Packaging Materials Market Report 2019–24 | Top Players Sealed Air Corporation, Ball Corporation, Mondi Group, International Paper, DS Smith, Bemis Company, Inc., Stora Enso, Crown Holdings, Amcor
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Increasing drug manufacturing activities in the U.S. will positively impact the global packaging materials market. Packing materials such as flexible paper, flexible plastic, rigid plastic, glass and metal are widely used in pharmaceutical products such as medicines, antibiotics, vitamins among others. Due to the reactive nature of the pharmaceutical drugs, these products are mostly packed using high quality and inert constituents such as glass, HDPE, and PET structures.
The most commonly used structures for pharmaceutical packaging include bottles, vials, containers, and jars. The U.S. is the prime pharmaceutical industry in the globe accounting for around 40% share of the global revenue. Pharmaceutical manufacturing industry in the country was worth more than USD 150 billion in 2016 which will increase to around USD 170 billion by 2024. This upward trend will propel demand for packing materials in the North American market till 2024.
What are the important points that the Packaging Materials Market report covers with respect to the Material landscape?
• The report segments the Packaging Materials Market into Paper & Cardboard, Rigid Plastic, Metal, Flexible Plastic, Glass, Wood, Textile as per the Material spectrum.
• The market share that each of the Material segments account for in the industry currently, are provided in the report.
• The growth rate at which the Material categories will increase over the forecast period have been mentioned, in tandem with the target valuation that each of the sub-segments will accrue by the end of the projected period.
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The steady growth in the European pharmaceutical industry will also be one of the driving factors for packaging materials market in the study period. Germany, UK, France, Spain, and Italy are the largest pharmaceutical markets in the region accounting for around 70% of the total European market. The pharmaceutical market in these five countries is expected to grow by 25% between 2017 to 2022. Germany and France pharmaceutical industry sales will exceed USD 40 billion and USD 30 billion respectively by 2022, making them the largest markets in Europe. These factors are likely to increase packing materials consumption in the region and will boost the global packaging materials market till 2024.
Paper & cardboard is a key packaging materials segment is expected to generate revenues of more than USD 150 billion in 2024. This segment will gain by more than USD 4% each year from 2017 to 2024 owing to increasing usage of paper-based products for packing applications. Flexible paper packaging materials are widely used for food, pharmaceutical, and personal care products. Cardboard and corrugated board products are widely used in bulk, secondary as well as tertiary packaging applications for a wide variety of products.
What are the important points that the Packaging Materials Market report covers with respect to the Product landscape?
• The report segments the Packaging Materials Market into Composites, Paper Processing, Food & Beverages, Paints & Coatings, Oil & Gas, Personal Care as per the Product landscape.
• The market share that each of the Product types will account for in the industry are provided in the report.
• The growth rate which the Product segments will show over the forecast period in tandem with the valuation that each of the sub-segments will procure by the end of the projected period have been mentioned.
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Healthcare and cosmetics end-user segments are likely to combinedly account for more than 15% of the total market by 2024. Rising consumption of pharmaceutical products around the globe coupled with increasing personal care products demand will augment these end-user segments' market in coming years.
Major packaging materials market participants include Crown Holding Inc., Amcor, Ball Corporation, Mondi, Sealed Air, International Paper Company, Reynolds Group, etc. Apart from these main players, a considerable number of smaller companies are also present in market which caters to customers regionally.
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Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.
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