Press release
Corrugated Boxes Market Deep Research Report with Forecast to 2031
The global corrugated boxes market is estimated to reach over USD 90.37 billion by 2031, exhibiting a CAGR of 4.29% during the forecast period.
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Corrugated packaging materials are composed of paperboard and are employed to safeguard products that are heavy, bulky, fragile, or of high value during storage and transportation. Products of varying sizes are produced using corrugated packaging. The industry is being driven by a combination of factors, including the population's substantial purchasing power, the increasing reliance of customers on online buying, and the rapid penetration of smartphones and the internet in the country. Consequently, the demand for corrugated board packaging cartons is on the rise. The demand for out-of-home cuisine is on the rise as a result of the convenience and hectic work-life schedules. This is a significant growth driver. The emergence of highly specialized products, including corrugated boards with lightweight flutes, plastic coatings, and printing-compatible surface sheets, provides manufacturers in the sector with a competitive advantage.
List of Prominent Players in the Corrugated Boxes Market:
• Orcon Industries
• Trident Paper Box Industries
• Tgi Packaging Pvt. Ltd.
• Kapco Packaging
• Avon Pacfo Services Pvt. Ltd.
• Mondi Group
• International Paper
• Westrock Company
• DS Smith
• Smurfit Kappa Group
• Rengo Co. Ltd
• Cascades Inc.
• Packaging Corporation of America
• Georgia-Pacific, LLC.,
• Nine-Dragons Worldwide (China) Investment Group Co., Ltd.
• Federal Industries Corporation
• Nippon Paper Industries Co., Ltd.
• Icustomboxes
• Stora Enso
• Svenska Cellulosa Aktiebolaget
• Sappi
• Brødrene Hartmann
• Ufp Technologies
• Deluxe Packaging
• Larsen Packaging Products, Inc.
Market Dynamics:
Drivers-
Simple shipping and packaging boxes are in high demand in a variety of end-use industries, including electronics, healthcare, chemicals, logistics, and food and beverage (F&B). This is one of the primary factors that is influencing the market. Additionally, the demand for corrugated boxes is being driven by the increasing reliance on online purchasing platforms for the purchase of a wide range of products and the expansion of the e-commerce industry, which offers an optimal level of mechanical stress protection. The product promotion among global consumers is enhanced by the ability of the corrugated packaging to print photorealistic images.
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Challenges:
The market encounters significant obstacles in adhering to environmental standards during the production process. Its inclusion as a favored packaging solution is significantly impeded by the high energy consumption and associated environmental implications. End consumers are transitioning from rigid to flexible packaging materials due to factors such as health benefits, convenience, mobility, and sustainability. Moreover, the market's expansion is impeded by the fierce competition from flexible packaging products.
Regional Trends:
The Asia-Pacific corrugated boxes market is anticipated to generate a substantial revenue share and expand at a rapid rate of compound annual growth rate (CAGR) in the near future.
The corrugated board packaging market in China is expected to experience a significant increase due to the expanding urban population, the development of the e-commerce package industry, the decrease in cellulose prices, and the growing awareness of eco-friendly packaging among the population. Among the industry's significant trends and advancements are technological breakthroughs and increased containerboard capacity. Additionally, the corrugated packaging market in Europe is experiencing growth due to the rising environmental consciousness of the urban population, the demand for sustainable packaging, the expansion of convenient packaging, the evolution of e-commerce activity, and the increasing demand for electronic goods and home and personal care products.
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Recent Developments:
• In May 2022, Mondi has disclosed an investment of EUR 280 million to optimize the production of corrugated board and cardboard. The expansion of capacity and efficacy in the Czech Republic, Poland, Germany, and Turkey will be facilitated by this investment. The company's network of Corrugated Solutions facilities in Central and Eastern Europe will receive EUR 185 million of this investment.
Segmentation of Corrugated Boxes Market-
By Printing Ink-
• Water-based Ink
• UV-curable Ink
• Holt melt-based Inks
• Solvent-based Inks
By Material-
• Linerboard
• Medium
• Others
By End-Use Industry-
• Food & beverages
• Electronic goods
• Home & personal care
• Chemicals
• Textile
• Glassware & ceramics
• Paper products
• Others
By Printing Technology
• Flexography Printing
• Lithography Printing
• Digital Printing
• Others
By Type-
• Slotted Box
• Telescope Box
• Rigid Boxes
• Folder Boxes
By Region-
North America-
• The US
• Canada
• Mexico
Europe-
• Germany
• The UK
• France
• Italy
• Spain
• Rest of Europe
Asia-Pacific-
• China
• Japan
• India
• South Korea
• Southeast Asia
• Rest of Asia Pacific
Latin America-
• Brazil
• Argentina
• Rest of Latin America
Middle East & Africa-
• GCC Countries
• South Africa
• Rest of the Middle East and Africa
Details insights on this market: https://www.insightaceanalytic.com/report/corrugated-boxes-market/1682
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