November 09, 2022 03:00 ET | Source: Future Market Insights Global and Consulting Pvt. Ltd. Future Market Insights Global and Consulting Pvt. Ltd.
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NEWARK, Del, Nov. 09, 2022 (GLOBE NEWSWIRE) -- The global corrugated automotive packaging market is worth US$ 1.8 Bn as of now and is expected to reach US$ 2.7 Bn by the year 2030 at a CAGR of 4.4% between 2022 and 2030.
Corrugated packaging comes across as being recyclable and eco-friendly. The key market participants are, in fact, seeing corrugated box as one of the most environmentally-friendly and captivating friendly products, that too, with lower management costs. This factor is expected to keep the momentum going for corrugated automotive packaging market.
Dependable, corrugated packaging does offer security and storage to pharmaceutical products like tubes, vial, and the other fragile products. Recycling does have its advantages. Plus, as corrugated board packaging keeps moisture at bay along with handling long shipping times, it’s being used in the form of tertiary or secondary packaging. Various processed foodstuff like meat products, bread, and the others that are perishable need such packaging materials for one-time usage.
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Shipments on the part of corrugated automotive packaging products have witnessed an increase in demand since the last few years due to growing penetration of the OEMs supply chain and also the automotive aftermarket at the commercial scale.
The automotive industry is also undergoing electrification at an alarming rate. With growing demand for the autonomous vehicles, stern mandates regarding automotive packaging are in force. Also, personalized packaging solutions are preferred for electrical components and sensitive sensors. These altering packaging trends are bound to help the corrugated automotive packaging market grow at an astounding rate going forward.
At the same time, higher costs linked with providing personalized solutions are bound to restrain the corrugated automotive packaging market. Future Market Insights has walked through these nitty-gritties with insights in its latest market study entitled ‘Corrugated Automotive Packaging Market’.
Key Takeaways from Corrugated Automotive Packaging Market
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“Easy handling of corrugated automotive packaging is expected to drive the market for corrugated automotive packaging in the forecast period”, says an analyst from Future Market Insights.
What’s with the gist of Corrugated Automotive Packaging Market?
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Key Segments of Corrugated Automotive Packaging Industry Survey
Corrugated Automotive Packaging Market By Product Type :
Corrugated Automotive Packaging Market By Layer Type :
Corrugated Automotive Packaging Market By Automotive Part :
3.1. Key Trends Impacting the Market
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