According to Future Market Insights (FMI), the worldwide layer pads market is ready to extend at 5.6% CAGR, besting the shipment of ~750’000 Tons somewhere in the range of 2021 and 2031. The market is supposed to enroll year-on-year development of 5.4% in 2021.
Developing inclination for manageable layer pads to safeguard the great during travel will drive the deals of layer pads.
In light of the developing interest for supportability, organizations are fabricating ridged and chipboard layer pads to fulfill the flooding need from substance and drinks ventures. Higher use in bundling and travel of dangerous synthetic compounds overall additionally will spike the deals of layer pads.
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FMI has predicted the sales of paperboard layer pads to grow considerably over the forecast period. However, as plastic layer pads are economical and are durable, some of the end-users will continue preferring plastic layer pads in place of eco-friendlier alternatives.
On the flip side, stringent regulations imposed by on the use of plastic are expected to push the sales of paperboard layer pads. Driven by these factors, sales of layer pads are expected to reach US$ 1.16 Bn through 2021.
Key Takeaways from FMI’s Layer Pads Market Study
- In terms of end-user base, almost 80% of layers pads sold are used in beverages industry
- Food and agro products industry is expected to be the second largest end user, contributing sales of US$ 125.1 Mn through 2021
- The U.S. is expected to lead the North America layer pads market on the back of increasing demand from beverages industry
- Expansion of manufacturing and packaging industries is expected to propel the sales of layer pads in India
- South Korea is expected to account for 8% of global layer pads market
- In terms of material, while plastic is expected to hold lion’s share, sales of paperboard layer pads are expected to gain pace over the coming years
“Increasing demand for protective packaging and growing preference for online shopping have compelled industries to shift their focus to sustainable and durable packaging solutions. This is expected to create ample opportunities for layer pads manufacturers to capitalize on,” says an FMI analyst.
Competitive Landscape
As per FMI, top players are expected to account for over 15%-20% of global market share in 2021. Key players are focusing on collaboration with e-commerce and local vendors to increase their revenue generation.
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Some of the key players are also introducing sustainable paperboard layer pads, to attract revenue. They are also collaborating with local and international beverages companies to expand their customer base and gain competitive edge.
As per Future Market Insights, Smurfit Kappa Group, DS Smith, International Paper, KapStone Paper and Packaging Corporation are identified as top layer pads market players.
Layer Pads Market by Category
Material Type:
- Plastic
- Polypropylene (PP)
- Polyethylene Terephthalate (PET)
- Polycarbonate (PC)
- High Density Polyethylene (HDPE)
- Polyethylene (PE)
- Other Plastic Material
- Paperboard
- Chipboard
- Solid Fiberboard
- Corrugated
End User Base:
- Food & Agro Products
- Beverages
- Alcoholic Beverages
- Non-Alcoholic Beverages
- Electronics
- Chemical
- Others (Manufacturing)
Shape Type:
- Die Cut Shape
- Flat Shape
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