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Containerboard Industry 2024: Key Trends and Growth Insights Report
Containerboard Global Market Report 2024
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According to The Business Research Company's, The containerboard market size has grown steadily in recent years. It will grow from $128.50 billion in 2023 to $133.70 billion in 2024 at a compound annual growth rate (CAGR) of 4.1%. The growth in the historic period can be attributed to the increasing demand for packaging materials, price and availability of key raw materials, development the environmental regulations and recycling mandates, Increasing demand for sustainable packaging solutions, and changes in consumer behavior towards sustainable packaging.
The containerboard market size is expected to see steady growth in the next few years. It will grow to $157.69 billion in 2028 at a compound annual growth rate (CAGR) of 4.2%. The growth in the forecast period can be attributed to economic growth, the rise of online shopping, population growth, changes in international trade policies, trends towards lightweight packaging and global trade expansion. Major trends in the forecast period include innovations in containerboard production, adoption of digital technologies, investment in infrastructure and capacity expansion, multi-functional packaging and packaging efficiency and optimization.
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Market Drivers and Trends:
The growing demand for electronic items is expected to propel the growth of the containerboard market going forward. Electronic items refer to devices or equipment that operate using electronic circuits and typically involve the control of electrical currents to perform specific functions. The consumption of electronic items is growing due to several reasons, including increased connectivity, digital transformation, e-commerce growth, and emerging markets. Containerboard is used in electronics for durable and eco-friendly packaging solutions, ensuring protection during shipping and handling. Its recyclable nature also supports sustainability efforts in the electronics industry. For instance, in May 2023, according to the Japan Electronics and Information Technology Industries Association, a Japan-based trade association, the total consumer electronics production reached $204.75 million (¥32,099 million) in May 2023, compared to $161.17 million (¥25,268 million) in May 2022. Therefore, the growing demand for electronic items is driving the growth of the containerboard market.
Major companies operating in the containerboard market are focusing on developing innovative products, such as recyclable containerboard, to enhance sustainability and meet environmental regulations. Recyclable containerboard refers to paperboard material that can be easily recycled and reused to minimize environmental impact and promote sustainability. For instance, in June 2024, Mondi, a UK-based packaging company, launched ProVantage SmartKraft Brown and White to meet diverse packaging requirements without compromising quality and performance. ProVantage SmartKraft Brown and White are innovative new containerboard grades that combine the benefits of fresh and recycled fibers. These grades feature a fresh-fiber top layer, providing superior strength, enhanced tunability, and excellent printability, while the underlayer is made from 100% recycled fiber, ensuring sustainability and environmental responsibility. This blend of materials ensures that the containerboard maintains high performance and quality.
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• Competitive Advantage: With in-depth competitor analysis and market share information, stakeholders can identify opportunities to outperform their competition.
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• Global Perspective: The reports cover various regions and markets, providing a broad view that helps stakeholders expand and operate successfully on a global scale.
Major Key Players of the Market:
International Paper and Power Corporation, WestRock Co., Georgia-Pacific Plywood & Lumber Company, Smurfit Kappa Group, Oji Holdings Corporation, Stora Enso Oyj, Mondi Group plc, Packaging Corporation of America (PCA), Nine Dragons Paper (Holdings) Limited, South African Pulp and Paper Industries Limited (SAPPI), Rengo Co.Ltd., Greif Inc., Klabin S.A., Cascades Inc., Lee and Man Paper Manufacturing Ltd., Svenska Cellulosa Aktiebolaget (SCA), Cheng Loong Corp., Europac Group, Seshasayee Paper and Boards Limited, Siam Kraft Industry Co. Ltd., Hamburger Containerboard, Sun Paper Co.
Containerboard Market 2024 Key Insights:
• The containerboard market size is expected to see steady growth in the next few years. It will grow to $157.69 billion in 2028 at a compound annual growth rate (CAGR) of 4.2%.
• Rising Adoption Of Electronic Items Enhanced Containerboard Market Growth
• Advanced Solutions Transforming The Containerboard Market
• Asia-Pacific was the largest region in the containerboard market in 2023
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