As per a recent market survey by ESOMAR-certified consulting firm Future Market Insights (FMI) the global plastic corrugated sheets market is projected to total US$ 1.3 Bn in 2021, growing at a 6.4% CAGR through 2031.
Despite stagnant sales amid COVID-19, global consumption of plastic corrugated sheets is expected to reach 852.3 ‘000 Tones, by the end of 2021. The market has been projected to expand at a 6.0% CAGR over the assessment period, in terms of volume.
In 2021, the China plastic corrugated sheets market is predicted to increase by 7.6 % year-over-year, bucking initial skepticism about how the market would perform during the global pandemic. Across the whole of East Asia, total sales of plastic corrugated sheet totaled US$ 366.5 Mn in 2020.
Driven by the expansion of the food and construction industries across the globe, the plastic corrugated sheet market is anticipated to rise at 6.4% CAGR from 2021 to 2031. Plastic corrugated sheets are made from high-impact polypropylene copolymer or low-density polyethylene.
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These sheet are specially derived from extruded plastic, also known as twin-wall or multi-wall sheet produced in a continuous extrusion process. They are waterproof, heat-insulated, and long-lasting, while being chemical, moisture, acid-resistant as well as pest and termite resistant. Its tendency to adhere to unforeseen hardships and climate changes is indeed an advantage. It is a robust, long-life, and customized packaging solution for various end-user applications.
Plastic corrugated sheets are extensively used in the advertising industry for exhibition and signboards, indoor-outdoor signage, digital and screen-printing displays. These sheets provide robust protection against environmental influences are easily installable, ideal for temporary walls, fencing, and partitions.
Plastic corrugated sheet is among the most protective packaging solutions, providing optimum level protection for all kinds of material parts of different sizes and shapes. They are an excellent source of roofing and flooring materials and are used in the agriculture industry for the construction of greenhouses and protection and handling of plants during transport.
Plastic corrugated sheets are budget-friendly and lightweight, making them one of the most economical solutions available for outdoor advertising. They also provide a flat surface, which efficiently works for a wide range of inks. Moreover, the material does not need any special printing equipment, which makes them ideal for various packaging applications.
Printing on corrugated plastic sheets is done on a single or double side, in multiple colors, shapes, and sizes. These sheets can be used for displaying content outdoor for a long period without physical damage due to their rugged construction and long lifespan.
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Plastic corrugated sheets also are considered ideal packaging material in the food & beverage, automotive, pharmaceutical and the construction industries. Plastic corrugated sheets can withstand air pressure 200 times better than glass, which makes them widely acceptable in the construction industry.
“Expansion of the ecommerce sector, coupled with growing demand for customizable packaging solutions will continue pushing the sales of plastic corrugated sheets in the forthcoming years,” says the FMI analyst.
Key Takeaways from Plastic Corrugated Sheets Market
- Based on material type, polypropylene (PP) plastic corrugated sheets are projected to hold 48.7% of the total market share.
- In terms of end-use, applications of plastic corrugated sheets in the packaging industry are anticipated to account for 34.1% of the total market share through 2031.
- 3mm to 8mm thickness segment to remain highly sought after, capturing 48.4% of the total plastic corrugated sheets market share.
- The U.S. will continue witnessing high demand for plastic corrugated sheets, accounting for 85.1% of the North American market share.
- Germany is projected to dominate the European plastic corrugated sheets market, holding 17.5% of the market share.
- Sales of plastic corrugated sheets in India are anticipated to grow at a robust 8.9% CAGR through 2031.
- China will emerge as an attractive market, commanding 80.9% of the East Asian plastic corrugated sheets market share.
- The Australian plastic corrugated sheets market is projected to grow at a 3.5% CAGR through 2031, owing to increasing demand for high-quality printing solutions.
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Who is Winning?
DS Smith Plc, Karton S.p.A., Coroplast, FlutePlast, Twinplast Ltd., and among others are the leading players in the global plastic corrugated sheets market. The Tier 1 players in the market hold 15-20% in the global plastic corrugated sheets market.
As consumers are preferring environmentally friendly, sustainable, and affordable packaging solution, players operating in the global plastic corrugated sheets market are actively focusing on research and development to launch innovative products, catering to the growing demand. Besides this, strategic collaborations, mergers, and acquisitions will remain prominent growth strategies adopted by key players over the assessment period. For instance:
- Coroplast® offers CORO-GARD™ plastic corrugated sheets made for electronic transportation-sensitive devices and packaging to prevent (ESD) electrostatic damage. It is produced to meet the guidelines given by the (EIA) Electronics Industries Association.
- Coroplast® introduced brushed fabric polyester laminated sheets, which provide additional abrasion protection for “A” class packaging applications. Polyester laminated Coroplast sheets offer a cost-effective solution to ensure a proper combination of process, materials, and adhesion.
- Karton S.p.A. introduced Eplak® polypropylene sheet, which has a sandy matt finish ideal for cosmetics and luxury products packaging. Its glossy, shiny mirror finish is perfect for advertising materials. Cartonplast® is a versatile product that is easily converted into box packaging and uses the most modern extrusion technique.