Press release
Corrugators Market Top Regions, Key Players, Segmentation and Forecast by 2031
Corrugators Market
Top Companies
Key companies profiled in the corrugators market report include ISOWA Corporation, Mitsubishi Heavy Industries, Ltd., BW Papersystems, Wenzhou Kingsun Machinery Industrial Co., Ltd, Acme Machinery Co. Pvt. Ltd., HIC Machinery Co., Sai Engineering, BHS Corrugated Maschinen- und Anlagenbau GmbH, Champion Corrugated Co., LTD., and Guangdong Dongfang Precision Science & Technology Co., Ltd (Fosber S.p.A.).
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There is an increase in the demand for corrugators machines with the increase in demand for sustainable packaging from industries such as food and beverages, and logistics & supply chain industry. Commonly observed types of corrugator machines in the market are automatic and manual. Out of these, the automatic segment accounted for the highest market share in 2021, owing to its higher productivity, and automated operation. On the basis of production capacity, the market is analyzed across the segments; less than 10 ton, 11-50 ton, 51-100 ton, and more than 100 ton. Among these, the 11-50 ton segment accounted for the highest revenue in 2021.
Furthermore, the market is analyzed with respect to different end users of the corrugators machines; food & beverages, electronics, pharmaceuticals, logistics & shipping, and other industries. Among these, the food and beverages segment registered higher revenue in 2021, owing to increase in demand for eco-friendly packaging from food and beverages manufacturers, and distributors. The market is mainly driven by the increasing demand for sustainable packaging materials, the growth of the food & beverages industry, and high demand for corrugated boxes. However, volatility in raw material prices negatively impacts corrugator machine manufacturers, and users; thereby, constraining the growth of the market.
In 2021, Asia-Pacific accounted for a higher corrugators market share, in terms of revenue. Moreover, Asia-Pacific is anticipated to contribute significantly to the total corrugators market size in 2031, growing with the highest CAGR.
Moreover, technological advancements in corrugator machines and equipment are expected to provide growth opportunities; thereby, positively affecting the corrugators market outlook. Companies such as Mitsubishi Heavy Industries, Ltd., BW Papersystems, and Atulya Machines Pvt. Ltd., along with others offer a large innovative range of automatic as well as manual corrugator lines/machines.
However, various businesses in the corrugators market had to stop their business in countries such as Canada, the U.S., and countries in Europe, during the pandemic lockdown. This break directly impacted the sales of corrugator machine manufacturers. In addition, the lack of manpower and raw materials constricted the supply of raw materials for manufacturing various corrugators; and negatively influenced the growth of the market. However, after two years of the COVID-19 outbreak and the introduction of vaccinations, the severity of the pandemic has significantly reduced and key players in the market are recovering rapidly. Contrarily, emerging cases of COVID-19 especially in China can have a short-term negative impact on the corrugators market growth.
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