India: Thermoforming Machine Market 2025

Thermoforming Machine Market Size in India

The Indian thermoforming machine market expanded markedly to $X in 2021, surging by 9.2% against the previous year. Over the period under review, the total consumption indicated a strong increase from 2012 to 2021: its value increased at an average annual rate of +5.8% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption decreased by -6.1% against 2019 indices. As a result, consumption attained the peak level of $X. From 2020 to 2021, the growth of the market remained at a somewhat lower figure.

Thermoforming Machine Production in India

In value terms, thermoforming machine production rose rapidly to $X in 2021 estimated in export price. In general, production posted a resilient expansion. The pace of growth appeared the most rapid in 2019 when the production volume increased by 59% against the previous year. As a result, production attained the peak level of $X. From 2020 to 2021, production growth remained at a somewhat lower figure.

Thermoforming Machine Exports

Exports from India

In 2021, overseas shipments of thermoforming machines for working rubber or plastics increased by 16% to X units for the first time since 2018, thus ending a two-year declining trend. Over the period under review, exports enjoyed a remarkable increase. The most prominent rate of growth was recorded in 2015 when exports increased by 88% against the previous year. The exports peaked at X units in 2018; however, from 2019 to 2021, the exports stood at a somewhat lower figure.

In value terms, thermoforming machine exports skyrocketed to $X in 2021. In general, exports continue to indicate a prominent increase. The exports peaked at $X in 2019; however, from 2020 to 2021, the exports failed to regain momentum.

Exports by Country

Malaysia (X units) was the main destination for thermoforming machine exports from India, accounting for a 45% share of total exports. Moreover, thermoforming machine exports to Malaysia exceeded the volume sent to the second major destination, the Netherlands (X units), fourfold. The third position in this ranking was taken by Nepal (X units), with a 7.4% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Malaysia stood at +64.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: the Netherlands (+24.1% per year) and Nepal (+4.6% per year).

In value terms, Malaysia ($X) remains the key foreign market for thermoforming machines for working rubber or plastics exports from India, comprising 11% of total exports. The second position in the ranking was held by Ghana ($X), with a 5% share of total exports. It was followed by the Philippines, with a 4.5% share.

From 2012 to 2021, the average annual growth rate of value to Malaysia amounted to +60.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Ghana (+83.3% per year) and the Philippines (+36.8% per year).

Export Prices by Country

The average thermoforming machine export price stood at $X per unit in 2021, growing by 23% against the previous year. In general, the export price, however, continues to indicate a mild decline. The most prominent rate of growth was recorded in 2017 an increase of 37% against the previous year. The export price peaked at $X per unit in 2013; however, from 2014 to 2021, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Indonesia ($X per unit), while the average price for exports to the Netherlands ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Indonesia (+36.0%), while the prices for the other major destinations experienced more modest paces of growth.

Thermoforming Machine Imports

Imports into India

In 2021, approx. X units of thermoforming machines for working rubber or plastics were imported into India; surging by 106% on the year before. In general, imports posted a remarkable increase. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, thermoforming machine imports surged to $X in 2021. Overall, imports enjoyed a tangible expansion. The most prominent rate of growth was recorded in 2015 when imports increased by 124%. Imports peaked at $X in 2018; however, from 2019 to 2021, imports remained at a lower figure.

Imports by Country

In 2021, China (X units) constituted the largest supplier of thermoforming machine to India, with a 70% share of total imports. Moreover, thermoforming machine imports from China exceeded the figures recorded by the second-largest supplier, Taiwan (Chinese) (X units), more than tenfold. Argentina (X units) ranked third in terms of total imports with a 3% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from China stood at +87.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Taiwan (Chinese) (+26.0% per year) and Argentina (0.0% per year).

In value terms, China ($X) constituted the largest supplier of thermoforming machines for working rubber or plastics to India, comprising 49% of total imports. The second position in the ranking was taken by Taiwan (Chinese) ($X), with a 23% share of total imports. It was followed by Bulgaria, with a 1.8% share.

From 2012 to 2021, the average annual rate of growth in terms of value from China amounted to +12.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Taiwan (Chinese) (+4.1% per year) and Bulgaria (-2.5% per year).

Import Prices by Country

The average thermoforming machine import price stood at $X per unit in 2021, waning by -25.7% against the previous year. Overall, the import price showed a deep slump. The most prominent rate of growth was recorded in 2015 an increase of 130% against the previous year. The import price peaked at $X per unit in 2016; however, from 2017 to 2021, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was Taiwan (Chinese) ($X per unit), while the price for Argentina ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by New Zealand (+47.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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