Corrugated Boards Market Worth USD 192,153.31 million by 2028 - COVID-19 Impact and Global Analysis by The Insight Partners

The corrugated boards market was valued at US$ 127,139.07 million in 2021 and is projected to reach US$ 192,153.31 million by 2028; it is expected to grow at a CAGR of 6.1% from 2021 to 2028. Corrugated packaging materials are used in secondary and tertiary packaging of nondurable and durable goods, such as food and beverages products, consumer durables, electricals and electronics appliances, paper, chemicals, personal care and household products, agriculture products, forestry and fishing products, and plastic and rubber products.

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A few key players operating in the global corrugated boards market are IRANI PAPEL E EMBALAGEM S.A.; Smurfit Kappa; Klabin S.A.; WestRock Company; International Paper; Arcor; Klingele Papierwerke GmbH & Co. KG; Papeles y Conversiones de México; Mondi; and NIPPON PAPER INDUSTRIES CO., LTD.

Corrugated boards market are among the cost-efficient and versatile packaging solutions that help protect a wide range of products, especially during transport. These boards are lightweight, rigid, biodegradable, and recyclable, which makes them an integral component in the packaging industry. A substantial rise in the demand for the fast-moving consumer goods (FMCG) and branded consumer durables across the world is bolstering the use of corrugated boards for packaging. The boards are extensively used across the food & beverages industry to pack processed food items such as bread, snacks, ready-to-eat (RTE) meals, and meat products; fruits; durable food products; and beverages.

Impact of COVID-19 Pandemic on Corrugated Boards Market

Many sectors, such as the chemicals & materials industry, faced unprecedented challenges due to the COVID-19 pandemic. The implementation of COVID-19 safety protocols led to the shortage of raw material and labor, shutdown of factories, and other operational difficulties. Therefore, companies involved in the manufacturing of packaging products faced a contraction in sales during the initial months of the pandemic.

Businesses are gaining ground as the governments of various countries eased out the previously imposed restrictions. Moreover, the introduction of COVID-19 vaccine has eased out the situation, leading to a rise in business activities across the world. Moreover, logistics companies involved in the transportation of daily essential goods and food and beverage products propelled the demand for corrugated boards.

The report segments the corrugated boards market as follows:

Based on application, the corrugated boards market is segmented into food and beverage, e-commerce, consumer durables, electrical and electronics, and others. Based on geography, the market is segmented into North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA), and Latin America (LATAM)

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