Plastic Corrugated Packaging Market to Reach USD 296.04 Billion by 2032; Increasing Demand For Packaging Solutions From The Expanding E-Commerce Industry
The global plastic corrugated packaging market size is anticipated to grow from USD 200 billion to USD 296.04 billion in 10 years. The market will experience rapid growth due to innovation in materials used for plastic corrugated packaging during the forecast period. Rapid economic growth and industrialization have contributed to the growing manufacturing and trade activities.
Newark, Jan. 16, 2024 (GLOBE NEWSWIRE) — The Brainy Insights estimates that the USD 200 billion in 2022 global plastic corrugated packaging market will reach USD 296.04 billion in 2032. Corrugated plastic sheets are used to make plastic corrugated packaging. Polypropylene or polyethylene are mostly used to make them. It’s a strong, adaptable substance. It is utilized in a number of industries, including retail, electronics, shipping and transportation, and agriculture. It is employed in constructing boxes, crates, and other containers to safeguard cargo during transit and guarantee that the amount within stays uncontaminated. It is also used in retail for signs and the increasingly common personalized product packaging. Additionally, auto parts are protected with it while in transit. Similarly, the electronics industry depends on it to move sensitive components safely. It is an affordable, adaptable, and sturdy packing option. This packaging material’s lightweight design lowers the cost of transportation. Its broad acceptance across industries is partly attributed to its ease of handling during transit. In addition, it is reusable, recyclable, and water-resistant. These elements play a major role in supporting sustainability and providing environmental advantages. Protecting goods during transit is ensured by their durability against impacts and hard handling. Plastic corrugated packaging stands out as a sensible option when looking for effective and safe packaging that may be customized to meet their various needs.
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Key Insight of the Global Plastic corrugated packaging Market
Asia Pacific will dominate the market during the forecast period.
The expansion of manufacturing and commerce operations has been facilitated by rapid economic growth and industrialization. The e-commerce market has grown as well. Plastic corrugated packaging is widely used in these industries because it is reasonably priced, lightweight, and adaptable. The expansion of the industry is also being aided by the other expanding sectors in the area, such as agriculture and electronics. The need for effective packaging solutions is further fueled by the region’s expanding population and rising demand for consumer goods.
In 2022, the folding boxes segment dominated the market with the largest market share of 38% and market revenue of 76 billion.
The packaging type segment is divided into folding boxes, crates, bins and racks, trays, inserts and dividers and others. In 2022, the folding boxes segment dominated the market with the largest market share of 38% and market revenue of 76 billion.
In 2022, the polyethylene segment dominated the market with the largest market share of 45% and market revenue of 90 billion.
The material segment is divided into polypropylene, polyethylene terephthalate, polycarbonate, and polyethylene. In 2022, the polyethylene segment dominated the market with the largest market share of 45% and market revenue of 90 billion.
In 2022, the food and beverages segment dominated the market with the largest market share of 35% and market revenue of 70 billion.
The end-user segment is divided into food and beverages, automotive, agriculture, electrical and electronics, healthcare and others. In 2022, the food and beverages segment dominated the market with the largest market share of 35% and market revenue of 70 billion.
Advancement in market
Supermarkets in Austria are receiving a new plastic substitute for the Coca-Cola, Fanta, Sprite, and Mezzo mix brands with the partnership between Coca-Cola HBC Austria, DS Smith, and Krones. This application uses DS Smith Lift Up packaging, a corrugated handle made entirely of recyclable materials. According to the firms, the format enhances carry functionality for customers. It is intended to help, together with other partners, decrease around 200 tonnes of plastic annually for Coca-Cola HBC Austria through kraft paper and corrugated cardboard.
Market Dynamics
Driver: The rising need for packaging solutions in a variety of sectors.
The necessity for durable and effective packaging materials has expanded due to the exponential growth of e-commerce. Plastic corrugated packaging meets the unique needs of the growing online retail industry by providing an ideal solution for product protection during transit due to its lightweight and sturdy qualities. Additionally, companies are looking for eco-friendly packaging solutions due to a greater awareness of environmental sustainability. Higher quality corrugated plastic materials can be recycled, which aligns with the increasing focus on environmentally friendly activities. Moreover, the customizable features of plastic corrugated packaging contribute to its increased demand. Thus, the growing need for packaging solutions, particularly from the developing e-commerce sector, will propel the expansion of the global plastic corrugated packaging market.
Restraints: low resistance properties.
These remedies are not the best for dealing with severe weather. They are not resistant to high pressure or extremely low or high temperatures. Prolonged exposure to sunlight can weaken their structure and affect the contents of the package as a result. They may become brittle in cold weather, which raises the possibility of cracks and breakage. These characteristics render it less suitable for packaging, which may impede its acceptance and expansion within the industry.
Opportunities: The industry’s increasing innovation.
New strong but incredibly light materials are being introduced due to increased research and development, which facilitates shipping and lowers carbon emissions. Innovative coatings are being created to shield items inside packaging from sunlight, precipitation, and chemicals, preserving the quality of the product for the duration of its life. Users can now customize their package with the introduction of customization. Another growing trend in tracking items is the use of sensors and trackers. The global market for plastic corrugated packaging will continue to grow and develop due to these advancements and developments.
Challenges: The energy consumption concerns of plastic corrugated packaging.
The production and disposal of plastic corrugated packaging are hindering the market’s growth. The production of this material involves fossil fuels, contributing to emissions and resource depletion. Additionally, plastic corrugated packaging is not entirely biodegradable, and some variants are not even recyclable, which leads to pollution and potential harm to ecosystems and wildlife. People are increasingly aware of the long-lasting impact of plastics, and there’s a growing push for completely biodegradable and environmentally friendly alternatives. These factors will impede the market’s growth.
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Some of the major players operating in the global plastic corrugated packaging market are:
• American Containers Inc.
• Coroplast
• DS Smith Plc
• Dynapac Co. Ltd
• FlEXcon Company, Inc.
• Minnesota Diversified Industries, Inc.
• Samuel Grant Packaging
• Söhner Kunststofftechnik GmbH
• Technology Container Corp
• Yamakoh, Co., Ltd.
Key Segments covered in the market:
By Packaging Type
• Folding Boxes
• Crates
• Bins and Racks
• Trays
• Inserts and Dividers
• Others
By Material
• Polypropylene
• Polyethylene Terephthalate
• Polycarbonate
• Polyethylene
By End User
• Food and Beverages
• Automotive
• Agriculture
• Electrical and Electronics
• Healthcare
• Others
By Region
• North America (U.S., Canada, Mexico)
• Europe (Germany, France, the UK, Italy, Spain, Rest of Europe)
• Asia-Pacific (China, Japan, India, Rest of APAC)
• South America (Brazil and the Rest of South America)
• The Middle East and Africa (UAE, South Africa, Rest of MEA)
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About the report:
The market is analyzed based on value (USD Billion). All the segments have been analyzed on a worldwide, regional, and country basis. The study includes the analysis of more than 30 countries for each part. The report analyses driving factors, opportunities, restraints, and challenges to gain critical market insight. The study includes Porter’s five forces model, attractiveness analysis, Product analysis, supply and demand analysis, competitor position grid analysis, distribution, and marketing channels analysis.
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