According to Future Market Insights (FMI), the global layer pad market is projected to expand at a 5.6 % CAGR from 2021 to 2031, recording shipments of ~750,000 tonnes between 2021-2031. The market is expected to record a year-over-year growth rate. 5.4% in 2021 .
The growing preference for sustainable layer pads to protect products during transportation will boost sales of layer pads.
In response to the growing demand for sustainability, companies are manufacturing corrugated cardboard and cardboard layer pads to meet the burgeoning demand from the chemical and beverage industries. Sales of layer pads will also be boosted by greater use in packaging and shipping of hazardous chemicals worldwide.
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FMI forecasts that sales of cardboard layer pads will increase significantly during the forecast period. However, as plastic layer pads are economical and durable, some end users will continue to prefer plastic layer pads over green alternatives.
On the other hand, strict regulations on the use of plastics are expected to stimulate sales of cardboard layer pads. Due to these factors, sales of layer pads are expected to reach $1.17 billion by 2021 .
Highlights of FMI Layer Pad Market Research
- Nearly 80% of layer pads sold in terms of end-user base are used in the beverage industry.
- The food and agricultural industry is projected to be the second largest end user and is expected to contribute to US$ 125.1 million in revenue by 2021.
- The US is projected to drive the North American layer pad market owing to growing demand from the beverage industry.
- Expansion of manufacturing and packaging industry is expected to drive sales of layer pad in India.
- Korea is expected to account for 8% of the global layer pad market.
- In terms of materials, plastics are expected to account for the largest share, while sales of cardboard layer pads are expected to accelerate in the next few years.
“The growing demand for protective packaging and the growing preference for online shopping have forced the industry to shift its focus to sustainable and durable packaging solutions. This is expected to create ample opportunity for layer pad manufacturers to take advantage of,” said the FMI analyst.
For information on the research approach used in the report, please contact TOC@ https://www.futuremarketinsights.com/reports/layer-pads-market/table-of-content.
competitive landscape
According to FMI, the top players are expected to account for more than 15%-20% of the global market share in 2021 . Key players are focusing on e-commerce and working with local vendors to increase revenue generation.
Some of the major players are also introducing sustainable cardboard layer pads to generate revenue. We also work with local and international beverage companies to expand our customer base and gain a competitive edge.
According to Future Market Insights, Smurfit Kappa Group, DS Smith, International Paper, and KapStone Paper and Packaging Corporation are identified as top layer pad market players.
Get valuable insights into the layer pad market
Future Market Insights provides an exhaustive analysis of the global Layer Pads market, including historical demand data and forecast figures for the period 2021-2031, in the updated report. The study reveals powerful insights into growth drivers and market potential with detailed segmentation criteria. Material Type (Plastic & Cardboard), End User Base (Food & Agricultural, Beverage, Chemical & Manufacturing), Shape Type (Die Cut Shape and Flat Shape) North America, Latin America, Western Europe, Eastern Europe, Asia Pacific excluding Japan, Middle East and Africa, Japan.
About Future Market Insights Packaging
FMI’s Packaging Division provides in-depth historical analysis and detailed forecasts of the global packaging market. From packaging materials to designs and formats, FMI has an exhaustive market research database, providing unique offers and strategic recommendations to its clients. With a repository of more than 750 reports, the team comprehensively analyzed the packaging industry in more than 70 countries. The team evaluates every node in the value chain and provides end-to-end research and consulting services. Contact us to find out how we can help