The corrugated board packaging market is expected to gain market growth in the forecast period of 2022 to 2029. Data Bridge Market Research analyses that the market is growing with the CAGR of 5.7% in the forecast period of 2022 to 2029 and expected to reach 423,036.15 million by 2029.
Growing small and medium-sized corrugated board packaging in the food and beverage packaging industry and increasing preferences for recycled corrugated products in the packaging industry.
In order to fulfill the growing demand for corrugated board packaging products in the building and construction and electronics industry, some companies are expanding their production capacities by entering into acquisition, joint venture and launching products across different regions.
There are several types of corrugated board packaging such as single-phase, single-wall, double wallboard, triple wallboard, and others. Single-phase corrugated board packaging includes a single flute and one or two sheets of the linear board. Single wall corrugated board packaging involves one sheet of the corrugated medium glued and placed in between two sheets of the liner board.
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Double wallboard refers to that type of corrugated board packaging consisting of two layers of the corrugated medium glued between three layers of the liner board. Triple wallboard refers to that type of corrugated board packaging, which is considered the strongest of all kinds of corrugated board packaging as it consists of three layers of the corrugated medium and the four-layer of the liner board.
Corrugated Board Packaging Market Scope and Market Size
Global corrugated board packaging market is segmented into four notable segments which are based on the grade, raw material, style and end-use. The growth among segments helps you analyze niche pockets of growth and strategies to approach the market and determine your core application areas and the difference in your target markets.
On the basis of grade segment, the global corrugated board packaging market is segmented into white-top kraftliner, unbleached kraftliner, white-top testliner, unbleached testliner, waste-based fluting, and semi-chemical fluting. In 2022, the unbleached testliner segment is expected to dominate the market owing to availability in abundance, which maximizes consumption in the global market. The force’s resistance properties maximize application in various areas that drive the unbleached testliner segment in the global market.
Corrugated Board Packaging Market Country Level Analysis
The linerboard segment is expected to grow with the highest growth rate in the forecast period of 2022 to 2029 due to the easy processing techniques, improved efficiencies as well as easier usage. China dominates the Asia Pacific region as China has been the largest producer and consumer of corrugated packaging, which is believed to continue over the forecast period. Booming sales of processed foods and beverages, especially in country, account for the robust growth of the China market.
Germany dominates the Europe region due to growing demand for fresh food & beverages, home & personal products, logistics application, electronic goods, building consumer awareness towards sustainable packaging, and growth of the e-commerce industry have led to a regular progression in the corrugated packaging demand in Germany. U.S. dominates the North America region due to the growing awareness among consumers regarding the usage of environment-friendly products is expected to drive the demand for the corrugated board packaging market in U.S. over the forecast period.
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Competitive Landscape and Corrugated Board Packaging Market Share Analysis
Some of the major players operating in the corrugated board packaging market are:
International Paper, Mondi, Smurfit Kappa, Cascades Inc., WestRock Company, Oji Holdings Corporation, Packaging Corporation of America, Sealed Air, Rengo Co., Ltd., DS Smith, NIPPON PAPER INDUSTRIES CO., LTD., NEFAB GROUP, Neway Packaging, Georgia-Pacific, Arabian Packaging Co LLC, Wertheimer Box Corp., Klabin S.A., Klingele Papierwerke GmbH & Co. KG, B Smith Packaging Ltd, and Jonsac AB among others.
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