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The global corrugated board industry is anticipated to reach US$ 143.86 billion in 2023, growing at a 6.8% CAGR between 2023 and 2033. The market is expected to reach US$ 277.75 billion by 2033.
Corrugated board, also known as corrugated fiberboard or cardboard, is a versatile packaging material made from a combination of paper-based materials. It consists of a fluted (ridged) layer sandwiched between two flat linerboard layers. This unique structure provides strength, durability, and cushioning properties, making it ideal for various packaging applications.
During the forecast period, it is anticipated that the market would be driven by the ban on plastic packaging in developing countries like India, rising industrialization, and expanding global trade. The widespread adoption of corrugated boards in products including liquid bottles, fruits and vegetables, ready-to-eat food, and confectionery goods is anticipated to promote the corrugated board market expansion.
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Key Trends: Key trends in the corrugated board market include the adoption of lightweight and high-performance corrugated materials, integration of smart packaging technologies for enhanced traceability and product authentication, and the introduction of value-added features such as anti-microbial coatings. These trends reflect the industry’s focus on sustainability, innovation, and meeting evolving consumer preferences.
Key Takeaways
- The Japan market is expected to register a CAGR of 6.7% during the forecast period.
- During the projected period, the corrugated board market in the United States accounted for approximately 19.1% of the global corrugated board industry.
- During the forecast period, Sweden’s market accounted for around 6% of the global market.
- Asia Pacific emerged as a prominent market, accounting for more than 40% of total revenue.
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Recent Development
A new production line may be constructed at Mondi Group’s corrugated box production plant in Szczecin, Poland, in September 2021. As a result of the growth, this company’s packaging range may grow, and production processes may be streamlined.
Bobst, a corrugated board firm, may offered new portfolio of products and services in June 2022 to assist converters and brand owners with digitization and sustainability. Connectivity, digitization, automation, and sustainability have been promoted as the ‘four key pillars’ of the printing and packaging machinery. This assists this company in promoting its items.
Key Players
- International Paper
- Georgia-Pacific
- WestRock Company
- Packaging Corporation of America
- Stora Enso
- Oji Holdings Corporation
- Smurfit Kappa
- Port Townsend Paper Company
- Mondi
- DS Smith
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Key Segments
By Flute Type:
- Flute A
- Flute B
- Flute C
- Flute E
- Flute F
By Board Type:
- Single Wall
- Double Wall
- Triple Wall
By End Use:
- Food & Beverages
- Pharmaceuticals
- Cosmetics & Personal Care
- Automotive
- Transportation & Logistics
By Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia
- Oceania
- The Middle East and Africa
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