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Plastic Corrugated Packaging Market Size & Share, By Packaging Type (Folding Boxes, Trays, Crates, Inserts and Dividers, Bins and Racks), Material (Polypropylene (PP), Polyethylene (PE), Polyethylene Terephthalate (PET), Polycarbonate (PC))), End-use Industry (Food Beverages, Agriculture, Healthcare, Automotive, Electrical Electronics), Regional Forecast, Industry Players, Growth Statistics Report 2024-2032

Report ID: FBI 7261

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Published Date: Sep-2024

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Format : PDF, Excel

Market Outlook:

Plastic Corrugated Packaging Market crossed USD 17.02 billion in 2023 and is expected to reach USD 35.11 billion by end of the year 2032, witnessing more than 8.4% CAGR between 2024 and 2032.

Base Year Value (2023)

USD 17.02 billion

19-23 x.x %
24-32 x.x %

CAGR (2024-2032)

8.4%

19-23 x.x %
24-32 x.x %

Forecast Year Value (2032)

USD 35.11 billion

19-23 x.x %
24-32 x.x %
Plastic Corrugated Packaging Market

Historical Data Period

2019-2023

Plastic Corrugated Packaging Market

Largest Region

North America

Plastic Corrugated Packaging Market

Forecast Period

2024-2032

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Market Dynamics:

Growth Drivers & Opportunity:

One of the primary growth drivers for the Plastic Corrugated Packaging Market is the increasing demand for sustainable packaging solutions. As businesses and consumers become more environmentally conscious, there is a growing preference for packaging materials that are lightweight, durable, and recyclable. Plastic corrugated packaging offers a viable alternative to traditional materials, providing numerous benefits such as reduced waste and improved supply chain efficiency. This shift towards sustainable practices not only enhances brand image but also aligns with global sustainability goals, potentially leading to increased adoption of plastic corrugated solutions across various industries.

Another significant growth driver is the rise in e-commerce and online retailing. The exponential growth of online shopping has resulted in heightened demand for efficient and safe packaging materials that protect goods during transit. Plastic corrugated packaging is particularly well-suited for this purpose due to its resilience and ability to withstand rough handling. As e-commerce continues to expand, businesses will increasingly seek out packaging options that can enhance the customer experience, streamline logistics, and minimize product damage, further fueling the growth of the plastic corrugated packaging market.

Technological advancements in manufacturing processes also serve as a key driver for the market. Innovations in extrusion technology and mold design have led to the production of more versatile and customizable plastic corrugated products. Manufacturers can now tailor materials to meet specific requirements such as weight, thickness, and barrier properties, making plastic corrugated packaging suitable for a wide range of applications, from food and beverages to electronics. These advancements not only enhance product performance but also enable companies to differentiate themselves in a competitive landscape, spurring market growth.

Report Scope

Report CoverageDetails
Segments CoveredPlastic Corrugated Packaging Packaging Type, Material, Polyethylene, Polyethylene Terephthalate, Polycarbonate)), End-use Industry
Regions Covered• North America (United States, Canada, Mexico) • Europe (Germany, United Kingdom, France, Italy, Spain, Rest of Europe) • Asia Pacific (China, Japan, South Korea, Singapore, India, Australia, Rest of APAC) • Latin America (Argentina, Brazil, Rest of South America) • Middle East & Africa (GCC, South Africa, Rest of MEA)
Company ProfiledDS Smith Plc, Inteplast Group, Primex Plastics, Coroplast, SINOYQX, Tianfule Plastic, KARTON S.p.A., Qingdao Tianfule Plastic Co.., Supreme Plastic, CLPG, NEFAB, Corrugated Plastic Solutions, Shanghai Qichang Plastic, Shish Industries Limited, Boxit

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Industry Restraints:

Despite its growth potential, the Plastic Corrugated Packaging Market faces certain restraints that could hinder its expansion. A primary challenge is the fluctuating price of raw materials, particularly petroleum-based plastics. Variations in crude oil prices can lead to uncertainty in material costs, which may deter manufacturers from investing in plastic corrugated solutions. This volatility can also affect pricing strategies, leading to higher costs for end-users and potentially lower demand for plastic corrugated products in price-sensitive markets.

Another significant restraint is the growing regulatory scrutiny regarding plastic use and waste management. As governments worldwide implement stricter regulations aimed at reducing plastic pollution and promoting recycling initiatives, manufacturers must adapt their practices to comply with these policies. This can result in increased operational costs and additional investment in sustainable practices, such as sourcing alternative materials or enhancing recycling capabilities. Such regulatory pressures may limit the growth opportunities for plastic corrugated packaging, as companies strive to balance compliance with profitability.

