Corrugated Fiberboard Market Size Analysis
According to a recent survey conducted by ChemView Consulting, the Global Corrugated Fiberboard Market grew at a CAGR of 4.6% between 2017-2021 and is estimated to be US$ 84,632.1 Mn in 2022. Currently, the market is anticipated to grow at a CAGR of 5.3% and is expected to reach a valuation of US$ 1,41,846.6 Mn by 2032 end.
Corrugated fiberboard boxes are in high demand in the e-commerce, transportation, pharmaceutical, and food sectors due to their many advantages. Manufacturers are expanding their manufacturing capacities to meet the growing demand.
RISING IN THE PACKAGING INDUSTRY DRIVES THE MARKET FOR CORRUGATED FIBERBOARD
The packaging industry is continuously expanding and improving with time. It is important to consider the environmental, social, and health impact of products in the long term and in present times. An economically viable way of packaging raw materials has been created to maintain a healthy environmentally friendly environment. The positive impacts on the environment from packaging materials made from recycled materials are significant because they decrease the amount of material that needs to be disposed of during manufacturing and use less energy, water, and natural resources.
HIGH INVESTMENT COSTS HAMPER THE MARKET GROWTH
A high establishment cost of manufacturing units is a huge problem in the case of corrugated fiberboard. It limits the quantity of the product that can be produced, lowering its competitive edge. Corrugated fiberboard has low strength compared to other paper board products like corrugated paper, cardboard, and carton board. It also fails to provide a barrier against liquids and gases as metallic packaging boards do.
THE RISE IN THE E-COMMERCE SECTOR WILL CREATE MORE OPPORTUNITIES FOR THE MARKET
Due to the increasing number of online retail stores, the e-commerce industry is growing by leaps and bounds. E-commerce is not just limited to the product but also includes marketing and other support services like payment gateways. The government has set up many policies encouraging growth in this sector, including exemptions from taxes on goods and services purchased online. This article discusses how these factors have boosted the e-commerce industry’s growth rate.
The abrupt coronavirus outbreak has hurt the expansion of utility applications as the Corrugated Fiberboard installation declined in 2021. However, it is anticipated that the adoption of E-Commerce and, therefore, Corrugated Fiberboard will expand due to the growing installation of Corrugated Fiberboard systems in operational projects and the government’s focus on upgrading the E-commerce sector.
Market Segments Covered in Report
By Flute Type:
By Board Type:
By End Use:
By Region and Country:
Why are Combination Flutes projected to ensure the most revenue during the forecast period?
The Micro Flutessector with combination flutes currently has the largest market share for corrugated fiberboard in terms of flute type. It had a 25.9% market share in 2021, and it is anticipated to generate a 29.1% market share during the projected period. The segment is expected to grow due to the combined flutes’ high strength and thickness. For packaging large goods, double-wall combination flutes offer good stability. Combination flutes are also more solid and long-lasting than other flute types. These advantages are anticipated to increase demand for combination flutes by 2.1 times in the following ten years.
Why is the E-commerce Industry segment expected to expand the fastest during the forecast period?
In 2021, The e-commerce segment was expected to produce a share of almost 11.0% of these during the projected period. The feature is expected to be driven by the e-commerce sector’s rapid rise due to smartphone usage, high levels of convenience, and fantastic offers. Since packaging is crucial to the e-commerce sector, it is anticipated that this market will increase demand for corrugated fiberboards.
The regions analyzed for the market include North America, Europe, Latin America, Asia Pacific, Middle East, and Africa.
With many local and regional businesses, the global market for corrugated fiberboard is highly fragmented and competitive. Major players focus on mergers and acquisitions, expansions, collaborations, and partnerships to improve their market positions.
Some of the key developments that have taken place in the Corrugated Fiberboard Market include:
A list of some of the key suppliers present in the market are:
Report Coverage and Highlights
|Historical data available for||2017-2021|
|Market analysis||USD Million for Value and Tons for Volume, and CAGR from 2022 to 2032|
|Key regions covered||North America, Latin America, Europe, Asia-Pacific, Middle East, and Africa|
|Key countries covered||US, Canada, Brazil, Mexico, Germany, Italy, France, UK, Spain, Netherlands, Norway, Russia, China, Japan, South Korea, India, Indonesia, Thailand, Vietnam, Australia & New Zealand, Saudi Arabia, Turkey, UAE, South Africa, Nigeria, Egypt|
|Key segments covered||By Flute type, Board Type, End Use, and Region|
|Customization scope||Available upon Request|
|Pricing and purchase options||Available upon Request|
Market Size Data
Value Chain Analysis
North America: U.S., Canada
Latin America: Brazil, Mexico, Argentina, Central America, Rest of Latin America
Western Europe: Germany, Italy, France, UK, Spain, Poland, Romania, Rest of Western Europe
Eastern Europe: Russia & Belarus, Balkan Countries, Baltic Countries, Central Asia, Rest of Eastern Europe
Middle East & Africa: KSA, UAE, Turkey, Israel, Northern Africa, South Africa, Rest of Middle East & Africa
East Asia: China, Japan, South Korea
South Asia & Pacific: India, ASEAN, Australia & New Zealand, Rest of South Asia & Pacific
Why Choose CVC Market Research?;
In the forecast period between 2022 and 2032, the market is expected to grow at a CAGR of 5.3%.
The global corrugated fiberboard market is being driven by the growth of the e-commerce industry as well as advantages like sustainability and durability associated with corrugated fiberboards.
Major global Corrugated Fiberboard Market players are Georgia-Pacific, W.E. Roberts, Stora Enso, Nuttall Packaging, Oji Holdings Corporation, Corrugated Packaging Alliance, Fencor Packaging Group Limited, Durham Box, ABBE CORRUGATED, Board24, Smurfit Kappa, Mondi, Jaineeket Enterprises, Shanghai Lehui Packaging and Printing Co., Ltd.
Market growth limits the capital investment required to establish Corrugated Fiberboard systems.
The Asia Pacific region is expected to account for the largest market revenue share in the Global Corrugated Fiberboard market.
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