"The global corrugated boards market size reached US$ 134.7 billion in 2023. Looking forward, Reports and Insights expects the market to reach US$ 243.5 billion in 2032, exhibiting a growth rate (CAGR) of 6.8% during 2024-2032."
Corrugated boards, also known as corrugated cardboard or corrugated fiberboard, serve as a versatile packaging material widely used in various industries.
These boards provide strength, durability, and protection to products during shipping, handling, and storage, and consist of a fluted inner layer sandwiched between two flat outer layers, forming a sturdy structure that can withstand compression and impact.
Corrugated boards are essential in the packaging industry due to features such as lightweight, cost-effectiveness, and recyclability. These are used for packaging a wide range of products, including electronics, food and beverages, pharmaceuticals, automotive parts, and e-commerce shipments. Cushioning properties and structural integrity of the boards help prevent damage and ensure safe transport of goods.
Factors driving demand and preference for corrugated boards include increasing emprises on sustainable packaging solutions leading to shift towards corrugated boards, as these are made from renewable and recyclable materials. In addition, growth of e-commerce and online retail is driving demand for corrugated boards for shipping purposes. Versatility of corrugated boards, which can be customized in terms of size, shape, and printing, further enhances product use in different industries.
Moreover, growing focus on product branding and visual appeal is leading to use of high-quality printing on corrugated boards, making these an effective marketing tool. Ability of the boards to withstand stacking and provide protection during transit is leading to popularity of the product in the logistics and supply chain sector.
Corrugated Boards Market Report Overview:
The global corrugated boards market research report provides comprehensive insights into driving factors, restraints, opportunities, and trends, with provision of in-depth supporting information, data, and statistics and actionable insights. Though covered and provided extensively across the report, the data and information format are simple, yet dynamic in order to ensure ease of reading and understanding, as well as presenting and maximizing leverage and use.
Revenues and market share are provided in detail for previous years in order to showcase the evidence upon which our estimations and forecasts are based. Revenue growth rates and differences, as well as comparisons and relatable data are provided to further support all findings. Data points are provided for each year – from historical to end of forecast period – and this format is followed for each segment region and respective countries, as well as sub-segments and others.
Vital details of major companies in the market are provided in the company profile section of the report. Cover includes financials, recent developments, research & development, strategies, product launches, agreements, expansion, mergers & acquisitions, and others.
The global corrugated boards market research report is segmented on basis of material, flute type, board style, end-use industry, and regions and countries. Regional segmentation includes North America (United States and Canada); Europe (Germany, United Kingdom, France, Italy, Spain, Rest of Europe); Asia Pacific (China, India, Japan, South Korea, Rest of Asia Pacific); Latin America (Brazil, Mexico, Argentina); Middle East & Africa (Saudi Arabia, South Africa, United Arab Emirates, Israel).
Corrugated Boards Market Trends and Drivers:
E-commerce Expansion: Rapid growth of e-commerce sector globally is boosting demand for corrugated boards. Increasing popularity of online shopping, is resulting in higher need for secure and reliable packaging solutions, making corrugated boards a preferred choice due to protective and lightweight nature.
Sustainable Packaging: Rising awareness of environmental concerns is led to a growing preference for sustainable packaging materials. Corrugated boards, being made from recycled paper and being recyclable themselves, align with the sustainability goals of many businesses and consumers. This factor is positively impacted the market growth as companies seek eco-friendly packaging solutions.
Customization and Branding: Corrugated boards offer flexibility in terms of size, shape, and printing capabilities. This enables businesses to customize packaging to meet their branding requirements and enhance visual appeal. The ability to showcase logos, product information, and attractive designs on corrugated boards is created a positive impact on market revenue growth.
Product Protection and Safety: Corrugated boards provide excellent cushioning and shock resistance, making them ideal for protecting products during transportation and storage. As industries strive to ensure the safety and integrity of their goods, the demand for reliable packaging materials like corrugated boards is increased.
Emerging Markets: The growing industrialization and economic development in emerging markets, particularly in Asia Pacific and Latin America, have created substantial opportunities for the corrugated boards market. These regions witness increased manufacturing activities, infrastructure development, and a rising consumer base, driving the demand for packaging materials like corrugated boards.