Regional Forecast:

Plastic Corrugated Packaging Market

Largest Region

North America

38% Market Share in 2023

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North America

The Plastic Corrugated Packaging Market in North America is driven by increased consumer demand for sustainable packaging solutions and the rapid growth of e-commerce. The U.S. dominates the market due to a strong presence of key manufacturers and a well-established retail sector. The region's focus on reducing environmental impact has led to a rise in the adoption of recyclable and reusable plastic corrugated products. Canada is also witnessing growth in this market, primarily fueled by the expanding food and beverage industry and the need for lightweight packaging solutions.

Asia Pacific

The Asia Pacific region, particularly countries like China, Japan, and South Korea, is experiencing significant growth in the Plastic Corrugated Packaging Market. China is the largest market in the region, benefiting from robust manufacturing activities and a booming export sector. The demand for lightweight and durable packaging solutions in logistics and transportation is propelling market growth. Japan's market is driven by technological advancements and an inclination towards innovative packaging designs to meet high consumer standards. South Korea is also contributing to market growth with increasing awareness of sustainable packaging practices and a strong retail sector.

Europe

In Europe, the Plastic Corrugated Packaging Market is characterized by stringent regulations on packaging waste and a growing emphasis on sustainability. The United Kingdom is seeing a shift towards eco-friendly packaging solutions, with businesses seeking to reduce their carbon footprints. Germany is one of the largest markets in Europe, supported by a strong manufacturing base and a focus on recycling and circular economy principles. France is experiencing growth driven by advancements in packaging technology and the increasing demand for versatile packaging options across various industries, including food and pharmaceuticals.

Report Coverage & Deliverables

Historical Statistics Growth Forecasts Latest Trends & Innovations Market Segmentation Regional Opportunities Competitive Landscape
Plastic Corrugated Packaging Market
Plastic Corrugated Packaging Market

Segmentation Analysis:

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In terms of segmentation, the global Plastic Corrugated Packaging market is analyzed on the basis of Plastic Corrugated Packaging Packaging Type, Material, Polyethylene, Polyethylene Terephthalate, Polycarbonate)), End-use Industry.

Plastic Corrugated Packaging Market Analysis

By Packaging Type

The plastic corrugated packaging market is diversified across various packaging types, including folding boxes, trays, crates, inserts and dividers, and bins and racks. Folding boxes are highly favored for their versatility and ability to provide sturdy protection for products while being lightweight. Trays and crates are predominantly utilized in the food and beverage industry, facilitating easier transportation and storage. Inserts and dividers play a crucial role in enhancing the organization and protection of goods, especially in industries such as automotive and electronics. Bins and racks are increasingly used in warehouse and logistics sectors for efficient space utilization and inventory management.

By Material

The material segment of the plastic corrugated packaging market is characterized by several types, primarily polypropylene (PP), polyethylene (PE), polyethylene terephthalate (PET), and polycarbonate (PC). Polypropylene is widely used due to its excellent chemical resistance and durability, making it suitable for various applications. Polyethylene remains popular for its flexibility and moisture resistance, often used in food packaging. PET is notable for its recyclability and clarity, appealing particularly in consumer goods packaging. Polycarbonate, although more costly, offers superior strength and transparency, making it a preferred choice for high-end applications.

By End-use Industry

In the end-use industry segment, the plastic corrugated packaging market spans food and beverages, agriculture, healthcare, automotive, and electrical electronics. The food and beverage industry is a major driver, with robust demand for hygienic and efficient packaging. Agricultural applications leverage plastic corrugated packaging for transporting fresh produce and minimizing spoilage. The healthcare sector values the lightweight and protective characteristics of these materials, particularly for medical devices and supplies. The automotive industry demands durable packaging solutions to safeguard components during transport. Lastly, the electrical and electronics sector requires protective packaging that mitigates the risk of static damage and physical harm to sensitive equipment, underpinning the importance of innovative and reliable plastic corrugated packaging solutions across all sectors.

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Competitive Landscape:

The competitive landscape of the Plastic Corrugated Packaging Market is characterized by a diverse range of players which include global giants and regional firms that compete on the basis of product innovation, pricing, and sustainability. As environmental concerns continue to shape consumer preferences, many companies are focusing on developing eco-friendly packaging solutions, enhancing their product offerings to include recycled materials. The market is also witnessing increased mergers and acquisitions, allowing companies to expand their capabilities and geographical reach. Furthermore, advancements in manufacturing technologies are enabling firms to improve production efficiency and product quality, creating a dynamic environment where collaboration and competition coalesce.

Top Market Players

1. Smurfit Kappa Group

2. DS Smith Plc

3. Georgia-Pacific LLC

4. International Paper Company

5. Pregis LLC

6. CorruPack

7. Menasha Packaging Company

8. SSW Packaging Group

9. Veritiv Corporation

10. CFB Packaging Ltd

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Plastic Corrugated Packaging Market Size & Share, ...

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