NEWARK, Del, Nov. 09, 2022 (GLOBE NEWSWIRE) -- The global corrugated automotive packaging market is worth US$ 1.8 Bn as of now and is expected to reach US$ 2.7 Bn by the year 2030 at a CAGR of 4.4% between 2022 and 2030.
Corrugated packaging comes across as being recyclable and eco-friendly. The key market participants are, in fact, seeing corrugated box as one of the most environmentally-friendly and captivating friendly products, that too, with lower management costs. This factor is expected to keep the momentum going for corrugated automotive packaging market.
Dependable, corrugated packaging does offer security and storage to pharmaceutical products like tubes, vial, and the other fragile products. Recycling does have its advantages. Plus, as corrugated board packaging keeps moisture at bay along with handling long shipping times, it’s being used in the form of tertiary or secondary packaging. Various processed foodstuff like meat products, bread, and the others that are perishable need such packaging materials for one-time usage.
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Shipments on the part of corrugated automotive packaging products have witnessed an increase in demand since the last few years due to growing penetration of the OEMs supply chain and also the automotive aftermarket at the commercial scale.
The automotive industry is also undergoing electrification at an alarming rate. With growing demand for the autonomous vehicles, stern mandates regarding automotive packaging are in force. Also, personalized packaging solutions are preferred for electrical components and sensitive sensors. These altering packaging trends are bound to help the corrugated automotive packaging market grow at an astounding rate going forward.
At the same time, higher costs linked with providing personalized solutions are bound to restrain the corrugated automotive packaging market. Future Market Insights has walked through these nitty-gritties with insights in its latest market study entitled ‘Corrugated Automotive Packaging Market’.
Key Takeaways from Corrugated Automotive Packaging Market
- East Asia holds more than 25% of the overall market share and the status quo is expected to remain the same even in the forecast period. This could be attributed to the fact that China is holding the baton of corrugated automotive packaging market.
- South Asia holds more than 20% of the overall market share with countries like Indonesia, India, and Thailand showing their dominance.
- Europe holds over 15% of the market share with Germany and the UK ruling the roost.
- North America holds a significant market share with the US witnessing notable investments to develop sustainable solutions by non-government organizations as well as governments.
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Competitive Landscape
- Franklin Mountain Capital, in January 2022, did announce launching Franklin Mountain Packaging, which would be holding the responsibility of manufacturing corrugated sheets of conventional flute along with micro-flutes and also make high-class digital printing feasible.
- International Paper brings in fresh fruits to the remote places, provides protection to the priceless objects, displays newer technologies, and takes care of the goods improving lives of the customers worldwide.
- Smurfit Kappa Group, in May 2022, came up with an innovative and a sustainable water-resistant paper.
“Easy handling of corrugated automotive packaging is expected to drive the market for corrugated automotive packaging in the forecast period”, says an analyst from Future Market Insights.
What’s with the gist of Corrugated Automotive Packaging Market?
- The research study is based on product type (corrugated automotive boxes, corrugated automotive crates, corrugated automotive trays, corrugated automotive partitions, corrugated automotive pallets, corrugated automotive octabins, and corrugated automotive PoP displays), by layer type (single faced corrugated automotive packaging, single wall corrugated automotive packaging, double wall corrugated automotive packaging, and triple wall corrugated automotive packaging), and by automotive part (corrugated packaging for automotive filters, corrugated packaging for batteries, corrugated packaging for engine components, corrugated packaging for lighting components, corrugated packaging for underbody components, corrugated packaging for electrical components, and corrugated packaging for cooling systems).
- With automotive vertical witnessing an increasing adoption of the electronic and electrical components of late, the popularity of EVs (electric vehicles) is bound to soar in the forecast period. This factor is expected to drive the corrugated automotive packaging market.
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Key Segments of Corrugated Automotive Packaging Industry Survey
Corrugated Automotive Packaging Market By Product Type :
- Corrugated Automotive Boxes
- Corrugated Automotive Crates
- Corrugated Automotive Trays
- Corrugated Automotive Partitions
- Corrugated Automotive Pallets
- Corrugated Automotive Octabins
- Corrugated Automotive PoP Displays
Corrugated Automotive Packaging Market By Layer Type :
- Single Face Corrugated Automotive Packaging
- Single Wall Corrugated Automotive Packaging
- Double Wall Corrugated Automotive Packaging
- Triple Wall Corrugated Automotive Packaging
Corrugated Automotive Packaging Market By Automotive Part :
- Corrugated Packaging for Automotive Filters
- Corrugated Packaging for Batteries
- Corrugated Packaging for Engine Components
- Corrugated Packaging for Lighting Components
- Corrugated Packaging for Underbody Components
- Corrugated Packaging for Electrical Components
- Corrugated Packaging for Cooling Systems
Table of Content
1. Executive Summary
1.1. Global Market Outlook
1.2. Market Analysis
1.3. Analysis and Recommendations
2. Market Overview
2.1. Market Coverage
2.2. Market Definition
3. Key Market Trends
3.1. Key Trends Impacting the Market
3.2. Product Innovation Trends
4. Key Success Factors
4.1. Product Adoption Analysis
4.2. Product USPs / Features
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