Press release
South East Asia Corrugated Packaging Market Growth 2018-2026 |Key Players FinePac Industries Sdn Bhd, Stanpack Industries Pte Ltd., Tat Seng Packaging Group Ltd
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The growing use of this economical, ecofriendly, and light weight packaging by various end users such as electronics, automotive, pharmaceuticals, healthcare, and food and beverages is the major growth driver for corrugated packaging market. Advancement in e-commerce sector is augmenting corrugated packaging market. The durability of corrugated packaging and its inability to withstand harsh outdoor and indoor conditions are the major challenges faced by corrugated packaging market. Developments in corrugated packaging include improved water resistance, corrosion resistance, decreasing the corrugated board weight, cooler corrugating, zero defect technology, and exploring new fields such as microencapsulation and nanotechnology.
There is a lucrative demand for corrugated packaging material in food and beverages industries, as they are mainly used in packaging of processed food. The use of corrugated boxes in fresh food packaging is fueling the growth of corrugated packaging market.
The companies are adopting various organic and inorganic growth strategies to retain their market position. For instance, Thai Containers Group Co., Ltd, which is a joint venture between SCG Packaging Public Company Limited has acquired 80% stake in PT Indocorr Packaging Cikarang in April 2017. Key market players operating corrugated packing in the South East Asia corrugated packaging include Perhimpunan Industry Corrugated Cardboard Indonesia, PT. IPI (International Packaging Industries Ltd.), The Box Company, Acter Carton Sdn Bhd, FinePac Industries Sdn Bhd, Stanpack Industries Pte Ltd., Tat Seng Packaging Group Ltd, Cheng Heng Paper Product Co. Pte Ltd., and Binh Minh Packaging.
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