Corrugated shipping containers are made up of fibreboard, which is durable, sustainable, customizable and cost effective. Corrugated Shipping containers are widely used for transportation of goods, and are useful in package cushioning. Corrugated shipping containers are available in various shapes and sizes. Corrugated shipping containers are widely used in packaging of various goods such as foods, beverages, cosmetics, personal care, hazardous chemicals and other materials.
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Corrugated shipping containers are majorly used in transportation of goods from one place to another in logistics industry. Corrugated shipping containers are used to transport a variety of goods, of which, food & beverages account for the major share. However, corrugated shipping containers are expected to witness increased applications in packaging of electronic goods, over the forecast period.
Corrugated shipping containers are sandwiched between two outer layers which is also known as fluting. The advancement in technology is leading to possibilities of technology integration, paving way for more accurate real time logistics tracking, which is expected to fuel growth of the global corrugated shipping containers market.
Global Corrugated Shipping Containers market: Dynamics
Corrugated shipping containers are expected to increase its trade activities in emerging economies, such as China, Brazil, and India. However , in the upcoming years, due to rapid industrialization, electronics and automotive sector is expected to boost the growth of corrugated shipping containers over the next few years, as the corrugated shipping containers possess the property of providing various delicate parts of the electronics equipment’s.
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Due to recent growth in these industries, there is increase in demand of corrugated shipping containers among these sectors. Due to availability of various shapes in the corrugated shipping containers which is a symbol of advancement in the packaging technology is boosting growth in use of corrugated shipping containers in these regions. Slow trade activities being performed in the several regions is hampering the growth of corrugated shipping containers.
Moreover, increase in price of corrugated shipping containers is one the most restraining factors that is hampering growth of the global corrugated shipping containers market over the next few years. Apart from transportation of goods, corrugated shipping containers are also used as Point-of-sale display by various logistics service providers to enhance brand image. Such practices are expected to have a positive impact on growth of the global corrugated shipping containers market.
The U.S. is expected to lead the global corrugated shipping containers market, over the forecast period. However, with the ongoing economic growth in the Asia Pacific region, China is expected to surpass the U.S. corrugated shipping containers market, in the first half of the next decade. This is anticipated to give the Asia Pacific corrugated shipping containers enough boost, to emerge as the new global leader of the corrugated shipping containers market. The Latin America region is also expected to expand at a healthy CAGR over the forecast period, owing to increase in trade volume and higher penetration of modern trade.
Global Corrugated Shipping Containers market: Key Players
Some of the players operating in the global Corrugated Shipping Containers market are – CORRUGATED PACKAGING ALLIANCE, International Paper, DS Smith plc., Mondi Group, Nampak Limited, Nine Dragons Paper, MeadWestvaco Corporation, Smurfit Kappa Group and VPK Packaging Group.