What Factors Are Restraining Growth of the Corrugated Boards Market?
Fluctuating Raw Material Prices: Cost of raw materials, such as paper and adhesive, used in manufacturing of corrugated boards, can be volatile. Fluctuations in raw material prices can directly affect the production costs for manufacturers, leading to potential margin pressures and reduced profitability.
Substitutes and Alternative Packaging Solutions: Availability of alternative packaging solutions, such as plastic packaging or foam-based materials, is a factor that could challenge corrugated boards manufacturers to attain market share. Some industries and businesses may opt for these alternatives due to specific packaging requirements or cost considerations, which can hamper corrugated board market demand.
Environmental Regulations and Sustainability Concerns: While corrugated boards are considered a sustainable packaging option, stringent environmental regulations and evolving sustainability standards can impact market revenue growth negatively. Compliance with these regulations and need to continually improve sustainability practices can increase production costs and hamper market revenue growth.
Impact of Digitalization: Increasing digitalization and E-commerce has transformed the packaging landscape in the recent years. Some products and industries are shifting towards digital platforms, reducing the need for physical packaging. This can negatively impact demand for corrugated boards in certain sectors.
What are the Opportunities for Leading Corrugated Boards Manufacturers?
Growing E-commerce Industry: Rapid growth of the E-commerce sector, is resulting in significant demand for packaging materials, including corrugated boards. As more consumers prefer to shop on E-commerce platforms, there is a need for sturdy and protective packaging solutions to ensure safe delivery of goods. This is creating revenue opportunities for corrugated boards manufacturers to cater to the e-commerce market and expand their customer base.
Sustainable Packaging Solutions: Corrugated boards are considered an eco-friendly packaging option due to recyclability and biodegradability features. Preference for environmentally friendly packaging solutions is growing, as sustainability is becoming a key focus for consumers and businesses. Corrugated boards manufacturers can capitalize on this by offering sustainable packaging options and promoting environmental benefits of the products.
Innovation in Packaging Design: Manufacturers can develop customized and creative packaging solutions that cater to specific needs and branding requirements of different industries. Companies can differentiate their products from competitors in the market and attract customers by offering unique and visually appealing packaging designs.
Expansion into Emerging Markets: Emerging countries, especially in Asia Pacific and Latin America, are registering rapid industrialization and urbanization. Tapping into these untapped markets for corrugated boards, can aid companies in increasing customer base, creating demand for their packaging materials in parallel to rapidly growing industries and infrastructure development in these regions. Expanding operations and establishing a strong presence in these markets can create new revenue opportunities for companies.
Technological Advancements: Continuous advancements in technology are enabling development of high-quality and efficient corrugated boards manufacturing processes. Automation, digital printing, and advanced packaging solutions are improving production capabilities and expanding possibilities for customization. Adopting technological advancements can help companies streamline operations, enhance product quality, and meet the evolving demands of customers.
What are the factors driving the corrugated boards market in North America region?
North America market is expected to account for significantly large revenue share in the global corrugated boards market during the forecast period, due to strong demand for corrugated boards in countries such as the United States and Canada. Revenue growth of the market in this region is driven by factors such as growth of the E-commerce industry, consumer preference for sustainable packaging, need for efficient and reliable packaging solutions, government initiatives promoting recycling and eco-friendly packaging.
What generates corrugated boards demand in Europe?
Europe market is expected to account for substantially large revenue share in the global market during the forecast period, due to demand for corrugated boards in Europe, especially in countries such as Germany, France, and the United Kingdom, robust manufacturing sector, high focus on sustainable packaging, and rising online retail. In addition, revenue growth of the market in this region is driven by ongoing growth of various industries that require corrugated boards, technological advancements in packaging, and government initiatives promoting circular economy principles.
What are the factors contributing to the significance of Asia Pacific corrugated boards market?
