News

Jul 20, 2023

Corrugated Box Market Is Expected To Reach around USD 67.6 Billion in 2022, Grow At A CAGR Of 5.0 % During Forecast Period 2023 To 2030

Farmington, Jan. 10, 2023 (GLOBE NEWSWIRE) -- The Global Corrugated Box Market

Farmington, Jan. 10, 2023 (GLOBE NEWSWIRE) -- The Global Corrugated Box Market Size Was Estimated At USD 67.6 Billion In 2022 And Is Projected To Grow at a CAGR Of 5.0%. Boxes constructed of corrugated cardboard are disposable containers with three layers. They are lightweight, flexible, biodegradable, recyclable, and cost-effective, aiding in the transport of sensitive items. They remain intact when subjected to unfavourable conditions such as humidity and temperature fluctuations. Moreover, they reduce the risk of microbiological contamination and prolong the shelf life of items. Therefore, corrugated boxes are widely employed throughout industries to efficiently package products.

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Recent Developments:

In October 2021, Smurfit Kappa Group completed the acquisition of Verzuolo. With this acquisition, the company converted a PM9 machine into a state-of-the-art 661,387-ton recycled containerboard machine in 2019. It complements existing and strategically located operational facilities near the Port of Savona. This is expected to benefit the company and customer base.

In September 2021, Rengo Co., Ltd. announced that its joint venture in Vietnam, Vina Kraft Paper Co., Ltd., has chosen to build a new containerboard production base. Vietnam's total annual demand for containerboard exceeded 3 million tonnes in 2019, driven by continued foreign direct investment (mainly in the export sector) and expanding domestic consumption. Vina Kraft Paper is poised to firmly establish itself as the market leader in Vietnam's containerboard industry, with the new plant aimed at long-term growth and expansion. It is also expected to upgrade Vietnam's local integrated containerboard to a corrugated box production system.

Segmentation Analysis:

In the coming years, the sector of the market with the largest revenue share will be slotted boxes.

The sector of slotted boxes outperformed the market in terms of both size and value. Typically, they consist of a single sheet of corrugated board that has been sewed, taped, or glued together. After the blank, or tray, is cut and a folding aid is fitted, the boxes are shipped directly to the user. To assemble a box, the user must square it, place the item inside, and then seal the flaps. The product is aligned with the depth to provide sufficient loading strength. The slotted box is an extremely efficient product since it produces less waste during production. It is ideal for carrying a variety of items, including cups, mugs, and books, among others.

In the coming years, the largest market share in terms of revenue will be held by segments of linerboard.

In the coming years, the linerboard material segment will hold the greatest market share in terms of revenue. Kraft liner is composed of at least 80% virgin kraft pulp fibres and is utilised as the outer and middle layer of corrugated boxes due to its strength and resistance to water absorption. In the food and beverage, home and personal care, and other industries, high-quality color-printed corrugated boxes are frequently made with Kraft linerboard. Recycled linerboard, also known as test liner, is composed of less than eighty percent virgin kraft pulp fibres, which are also utilised for the outer and middle layers of corrugated board. However, because it contains more recycled fibres than kraft liner, it is weaker. Recycled linerboard is less expensive than kraft liner.

Water-Based Ink segments will dominate the market in the coming years.

The majority of the market consisted of water-based ink. On the market for printing ink, water-based ink was the most valued and widely utilised product. To create water-based inks, colloidal pigments or colours are combined with water-soluble resins or resin emulsions. Most water-based inks contain a greater proportion of solids, requiring less liquid to be extracted. Due to the nature of the water system's resins, a thin layer of ink is frequently applied. There are two varieties of water-based ink: pigment and dye. However, dye inks are not waterproof and will fade when exposed to UV radiation. Pigment inks are resistant to ultraviolet radiation and waterproof for a limited time.

Flexography Printing holds the largest market share.

Flexography is the most popular printing process on the market. Flexography is a simple and inexpensive printing technique that is frequently used to print packaging due to its many advantages. It is utilised to print simple designs and colours on a broad variety of packaging materials, including Corrugated Boxes, plastic containers, tapes, envelopes, and metal foils. Flexography printing is a sort of relief printing that transfers an image onto corrugated board using rubber or polymer plates, similar to an automated rubber stamp. Flexography was created so that it could be used on rough, hard surfaces, such as Corrugated Boxes. Flexography is a quick printing technique since the ink dries rapidly and has a low viscosity. Since corrugated boards are highly permeable, flexography can be used to print text or images with only one or two colours.

The food and beverage industry is the largest consumer of corrugated boxes.

The largest market end-use sector is food and drinks. Organic veggies, processed foods, and non-perishable commodities are some of the most important categories in the food and beverage sector. Packaging is required in the food and beverage business for storage, transport, and handling of products. Boxes made of corrugated cardboard are necessary for shipping fragile items, perishable goods, and processed foods. Since Corrugated Boxes do not react with anything, they are ideal for packaging, transporting, and storing food for an extended period of time. When packaging processed meals, it is essential to choose appropriate packaging materials that are also visually appealing and communicate that the item is safe. Therefore, Corrugated Boxes are utilised to package goods that are ready to eat.

