Plastic corrugated sheets are used for making packaging for various types of products. These plastic corrugated sheets are manufactured by high impact polymer sheets which have neutral pH factor. These sheets are subjected to high temperature for molding into required shapes of packaging. Plastic corrugated packaging’s quality can be enhanced by using additives which can enhance the properties like, UV protection, flame retardant, color customization and corrosive retardant. Crates, folding boxes, trays inserts and dividers, bins and racks are the types of packaging made using plastic corrugated packaging sheets.
COVID-19 Impact analysis
- COVID-19 pandemic has shut-down the production of various products in the plastic corrugated packaging industry attributed to the lockdown in countries worldwide. This has hampered the growth of plastic corrugated packaging market in 2020 and, is likely to revive in 2021.
- COVID-19 has already affected the sales of plastic corrugated packaging in the second and third quarter of 2020 and is reviving in 2021.
- The major demand for plastic corrugated packaging was previously noticed from countries including the U.S., Germany, Italy, UK, and India, which are negatively affected by the spread of the corona virus, thereby declining the demand for plastic corrugated packaging.
- Further, potential impact of the lockdown is currently vague and financial recovery of companies is totally based on its cash reserves. Plastic corrugated packaging manufacturers can afford a full lockdown only for a few months, after which the players have to modify their investment plans. For instance, various players in the market halted their production activities for several weeks to reduce the expenses. Whereas few players also adopted employee lay-offs to sustain during the COVID-19 health crisis.
- Plastic corrugated packaging manufacturers are expected to focus on protecting their workforce, operations, and supply chains to respond toward immediate crises and find new ways of working after COVID-19. For instance, provision of sanitizers, maintaining social distancing, as well as ensuring the vaccination of every employee in the company can assist in promoting the health & safety of the workforce.
Top Impacting Factors
Rising demand of effective and efficient packaging from food and beverages industry is a key factor which is driving the market of plastic corrugated packaging market. Evolving global market of e- commerce is another factor which is creating the opportunities of plastic corrugated packaging market growth. In addition, due to government regulation for the sustainable and environment-friendly packaging, and awareness of consumer about the ill effect of unsustainable packaging waste, market of plastic corrugated packaging market is expected to grow in near future. Lack of awareness about plastic corrugated packaging and use of cardboard packaging are the restrain in the market.
Market Trends
- Plastic corrugated packaging market is experiencing the growth due to rising demand for frozen cigarette foods, dry foods.
- Plastics corrugated boxes are majorly used for pharmaceuticals, food & beverages, tobacco, and durable goods.
- Rising demand of e-commerce in recent years has boosted up the market and is expected to contribute in growth for the forecasted period. Door to door delivery concept is playing a key role here.
- After pandemic, no contact delivery has been appreciated by many key players in fast food industry such as Mc Donald’s, KFC and Dominos. This is expected to boost the demand of plastic corrugated packaging.
Key Benefits of the Report
- This study presents the analytical depiction of the plastic corrugated packaging market along with the current trends and future estimations to determine the imminent investment pockets.
- The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the plastic corrugated packaging market share.
- The current market is quantitatively analyzed to highlight the plastic corrugated packaging market growth scenario.
- Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
- The report provides a detailed plastic corrugated packaging market analysis based on competitive intensity and how the competition will take shape in coming years.
Key Market Segments
- By Packaging Type
- Folding Boxes
- Trays
- Crates
- Inserts and Dividers
- Bins and Racks
- By Material
- Polypropylene (PP)
- Polyethylene (PE)
- Polyethylene Terephthalate (PET)
- Polycarbonate (PC)
- By End-use Industry
- Food & Beverages
- Agriculture
- Healthcare
- Automotive
- Electrical & Electronics
- By Region
- North America
- Europe
- France
- Germany
- Italy
- Spain
- UK
- Rest of Europe
- Asia-Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia-Pacific
- LAMEA
- Brazil
- South Africa
- GCC
- Argentina
- Rest of LAMEA
Key Market Players
- Samuel Grant Packaging
- Minnesota Diversified Industries, Inc.
- Technology Container Corp
- American Containers Inc.
- Yamakoh, Co., Ltd.
- Dynapac Co. Ltd
- Coroplast
- FlEXcon Company, Inc.
- Söhner Kunststofftechnik GmbH
- DS Smith Plc