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Plastic Corrugated Packaging Market to Reap Excessive Revenues by 2028
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Plastics corrugated packaging products have different visual appeal compared to conventional flexible packaging. Plastics corrugated packaging can resist humidity and other solvents, and maintains integrity. The plastics corrugated packaging market is expected to grow followed by the push of end-use industries, such as food & beverages and automotive, which are registering significant growth in several regions, owing to increased consumption. Decorating surface of carrying units with plastics corrugated packaging is likely to augment the market growth during the forecast period.
Plastics Corrugated Packaging with RFID System Likely to Provide Growth Opportunities
Plastics corrugated packaging boxes are now being offered with RFID or radio frequency identification system for tracking the product. These closed-loop plastic corrugated boxes are manufactured and introduced by Technology Container Corp. of Desoto, Texas.
TCC Techno-Box is a corrugated box made of polypropylene with the feature of self-locking bottoms and tops. These boxes are available with RFID tracking system to and can be used repeatedly for hundreds of cycles in a system. These boxes are extensively used for distribution purpose where users can track down the cycling number of the product. Furthermore, the system can provide the information of product's location and other information. Additionally, these plastic corrugated boxes reduce the transport weight and lessen the storage issue.
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Price Transmission in Crude Oil Industry to Drive Market Growth
While oil price fall has left the crude oil industry staggering, the plastics industry is relaxing. The plastic industry is strongly influenced by crude oil prices, as the plastic is mainly derived from petroleum products. This is the reason when crude oil crashed, the cost of plastic production dropped significantly and triggered a blast in production and demand.
Primary plastic product producers have hiked their product-cost by Rs. 1,000 in tune with the fluctuation in crude oil prices. Price of materials such as HDPE (High-Density Polyethylene), LDPE (Low Density Polyethylene), LLDPE (Linear Low Density Polyethylene), and PVC (Polyvinyl Chloride) have also led to crude oil price fall.
According to the analysts, cheap oil promotes production of new plastic products and it is now more cost effective than recycling the plastic.
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Plastics Corrugated Packaging Market: Competition Landscape
The global plastics corrugated packaging market is highly fragmented in nature into which, larger portion of market share is held by domestic market players. Some of the key players operating in the global plastics corrugated packaging market are DS Smith Plc, Coroplast, Dynapac Co. Ltd, FlEXcon Company, Inc., Söhner Kunststofftechnik GmbH, Technology Container Corp, Minnesota Diversified Industries, Inc, American Containers Inc., Yamakoh, Co., Ltd., Samuel Grant Packaging, Amatech Inc., Twinplast, Dongguan Jianxin Plastic Products Co., Ltd., ORBIS Corporation, Androp Packaging, Inc., Shish Industries Limited, Mills Industries, Classic Enterprises Pvt Ltd Packman Packaging Private Limited, and Siddhiplast by suninfy.
The tier structure is formulated on the basis of segmental revenue and market share of the company. As per tier structure, DS Smith Plc is the tier 1 players in the plastics corrugated packaging market. All players are focusing on widening their product portfolio for multiple applications to gain competitive edge in the market. Tier 2 players include Dynapac Co. Ltd., Söhner Kunststofftechnik GmbH, ORBIS Corporation, FLEXcon Company Inc. and Tier 3 players include Coroplast, Technology Container Corp, Minnesota Diversified Industries, Inc., American Containers, Inc., Yamakoh, Co., Ltd., Samuel Grant Packaging (Sheffild), Amatech Inc., Twinplast Ltd., Dongguan JianXin Plastic Products Co.,Ltd., Androp Packaging, Inc., Shish Industries Limited, Mills Industries, Classic Enterprises Pvt Ltd, Packman Packaging Private Limited, and Siddhiplast by suninfy.
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