Corrugated Board Market Analysis Report By Flute Type, By Board Style, By Region And Segment Forecasts From 2021 To 2028

Synopsis

The global corrugated board market was prized by USD 90.79 billion in 2020. It is estimated to witness 6.5% CAGR from 2021 to 2028.

Drivers

Increasing requirement for biodegradable packing resolutions in addition to growing necessities of packing the material, within e-commerce companies, are the factors expected to propel the enlargement of the market for corrugated board.

The corrugated boards are manufactured from pulp & paper. These are extremely eco-friendly than plastic sourced packing materials. The fluting means existing in the corrugated board performs like a shock absorber, in this manner, defending parceled merchandises from outside shock. These containers are capable to resist greater stress, in which diverse thicknesses as well as coatings of the flutes offer benefits, like cushioning, to defend wrap up goods.

The goods manufactured using corrugated boards discovers purposes in a number of end-use businesses, for example, healthcare, food packaging, electronics, and food service. Several food processing and manufacturing companies make use of corrugated boards to wrap foodstuffs, for example, fruits, snacks, meat, Ready-to-Eat (RTE) meals, and others.

The companies providing diverse food services moreover make use of corrugated board goods designed for packing or serving mealtime. Such as, corrugated boxes utilized in pizza wrapping are increasing grip between restaurant chains. The fashion of online transactions is expected to increase the enlargement of the corrugated board market, by means of the increasing necessity for e-commerce packing.

Restraints

The short of toughness of paper sourced corrugated boards above other packing alternatives, for example plastics, will restrict the expansion of the market. So, the companies are concentrating to build on innovative products, which are having greater quality and capable of fulfilling the various demands of the clients.

Flute Type Insight

In 2020, C-flute retained the maximum 29.4% revenue share of the corrugated board market. Normally, it is utilized for the automobile products, delivery cases, furniture and packing of glass products.

A-flute contain thickness of nearly 5 mm which offers opposition to lateral crush, and a superior cushioning result, to parceled merchandises. Greater thickness facilitates stacking along with the capacity to resist pressure; by this means avoid twisting as well as additional damage. So, the A-flute section is likely to speedily develop, during the forecast period.

This flute is having slim coating of corrugating medium; it is a micro flute, known as E-flute. A lesser thickness of 1/16th inch, furthermore decreases the room necessary for its storing, moreover a horizontal formation permits best quality printing on its surface.
The thickness of F-flutes, is lesser than E-flute. It permits abridged use of paper fiber, necessary for the creation of a stiff package. It assists to reduce solid garbage.

Board Style Insight

The single-wall board style sector detained the major, more than 38.0% revenue share of the corrugated board market, in 2020. It can be utilized like a supplemental defensive substance, such as partition or pad, a divider, within an outer casing.

These types of board variety permit effortless printing, in which diverse coatings can also be put on its exterior. It decreases the mass of the boxes, thus dropping the delivery expenses. Consequently, the sector is likely to record the highest CAGR, for the duration of the forecast.

Single-face boards are moreover utilized like an internal packing material to maintain the specific substances, detached in external casing and present additional security to the parceled merchandise. As a result of the existence of a single fluted medium, connected to the linerboard, single-face boards contain comparatively lesser sturdiness as contrast to the additional forms.

Double-wall boards are utilized for strengthening as well as stacking functions and for extrication fanfold. Triple-wall corrugated board having three corrugating means is able to bear up greater mechanical pressure because of the extra coatings of fluted paper. Hence, it is utilized in the wrapping as well as transport of huge products.

Regional Insight

In 2020, Asia Pacific held 37.0% revenue share and led the global corrugated board market. Fast urban development in extremely inhabited nations for example, Indonesia, China, and India, steers the demand for packaging goods. Rising consciousness regarding the surroundings is anticipated to give rise to the augmented demand for greener packing resolutions, pushing the expansion of the market.

Government proposals to forbid plastic packing in numerous Asian nations are, furthermore, anticipated to step up the utilization of the product. In terms of revenue, it is projected to be the highest rising local market, during the forecast period.

A growth in the demand for personal care & beauty products, electronic merchandises, home care products, and automobile parts, from global as well as national markets, is likely to stimulate the demand for corrugated boxes, thus powering the enlargement of the market for corrugated board. So, the rising grip of the manufacturing companies from Asia Pacific section, in the packing of diverse goods, is likely to boost expansion of the market.

The rising development of digitization, in North America, together with growing use of health & wellness-related products, electronic substances, and automobile products is expected to augment demand for their packing. Policies about the safety of the environment together with the increasing necessity for quickly disposable and easy-to-handle packing resolutions, within the region, are estimated to push the demand for the product.

Europe held above 23.0% share of general quantity, in 2020. The enlargement of this market can be credited to the extensive range of the product function in the local industries of electronics and processed foodstuff.

As stated by the European Federation of Corrugated Board Manufacturers (Fefco) Annual Statistics 2019, almost 26.8% of the entire consignment of corrugated board was taken over by the processed food division, in Italy. It was tracked by FMCG 6.2%, dairy products by 10.0% and beverages by 11.4%.

Corrugated boxes offer a clean way out for the transport of the commodities at lengthy distances. Hence, mainly it is utilized for the foodstuffs, most likely to spoil or contagion.

Companies

The global manufacturing companies are implementing a variety of policies for example, development of new products, and mergers & acquisitions, to enlarge their range of the products as well as make stronger their attendance in the market.

The market is extremely disjointed, which has augmented the contest between the companies. Therefore, the companies are concentrating on associated services, along with the interrelated machinery resolutions, to get a reasonable benefit plus fulfill the particular necessities of the customers.

Some of the companies for corrugated board market are:

    • Mondi
    • Smurfit Kappa
    • Stora Enso
    • West Rock Company
    • International Paper
    • DS Smith
    • Port Townsend Paper Company
    • Oji Holdings Corporation
    • Packaging Corporation of America
    • Georgia-Pacific

Report Scope 

Segments Covered in the Report

This report forecasts revenue growth at the global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2017 to 2028. For the purpose of this study, Million Insights has segmented the global corrugated board market report on the basis of flute type, board style, and region:

• Flute Type Outlook (Volume, Million Tons; Revenue, USD Million, 2017 - 2028)
    • A-Flute
    • B-Flute
    • C-Flute
    • E-Flute
    • F-Flute
    • Others

• Board Style Outlook (Volume, Million Tons; Revenue, USD Million, 2017 - 2028)
    • Single Face
    • Single Wall
    • Double Wall
    • Triple Wall

• Regional Outlook (Volume, Million Tons; Revenue, USD Million, 2017 - 2028)
    • North America
        • U.S.
        • Canada
        • Mexico
    • Europe
        • U.K.
        • Germany
        • France
        • Italy
        • Spain
    • Asia Pacific
        • China
        • Japan
        • India
        • South Korea
    • Central & South America (CSA)
        • Brazil
    • Middle East & Africa (MEA)
        • South Africa