Published by New York-based Persistence Market Research (PMR), the report estimates the market to be developing at a CAGR of 4% during the period from 2014 to 2020, reaching $173.6m at the end of the forecast period.
According to the report, the current boom in the e-commerce industry has fuelled the demand for corrugated packaging on account of the sustainability and cost-efficiency of this type of packaging.
Additionally, the development of industrial manufacturing in emerging markets is also boosting the global corrugated packaging market significantly.
The report found that North America is the biggest regional market for corrugated packaging across the globe, spearheaded by the USA.
In 2010, the US corrugated packaging market stood at $23.63bn. At a CAGR of 1.5% over the period from 2011 to 2013, the market attained a value of $24.72bn in 2013.
The market for corrugated packaging in the rest of North America developed at a CAGR of 2.1% between 2011 and 2013.
According to a U.S.-based corrugated packaging association, the Corrugated Packaging Alliance (CPA), almost 90% of all products transported across the U.S. are packed in corrugated packaging. In 2012, as per the CPA, there were approx. 1,300 corrugated packaging manufacturing facilities in Canada and the USA.
The report also looks into the corrugated packaging market in Asia Pacific, Europe, and the Rest of the World.
In Asia Pacific, China is the biggest corrugated packaging market, whereas India, Japan, China, and Indonesia are the major corrugated packaging material manufacturing centres.
The corrugated packaging industry in China is mainly driven by the development of the food and healthcare markets, which are the biggest end users of corrugated packaging in the region.
In Europe, France, Italy, Germany, the UK, Spain, and Poland are the major corrugated packaging markets, while the market in the rest of the world is dominated by Turkey and Brazil, according to the report.
The research report provides an insight into the competitive landscape of the global corrugated packaging market, identifying the current market hierarchy.
The major market players profiled in this report are International Paper, Rock-Tenn, Nine Dragons Paper, Smurfit Kappa, Georgia-Pacific Equity, Lee & Man Paper Manufacturing., Oji Holdings Corp., Packaging Corporation of America, Mondi Group, and DS Smith.
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