pages
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The blister packaging segment dominated the thermoform packaging market in 2022.
Blister packaging dominated the market among blister packaging, clamshell packaging, skin packaging, and others in the thermoform packaging market. Its superior product protection, transparent design for enhanced visibility, excessive usage in pharmaceutical medicine packaging, versatility across various industries, and compatibility with automated processes drive its rapid expansion. Technological advancements further enhance its performance and efficiency, catering to evolving market demands effectively.
The plastic segment dominated the thermoform packaging market in 2022.
Plastic emerges as the dominant material choice in the thermoform packaging market due to several key factors. Firstly, plastic offers unparalleled versatility, allowing for the creation of a wide range of packaging solutions tailored to diverse product requirements and industry needs. Its inherent flexibility enables the production of intricate shapes and designs, enhancing product visibility and shelf appeal. Additionally, plastic boasts excellent barrier properties, effectively protecting contents from moisture, oxygen, and other external factors, thereby extending shelf life, and maintaining product freshness. Moreover, plastic packaging is lightweight, making it cost-effective for transportation.
The heat seal coating segment is estimated to be the largest heat seal coating segment in the thermoform packaging market in the forecast period.
Solvent-based heat seal coatings are the preferred choice in the thermoform packaging market due to their exceptional attributes, such as water and grease resistance, strong bonding, and adaptability to different temperatures. They effectively shield against moisture and oils, preserving product freshness, while their robust seals endure handling and transportation, enhancing product protection. Their versatility in processing at varying temperatures adds manufacturing flexibility, meeting diverse packaging requirements. With their superior performance, solvent-based coatings remain dominant in thermoform packaging, meeting stringent industry demands and ensuring packaged goods’ reliability.
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The Food & Beverages segment is estimated to be the largest end-use industry segment in the thermoform packaging market in the forecast period.
The food and beverage industry maintains its dominant position among food and beverages, electronics, home and personal care goods, pharmaceuticals, and other sectors due to its indispensable role in meeting essential consumer needs. With diverse product offerings and evolving consumer preferences, including convenience and health-conscious options, the sector experiences consistent demand. Factors such as population growth, urbanization, and rising disposable incomes further drive market expansion. Additionally, thermoform packaging solutions such as clamshells and skin packaging play a crucial role in preserving food freshness and safety. Clamshells provide secure containment and protection, preventing contamination and prolonging shelf life, while skin packaging utilizes a vacuum-sealed film to tightly adhere to food products, enhancing freshness and minimizing oxidation.
Asia Pacific is estimated to be the largest region in the thermoform packaging market.
The Asia-Pacific (APAC) region emerges as the largest market in the thermoform packaging industry among APAC, North America, Europe, the Middle East, and Africa (MEA), and South America, primarily due to several key factors. APAC boasts a massive population base and robust economic growth, fostering a thriving consumer market with high demand for packaged goods across various sectors. Rapid urbanization, industrialization, and expanding middle-class populations in countries like China, India, and Southeast Asian nations contribute significantly to the region’s dominance in the market. Furthermore, increasing urbanization has led to changes in lifestyle and consumption patterns, driving the need for convenient and efficient packaging solutions. Additionally, the rise of e-commerce and the increasing adoption of online retail platforms in APAC further stimulate demand for thermoform packaging solutions.
Key Players
Amcor Limited (Australia), Sonoco Products Company (US), DS Smith (UK), Huhtamaki OYJ (Finland), WestRock company (US), amongst others, are the key players operating in the thermoform packaging market. Expansions, acquisitions, joint ventures, and new product developments are some of the major strategies adopted by these key players to enhance their positions in the thermoform packaging market.
Browse Adjacent Market: Packaging Market Research Reports & Consulting
Related Reports:
Blister Packaging Market – Global Forecast to 2025
Rigid Plastic Packaging Market – Global Forecast to 2027
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Unveiling the Complex Psychological Implications of Artificial Intelligence