Asia Pacific market is expected to register significantly high revenue growth rate in the global market during the forecast period, owing to significant demand for corrugated boards in Asia Pacific, particularly in countries such as China, India, and Japan. Increasing population, rapid industrialization, and booming e-commerce sector contribute to revenue growth of the market in this region. Consumer preference for cost-effective and sustainable packaging options is driving product demand, and government initiatives are aiming at enhancing packaging standards and waste management. These factors are expected to support revenue growth of the market in this region.
What are the aspects that are driving the corrugated boards sales in Latin America?
Latin America market is expected to account for moderate revenue share in the global market during the forecast period. This can be attributable to growing demand for corrugated boards, increasing urbanization, growth of various industries, and increasing middle class population. Rising preference for quality packaging, along with need for efficient logistics and transportation is driving revenue growth of the market in this region. Government initiatives to promote sustainable packaging and support the manufacturing sector in countries such as Brazil, Mexico, and Argentina further contribute to revenue growth of the market in this region.
What is the stance on corrugated boards market in Middle East and Africa?
Middle East & Africa market is expected to register steady revenue growth rate during the forecast period, due to steady demand for corrugated boards in countries in the Middle East & Africa, including the United Arab Emirates, Saudi Arabia, and South Africa. Revenue growth of the market in this region is driven by factors such as growth of industries including retail, food & beverage, and pharmaceuticals. In addition, infrastructure developments, increasing consumer awareness about sustainable packaging, and government initiatives are expected to support revenue growth of the market in this region.
Leading Corrugated Boards Manufacturers & Competitive Landscape:
The global corrugated boards market features a landscape with several key players operating in the industry. These companies strive to capture a significant market share by offering a wide range of corrugated board products and solutions. They focus on product innovation, technological advancements, and efficient manufacturing processes to meet the evolving needs of customers. The competitive landscape is characterized by intense competition, with companies constantly seeking to differentiate themselves through quality, cost-effectiveness, and sustainability. Mergers, acquisitions, partnerships, and strategic collaborations are common strategies employed by these companies to enhance their market position and drive revenue growth.
- International Paper Company
- WestRock Company
- Smurfit Kappa Group
- DS Smith Plc
- Packaging Corporation of America
- Mondi Group
- Georgia-Pacific LLC
- Nine Dragons Paper (Holdings) Limited
- Oji Holdings Corporation
- Rengo Co., Ltd.
- Lee & Man Paper Manufacturing Ltd.
- Pratt Industries, Inc.
- Svenska Cellulosa Aktiebolaget (SCA)
- Stora Enso Oyj
- Huhtamaki Oyj
Market size available for the years
Compound Annual Growth Rate (CAGR)
Material, Flute Type, Board Style, End-User Industry and Region
North America: The U.S. & Canada
Latin America: Brazil, Mexico, Argentina, & Rest of Latin America
Asia Pacific: China, India, Japan, Australia & New Zealand, South Korea, ASEAN, & Rest of Asia Pacific
Europe: Germany, The U.K., France, Spain, Italy, Russia, Poland, BENELUX, NORDIC, & Rest of Europe
The Middle East & Africa: Saudi Arabia, United Arab Emirates, South Africa, Egypt, Israel, and Rest of MEA
Fastest Growing Country in Europe
Largest Market in Asia Pacific
International Paper Company, WestRock Company, Smurfit Kappa Group, DS Smith Plc, Packaging Corporation of America, Mondi Group, Georgia-Pacific LLC, Nine Dragons Paper (Holdings) Limited, Oji Holdings Corporation, Rengo Co., Ltd., Lee & Man Paper Manufacturing Ltd., Pratt Industries, Inc., Svenska Cellulosa Aktiebolaget (SCA), Stora Enso Oyj, Huhtamaki Oyj
- Kraft Paper
- Recycled Paper
By Flute Type:
By Board Style:
- Single Face
- Single Wall
- Double Wall
- Triple Wall
By End-Use Industry:
- Food & Beverage
- E-commerce & Logistics
- Electrical & Electronics
Market Segmentation By Region:
- United States
- United Kingdom
- Rest of Europe
- South Korea
- Rest of Asia Pacific
Middle East & Africa
- Saudi Arabia
- South Africa
- United Arab Emirates
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