Global Corrugated Board Market – Industry Trends and Forecast to 2029

Global Corrugated Board Market, By Product (Single Face Board, Single Wall Board, Double Wall Board, Triple Wall Board), Application (Retail, Food and Drink, Consumer Goods, Industrial, Shipping and Handling), Flute Type (A-Flute, B-Flute, C-Flute, E-Flute, F-Flute, Others), Board Style (Single Face, Single Wall, Double Wall, Triple Wall) – Industry Trends and Forecast to 2029.

Corrugated Board Market Analysis and Size

Global corrugated board market is expected to gain drive in the coming years due to the expansion of e-commerce and significant growth in digital printing technologies. The “single-wall board” style segment held the highest revenue because it can be used as a supplemental protective material, as a partition, divider, or pad inside the outer packaging. Moreover, increasing demand for greener packaging solutions is anticipated to boost market growth during the forecast period.

Data Bridge Market Research analyses that the corrugated board market was valued at USD 96.42 billion in 2021 and is expected to reach USD 156.01 billion by 2029, registering a CAGR of 6.20% during the forecast period of 2022 to 2029. In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include in-depth expert analysis, geographically represented company-wise production and capacity, network layouts of distributors and partners, detailed and updated price trend analysis and deficit analysis of supply chain and demand.

Corrugated Board Market Scope and Segmentation

Market Definition

Corrugated board or corrugated cardboard is a type of cardboard which is consisting a fluted corrugated sheet and one or two flat liner boards. The corrugated board is made on "corrugators" or "flute lamination machines" for making cardboard boxes. The linerboard(s) and medium corrugated sheet are made of Kraft containerboard. Kraft containerboard is a paperboard material generally over 0.25 millimetres (0.01 in) thick.

Global Corrugated Board Market Dynamics

Drivers

• Rise in demand for eco-friendly packaging

Growing demand for eco-friendly packaging resources for customer belongings applications, such as packaging of chocolate, cigarette, and other quality products, is expected to drive the demand for corrugated board in the market

• Increasing demand of  corrugated board for  packaging of cosmetic and personal care products

Corrugated board is commonly used in the packaging of cosmetics products. It is considered a perfect material for both primary and secondary packaging of personal care products and cosmetics products due to its excellent workability. This factor is anticipated to continue during the forecast period, making cosmetic and personal care packaging a main driver of the corrugated board market. 

• Expansion of E-commerce business in the developing nations

Rise in demand for food packaging always increase the demand for corrugated packages due to growing e-commerce shipments. This is the major driving factor for the growth of the market. Expansion of e-commerce business in the growing nations and rising demand for cartons in the transportation of bottled liquids is helping in the development of corrugated board market.

Opportunities

• Growing demand of triple wall corrugated board

Triple-wall corrugated board can withstand higher mechanical stress with three corrugating mediums owing to the additional layers of fluted paper. Thus, it is used in the shipping and packaging of bulky products. It is lighter in weight compared to crates made from wooden material. The triple-wall corrugated board is widely used for transporting heavyweight packages. Therefore, it provides a cost-effective, high-strength and sustainable alternative to traditional metal-based or timber-based packaging used for heavyweight products. The rising demand of triple wall corrugated board will create lucrative opportunities for the growth of the corrugated board market.

Increasing FDI investments and urbanization in the production market, typically in some countries, is expected to deliver substantial opportunities for the manufacturers of corrugated boards in the upcoming future. Also, increasing government initiatives to recycle paper packaging products will further increase several new opportunities for market growth during the forecast period.

Restraints/ Challenges

• Issues associated with corrugated board market

Major raw material for the corrugated board is trees. Due to environmental concern government need to save forest so, which may impact the market growth. Additionally, paperboard waste is also piling up because the rate of recycling is low compared to the supply and demand. For instance, the Fiber Box Association states that while 90% of corrugated packaging becomes recycled, the remaining 10% still adds to environmental waste, which may hinder the global market landscape.

This corrugated board market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the corrugated board market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.

Impact and Current Market Scenario of Raw Material Shortage and Shipping Delays

Data Bridge Market Research offers a high-level analysis of the market and delivers information by keeping in account the impact and current market environment of raw material shortage and shipping delays. This translates into assessing strategic possibilities, creating effective action plans, and assisting businesses in making important decisions.

Apart from the standard report, we also offer in-depth analysis of the procurement level from forecasted shipping delays, distributor mapping by region, commodity analysis, production analysis, price mapping trends, sourcing, category performance analysis, supply chain risk management solutions, advanced benchmarking, and other services for procurement and strategic support.

COVID-19 Impact on Corrugated Board Market

In 2019, a coronavirus epidemic occurred, resulting in a global pandemic of COVID-19, the business had dropped 20-25 percent, which will assuredly hit the corrugated board market as they are used to ship significant products in the retail stores. However, the rise in usage of e-commerce to buy the important product, especially in developing countries affect the market growth. A fundamental shift in business standards, some government norms and regulations, e-commerce legislation, and consumer taste has decreased the usage of environmentally friendly solutions.

Expected Impact of Economic Slowdown on the Pricing and Availability of Products

When economic activity slows, industries begin to suffer. The forecasted effects of the economic downturn on the pricing and accessibility of the products are taken into account in the market insight reports and intelligence services provided by DBMR. With this, our clients can typically keep one step ahead of their competitors, project their sales and revenue, and estimate their profit and loss expenditures.

Global Corrugated Board Market Scope

The corrugated board market is segmented on the basis of product, application, flute type and board style. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

Product

• Single Face Board
• Single Wall Board
• Double Wall Board
• Triple Wall Board

 Application

• Retail 
• Food and Drink
• Consumer Goods
• Industrial 
• Shipping
• Handling

Flute Type 

• A-Flute
• B-Flute
• C-Flute
• E-Flute
• F-Flute
• Others

Board Style

• Single Face
• Single Wall
• Double Wall
• Triple Wall

Corrugated Board Market Regional Analysis/Insights

The corrugated board market is analysed and market size insights and trends are provided by country, product, application, flute type and board style as referenced above.

The countries covered in the corrugated board market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.

Asia-Pacific dominates the corrugated board market in terms of revenue and market. This is due to increasing demand for processed food and beverages mainly in this region's emerging economies such as India, Malaysia, Indonesia and China.

North America is anticipated to be the fastest developing region during the forecast period of 2022-2029 due to the increasing exports of vegetables and fruits which is expected to fuel the demand for corrugated board in this region.

The country section of the report also provides individual market impacting factors and changes in market regulation that impact the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.   

Competitive Landscape and Corrugated Board Market Share Analysis

The corrugated board market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to corrugated board market.

Some of the major players operating in the corrugated board market are:

• DS Smith (U.K.)
• International Paper (U.S.)
• Mondi (U.K.)
• Cascades Inc. (Canada)
• AMERICAN BOX COMPANY (U.S.)
• U.S. Corrugated, Inc. (U.S.)
• Georgia-Pacific (U.S.)
• Koch Industries Inc. (U.S.)
• Menasha Corporation (U.S.)
• Rengo Co., Ltd (Japan)
• Green Bay Packaging Inc. (U.S.)
• WestRock Company (U.S.)
• Amcor plc (Switzerland)
• NIPPON PAPER INDUSTRIES CO., LTD. (Japan)
• Smurfit Kappa(Ireland)
• Sealed Air (U.S.)
• Stora Enso (Finland)
• Sonoco Products Company (U.S.)