Global Corrugated Board Market

Global Corrugated Board Market Size, Share, Growth Analysis, By Flute Type(A-Flute, B-Flute), By Board Style(Single Face, Single Wall), By End-Use(Food & Beverages, Personal Care) - Industry Forecast 2024-2031

Report ID: SQSG15H2005 | Region: Global | Published Date: February, 2024
Pages: 157 | Tables: 93 | Figures: 76

Global Corrugated Board Market News

  • In April 2022, DS Smith, a leading sustainable packaging provider in UK, announced the launch of its new corrugated box for e-commerce platforms to improve the shipment of medical devices. This new and latest corrugated board developed by DS Smith features a single-material solution in place of glued packaging with the help of a single-use plastic insert.
  • In July 2022, WestRock Company, a leading manufacturer of containerboard and packaging products in the United States have entered into a strategic agreement to acquire remaining interest in Grupo Gondi for a value of USD 970 million. After the completion of this agreement, the WestRock Company will enhance its position in the growing containerboard and packaging materials market.
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Corrugated Board Market size was valued at USD 126.2 billion in 2019 and is poised to grow from USD 134.7 billion in 2023 to USD 238.1 billion by 2031, growing at a CAGR of 6.8% in the forecast period (2024-2031).

The global corrugated board market is fairly fragmented with the presence of many well-known global and regional players operating around the globe. Major players are constantly improving their product quality and focusing on providing sustainable and eco-friendly packaging products to capture the larger market share. Moreover, companies are entering into various business partnerships, collaborations, and mergers to expand their geographical presence and strengthen their position in the global market. 'International Paper Company', 'Smurfit Kappa Group', 'WestRock Company', 'Mondi Group', 'Packaging Corporation of America', 'Nine Dragons Paper Holdings Limited', 'Lee & Man Paper Manufacturing Ltd.', 'Georgia-Pacific LLC', 'DS Smith Plc', 'Oji Holdings Corporation', 'Stora Enso Oyj', 'Svenska Cellulosa AB', 'KapStone Paper and Packaging Corporation', 'Hokuetsu Kishu Paper Co., Ltd.', 'Rengo Co., Ltd.', 'Nippon Paper Industries Co., Ltd.', 'Pratt Industries Inc.', 'U.S. Corrugated Inc.', 'Bio Pappel S.A.B. de C.V.', 'Visy Industries Australia Pty Ltd.'

Rising demand for customized corrugated board in several types of shape and sized for the packaging of material by different industries is a key factor projected to drive the growth of the global corrugated board market over the forecast period. Moreover, growing consumer awareness about the recyclable materials used in a corrugated board coupled with the extensive need for environment friendly packaging material are also expected to propel the market growth in the coming years.

Increasing prevalence of corrugated board packaging in place of plastic packaging as an alternative for many different-different applications across the globe is creating lucrative growth opportunities for corrugated board market. Many industries are adopting corrugated packaging as main packaging material because it can be created easily, recyclable, and lowering the overall shipment cost as well, which has resulted in fostering the market growth in the recent years and expected to do so in the near future.

Globally, Asia Pacific dominated the corrugated board market with a strong market share in 2021. High growth in industrialization and growing urbanization in the developing countries such as India and China are the major factors drive the market growth and demand in the region. In addition, rising awareness among consumers regarding environment effects is also anticipated to grow the demand for greener packaging in the region over the forecast period. Government initiatives such as ban on plastic products and packaging is also having positive influence on the market and accelerating the demand for corrugated boards.

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Global Corrugated Board Market

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