Corrugated Fiberboard Market

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.

Market Dynamic

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.

COVID-19 Impact

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:

• Flute A
• Flute B
• Flute C
• Combination Flutes
• Micro Flutes

By Board Type:

• Single Wall
• Double Wall
• Triple Wall

By End Use:

• Food & Beverages
• E-commerce
• Pharmaceuticals
• Cosmetics & Personal Care
• Electrical & Electronics
• Automotive
• Transportation & Logistics
• Textile

By Region and Country:

• North America (U.S., Canada)
• Latin America (Brazil, Mexico, Rest of Latin America)
• Europe (Germany, Italy, France, UK, Spain, Netherlands, Norway, Russia, Rest of Europe)
• Asia-Pacific (China, Japan, South Korea, India, Indonesia, Thailand, Vietnam, Australia & New Zealand, Rest of Asia-Pacific)
• Middle East (Saudi Arabia, Turkey, UAE, Rest of Middle East)
• Africa (South Africa, Nigeria, Egypt, Rest of Africa)

Segment-Wise Analysis

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.

Region-Wise Analysis

The regions analyzed for the market include North America, Europe, Latin America, Asia Pacific, Middle East, and Africa.

• In 2021, the Asia Pacific market held a sizeable revenue share of 47.2%. In Fresh food, e-commerce in the nation is expanding by over 60.0% due to the high consumer interest in buying fruits, vegetables, and dairy products online. Because corrugated fiberboard is widely employed as a packaging tool in the e-commerce sector, it is anticipated that the industry will boost the corrugated fiberboard market in China.
• The U.S. is the main driver of regional growth in North America, which has the second-largest proportion of the Corrugated Fiberboard market. Many Americans rely on the U.S. Postal Service (USPS), which provides an essential service. The mail system delivers 39.0% of the nation’s paper-based communications.

Competition Analysis

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:

• In May 2021, Mondi said that the purchase of Olmuksan was complete. Due to Olmuksan’s wide customer base and prominence in the Turkish corrugated packaging sector, this acquisition will help Mondi solidify its position in the country’s rapidly expanding corrugated market.
• In November 2021, At the IndiaCorr Expo, Boix Machinery India displayed its newest products. To reduce the rejection of fruits due to bruising during transportation, the company has increased the stacking strength of its specialty corrugated boxes for fruit exports and increased production capacity.

A list of some of the key suppliers present in the market are:

• Georgia-Pacific
• 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.

Report Coverage and Highlights

• Our comprehensive, data-backed, and facts-oriented report provides niche and cross-sectional analysis at global and country levels.
• Assessment of the historical (actual data) and current market size (2017-2021), market projections (2022-2032), and CAGR.
• The market assessment across North America, Europe, East Asia, South Asia & Pacific, Latin America, Middle East, and Africa.
• Competitive tactical intelligence, key strategies adopted by top players, production capacity and company shares analysis, product brand surveys, and export-import analysis
• Pricing analysis to set and benchmark your current or future offerings across each product type helps you understand whether your pricing strategy is aligned with market expectations and can be compared to market disruptions.
• Predictions on critical supply and demand trends and technological expertise needed to address operations scalability.
• Consumer behavior shifts and their implications for players, list of end-users, and their consumption analysis.
• Key drivers, restraints, opportunities, and emerging trends impacting the market growth.
• Value chain analysis (list of manufacturers, distributors, end-users, and average profitability margins).
• Strategic market analysis, recommendations, and future headways on crucial winning strategies.