NEW YORK, Jan. 23, 2023 (GLOBE NEWSWIRE) -- A recent IndexBox report on the global corrugated paper market offers some interesting insights.
Corrugated Paper Market Overview
The global corrugated paper and paperboard market was valued at $53B in 2022 and is expected to reach $67B by 2030, growing at a CAGR of 3.0% during the forecast period (2022-2030). The growing demand for packaged goods and e-commerce is one of the major factors driving the growth of the global corrugated paper market. The increasing number of online retail stores has resulted in a significant increase in the use of corrugated packaging, as it provides good protection for products during transportation. In addition, corrugated paper is also recyclable, which makes it an environmentally friendly option.
Corrugated paper is a type of paperboard that is made up of two or more layers of flat sheet paper, with the middle layer being corrugated. It is widely used for packaging purposes due to its high strength and durability.
View a sample report and free data online
The Asia-Pacific region is expected to be the largest market for corrugated paper during the forecast period due to rapid growth in the e-commerce industry and increased demand for corrugated paper packaging from China, India, and Japan. In addition, the rising disposable incomes and changing lifestyles of consumers are also fueling the growth of the market in this region.
Market Segmentation by End-Use
There are three primary end users for corrugated paper: packaging, construction, and retail. Each of these industries has different needs and requirements for paper, which drives market segmentation.
The packaging industry is the largest consumer of corrugated paper, accounting for over 50% of total demand. This sector includes food and beverage packaging, as well as industrial applications such as shipping containers.
The construction industry is the second largest consumer of corrugated paper, using it for temporary walls, flooring, and roofing.
The retail sector is the most minor consumer of corrugated paper, but it still accounts for a significant portion of demand. This sector includes things like store displays and point-of-sale signage.
Environmental Issues and Sustainability
One way that the corrugated paper industry is becoming more sustainable is by using recycled materials in its products. Recycled paper reduces the amount of waste produced and requires less energy than virgin paper. This helps to reduce the environmental impact of the industry as a whole.
In order to ensure a steady supply of raw materials, many corrugated paper manufacturers are working with suppliers who practice sustainable forestry. This means that trees are harvested in a way that ensures they will regrow, and wildlife habitat is protected. These practices help preserve our forests and ensure that they will be around for generations.
Another way that the corrugated paper industry is becoming more sustainable is by investing in cleaner production processes. This includes using alternative energy sources, such as wind or solar power, to generate the electricity needed for production. It also involves investing in new technologies that help to reduce emissions and waste. By doing this, the industry is helping to protect our environment while still meeting the demands of consumers.
About IndexBox
IndexBox is a market research firm developing an AI-driven market intelligence platform that helps business analysts find actionable insights and make data-driven decisions. The platform provides data on consumption, production, trade, and prices for more than 10K+ different products across 200 countries.
Companies Mentioned in the Report
International Paper Company, Nippon Paper Industries Co., Ltd., Oji Holdings Corporation, Smurfit Kappa Group plc., WestRock Company, Mayr-Melnhof Karton, Georgia-Pacific, Mondi Plc., Metsä Board Corporation
Sources
World – Corrugated Paper and Paperboard - Market Analysis, Forecast, Size, Trends and Insights
EU - Corrugated Paper and Paperboard - Market Analysis, Forecast, Size, Trends and Insights
Asia - Corrugated Paper and Paperboard - Market Analysis, Forecast, Size, Trends and Insights
U.S. - Corrugated Paper and Paperboard - Market Analysis, Forecast, Size, Trends and Insights
