Market Overview
Corrugated and paperboard boxes are used in the packaging and transportation of a wide variety of products and have become immensely important in recent years due to the rapid growth of the ecommerce industry. The corrugated and paperboard boxes market has benefitted from several favorable properties of the boxes, one of them being their ability to be molded into almost any shape desirable. This has made them utilizable in the packaging of a wide range of products, leading to their growing demand across the globe in a number of industries.
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The rapid growth of the ecommerce industry is likely to remain a major driving factor for the global corrugated and paperboard boxes market, as the ecommerce industry needs corrugated and paperboard boxes for transporting and storing the wide variety of products it handles. Bans on plastic packaging in several regions across the world are also likely to aid the growth of the global corrugated and paperboard boxes market, as they present an alternative to plastic packaging that is environment-friendly and readily recyclable.
Key Players
Some of The key players in the global corrugated and paperboard boxes market are Mondi Group t(Austria), Georgia-Pacific Corporation (U.S.), International Paper Company (U.S.), Smurfit Kappa Group (Ireland), Graphic Packaging International, Inc. (U.S.), Cascades Inc. (Canada), DS Smith Plc (U.K.), Klabin S.A.(Brazil), Oji Holding Corporation (Japan), Nine Dragons Paper(Holding) Limited (China), Packaging Corporation of America (U.S.), Nippon Paper Industries Co. Ltd (Japan), Orora Packaging Australia Pty Ltd (Australia), Rengo Co., Ltd. (Japan), and WestRock (U.S.)
Corrugated and Paperboard Boxes Market Segmental Analysis
The global corrugated and paperboard boxes market is divided by product type into corrugated and solid fiber boxes, folding paperboard boxes, set-up paperboard boxes, and others. Corrugated and solid fiber boxes are the dominant segment in the global corrugated and paperboard boxes market due to their durability, which makes them the prime candidate for long-distance transportation of a wide variety of products. The diversity of applications of corrugated and solid fiber boxes is expected to be crucial in enabling solid market growth of the same over the forecast period.
Based on application, the global corrugated and paperboard boxes market is segmented into durable goods, paper and publishing, food and beverages, chemicals, and others. Durable goods are likely to be the major application of corrugated and paperboard boxes in the forecast period due to the steady growth of the ecommerce and electronics industry, which has led to a steady rise in demand for the transportation of a wide variety of durable goods, including electronics items and home appliances.
Regional Analysis
Asia Pacific (APAC) is likely to be the dominant regional market for corrugated and paperboard boxes over the forecast period. Rapid growth of the ecommerce industry in the developing economies in APAC is likely to be a major driver for the corrugated and paperboard boxes market in the region. Growing disposable income of consumers has allowed for steady growth of the electronics industry in APAC, leading to a rise in the demand for corrugated and paperboard boxes.
North America is another leading regional market for corrugated and paperboard boxes due to the widespread presence of the ecommerce industry in the region. Europe is also expected to be a major market for corrugated and paperboard boxes over the forecast period due to the bans on plastic packaging in many countries in the region, which have given rise to a demand for alternative packaging materials.
Market Segmentation
Global corrugated and paperboard boxes market is segmented based on material, product, application, and region. Based on the material, the market is segmented into paperboard, adhesives, inks, waxes, and others. Among these, the paperboard is projected to dominate the corrugated and paperboard boxes market till 2023 owing to the rising implementation of paperboard packaging across all the end use applications. Based on the product, the market is segmented into corrugated & solid fiber boxes, set-up paperboard boxes, folding paperboard boxes, and others. The corrugated & solid fiber boxes dominated the market in 2016 and are projected to be the fastest-growing product over the review period. A wide applications of corrugated & solid fiber boxes across all the major goods packaging with its high benefits for distance transportation make them an ideal product for packaging. Based on the application, the market is segmented into durable goods, food & beverages, paper & publishing, chemicals, and others. The durable goods segment dominated the market in 2016 and is projected to be the fastest-growing application over the next five years, as a result of the rise in the global sale of electronic goods, home appliances, and other electronic goods, which has resulted into the market evolution of durable goods.
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