With a projected value of US$ 44.7 billion in 2023, the global coated recycled boxboard market is set to grow steadily, boasting a 4.5% CAGR, and is expected to achieve a market size of US$ 69.4 billion by 2033.
Mexico’s substantial demand for paperboard boxes is instrumental in facilitating the establishment of the Coated Recycled Boxboard market in the region. The United States is expected to dominate the North American coated recycled boxboard market, holding a substantial share of approximately 78% by the end of the forecast period. The American Forest & Paper Association (AF&PA) highlights that paper is one of the most widely recycled materials in the US. This recyclability appeals to US consumers and drives demand for a diverse range of paper and paperboard packaging solutions across various end-use industries.
In India, the growing packaging industry has created an incremental opportunity for the Coated Recycled Boxboard market, with an anticipated CAGR of 4.9% from 2023 to 2033. As a rapidly expanding economy, India’s packaging sector has experienced significant growth. Data from the India Brand Equity Foundation reveals that packaging consumption in India has surged by 200% in the past decade. The substantial packaging industry also offers room for a sub-packaging market, with folding paperboard boxes constituting the second-largest segment within the packaging industry. This segment accounts for approximately 20% of India’s total packaging market, presenting a substantial market share for the paper segment and opportunities for the growth of the coated recycled boxboard market. India’s emergence as a dynamic economy is pivotal in fostering the growth of the coated recycled boxboard market.
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The Major Key Players Are:
- Graphic Packaging International, Inc.
- Greif, Inc.
- Cascades Inc.
- Smurfit Kappa Group plc
- Paperworks Industries Inc.
- Netpak.
- DS Smith plc
- Georgia-Pacific Corporation
- Klabin SA
- Packaging Corporation Of America
- Orora Ltd.
- Emenac Packaging USA
- Caraustar Industries Inc.
- Mondi Group plc
Recent Developments-
- In September 2022, Graphic Packaging International, Inc. made a strategic investment in Paper seal Machine. The investment has been done with the objective of meeting up the local demand in the US The investment in recyclable paperboard manufacturers is strengthening the company’s operations in the particular market.
- In November 2022, Greif, Inc. acquired LEE Container. The company’s acquisition is further expanding its presence in the recycled boxboard market. Through its acquisition company is now focusing on innovative and advanced packaging solutions.
Coated Recycled Boxboard Market Trends
To stay informed about the Coated Recycled Boxboard Market, it’s essential to understand the latest trends shaping the industry.
Sustainable Packaging Dominance
With environmental concerns on the rise, the demand for sustainable packaging solutions like CRB continues to grow.
Innovation in Coatings
Technological advancements in coating techniques enhance CRB’s performance, making it an even more attractive choice.
E-commerce Boom
The surge in e-commerce has boosted the demand for packaging materials, including CRB, to meet the needs of online retailers.
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Coated Recycled Boxboard Market by Category
By Coating Type, Coated Recycled Boxboard Market is Segmented as:
- Poly
- Clay
- Adhesive
By Application, Coated Recycled Boxboard Market is Segmented as:
- Backing Board
- Boxes & Cartons
- Cores & Tubes
- Displays
- Trays
- Others (Cups, Tubs, etc.)
By End Use, Coated Recycled Boxboard Market is Segmented as:
- Food & Beverages
- Electrical & Electronics
- Personal Care & Cosmetics
- Pharmaceuticals
- Homecare & Toiletries
- Others (Automobiles, etc.)
By Region, Coated Recycled Boxboard Market Is Segmented As:
- North America
- Latin America
- Europe
- South Asia
- East Asia
- Middle East & Africa (MEA)
- Oceania
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