As per FMI, the global corrugated fiberboard market is expected to be valued at US$ 175.7 Bn in 2032 and exhibit growth at a CAGR of 5.8% in the forecast period from 2022 to 2032.
Corrugated fiberboard has gained immense popularity due to its usefulness in the e-commerce industry. Rapid development of digital printing technology is also expected to aid growth. Besides, its applicability in various end-use industries like food & beverage, pharmaceuticals, electrical and electronics, and textile would drive demand in the forthcoming years.
Consumers are increasingly adopting corrugated fiberboard packaging as it is sustainable and free from toxic elements. In certain parts of the globe, government agencies have banned a few packaging materials due to their content of highly toxic materials. Thus, demand for corrugated fiberboard is anticipated to grow at a rapid pace in the evaluation period.
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High quality, lightweight, and cost-efficient nature of corrugated fiberboard is another factor that would aid growth. It can also be recycled very easily as it is made from paper and reused multiple times.
Key Takeaways: Global Corrugated Fiberboard Market
- By flute type, the combination flutes corrugated fiberboard segment is expected to grow 2.1x by the end of 2032.
- The global corrugated fiberboard market was valued at around US$ 94.1 Bn in 2021.
- By end use, the e-commerce segment is anticipated to generate a share of nearly 11% in the forecast period and exhibit growth at a CAGR of 8.1% from 2022 to 2032.
- Top five key players are likely to hold 10-15% of the corrugated fiberboard market share in 2022.
- Total sales of corrugated fiberboard are estimated to reach US$ 20.9 Bn across North America by 2022.
“Demand for eco-friendly corrugated fiberboard is set to surge in the flourishing e-commerce and food & beverage industries over the forthcoming years. Besides, ability of these fiberboards to reduce the overall shipment cost backed by their lightweight nature would drive the market,” comments a FMI analyst.
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Demand for Customizable Corrugated Fiberboards to Fuel Growth
Corrugated fiberboard is mainly used in the packaging industry due to its various properties like customizability, sustainability, and convenience. It is made up of paper and sheets. Printing of logos or brand names of prominent companies becomes easier on corrugated fiberboard. It can also be provided with certain shapes and sizes according to requirements. Thus, key players are using corrugated fiberboard to surge their brand value and recognition.
Expansion of the E-commerce Industry to Drive the Corrugated Fiberboard Market
The packaging industry plays a very important role in the development of the e-commerce sector. E-commerce has become an alternative to street shopping. People nowadays prefer buying products online as it is way more convenient than conventional shopping.
The e-commerce industry needs to deliver products securely and efficiently to customers. Thus, sturdy packaging helps in satisfying the needs of customers. Corrugated fiberboard has various properties like extra cushioning, versatility, durability, and convenience, which would boost its adoption in the e-commerce industry.
In addition, corrugated fiberboard protects products from damage during the long process of transportation and logistics. It is also capable of withstanding pressure, which helps in keeping delicate materials safe.
Competitive Landscape: Global Corrugated Fiberboard Market
Some of the leading companies present in the global corrugated fiberboard include 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. among others.
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Get More Valuable Insights on Corrugated Fiberboard Market Report
Future market insights, in its new report, offers an unbiased analysis of the global market for corrugated fiberboard by flute type (flute A, flute B, flute C, combination flutes, and micro flutes), board type (single wall, double wall, and triple wall), and end use (food & beverages, e-commerce, pharmaceuticals, cosmetics & personal care, electrical & electronics, automotive, transportation & logistics, and textile) across seven regions.
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