The global sales of corrugated plastic box are estimated to be worth USD 2.9 billion in 2021 and are anticipated to reach a value of USD 4.9 billion by 2031. Sales are projected to rise at a CAGR of 5.3% over the forecast period between 2021 and 2031. The revenue generated by corrugated plastic box in 2020 was USD 2.8 billion.
The prominent sale of the corrugated plastic box is due to the rising need for secondary packaging which can sustain various climate changes along with safeguard the packed product.
Corrugated plastic boxes market is growing in forecast period because of its lightweight and durability. The application of corrugated plastic box in packaging, storing, and transporting across different industries is pushing the market forwards because of its resistance to moisture, chemicals, and physical damage.
The increased demand for durable and reliable packaging solutions like corrugated plastic box is increasing due to rapid expansion of e-commerce industry. The shift towards sustainable and reusable packaging solutions contributing in the growth of corrugated plastic boxes as it is recyclable and offer a longer lifespan compared to traditional materials.
Global Corrugated Plastic Box Industry Assessment
| Attributes | Key Insights |
|---|---|
| Historical Size, 2020 | USD 2.8 billion |
| Estimated Size, 2021 | USD 2.9 billion |
| Projected Size, 2031 | USD 4.9 billion |
| Value-based CAGR (2021 to 2031) | 5.3% |
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A corrugated plastic box is similar to corrugated cardboard which is made from plastic sheets that are hollow from inside. Corrugated plastic box is light in weight compared to ordinary plastic or metal box which adds to the cost-benefit during transportation or shipping.
Corrugated plastic box is preferred as secondary packaging solution in various end-use industries such as automotive, electronics, medical, food & beverage and others. These corrugated plastic boxes can be reused and recycled which gains popularity among the end-users.
A corrugated plastic box is a convenient and smarter alternative to cardboard, paper, and wooden packaging. Corrugated plastic box possesses various attractive features such as waterproof exterior, reusable, light in weight, and others which gain traction among the end-users and this is anticipated to drive the demand for corrugated plastic box during the forecasted period.
The high wet strengthen of the corrugated plastic box fuels the demand for corrugated plastic boxes among the end-users. A corrugated plastic box can carry multiple items at a time as it has demarcations within the box. It also can carry heavy material due to its strength, hardness, and stiffness which makes it popular among the other ordinary boxes.
Corrugated plastic box has the capability of retaining its structure under all different types of condition which ensure the safety of the product that is packed.
Moreover, a corrugated plastic box can be made according to the requirement of the user which adds to the benefit of the corrugated plastic box. The user need not worry to dispose of the corrugated plastic box as it can be returned back to the shipper or the seller as they can use it again.
The corrugated plastic box is environmentally sustainable and viable which supports the sustainability concern. On the back of all the above factors, the demand for a corrugated plastic box is anticipated to augment during the forecasted period.
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Technology such as RFID (Radio Frequency Identification system) can be attached to the corrugated plastic box which helps to track the location of the product and reduces the chances of loss of box during transit. Also, this ensures the return of the box after its use so that it can be reused for storing or transporting some other items.
The system helps in quick identification of the location of the corrugated plastic box which gains popularity among the end-users High adoption of such technology oriented corrugated plastic boxes is offering opportunities to the manufacturers to maximize their sales in the market.
The cost limits the market growth of a corrugated plastic box as the corrugated plastic box are costlier as compared to other ordinary boxes due to their various benefit added feature. Also, the corrugated plastic box is not an entirely eco-friendly solution which hampers the market growth of the corrugated plastic box up to some extent.
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The global key players for the corrugated plastic box are
Some of the APAC players include Corlite Packaging Industries Sdn. Bhd., CLPG Packaging Industries Sdn. Bhd., Classic Enterprises Pvt Ltd, and others.
The key players operating in the corrugated plastic box market are trying to expand their production capacity by expanding their facilities to cater for the increasing demand for safe and proper secondary packaging among the end-use industries. Also, the players are trying to expand their footprint through mergers & acquisitions with local players.
The growing preference for returnable packaging in the United States fuels the demand for the corrugated plastic boxes. The corrugated plastic box can be returned back to the shipper or seller and can be reused to store or transport other items which gain popularity among the end-users.
The end-use industry prefers the returnable packaging solution in order to save cost as well as to reduce wastage which supplements the sales of a corrugated plastic box in the United States. Moreover, the high wet strength and lightweight boost the demand for a corrugated plastic box in the United States.
The increasing trade activities in India propel the demand for proper and safe secondary packaging to protect the product during shipment which creates a market growth opportunity for the corrugated plastic box.
The corrugated plastic box has been preferred due to its various benefit such as being waterproof, carries multiple items, and others. Therefore, the increasing trade of various industrial and non-industrial products creates a growth opportunity for the corrugated plastic box market.
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Corrugated Plastic Box Market
