The corrugated fiberboard market is set for significant expansion between 2023 and 2033, with a forecasted average Compound Annual Growth Rate (CAGR) of 5.9%. In 2023, the market is expected to commence at a valuation of US$ 105.9 billion, and by the year 2033, it is projected to claim a substantial market share of US$ 187.9 billion. This growth trajectory signifies a robust market demand for corrugated fiberboard products and their diverse applications in various industries worldwide.
In 2021, there was a notable surge in the demand for combination flutes corrugated fiberboard, creating a substantial absolute opportunity amounting to US$ 24.4 billion, as reported by FMI. Furthermore, in 2022, the corrugated fiberboard market witnessed the top five key players collectively holding a market share that ranged between 10% and 15%. These statistics underscore the growing market demand for corrugated fiberboard products, particularly those utilizing combination flutes, as well as the competitive landscape within the industry.
Corrugated fiberboard is non-toxic and 100% reusable. It is lightweight and has excellent shock-absorbing capacity. The corrugated fiberboard sheet is made up of paper. Due to such benefits, fiberboard carton packaging is estimated to gain traction in the global market.
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Key features and aspects related to corrugated fiberboard:
- Structure:
- Corrugated fiberboard consists of three layers: the corrugated medium and two liners. The corrugated medium provides strength and rigidity, while the liners serve as protective outer layers.
- Composition:
- The liners of corrugated fiberboard are typically made from kraft paper, which is known for its strength and durability. The corrugated medium is made from fluted paper, and the combination of these materials creates a sturdy packaging material.
- Flutes:
- The corrugated medium features a series of parallel ridges and valleys known as flutes. The flutes contribute to the strength of the material, providing cushioning, impact resistance, and structural support.
- Variety of Flute Profiles:
- Corrugated fiberboard comes in various flute profiles, each offering different performance characteristics. Common flute profiles include A, B, C, E, and F, with variations in size and spacing to meet specific packaging requirements.
- Strength and Durability:
- The corrugated structure of the fiberboard imparts strength and durability to the material. It can withstand stacking, compression, and external forces, making it suitable for protecting goods during transportation and storage.
Top Market Trends
As a testament to its commitment to sustainability, numerous manufacturers are embracing corrugated fiberboard as a key component of their packaging solutions. By doing so, they not only reduce their carbon footprint but also actively promote a greener and more environmentally responsible future.
Corrugated fiberboard stands out as an eco-friendly champion in the realm of packaging materials. Renowned for its exceptional recyclability and sustainability, corrugated fiberboard is a renewable resource that contributes significantly to environmental conservation efforts. This versatile material can be repurposed in various ways and effortlessly broken down for recycling. Impressively, it can undergo recycling processes up to 25 times, making it a true recycling champion, all while being capable of natural decomposition.
One of the standout features of corrugated fiberboard is its unique fluted structure, which imparts remarkable durability and strength. This structure serves as a formidable shield, safeguarding packaged items from potential external damage. Furthermore, its lightweight nature helps optimize shipping costs, making it an economical choice for businesses while still providing robust protection for their products.
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Key Market Players:
- Georgia-Pacific
- W.E. Roberts
- Stora Enso
- Nuttall Packaging
- Oji Holdings Corporation
- Corrugated Packaging Alliance
- Fencor Packaging Group Limited
- Durham Box
- ABBE CORRUGATED
- Board24
- Smurfit Kappa
- Mondi
- Jaineeket Enterprises
- Shanghai Lehui Packaging and Printing Co., Ltd.
Competitive Landscape
The global corrugated fiberboard market is highly fragmented and competitive with the presence of several local and regional companies. Moreover, key players are focusing on mergers & acquisitions, expansions, collaborations, and partnerships to strengthen their positions in the market. They are also developing new corrugated fiberboards to attract a large consumer base.
Recent Developments:
- In November 2021, Boix Machinery India participated in India Corr Expo to showcase its new products. Further, the company has expanded its production capacity and enhanced the stacking strength of its specialized corrugated boxes for fruit exports to lower the rejection of fruits due to bruising amid shipping.
2. In May 2021, Mondi confirmed that it has completed the acquisition of Olmuksan. This acquisition is going to help Mondi to strengthen its position in the fast-growing corrugated market of Türkiye, as Olmuksan has a diverse customer base and was a key player in the Turkey corrugated packaging industry.
Segmentation:
By Flute Type:
- Flute A
- Flute B
- Flute C
- Combination Flutes
- Micro Flutes
By Board Type:
- Single Wall
- Double Wall
- Triple Wall
By End Use:
- Food & Beverages
- E-commerce
- Pharmaceuticals
- Cosmetics & Personal Care
- Electrical & Electronics
- Automotive
- Transportation & Logistics
- Textile
By Regions Covered:
- North America
- The United States
- Canada
- Latin America
- Brazil
- Mexico
- Rest of Latin America
- Europe
- Germany
- The United Kingdom
- France
- Spain
- Russia
- Rest of Europe
- Japan
- Asia Pacific Excluding Japan
- China
- India
- Malaysia
- Singapore
- Australia
- Rest of Asia Pacific Excluding Japan (APEJ)
- Middle East and Africa
- GCC Countries
- Israel
- South Africa
- The Middle East and Africa (MEA)
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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