Global Corrugated Board Market

Corrugated Board Market Size, Share, Growth Analysis, By Flute Type(A-Flute, B-Flute, C-Flute, others), By Board Style(Single Face, Single Wall, Double Wall, Triple Wall), By End-Use(Food & Beverages, Personal Care, Electrical & Electronics, others), By Region - Industry Forecast 2024-2031

Report ID: SQSG15H2005 | Region: Global | Published Date: July, 2001
Pages: 157 | Tables: 93 | Figures: 76

Corrugated Board Market Regional Insights

Globally, Asia Pacific dominated the corrugated board market with a strong market share in 2021. High growth in industrialization and growing urbanization in the developing countries such as India and China are the major factors drive the market growth and demand in the region. In addition, rising awareness among consumers regarding environment effects is also anticipated to grow the demand for greener packaging in the region over the forecast period. Government initiatives such as ban on plastic products and packaging is also having positive influence on the market and accelerating the demand for corrugated boards.

Furthermore, North America region is witnessing fastest CAGR during the forecast period owing to the rapid growth in e-commerce platforms, rising consumer disposable income, and growing awareness regarding benefits of greener packaging. For instance, according to the United States Department of Commerce, the United States online retail sales was around USD 601 billion in 2019 with an increase of nearly 15% from the previous years. Furthermore, presence of large market players such as Smurfit Kappa Group and Acme Corrugated Box Company is also anticipated to boost the growth of the market for corrugated board in the region.

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Corrugated Board Market size was valued at USD 126.2 billion in 2019 and is poised to grow from USD 134.7 billion in 2023 to USD 238.1 billion by 2031, growing at a CAGR of 6.8% in the forecast period (2024-2031).

The corrugated board market is fairly fragmented with the presence of many well-known and regional players operating around the globe. Major players are constantly improving their product quality and focusing on providing sustainable and eco-friendly packaging products to capture the larger market share. Moreover, companies are entering into various business partnerships, collaborations, and mergers to expand their geographical presence and strengthen their position in the market. 'International Paper Company', 'Smurfit Kappa Group', 'WestRock Company', 'Mondi Group', 'Packaging Corporation of America', 'Nine Dragons Paper Holdings Limited', 'Lee & Man Paper Manufacturing Ltd.', 'Georgia-Pacific LLC', 'DS Smith Plc', 'Oji Holdings Corporation', 'Stora Enso Oyj', 'Svenska Cellulosa AB', 'KapStone Paper and Packaging Corporation', 'Hokuetsu Kishu Paper Co., Ltd.', 'Rengo Co., Ltd.', 'Nippon Paper Industries Co., Ltd.', 'Pratt Industries Inc.', 'U.S. Corrugated Inc.', 'Bio Pappel S.A.B. de C.V.', 'Visy Industries Australia Pty Ltd.'

Rising demand for customized corrugated board in several types of shape and sized for the packaging of material by different industries is a key factor projected to drive the growth of the corrugated board market over the forecast period. Moreover, growing consumer awareness about the recyclable materials used in a corrugated board coupled with the extensive need for environment friendly packaging material are also expected to propel the market growth in the coming years.

Increasing prevalence of corrugated board packaging in place of plastic packaging as an alternative for many different-different applications across the globe is creating lucrative growth opportunities for corrugated board market. Many industries are adopting corrugated packaging as main packaging material because it can be created easily, recyclable, and lowering the overall shipment cost as well, which has resulted in fostering the market growth in the recent years and expected to do so in the near future.

Globally, Asia Pacific dominated the corrugated board market with a strong market share in 2021. High growth in industrialization and growing urbanization in the developing countries such as India and China are the major factors drive the market growth and demand in the region. In addition, rising awareness among consumers regarding environment effects is also anticipated to grow the demand for greener packaging in the region over the forecast period. Government initiatives such as ban on plastic products and packaging is also having positive influence on the market and accelerating the demand for corrugated boards.

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Global Corrugated Board Market

Report ID: SQSG15H2005

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