Newly released data from corner pads market analysis shows that global demand of the overall corner pads market is anticipated to register a CAGR of ~5.4% during the forecasted period and reach millions of units by 2031. East Asia and South Asia regions are projected to expand at higher growth rates and capture a significant market share during the forecast period.
Competitive Landscape
Key global players such as
- The Smurfit Kappa Group plc
- F-D-S Manufacturing Company
- Packaging Corporation of America
- Sonoco Products Company
- VPK Packaging Group NV
- Cascades Inc.
- Napco National
- Cordstrap B.V.
- Signode Industrial Group
- Kunert Group
- among others
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Global Corner Pads Market: Market Outlook
During the transportation of packaged goods, it is of utmost importance that the secondary or tertiary packaging of the product is intact and not damaged in any way due to the shocks and external environmental factors.
Corner pads are commonly made of corrugated paper and are used to protect the edges of the secondary and tertiary packaging solutions. The increasing industrialization, heightening of import and export activities coupled with elevated packaging needs are bolstering the demand for corner pads globally.
What are the Key Trends Impacting Growth of the Corner Pads Market?
The use of sustainable yet recyclable solutions in the packaging industry is one of the key trends followed by the industry players to attract customers and achieve their sustainability goals.
In Europe due to the stringent regulatory compliances against plastic material, the application of sustainable packaging products is becoming a necessity. As corner pads are most commonly made from paper, they are environmentally friendly, and they can also be reused, which is a bonus to the manufacturers.
How is the Demand for Corrugated Packaging Products Reshaping the Corner Pads Market?
The flourishing logistics industry is a key contributor in driving the demand and sales of the corner pads in the market. As a result of the deliberate efforts of manufacturers and the national governments, the logistics industry has witnessed substantial growth in the past decade.
The increasing use of technology and innovative packaging solutions is supporting the logistics industry growth. Corner pads, especially corrugated corner pads are extensively used in the logistics industry to safeguard freight. During the foreseeable years, the corned pads market is anticipated to expand incrementally on the back of the flourishing logistics industry.
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What are the Key Challenges that may Restrain Growth of the Corner Pads Market?
There has been a significant rise in the awareness of the population in developed economies regarding the damaging environmental effects of the consumption of plastic. In the corner pads market, plastic material is commonly used by many players in the industry.
The growing aversion towards the use of plastic packaging solutions among consumers might restrain the growth of plastic corner pads in the market.
Why will the China Generate Significant Demand for the Corner Pads Market?
China has been and continues to be a hub for manufacturing activities for a large number of products. The ease in accessibility to cheap labor and raw material along with favorable government policies regarding the manufacturing sector are some of the reasons behind attracting global manufacturers to set up their plants in the country.
The constant growth of the country’s manufacturing sector is projected to grow significantly in the foreseeable future. As a result of extensive applications of the corner pads in the packaging of many manufactured products the market demand for the corner pads is anticipated to bolster on the back of the growing manufacturing industry in China.
Key Segments of Corner Pads Market Covered in the Report
Based on Type of Material:
- Paper
- Plastic
- Foam
Based on Type of Product Type:
- Angular Edge
- Straight Edge
- Custom Edge
Based on End Use Industry:
- Automotive
- Food & Beverages
- Building and Construction
- Electronics and Electricals
- Other Industrial
Based on the Region:
- North America
- Latin America
- Europe
- South Asia
- East Asia
- Oceania
- Middle East & Africa
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