A CAGR of 4.2% is projected for the North America shipping supplies market between 2023 and 2032.
The United States is believed to have the greatest economy in the world in terms of GDP, but it is anticipated to come in second globally in terms of exports. Integrated circuits, vehicles, petroleum gas, refined and unrefined petroleum, and autos are the top US exports.
The United States was a significant exporter of refined oil, aviation equipment, medical equipment, and gas turbines in 2020. It shipped goods of approximately US$180 billion in August 2022.
During August 2021 and August 2022, US exports rose by 21.7%. Moreover, the country’s main trading partners are the Netherlands, China, Japan, Mexico, and Canada. Sales of various packaging supplies, such as drums, cartons, boxes, straps, and tapes, are expected to expand as a result of increased exports of a variety of high-value commodities.
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The need for advanced shipping supplies is expected to increase across North America as a result of the necessity for these products to be transported and delivered in acceptable shape. Government rules regarding the labelling and packaging of goods during shipping would also increase demand for shipping materials. Consequently, North America is anticipated to have significant increase in the field of shipping goods by 2032 as a result of the U.S. logistics sector’s quick rise.
Key Takeaways from North America Shipping Supplies Market
Based on material, the paper segment is expected to cover 44% of the North America shipping supplies market share by the end of 2023.
By packaging format, the corrugated boxes segment is projected to create a growth opportunity of US$ 4.6 Bn during the forecast period.
In terms of end use, the e-commerce companies sub-segment under the commercial segment is estimated to grow 1.5 times the current market value during the evaluation period.
Mexico shipping supplies market is expected to grow 1.8 times the current value during the projected time frame.
During the historical period (2017-2022), the North America shipping supplies market witnessed a CAGR of 2.5% and reached a valuation of US$ 25.2 Bn in 2022.
“Significantly growing national and international trade activities, better trading relationships, and relaxation of trade laws are some of the major growth drivers for the North America shipping supplies market.” – Says an FMI analyst.
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Key Players :
- DS Smith Plc
- Mondi Group
- Amcor Plc
- Sonoco Products Company
- WestRock Company
- Sealed Air Corporation
North America Shipping Supplies Market Outlook by Category
By Material:
- Plastic
- Polyethylene (PE)
- Polypropylene (PP)
- Polyethylene Terephthalate (PET)
- Polyvinyl Chloride (PVC)
- Others
- Paper & Paperboard
- Metal
- Wood
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By Packaging Format:
- Corrugated Boxes
- Folding Cartons
- Bags
- Crates
- Drums & Barrels
- Straps
- IBCs
- Mailers & Envelopes
- Wraps
- Labels
- Tapes
By End Use:
- Commercial
- E-commerce Companies
- Courier Service Companies
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