Global Corrugated Paperboard Boxes Market - Overview
The global corrugated paperboard boxes market is growing with the moderate pace; mainly due to rapid growth in electronics and e-commerce sector. The market is expected to continue with the moderate growth trend during the forecast period. Along with the rapid growth in the electronic sector, strong growth in e-commerce, other factor responsible for the growth of the market is growing demand for product safety. However, government regulations for corrugated boxes and adverse effects on the environment, are expected to hinder the growth of the corrugated boxes market.
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Today consumer electronics is the top selling category due to increase in the number of online electronics models. The electronics sector is continuously evolving with new developments. This is backed by the internet penetration which has led to the increased online sale of electronics from various internet portals. This rapid growth in the electronic sector is ultimately driving the demand of the corrugated boxes. Furthermore, the continuous growth of e-commerce is fuelling the overall growth of the corrugated paperboard boxes market. The ease of online shopping such as faster delivery, easier return policies, and free shipping, have made many customers switch from the traditional methods of shopping. Also, the demand for protective packaging has augmented the demand for such corrugated boxes. To maintain the durability and safety of the products, packaging is required so that materials can withstand different conditions such as atmospheric, vibration or shock, variations in temperature, and pressures until the product reaches the consumer safely. Presently, corrugated boxes are considered common and are a trusted mode of packaging to maintain the quality of the products until they reach their destination.
Key Players:
International Paper Company (U.S.), WestRock (U.S.), Smurfit Kappa Group (Ireland), Mondi Group (Austria), KapStone Paper and Packaging Corporation (U.S.), Orora Packaging Australia Pty Ltd (Australia), Europac Group (Spain), Georgia-Pacific LLC (U.S.), Nefab Group (Sweden), and Archis Packaging (India) are some of the prominent players at the forefront of competition in the global corrugated paperboard boxes market and are profiled in MRFR Analysis.
Global Corrugated Paperboard Boxes Market - Competitive Analysis
The key players adopted various strategies to retain and/or expand their market share. The key strategies followed by most companies within the global corrugated boxes market were those of expansion and new product development. The strategy of mergers acquisitions is widely adopted to achieve operational efficiencies. In addition to this, expansion was the next best strategy, with an adoption rate of 28% among the major players. This has enabled them to increase the market share and expand their client base.
WestRock (U.S.) has undergone the many mergers acquisitions, during the period of 2014-2017. In 2017, WestRock acquired Multi Packaging Solutions for USD 1.39 Billion, for significant opportunities for operational synergies and margin expansion. Similarly Smurfit Kappa (Ireland) focuses on acquisitions to strengthen and diversify geographic reach and to drive earnings. It also expanded its corrugated packaging operations in the U.K.
Georgia-Pacific LLC (U.S.) uses a disciplined approach towards acquisitions that generate attractive cash returns and as a result, it expects to continue to expand and diversify the customer base, expanding the geographic presence and product lines. The company has made three acquisitions, recently, so as to grow its business, globally. For instance, in March, 2016 the company acquired Excel Displays Packaging.
In addition to this, expansion was the next best strategy, with an adoption rate of 28% among the major players. This has enabled them to increase the market share and expand their client base. For instance, On April 8, 2016, the KapStone Paper and Packaging Corporation (U.S.) approved the plan to expand its geographical footprint into Southern California with a new sheet plant with a total estimated cost of approximately USD 4.0 million.
Orora Packaging (Australia) believes acquisition and integration of dynamic have supported the growth of the company. It has expanded the geographic presence, providing access to high performing assets and presenting opportunities to reduce costs. The new corrugated packaging and cold storage facility that started in Bundaberg, Australia, is one of such attempts.
Global Corrugated Paperboard Boxes Market - Segments
Global Corrugated Paperboard Boxes Market is segmented in to 4 Key dynamics for an easy grasp and enhanced understanding.
Segmentation By Material: Comprises – Paperboard, Adhesives, Inks, Waxes, and others.
Segmentation By Product: Comprises – Corrugated Solid fibre boxes, Set-up Paperboard boxes, Folding Paperboard boxes, and others
Segmentation By Application: Comprises – Durable goods, Food beverages, Paper Publishing, Chemicals, and others
Segmentation By Regions: Comprises Geographical regions - North America, Europe, APAC and Rest of the World
Global Corrugated Paperboard Boxes Market - Regional Analysis
In global corrugated boxes market, Asia-Pacific is the leading region with the highest market share in 2016. The emerging economies like China and India with increasing population are driving the corrugated boxes market in the region. China is projected to have the largest market share during the forecast period. Steady growth in e-commerce business and food and beverage industry in Asia-Pacific region offers a potential opportunity for the corrugated boxes market to boom during the forecast period.
In China, the food and beverage and the healthcare industries are the fastest growing industries that extensively use corrugated packages. The corrugated Boxes market in the region is also growing with the growth of the processed food sector and the increasing demand for corrugated Boxes by the electrical equipment and machinery manufacturers and suppliers. According to National Bureau of Statistics, China’s e-commerce market size have increased from USD 6287,449 million in 2015 to USD 773,938 million in 2016.
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