Asia Pacific to Dominate Dunnage Packaging Market due to Growing Automotive Industry
The global dunnage packaging market was valued at USD 2.8 billion in 2018 and is expected to exhibit a strong 5.1% CAGR over the forecast period from 2019 to 2025, according to the latest research report from Market Research Future (MRFR). The global dunnage packaging market is expected to be driven mainly by the growing packaging industry over the world. The major drivers and restraints affecting the global dunnage packaging market are profiled in detail in the report. The major trends in the global dunnage packaging market are also examined in the report. Major players operating in the global dunnage packaging market are also profiled in detail in the report. The impact of the COVID-19 pandemic on the global dunnage packaging market is also examined in detail in the report.
Dunnage packaging refers to packaging that minimizes the movement of the item being packaged during transportation. Dunnage packaging solutions include multiple sections, which can contain multiple parts and thus negate the need for separate packaging for each of the individual parts. The increasing demand for secure and convenient packaging has been the major driver for the global dunnage packaging market over the last few years. Growing innovation in packaging materials such as paper, cardboard, honeycomb, etc. is likely to be a major driver for the global dunnage packaging market over the forecast period. Due to the growing demand for sturdy packaging, packaging industry giants have made considerable investments in the development of high-grade packaging materials that protect the package and prevent damage from environmental factors such as heat and moisture as well as damage from physical events such as bumping and dropping. Increasing development of foam packaging is also likely to be a major driver for the global dunnage packaging market over the forecast period.
The growing packaging industry is likely to be the major driver for the global dunnage packaging market over the forecast period. The growing ecommerce sector has massively improved the prospects of the packaging industry in recent years. As the number of consumers using online shopping channels has grown, this has led to a growing demand for effective packaging materials that can protect the packages from the various threats presented during transportation of the package. The increasing attention being paid to the environmental viability of packaging materials is also likely to be a major driver for the global dunnage packaging market, as this is likely to drive the demand for environment-friendly packaging materials such as paper and honeycomb.
Competitive Leaderboard:
Leading players in the global dunnage packaging market growth include MJSolpac Ltd., Rehrig Pacific Company, Reusable Transport Packaging, Amatech Inc., UFP Technologies, Nefab, Schoeller Allibert, Menasha Corporation, Myers Industries, and DS Smith.
Segmentation:
The global dunnage packaging market is segmented on the basis of material type, end use industry, and region.
By material type, the global dunnage packaging market is segmented into corrugated plastics, molded plastics, aluminum, steel, fabric dunnage, corrugated paper, wood, foams, and others. The corrugated plastics segment dominates the global dunnage packaging market and is likely to retain a dominant share over the forecast period. Corrugated plastics are also known as composite dunnage. They offer the strongest protection against moisture, which is a key enemy for packages. Composite dunnage also protects the package from physical damage, due to its high mechanical strength and tensile strength.
By end use, the global dunnage packaging market is
segmented into automotive, aerospace, electronics, food and beverages, consumer goods, and healthcare. The automotive industry holds the largest share in the global dunnage packaging market and is likely to retain its dominance over the forecast period.
Regional Analysis:
Asia Pacific holds the largest share in the global dunnage packaging market and is likely to retain its dominance over the forecast period through till 2025. The growing automotive industry in Asia Pacific and the growing demand for aftermarket automotive parts in the region is the major driver for the dunnage packaging market in the region.
Browse Complete Report @ https://www.marketresearchfuture.com/reports/dunnage-packaging-market-8649
About Market Research Future:
Market Research Future (MRFR) is a reliable firm that undertakes an extensive analysis of markets in various domains. Our teams of research analysts gather relevant data through painstaking primary and secondary research that aims to give clients a complete outlook on markets of their interest. The data is compared against third-party agencies and reputed organizations for estimating valuations and revenue projections.
MRFR’s goal in providing a comprehensive coverage of the market replete with latest trends, niches, developments, and insights can be lucrative for business needs. We aim to push our clients to the forefront by guiding them with astute information for making informed decisions. Our market intelligence can track down key issues in industries and be modified as per the fluctuations in economic scenarios. The reports are customized and offered as per a specific region or country and adhere to latest policies.
Contact Us: Market Research Future Office No. 528, Amanora Chambers Magarpatta Road, Hadapsar, Pune – 411028 Maharashtra, India +1 646 845 9312 Email: sales@marketresearchfuture.com
Comments