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Forecast On Containerboard Market Global Industry Analysis and Trends till 2024
Containerboard market is primarily driven by increasing industrial and manufacturing activities. Better transportation and shipment facilities made shipping between two points globally much more convenient and is anticipated to be a major driver in the containerboard market. The improved durability and strength of container boxes primarily due to high quality containerboards is providing manufactures and industries a better alternative. The improved commerce in various sales channels such as e-commerce where e-commerce enterprises primarily focus on safety and aesthetics of the packaging are anticipated drive the containerboard market where corrugated boxes or containers are used. The growing demand for lightweight and innovative packaging is also driving the global containerboard market. Eco-friendly and recyclable product specification obtained due to containerboard are forcing manufacturers and industries to use corrugated boxes. On the other hand increasing use of plastic is restraining the global demand of containerboard industry. Increasing raw material cost as well as processing cost are considered to be the major restraints in global containerboard market.
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The opportunity for global containerboard market lies in introducing innovative solutions to the packaging industry. Strong, light weight and cost effective containerboards are anticipated to be the major opportunity criteria for the developing global containerboard market. Forming strategic tie-ups with container box producers to produce industry specific products to penetrate in new application sectors is considered to be a major opportunity for the global containerboard market.
The global containerboard market is segmented on the basis of type, grades, application and geography. On the basis of type the global containerboard market is segmented into medium (the inner layer of the corrugated container) and Kraft linerboard (the outer lawyer of the corrugated container). On the basis of grades the global containerboards are segmented into the basis weights according to the various application purposes. Generally the grades are expressed in numbers ranging from 18- 90 according to the basis weight which vary for medium and Kraft linerboard. On the basis of application the global containerboard are classified according to automotive, food and beverages, industrial goods, electrical and electronics and others.
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On the basis of geography, the global containerboard market is segmented into North America, Europe, Asia Pacific (APAC), the Middle East and Africa (MEA) and Latin America. Asia pacific is anticipated to be the largest producer as well as consumer by volume of containerboard. China is expected to be the leading consumer of global containerboard market primarily driven by large scale industrial and manufacturing practices. The Latin America is also considered to be the major player in global containerboard market. Europe is forecasted to show strong demand for containerboard in near future followed by Middle East and Africa.
Some of the key industry stakeholders in global containerboard markets are Greif, Packaging Corporation of America, BillerudKorsnäs AB, DS Smith, Pratt Industries, Inc., International Paper., Mondi, Smurfit Kappa Group, Svenska Cellulosa Aktiebolaget SCA, Klabin, Sonoco Products Company and others.
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