Corrugated Board Market Analysis by Demand, Trends & Key Players 2028
Corrugated Board Industry Overview
The global corrugated board market size is expected to reach USD 149.7 billion by 2028, according to a new report by Grand View Research, Inc., expanding at a CAGR of 6.5% over the forecast period. The product demand is projected to be driven by the growth in e-commerce packaging and the rising usage of eco-friendly packaging solutions across the world due to strict regulations by regional governments.
Corrugated Board Market Segmentation
Grand View Research has segmented the global corrugated board market based on flute type, board style, and region:
Based on the Flute Type Insights, the market is segmented into A-Flute, B-Flute, C-Flute, E-Flute, F-Flute, Others.
- C-Flute held the highest revenue share of 29.4% in 2020. It is commonly used for shipping cases, packaging glass products, furniture, and products in the automotive industry. For instance, Mondi offers corrugated products for automotive applications, where they can be used for packaging engines, metal body parts, windshields, airbags, and car headliners.
- Higher thickness enables stacking and the ability to withstand pressure, thereby resisting bending & further damage. Therefore, the A-flute segment is expected to grow rapidly over the forecast period. E-flute is a micro flute with a thin layer of corrugating medium. A lower thickness of 1/16th inch also reduces the space required for its storage, additionally, a flat structure allows high-quality printing to be done on the surface.
- The thickness of F-flutes, which is lower than E-flute, allows reduced usage of paper fiber required for making a rigid package, which helps minimize solid waste. As per the United States Environmental Protection Agency (USEPA), corrugated boxes generated about 33.3 million tons of municipal solid waste in 2018 in the U.S.
Based on the Style Insights, the market is segmented into Single Face, Single Wall, Double Wall, and Triple Wall.
- The single-wall board style segment held the highest revenue share of over 38% in 2020. It can be used as supplemental protective material, as a divider, pad, or partition inside an outer packaging. These forms of board-style allow easy printing, wherein different coatings can also be applied on its surface.
- Single-face boards are also used as an inner packaging material to keep the individual items separate in outer packaging and offer added protection to the packaged goods. Single-face boards have relatively lower durability than other types due to the presence of a single fluted medium attached to the liner board. However, it offers a sustainable solution against bubble wrap or loose-fill protective products derived from plastic. Double-wall boards can be used for stacking and reinforcing applications and for separating fanfold.
- Triple-wall corrugated board with three corrugating mediums can withstand higher mechanical stress due to the additional layers of fluted paper. Therefore, it is used in the packaging and shipping of bulky products. It is lighter in weight as compared to crates made from wooden material used for transporting heavyweight packages.
Corrugated Board Regional Outlook
- North America
- Europe
- Asia Pacific
- Central & South America
- Middle East & Africa (MEA)
Key Companies Profile & Market Share Insights
Market players are adopting various strategies, such as mergers & acquisitions and new product development, to widen their product portfolio and strengthen their presence in the global market.
Some of the prominent players operating in the global corrugated board market include,
- International Paper
- Georgia-Pacific
- WestRock Company
- Packaging Corporation of America
- Stora Enso
- Oji Holdings Corp.
- Smurfit Kappa
- Port Townsend Paper Company
- Mondi
- DS Smith
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