Corrugated Packaging Market: Competitive Landscape & Technological Breakthroughs Analysis in Next Few Years

Surge in disposable income in parallel to increasing population are factors leading to significant demand for various products, which in turn is projected to escalate demand for corrugated packaging. Into the bargain, government of various countries are encouraging application of environment friendly and green products, due to which is estimated to contribute significantly towards growth of the global corrugated packaging market. Corrugated boxes and packaging are conveniently folded and die-cut in various dimensions and shapes in order to provide with adequate requirements related to packaging such as shipping density and shelf dimensions. Corrugated packages can further ensure secure packaging for various products by equipping them with water repellant coatings, or through application of moisture barriers. The global corrugated packaging market is estimated to reach US$ 173.6 Mn by 2020-end, expanding at a CAGR of 4.0% over the forecast period, 2014-2020.

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Key Market Dynamics

Surge in end-user industries such as consumer durables, medicines, petroleum, rubber, and food is estimated to witness an upsurge in demand for corrugated packages. Additionally, growing demand for consumer products in parallel to increasing population are factors, which offer significant growth opportunities to the global corrugated packaging market. Emerging concept of e-commerce is further estimated to significantly contribute towards growth of the global corrugated packaging market. Benefits related to corrugated packages such as availability in cheaper prices and sustainable attributes are increasingly preferred by customers in the upcoming years, which in turn is predicted to escalate growth of the global corrugated packaging market. Besides packaging, corrugated packages further find application as stand-up displays or billboards for the purpose of brand identification, at various shopping stores as high-impact graphic designs can be conveniently printed on them. Due to such factors, the global corrugated packaging market is projected to witness an upsurge in growth.

Corrugated packages of various flute sizes find application for various products based on strength requirements. Furthermore, corrugated can be sheltered from exposure to moisture owing to application of water repellant coatings, and moisture barriers. Attributed to adjustable dimensions and shapes, corrugated packaging and boxes can conveniently folded and die-cut according to the requirements. Corrugated packages and boxes finds significant application in secondary shipping, where it offers highly protected packaging at cheaper prices among other packaging equipment. Apart from these, corrugated packages further find application in primary packaging of products such as electronics. Printed graphics on papers find application on corrugated packages, this process is known as litho lamination or litho-lam. Presently, corrugated retail displays are gaining prominence in various retail outlets at cheaper prices.

In addition, corrugated products are mainly manufactured with application of recovered fibers, owing to which it is considered as a sustainable packaging solution. Corrugated packages further have relatively better packaging rates. Moreover, corrugated packages find application in various household, beverages and personal care products. Such factors are projected to significantly contribute towards growth of the market in the upcoming years.

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However, high tendency to deform along with low degree of durability and strength are factors, which have significantly inhibited growth of the market over the forecast period. Into the bargain, corrugated packages are usually not considered as an ideal for the purpose of packaging as it can find application in packaging products within a particular range of weight. This restricts the application of corrugated packages to a small number industries. Furthermore, cyclic or highly humid weather reduces compression strength within corrugated packages, especially recycled packages or boxes. Moreover, they require to be sheltered from liquid or sparks, as they can hamper corrugated packages or boxes. Such factors are anticipated to restrain growth of the global corrugated packaging market in the span of next six years.

Segment Analysis

On the basis of market size and forecast application, the global corrugated packaging market is segmented into tobacco, electrical and electronic goods, paper products, chemicals, personal care and household goods, fresh food produce, processed food and others.

On the basis of region, corrugated packaging and boxes are mainly manufactured in India, Japan, and China. In North America, U.S. is the major corrugated packaging material producer, whereas Spain, U.K., Germany, France, and Italy are predicted to retain dominance in Europe. However, Turkey, and Brazil are mainly the prominent corrugated packaging producers in the Rest of the World (ROW).

Key Market Players

Some key players operating in the global corrugated packaging market include Nine Dragons Paper (Holdings) Limited, International Paper Company, Smurfit Kappa Group, Rock-Tenn Company, Georgia-Pacific Equity Holding LLC, Lee & Man Paper Manufacturing Ltd., Mondi Group, Oji Holdings Corporation, DS Smith Plc., and Packaging Corporation of America.

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