Consumption of corrugated automotive packaging is projected to rise at a CAGR of 4.4% from 2022 to 2030, and the market is predicted to attain an estimated net worth of US$ 2.7 Bn by 2030. Currently, sales revenue from the corrugated automotive packaging market amount to US$ 1.8 Bn.
Corrugated board packaging is a type of packaging that is used to transport, store, and protect a variety of commodities. The use of corrugated board packaging is expanding quickly because of its advantages, including biodegradability, light weight, and recyclability.
Electric vehicles (EVs) are becoming more popular, which will increase the use of electrical and electronic components in the automotive sector in the years to come. This will raise demand for corrugated automotive packaging. 2% of the world market for corrugated packaging is made up of corrugated packaging for automobiles.
A comparison and review analysis of the dynamics of the corrugated automotive packaging market, which is primarily influenced by a number of industry factors along with some clear influences regarding the growing need for high capital investment along with less return on investment over the long term and its susceptibility to extreme weather conditions, is anticipated to impede the market’s growth.
Global Corrugated Automotive Packaging Market: Major Players
Kunert Wellpappe Biebesheim
Pacific Packaging Products
Sunbelt Paper and Packaging
Sealed Air Corporation
Smurfit Kappa Group
Global Corrugated Automotive Packaging Market: By Types
Global Corrugated Automotive Packaging Market: By Applications
Utilizing more resilient, adaptable, and secure materials in the production of corrugated car packaging is one of the most recent market innovations. Smurfit Kappa Group created a revolutionary and environmentally friendly water-resistant paper in May 2022. According to an estimate by FMI, the market for corrugated vehicle packaging is predicted to grow by 360 basis share points (BPS) in H1-2022 (O) compared to H1-2021. However, there has been a 40 BPS increase in BPS change over the H1-2022 predicted and outlook periods. The reason for the change in growth rate is that corrugated automotive packaging adoption is rising quickly due to its advantages, including light weight, biodegradability, and recyclability.
The growth of the automotive industry due to the prevalence of connectivity technologies, electrification, autonomous operations, and passenger comfort are some of the major and vital factors that will likely augment the growth of the corrugated auto industry. These include increasing penetration of automotive aftermarket and original equipment manufacturer supply, rising number of applications in various end use sectors, increasing need for the products for customization packaging, and growth of the automotive industry. On the other hand, the automotive industry is developing more complex driver assistance systems, and modern cars are incorporating more electronics, which will lead to enormous potential that will fuel the expansion of the corrugated automotive packaging market in the aforementioned ways.
The market expansion of corrugated vehicle packaging will be constrained by the rising demand for large capital investments and the subsequent long-term low rate of return on those investments during the aforementioned anticipated time period. Due to rising costs, small and medium-sized businesses will have a harder time entering the market, which will pose the biggest impediment to the sector’s expansion.
This report on the corrugated automotive packaging market includes information on new recent developments, trade regulations, import export analysis, production analysis, value chain optimization, market share, the impact of domestic and local market players, analyses of 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, and product pricing.