Projected to increase from an estimated valuation of US$ 2.91 billion in 2023 to reach US$ 4.56 billion by 2033, the paper edge protectors market is anticipated to demonstrate a steady Compound Annual Growth Rate (CAGR) of 4.5% during the period from 2023 to 2033.
The global surge in industrialization is opening up fresh avenues for paper edge protector manufacturers, who are leveraging enhanced supply chain capabilities to explore untapped markets worldwide. Recognizing the advantages of cost-effective labor and rapid growth, major industry players are strategically relocating their operational bases to the Asia Pacific region.
In Europe, recycled paperboard stands out as the favored choice for paper edge protector manufacturers, driven by its eco-friendly characteristics. With an impressive 74% of paper and paperboard recycled in 2020, according to the European Paper Recycling Council (EPRC), the region has solidified its commitment to sustainability. The utilization of paper at an average rate of 3.8 times, surpassing the global average of 2.4 times in 2020, reflects a strong dedication to environmentally conscious practices. The United Kingdom, in particular, is poised for substantial growth, with a projected CAGR of 2.2% during the forecast period, supported by stringent governmental regulations and advancing recycling infrastructure.
In the Asia Pacific region, East Asia is poised to dominate the paper edge protector market, particularly in China. The booming industrialization in China has led to increased transportation and shipping demands, consequently driving the need for secure packaging solutions. This dynamic is expected to result in an impressive CAGR of 6.7% for China’s paper edge protector market.
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In North America, the United States is set to play a pivotal role in the global paper edge protector market. Government initiatives to reduce plastic usage and increased production within densely populated industries are creating opportunities for the packaging sector and are forecasted to contribute to a healthy CAGR of 3.7% in the United States over the forecast period.
The global market for paper edge protectors is anticipated to gain rapidly in the foreseen years. This is primarily on the basis of sustained and rapid industrialization globally. The rising demand presented by different global industries such as pharmaceuticals, food & beverage, and manufacturing, is likely to be the driving force for consistent growth witnessed by the paper edge protectors market over the forecast period of 2023 to 2033.
Countries such as the United States, Japan, and China are witnessing a rapid increase in production levels which is expected to present opportunities for the market. Industries in these regions are increasing their production capacity with the use of enhanced technology. This is increasing the demand for the transportation of goods and correspondingly surging the market for paper edge protectors.
Key Takeaways from the Market:
- The market is expected to grow at a CAGR of 4.5% over the forecast period reaching a valuation of US$ 4.56 billion.
- Till the end of the year 2023 the market is expected to reach a valuation of US$ 2.91 billion.
- The United States market is anticipated to grow at a promising CAGR of 3.7% over the forecast period.
- The market in China is likely to grow at a significant CAGR of 6.7% backed by increased industrialization in the region.
- The recycled paperboard segment is expected to grow at a CAGR of 4.1% as it provides an eco-friendly solution for the packaging industry.
- The United Kingdom is likely to be the dominant region in Europe and grow at a CAGR of 2.2%.
Competition Analysis for Key Market Players
- The big players in the global market for paper edge protectors are engaged in acquisitions of smaller players to expand their portfolio of products and increase production capacity. They are also ensuring to provide better products via enhanced technology for manufacturing. This provides key players to get a competitive edge. Key players are also engaged in collaborations to spread their reach and increase business. Some to the key players in the market include Smurfit Kappa Group Plc, VPK Packaging Group NV, Sonoco Products Company, Packaging Corporation Of America, Rengo Co., Ltd., N.A.L. Company, Inc., Primapack SAE., Konfida., Cascades Inc., Litco International, Inc.
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The Key Players Are:
- Smurfit Kappa Group Plc
- VPK Packaging Group NV
- Sonoco Products Company
- Packaging Corporation Of America
- Rengo Co., Ltd.
- N.A.L. Company, Inc.
- Primapack SAE.
- Konfida.
- Cascades Inc.
- Litco International, Inc.
- Kunert Gruppe
- Raja S.A.
- Eltete Oy
- Napco National
- Pacfort Packaging Industries
- Cordstrap B.V.
- Signode Industrial Group (Crown Holdings)
- Romiley Board Mill
- Pactiv LLC
Recent Development in the Market:
- VpK Packaging Group was involved in acquiring a leading manufacturer of paper edge protectors from Finland- Corenso. This acquisition is expected to provide VpK Packaging group with the power to penetrate the European market and also get access to the Chinese market. The company expects to grow its production capacity and expand its revenue via this acquisition.
Key Segments
By Material Type:
- Solid Bleached Sulphate
- Coated Unbleached Kraft Paperboard
- Recycled Paperboard
By Product Type:
- Angular
- Round
By End-use Industry:
- Logistics & Transportation
- Warehousing
- Manufacturing
- Food & Beverage
- Building & Construction
- Personal Care & Cosmetics
- Pharmaceuticals
- Electrical & Electronics
- Chemicals
- Others (Homecare, Toiletries, etc.)
By Region:
- North America
- Latin America
- Asia Pacific
- MEA
- Europe
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