The market for layer pads is projected to be worth US$ 1,309.8 million in 2023 and to grow to a revised value of US$ 2,111.8 million by 2033. The expected CAGR for this market’s growth throughout the course of the study is 5.6%.
Growing preference for sustainable layer pads to protect the good during transit will propel the sales of layer pads.
In response to the growing demand for sustainability, companies are manufacturing corrugated and chipboard layer pads to meet the surging demand from the chemical and beverages industries. Higher use in packaging and transit of hazardous chemicals worldwide also will spur the sales 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 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 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.
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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.
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.
Table of Content
- Executive Summary
1.1. Market Overview
1.2. Market Analysis
1.3. FMI Analysis and Recommendations
1.4. Wheel of Fortune
- Market Introduction
2.1. Market Definition
2.2. Market Taxonomy
- Market Viewpoint
3.1. Macro-Economic Factors
3.1.1. Global Flexible Packaging Outlook
3.1.2. Global Rigid Packaging Outlook
3.2. Global Pricing Analysis
3.3. Opportunity Analysis
3.4. Restraint Analysis
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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
Region
- North America
- Latin America
- Western Europe
- Eastern Europe
- Asia Pacific excluding Japan
- Middle East & Africa
- Japan
About Future Market Insights, Inc.
Future Market Insights, Inc. (ESOMAR certified, Stevie Award – recipient market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10 years.
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