During the projected period, the global corrugated octabins market is expected to develop at a rate of roughly 5% to 5.6 percent. According to the most recent analysis on the corrugated octabins market, global demand for corrugated octabins is expected to expand at a CAGR of 5% until 2031. Furthermore, due to an increase in the demand for bulk packaging formats, sales of corrugated octabins are likely to reach millions of units throughout the forecasted period.
Which Factors are Driving Growth of The Corrugated Octabins Market?
The characteristic features such as recyclability, reusability, effective printability, durability, sturdiness along metal-free closure options are driving the growth of corrugated octabins widely, which makes it a primary choice for small as well as giant market players of the various end-use industry. Additional features that are propelling the adoption of corrugated octabins in several end-use industries include ease in stacking and handling along with better bulk resistance.
Increasing demand for cost-effective and light in weight packaging formats in all parts of the world are major driving forces of the corrugated octabins market by the next decade.
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What Restraints the Growth of Corrugated Octabins Market?
Various other alternatives made up of plastic such as jumbo bags can hamper the growth of corrugated octabins demand. The growing need of flexible packaging formats along with anti-static properties are gaining traction gradually, in carrying chemicals and granular products in bulk.
Most importantly, the increasing need of handles in bulk packaging formats offers handling ease during the shipment process and trading activity may act as a restraining factor in the sales of corrugated octabins in the market.
Which Lucrative Opportunities are Offered By Corrugated Octabins Market?
Corrugated octabins producers render standard as well as customized octabins. On the basis of nature, product type, and the capacity to be stored or transported, manufacturers have introduced corrugated octabins of diversifying specifications. Consequently, customized corrugated octabins are foreseen to observe a promising future with high demand from end-users.
With growth in the chemical industry, the demand for corrugated octabins is rising across the world. Infirm final demand and manufacturing stoppages in consumer-based industries will likely have a significant negative effect on chemical growth globally but particularly in China in 2020. However, emerging markets of Asia is assumed to have good growth opportunities in 2020 as compared to the previous year.
Key Market Players of Corrugated Octabins Market
- Mondi Plc
- IBC International
- International Paper Company
- Smurfit Kappa
- Rondo Ganahl AG
- TRICOR PACKAGING & LOGISTICS AG
- Quadwall Ltd
- VPK Group
- S LESTER PACKING MATERIALS LTD
- Bentsen Emballage A/S
- Klingele Papierwerke GmbH & Co. KG
Key Market Players in Asia-Pacific Region of Corrugated Octabins Market
- Ask Packaging Solutions.
- Shenzhen Hung To Chin Pack Co., Ltd.
- Kaplamin packaging
- ZHONG DA PAPER CO
Why Are India and China Major Markets For Corrugated Octabins?
China is the world’s largest producer of chemicals in the world, contributing over 35% of global chemical sales in 2019. Amongst several end-use industries which use corrugated octabins, chemical industry holds a significant segment. With high growth in the chemical industry, the demand for corrugated octabins is also rising across the world.
The easy availability of raw materials, huge production capacities, and demand of sustainable packaging products in India and China are pulling the demand for corrugated octabins.
What Makes Germany and France an Important Market for Corrugated Octabins?
Germany and France both the countries are striving ahead to adopt sustainable packaging formats as per the stringent regulations imposed by the European Union. Due to recyclability and sustainability provided by corrugated material, manufacturers in these countries are environmentally concerned which has unlocked immense growth opportunities for the global corrugated octabins market.
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Global Corrugated Octabins Market Segmentation
Segmentation based on Wall Type:
- Single-wall
- Multi-wall
Segmentation based on Product Type:
- Base discharge corrugated octabins
- Self-assembly corrugated octabins
- Telescopic corrugated octabins
- Standard corrugated octabins
- Free flow base corrugated octabins
Segmentation based on the End Use:
- Food & Beverages
- Chemical
- Consumer Goods
- Shipping and Logistics
Segmentation based on Region:
- North America
- Latin America
- Europe
- South Asia
- East Asia
- Oceania
- Middle East and Africa
- August 2022
- REP-GB-13562
- Upcoming
- Packaging
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