Layer Pads Market to Reach a Valuation of US$ 1.6 Bn by 2026
As predicted by FMI, the global layer pads market could expand at a CAGR of 6.0% during the forecast period 2017-2027. By the final forecast year, the market could be valued at a US$1.6 bn. By 2017, the market held a valuation of US$0.9 bn. By material, plastic has been anticipated to account for an 80.0% of the total market share by 2027 end. By region, Asia Pacific Excluding Japan (APEJ) could take the driver’s seat in the market while being valued at a US$0.5 bn by the same year.
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Increase in Online Shopping Benefits Growth as Layer Pads Enrich Brand Visibility
The rising demand for protective packaging in emerging economies has been foreseen to bode well for the overall growth of the world layer pads market. The revenue growth of the market could experience a sharp increase in the coming years due to the rise of online shopping. Product manufacturers across the globe have been adopting layer pads at a high degree owing to the beneficial factor of enhanced brand visibility.
End users have been demanding layer pads at a growing rate in order to meet various packaging needs with the help of customized solutions. The beverages industry in particular has been expected to spark a mighty demand in the world layer pads market, leaving behind other end-use industries such as manufacturing, chemical, electronics, and food and agro products. Western Europe could witness beverages growing as one of the most attractive end users of layer pads. The high consumption of beverages could be considered as a major factor supporting the growth of this region.
Slow Growth of Manufacturing Sector Spoils Rise in Demand for Layer Pads
Despite the growth of the layer pads market in prime regions such as Western Europe because of the flourishing beverages industry, there could be a slack in demand due to the sluggish growth of the manufacturing industry in the region. This could be for the reason that the market is not solely dependent on one end-use industry. Players could expect impressive prospects birthing in other industries as well.
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Nevertheless, the international layer pads market has been envisaged to gain more opportunities in the near future. The cube design optimization of layer pads packaging could create a strong business prospect for players operating in the market. This type of packaging demands less engagement of packaging material and is aimed to maximize the product-to-packaging ratio. Manufacturers could stir up the demand for customized layer pads capable of suiting their product size and shape requirements. Layer pads protecting packaging could be engaged at a significant rate owing to the swift movement of work in progress (WIP) components from one assembly to another.
The information presented in this review is based on an FMI report, titled “Layer Pads Market: Beverages End Use Industry to Hold More Than 3/4th Market Share during the Forecast Period: Global Industry Analysis (2012 - 2016) & Opportunity Assessment (2017 - 2027).”
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