The global corrugated board market is estimated to arrive at USD 149.7 billion by 2028. It is projected to develop by 6.5% CAGR in the period of forecast.
As a result of the stringent policies adopted by the local governments, the demand for the corrugated board is expected to be steered by the enlargement in e-commerce packing and the increasing global use of the biodegradable packing solutions.
The augmented reliance on e-commerce trade encouraged by rising usage of the internet and smart phones in the nations like India and China has caused the augmentation of home delivery services, stepping up the need for safer wrapping resolution. Growing infiltration of the e-commerce business in rising economies, by way of an increasing development of m-commerce, is likely to stimulate the enlargement of the corrugated board market.
The boxes manufactured using corrugated boards, offer lucrative as well as sustainable transport of the merchandise that impels their demand in the packing business. The lesser heaviness of single-wall type boards is likely to push the market. Decreasing heaviness of the packing, additionally shrink the area required for the storage, ultimately dropping the general delivery charges of the goods. So, the single wall board style is expected to observe the highest CAGR, during the forecast period.
The corrugated boards are considered as secure for the packing of a variety of goods. It increases the shelf life of the merchandises by means of defending them from ecological circumstances, for example outside pressure, and alterations in temperature.
Hence, paper sourced packing material is accepted in numerous end-use businesses, for example electronics, food & beverages, cosmetics, pharmaceuticals, plus others. The globally rising FMCG and food service markets are moreover between the input factors, powering the demand for the corrugated board.
Owing to a rising demand for the packing of the products, similar to the personal care and fresh food, Europe is likely to possess a more than 29.0% share of the market, by 2028.
As a result of the encouraging plans by the government, which endorse the use of paper packing solutions, Asia Pacific is projected to be the highest rising local market, during the forecast period. Rising funds in the several projects along with Foreign Direct Investments (FDIs), in Asian nations, are expected to develop by a fast rate, propelling the expansion of the corrugated board market.
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Further key findings from the report suggest:
• The manufacturing companies are trying to augment their manufacturing capacities in addition to increase their geographical spread
• The double wall board style section held 23.0% of revenue share of the market for corrugated board, in 2020
• The A-flute type section is expected to come up by 7.3% CAGR, during the forecast period. A-flute is the thickest category amid every flute kind and offers an outstanding cushioning result, that creates it appropriate for utilize in the packing of delicate goods.
• Owing to a twofold coating of a corrugated means, which present superior shield from the pressure and avert damage or breakage to the bundled substances, it is appropriate for the transport of huge or expensive valuable goods
Million Insights segmented the global corrugated board market based on Board Style, Flute Type, and Region.
Corrugated Board Flute Type Outlook (Volume, Million Tons; Revenue, USD Million, 2017 - 2028)
Corrugated Board Style Outlook (Volume, Million Tons; Revenue, USD Million, 2017 - 2028)
• Single Face
• Single Wall
• Double Wall
• Triple Wall
Corrugated Board Regional Outlook (Volume, Million Tons; Revenue, USD Million, 2017 - 2028)
• North America
• Asia Pacific
• South Korea
• Central & South America
• Middle East & Africa (MEA)
• South Africa
Various companies for corrugated board market are:
• Smurfit Kappa
• Stora Enso
• West Rock Company
• International Paper
• DS Smith
• Port Townsend Paper Company
• Oji Holdings Corporation
• Packaging Corporation of America