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In today’s world, the realm of artificial intelligence (AI) presents us with fascinating possibilities and unsettling dilemmas. From engaging in nuanced conversations with humanoid robots to grappling with the consequences of deepfake technology, the advancements in AI have far-reaching implications that extend into the realm of human psychology, as noted by Joel Pearson, a cognitive neuroscientist at the University of New South Wales.
While AI holds the promise of simplifying our lives, Pearson emphasizes that these developments can also have profound effects on our mental well-being, challenging our perceptions and emotional responses in ways we may not fully comprehend. Despite our fears of killer robots and rogue self-driving cars, Pearson suggests that the psychological impacts of AI are equally if not more significant, albeit less tangible.
One area of concern highlighted by Pearson is the tendency for humans to anthropomorphize AI entities, attributing human-like qualities to non-human agents such as chatbots. This phenomenon can lead to emotional attachments and vulnerabilities, as evidenced by individuals who develop romantic feelings for AI companions like Replika. Pearson underscores the need for further research into the implications of these human-AI relationships, particularly regarding their impact on interpersonal dynamics and emotional health.
Furthermore, Pearson raises alarm about the proliferation of deepfake technology, which has the potential to distort our perception of reality and erode trust in media. Deepfake images and videos, often used for nefarious purposes like non-consensual pornography, can leave lasting impressions on our psyche, even after their falsity is exposed. Pearson warns of the long-term effects of exposure to such content, particularly on vulnerable populations like teenagers whose developing brains may be more susceptible to manipulation.
In response to these challenges, Pearson calls for a nuanced understanding of AI’s psychological impact and advocates for a proactive approach to addressing its potential harms. He stresses the importance of prioritizing human connection and well-being in the face of technological uncertainty, urging individuals to reflect on their values and embrace activities that foster genuine human interaction.
Ultimately, Pearson’s message serves as a reminder that while AI offers immense potential, we must remain vigilant about its unintended consequences and prioritize our mental and emotional resilience in navigating an increasingly AI-driven world. By acknowledging the psychological implications of AI and engaging in thoughtful dialogue, we can work towards harnessing its benefits while mitigating its risks.
Source: abc.net.au

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US official calls on China and Russia to affirm human, not AI, control over nuclear weapons

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Senior U.S. Official Urges China and Russia to Affirm Human Control Over Nuclear Weapons
In a recent online briefing, Paul Dean, an arms control official from the State Department, called on China and Russia to align their declarations with those of the United States and other nations. He stressed the importance of ensuring that only humans, not artificial intelligence, are responsible for decisions regarding the deployment of nuclear weapons.
Dean highlighted Washington’s firm commitment to maintaining human control over nuclear weapons, a commitment echoed by France and Britain. He expressed the hope that China and Russia would issue similar statements, emphasizing the significance of this norm of responsible behavior, especially within the context of the five permanent members of the United Nations Security Council.
These remarks coincide with efforts by the administration of U.S. President Joe Biden to engage in separate discussions with China on nuclear weapons policy and the development of artificial intelligence.
While the Chinese defense ministry has yet to respond to these comments, discussions on artificial intelligence emerged during recent talks between U.S. Secretary of State Antony Blinken and China’s Foreign Minister Wang Yi in Beijing. Both parties agreed to hold their first bilateral talks on artificial intelligence in the coming weeks, aiming to address concerns about the technology’s risks and safety.
Although U.S. and Chinese officials resumed nuclear weapons discussions in January as part of efforts to normalize military communications, formal arms control negotiations are not expected in the near future. Meanwhile, China, amid its expansion of nuclear capabilities, previously suggested that the largest nuclear powers should prioritize negotiating a no-first-use treaty between each other.
Source: reuters.com

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Enterprise AI Faces Looming Energy Crisis

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The widespread adoption of artificial intelligence (AI) has been remarkable, but it has come at a significant cost.
R K Anand, co-founder and chief product officer at Recogni, highlighted the exponential growth in data and compute power required to train modern AI systems. He emphasized that firms must invest substantial resources, both in terms of time and money, to train some of today’s largest foundational models.
Moreover, the expenditure doesn’t end once the models are trained. Meta, for instance, anticipates spending between $35 billion and $40 billion on AI and metaverse development this fiscal year. This substantial investment underscores the ongoing financial commitment necessary for AI development.
Given these challenges, Anand stressed the importance of developing next-generation AI inference solutions that prioritize performance and power efficiency while minimizing total ownership costs. He emphasized that inference is where the scale and demand of AI will be realized, making efficient technology essential from both a power cost and total cost of operations perspective.
AI inference, which follows AI training, is crucial for real-world applications of AI. Anand explained that while training builds the model, inference involves the AI system producing predictions or conclusions based on existing knowledge.
However, inference also represents a significant ongoing cost in terms of power and computing. To mitigate these expenses, Anand suggested methods such as weight pruning and precision reduction through quantization to design more efficient models.
Since a large portion of an AI model’s lifespan is spent in inference mode, optimizing inference efficiency becomes crucial for lowering the overall cost of AI operations.
Anand highlighted the importance of efficient inference for enterprises, noting that it enables higher productivity and returns on investment. However, he cautioned that without favorable unit economics, the AI industry could face challenges, especially considering the increasing volume of data.
Ultimately, Anand emphasized the need for AI solutions that increase productivity without significantly increasing operating costs. He predicted a shift towards allocating a larger portion of computing resources to inference as AI becomes more integrated into day-to-day work.
Source: pymnts.com

 
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