Manufacturing industry across the globe is expected to pave lucrative growth opportunities for protective packaging market in the forthcoming years on account of innovation, advancements, productivity and rising expenditure on safety of products. Apart from this, growing environmental concerns have been significantly contributing towards stimulating demand supply of protective packaging across the globe. Besides, there are possibilities of the restraining growth of protective packaging market due to constant changes in package design of cases.
A recent report anticipates that the protective packaging market will expand at a steady 5.3% CAGR over the expected period, 2016-2026, for touching an assessment of approximately US$ 41,822.8Mn by the end of 2026. Companies namely Ranpak Corp., BASF SE, Sealed Air Corporation, Pregis Corporation, Advanced Protective Packaging Ltd, Cascades Inc. and Sonoco Products Company among others are likely to be witnessing a significant growth across the globe. Major players as well as manufacturers are planning to highly focus on the marketing plans such as product effectiveness, innovations as well as advancements together with significant development of their product line.
Pregis LLC Acquires Rex Performance Products for Expansion Purpose
Key players and manufacturers must note that Pregis LLC has been taking immense efforts for strengthening its position in the protective packaging market across the globe by making acquisitions of other beneficial enterprises. Pregis LLC recently announced that it has acquired RPP (Rex Performance Products) for turning out to be one of the leading foam producers, especially in North America. The notable point is that this acquisition is adding up warehouse space of more 100,000 sq. ft. to Pregis LLC.
The focal point is that this acquisition will help Pregis LLC in raising its position to a level where it turns out to be the leading producer of the engineered foam in North America. The company is planning to provide its customers with an expanded portfolio, with regards to protective packaging solutions. Pregis LLC is of the point of view that together with RPP (Rex Performance Products), the company will offer its products with enhanced foam technology, which in turn will help them in strengthening their position in the global market as well as expands their customer base.
Ranpak Corp. Acquires e3neo for Expanding Its Capabilities
Ranpak Corp. has acquired e3neo, in order to expand the capabilities of the company, thereby making provisions of products which would be favorable in high-volume packaging environs. Ranpak Corp. will benefit highly with the optimal solutions that e3neo provides, in order to meet the increasing demands of existing as well as emerging customers. e3neo has improved the fulfillment operations, service and implementation as well as approach of consulting towards its customers that are spread across various geographies and industries.
Key players and manufacturers must note the point that the solutions provided by e3neo ranges from the integration with the consumer warehouse management software, in order to optimize packaging dimensions, closing boxes, rightsizing, in-the-box merchandise fixation and carton erection. With the help of project management, elements have been combined for the purpose of cost reduction and increasing productivity.
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