The corrugated fiberboard market is set for significant expansion between 2023 and 2033, with a forecasted average Compound Annual Growth Rate (CAGR) of 5.9%. In 2023, the market is expected to commence at a valuation of US$ 105.9 billion.
Corrugated fiberboard, commonly known as corrugated cardboard, is a versatile and widely used packaging material composed of three layers: an inner fluted layer sandwiched between two outer liner layers. This construction provides strength, durability, and cushioning properties, making corrugated fiberboard suitable for various packaging applications across industries.
The corrugated fiberboard market is set for significant expansion between 2023 and 2033, with a forecasted average Compound Annual Growth Rate (CAGR) of 5.9%. In 2023, the market is expected to commence at a valuation of US$ 105.9 billion, and by the year 2033, it is projected to claim a substantial market share of US$ 187.9 billion. This growth trajectory signifies a robust market demand for corrugated fiberboard products and their diverse applications in various industries worldwide.
Corrugated fiberboard is non-toxic and 100% reusable. It is lightweight and has excellent shock-absorbing capacity. The corrugated fiberboard sheet is made up of paper. Due to such benefits, fiberboard carton packaging is estimated to gain traction in the global market.
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Market Trends
Corrugated fiberboard stands out as an eco-friendly champion in the realm of packaging materials. Renowned for its exceptional recyclability and sustainability, corrugated fiberboard is a renewable resource that contributes significantly to environmental conservation efforts. This versatile material can be repurposed in various ways and effortlessly broken down for recycling. Impressively, it can undergo recycling processes up to 25 times, making it a true recycling champion, all while being capable of natural decomposition.
As a testament to its commitment to sustainability, numerous manufacturers are embracing corrugated fiberboard as a key component of their packaging solutions. By doing so, they not only reduce their carbon footprint but also actively promote a greener and more environmentally responsible future.
Market Drivers:
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Key Market Players:
Competitive Landscape
The global corrugated fiberboard market is highly fragmented and competitive with the presence of several local and regional companies. Moreover, key players are focusing on mergers & acquisitions, expansions, collaborations, and partnerships to strengthen their positions in the market. They are also developing new corrugated fiberboards to attract a large consumer base.
Recent Developments:
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Segmentation:
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Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market.
Feb 16, 2024