Corrugated Board Packaging Market: Introduction
Corrugated board packaging is a combination of two sheets of paper, otherwise, liners which are attached to an inner medium known as a flute. These are the three layers which are assembled to make a board structure which provides strength to the packaging box. These boxes have the capability to carry heavy weight, owing to their strong structure with the connected series of pieces. The global corrugated board packaging market is anticipated to grow at a noticeable CAGR over the projected period, majorly attributed to its lightweight properties coupled with the recyclable properties.
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The advancement in the corrugated board structures to decrease the paper grammages owing to the rise in the environmental concerns are driving the global corrugated board packaging market. Corrugated boards are biodegradable which contributes the least pollution to the environment. Furthermore, corrugated board packaging is frequently used in shipping products owing to its lightweight, cost effectiveness and versatility. Therefore, the rise in the production of corrugated board packaging would provide significant growth over the forecast period. According to Fibre Box Association, the total shipments in 2016 by corrugated board packaging market accounted around 376.4 billion square feet rising from 368.6 billion square feet in 2015. Thus, the year on year rise in the manufacturing and uses of corrugated packages would boost the corrugated board packaging market over the projected period.
Despite the numerous advantages, its low resistance to moisture is a deterring factor for the market. The material is highly absorbable; thus, it would make the corrugated board soft and pulpy when exposed to ambient moisture in the atmosphere.
By Component Type
Liner component segment held the major share in terms of volume owing to use of liner walls more than the flute, while considering double and triple liner walls boxes over the forecast period. The total consumption of liner and medium in the global market accounted for 31,238.7 (in thousand tones) in 2016, as per Fibre Box Association (FBA). Thus, the growing consumption of the components would propel the market in the coming years.
By Board Type
Single wall type is anticipated to dominate the market, attributed to its huge production due to low-cost manufacturing. Moreover, it is used to provide one extra layer to add strength to the existing packaged products. According to FBA, single wall corrugated board accounted for 90.4 % out of total production of board type in 2016 thereby, contributing a substantial revenue share in the corrugated board packaging market.
By End-use Industry
Consumer goods are anticipated to have the largest share of the market owing to the rise in the demand for packaging products such as clothes, cosmetics and others in the global market. To protect these goods from moisture and other damages during the shipments, the use of corrugated board packaging is widely used, thereby boosting the global market.
North America is anticipated to dominate the global market over the forecast period owing to its rising corrugated packaging demand in consumer goods and FMCG products that helps in keeping products safe and sound. Approximately, 376.4 billion square feet of materials such as liners and medium were used to manufacture corrugated boxes in 2016, in the U.S. In addition to this, the equated packages manufactured by the U.S. corrugated board producing companies were valued at around $38 billion, which included the shipment of clothes, food, and durable goods to the national and international customers in 2016.
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Numerous companies in the market are adopting strategic planning to sustain and to maintain their businesses in the global market. In 2018, De Jong packaging Holding (DJV) acquired a German company Gaster Wellpappe to strengthen the business operations. The leading players in the market are Stora Enso, TGI Packaging Pvt. Ltd, NEFAB, Sravan Corrugators (P) ltd., GWP Group, Corrugated Carton Products, and several others.
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