Selbyville, Delaware, April 01, 2020 (GLOBE NEWSWIRE) -- As per the report published by Global Market Insights Inc., the overall U.S. corrugated and folding boxboard market was estimated at $74.5 billion in 2019 and is expected to hit $93.8 billion by 2026, registering a CAGR of 3.5% from 2020 to 2026. The market report provides a detailed valuation of the drivers and opportunities, market size & estimations, wavering market trends, competitive scenario, top winning strategies, and key investment pockets.
Corrugated and folding boxboards are being increasingly used in the packaging of homecare and personal care products. The usage of these boxes is increasing in the home care industry for the packaging of toilet cleaners, kitchen utensils, and other products used on a daily basis. The growing Hispanic population and the rising demand for luxury personal care brands in the U.S. are anticipated to support the demand for home care as well as personal care products, thereby triggering the U.S. corrugated and folding boxboard market growth in the region for packaging-based applications.
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Based on the product, the double-wall corrugated boxes represented nearly 20% in the corrugated segment back in 2019. These boxes are gaining the attention of the customer owing to several benefits they offer including greater rigidity and improved protection among others. Double fluting, which is used in the corrugated boxes, offers improved protection by providing a cushioning effect to products that are inside the package an also by absorbing shocks.
The double-walled corrugated boxes are the perfect choice in the packaging of products, which need to be stacked over the long-term, because of their rigidity, making them the best material for house moving.
Based on the application, the corrugated and folding boxboard are extensively used in the home appliance industry and are anticipated to witness high demand over the analysis time period. Home appliance products require extra protection to shocks in order to avoid damages since they are fragile and highly sensitive. Because they fulfill all the aforementioned criteria, corrugated boxes are vastly used in the home appliance industry.
Home appliances such as television, air conditioners, refrigerator, and dishwashers, as well as other home appliances are transported through these corrugated boxes in order to ensure that the safety of these products is maintained during transportation. The demand for a product is expected to grow further owing to the rising demand for the latest technology and increasing per capita income of the customers.
Key reasons for U.S. corrugated and folding boxboard market growth:
- Increasing demand in the global food & beverage sector.
- Rising E-commerce activities, which is driving the packaging sector.
- Increase in export for various commodities from U.S.
North West U.S. represents a considerable share of the overall U.S. corrugated and folding boxboard industry. The region is further expected to observe a high growth in the coming years due to its huge export values. Across the U.S., the state of California ranks second with regards to export. The state also represented nearly 21% of total exports of electronic products.
California, in 2018 held a share of over 6% in the overall export of transportation equipment, the state is also engaged in the export of several other commodities like chemical, machinery, and crops. Product demand is expected to grow further owing to the increasing demand for electronic products.
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Leading market players analyzed in the U.S. corrugated and folding boxboard market research include Smurfit Kappa Group, International Paper, Packaging Corporation of America, Bio Pappel, Danhil de México, Evergreen Packaging LLC., Victory Packaging, Accurate Box Co., Inc., Grupo Gondi, U.S. Corrugated Inc., Westrock Company, Mondi PLC., Montebello Container Company LLC., Georgia-Pacific LLC., Acme Corrugated Box Co. Inc, DS Smith Plc, and S.A. de C.V among others.
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