Regional Outlook:

Asia-Pacific is anticipated to see the fastest growth rate from 2022 to 2030 due to the rising demand for lightweight packaging products. Due to the ease of manufacturing single-wall corrugated box goods, China is leading the growth of the Asia-Pacific market.

Asia-Pacific and China dominate the corrugated box market, and production and consumption of single-wall corrugated boxes are expanding in the region. Germany dominated the market in Europe due to the rising demand for tiny single-wall corrugated boxes, while the United States dominated the North American market due to the rising demand for returnable single-wall corrugated boxes.

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Scope of Report:

Report Attributes

Details

Growth Rate

CAGR of 5.0% from 2023 to 2030.

Revenue Forecast by 2030

USD 67.6 Billion

By Type

Slotted Boxes, Telescope Boxes, Rigid Boxes, Folder Boxes, Other

By Material

Linerboard, Medium, Others

By Printing Ink

Water-Based Ink, Uv-Curable Ink, Hot Melt-Based Ink, Solvent-Based Ink, Others

By Printing Technology

Digital Printing, Flexography Printing, Lithography Printing, Others

By End-use

Food & Beverages, Electronic Goods, Home & Personal Care Goods, Chemicals, Textile Goods, Glassware & Ceramics, Paper Products, Others

By Companies

International Paper, WestRock (RockTenn), Smurfit Kappa Group, Rengo, SCA, Georgia-Pacific, Mondi Group, Inland Paper, Oji, Cascades, Alliabox International (Alliance), DS Smith, Packaging Corporation of America, Bingxin Paper, SAICA, Shanying Paper

Regions and Countries Covered

North America: (US, Canada, Mexico, Rest of North America)

Europe(Germany, France, Italy, Spain, UK, Nordic Countries, Benelux Union, Rest of Europe)

Asia-Pacific (Japan, China, India, Australia, South Korea, Southeast Asia, Rest of Asia-Pacific)

The Middle East & Africa(Saudi Arabia, UAE, Egypt, South Africa, Rest of the Middle East & Africa)

Latin America(Brazil, Argentina, Rest of Latin America)

Rest Of the World

Base Year

2022

Historical Year

2017 to 2022

Forecast Year

2023 to 2030

Market Drivers:

Because of the COVID-19 pandemic, about 45% of people in Central and Eastern Europe would rather shop online. Studies and research show that new online shoppers are likely to keep shopping online. Nearly 80% of the people in Central and Eastern Europe like it when corrugated boxes are made with sustainable methods and materials that are good for the environment. When they shop online, 77% of people use corrugated packaging that is good for the environment. About 57% are willing to pay more for corrugated packaging solutions that can be changed and are good for the environment. In the wake of the COVID-19 pandemic, online businesses have done better. More and more people are paying attention to and talking about the use of sustainable products. This factor has helped make the market grow.

Market Opportunity:

Smurfit Kappa uses digital technology to improve the corrugated industry by making a variety of new paper products. Smurfit Kappa, a well-known company that makes corrugated packaging solutions, has made it easier for the corrugated industry to use technology. It has made a variety of papers that can be used for different things. These papers should work with both digital printing presses and flexo printing presses. The goal of making multipurpose paper was to let printers work with packaging materials. This new technology makes digital printing better in more ways and promises to make digital printing as useful as possible. Customized graphic design can give you more freedom and help you make more money, among other things. The company also wants to come up with new solutions and improve the ones it already has. The paper packaging industry is becoming more digital because of these changes, and the market has a lot of room to grow because of them.

Key Segments Covered:

Top Market Players: International Paper, WestRock (RockTenn), Smurfit Kappa Group, Rengo, SCA, Georgia-Pacific, Mondi Group, Inland Paper, Oji, Cascades, Alliabox International (Alliance), DS Smith, Packaging Corporation of America, Bingxin Paper, SAICA, Shanying Paper, and others.

By Type

Slotted Boxes

Telescope Boxes

Rigid Boxes

Folder Boxes

By Material

Linerboard

Medium

Others

By Printing Ink

Water-Based Ink

Uv-Curable Ink

Hot Melt-Based Ink

Solvent-Based Ink

By Printing Technology

Digital Printing

Flexography Printing

Lithography Printing

Others

By End-use

Food & Beverages

Electronic Goods

Home & Personal Care Goods

Chemicals

Textile Goods

Glassware & Ceramics

Paper Products

Others

Regions and Countries Covered

North America: (US, Canada, Mexico, Rest of North America)

Europe: (Germany, France, Italy, Spain, UK, Nordic Countries, Benelux Union, Rest of Europe)

Asia-Pacific: (Japan, China, India, Australia, South Korea, Southeast Asia, Rest of Asia-Pacific)

The Middle East & Africa: (Saudi Arabia, UAE, Egypt, South Africa, Rest of the Middle East & Africa)

Latin America: (Brazil, Argentina, Rest of Latin America)

Rest Of the World

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