Recent report by Future Market Insights (FMI) the market for corrugated automotive packaging is likely to reflect moderate growth from 2020 to 2030. The sector is expected to benefit from sustainability initiatives in the packaging industry. The growth trajectory of the global corrugated automotive packaging market is projected to be significantly affected throughout 2020. A substantial dip in comparison to previous years is likely, largely owing to the effects of the coronavirus pandemic on the global automotive sector.
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“Original equipment manufacturers (OEMs) in the automotive industry are displaying increased preference towards corrugated packaging options owing to easier recycling, lower costs of shipping, and low weight. Corrugated packaging products are easier to customize as per the needs of the end user through the supply chain,” said a lead analyst at FMI.
In its latest report, Future Market Insights has given a detailed analysis of the many strategies being employed by market players in the corrugated automotive packaging market. Leading players are largely emphasizing on product development and launch strategies in addition to strategic acquisitions and capacity expansions.
Some of the major players in the industry include International Paper Company, Sonoco Products Company, Mondi Group Plc, Sealed Air Corp, WestRock Company, Greif Inc., DS Smith plc, and Smurfit Kappa Group plc, among others.
Key Segments
Layer Type
- Single Face
- Single Wall
- Double Wall
- Triple Wall
Product Type
- Trays
- Corrugated Partitions
- Corrugated Pallets
- Octabins
- PoP Displays
Automotive Parts
- Automotive Filter
- Battery
- Engine Components
- Lighting Components
- Underbody Components
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Corrugated packaging will primarily find use for lighting components, owing to safety standards associated with electronic parts, with boxes remaining a popular option for efficient logistical supply chain operations. The market is expected to gain from industry acquisition and capacity expansion strategies and investments towards product development.
The FMI report provides an overview of the industry, covering key dynamics in the market. Some of the top takeaways of the report include:
- The corrugated automotive packaging market has been valued at over US$ 1.7 billion in 2019, and the growth rate of the market is likely to be strongly affected by the covid-19 outbreak, owing to lockdown restrictions on the manufacturing and automotive sectors
- Corrugated boxes remain the preferred packaging format, owing to benefits in stacking, and efficiency in logistical operations from suppliers to end users
- Packaging for automotive lighting will generate higher demand as that of batteries, engine components, filters, and electrical among others. Engine and battery packaging applications are likely to reflect faster growth owing to lower risk of accidental discharges
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- Is this research conducted by Future Market Insights?
- Yes, the research has been conducted by expert analysts of Future Market Insights through a combination of primary research and secondary research. To know more about how the research was conducted, you can speak to research analyst
- What research methodology is followed by FMI?
- FMI follows a methodology that encompasses demand side assessment of the market, and triangulates the same through supply side analysis. This methodology is based on use of standard market structure, methods and definitions.
- Who are the respondents for primary research?
- FMI speaks to stakeholders across the spectrum, including C-level executives, distributors, product manufacturers, industry experts. For a full list of primary respondents, please reach out to us.
About FMI
Future Market Insights (FMI) is a leading provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in Dubai, the global financial capital, and has delivery centers in the U.S. and India. FMI’s latest market research reports and industry analysis help businesses navigate challenges and make critical decisions with confidence and clarity amidst breakneck competition. Our customized and syndicated market research reports deliver actionable insights that drive sustainable growth. A team of expert-led analysts at FMI continuously tracks emerging trends and events in a broad range of industries to ensure that our clients prepare for the evolving needs of their consumers.
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