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Rising applications within the pharmaceutical sector is a chief driver of the thermal insulation packaging market. In a new study, Future Market Insights (FMI) has predicted the market to reach a valuation of US$ 68.3 Bn in 2022. Within the pharmaceutical industry products are often shipped across the globe.
Pharmaceutical logistics is a complex web of local, regional and international chain that requires multiple modes of transportation. Air and ground have been the most preferred modes of transportation, however sea freight is also gaining traction nowadays.
Key Takeaways of Thermal Insulation Packaging Market Study
Thermal insulation packaging is forecast to register high near-term growth. According to FMI, the market will rise at 17.2% CAGR over the assessment period
Demand from the U.S. will remain crucial to growth registered, as it is expected to account for dominant 86.6% of the North America market in 2021
Within Europe, the U.K. will continue exhibiting high demand, registering above 18% Y-o-Y growth in 2021
France and Germany will emerge as other key markets for thermal insulation packaging, with demand in both countries increasing at a robust pace through 2030
Japan, South Korea, and China will emerge as strong markets for thermal insulation packaging. Of these, China will remain dominant in East Asia through assessment period
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