SAN FRANCISCO, Aug. 18, 2020 /PRNewswire/ -- The global dunnage packaging market size is projected to reach USD 4.8 billion by 2027 registering aCAGRof6.1%, according to a new report by Grand View Research, Inc. Dunnage packaging is extensively used in end-user industries, such as aerospace, food & beverage, consumer durables. These industries implement a custom dunnage solution to modify the shape of the product/s packed, which not only safeguards the packed product but also helps in saving and optimizing the cargo space.
This type of packaging is predominantly used in automotive applications on account of the rising demand for eco-friendly and 360° product safety. Herein, corrugated paper- and foam-based packaging assist in preserving lightweight packaging while lowering the transportation and handling costs, and maintaining the structural integrity of automotive components.
Key suggestions from the report:
- In terms of revenue, the foam raw material segment is projected to ascend at a CAGR of 6.8% over the forecast period
- Foam packaging solution offers Class A surface protection, cushioning support, and vibration & shock protection, which, in turn, is projected to augment the demand for foam-based dunnage solutions
- The electronics application segment is estimated to register the fastest CAGR from 2020 to 2027
- Growing demand for thermoplastics, fabric, and foams-based dunnage solutions to pack distinguished electronic components, on account of the product's ability to impart anti-static, conductive, or static dissipative properties, is likely to fuel the segment growth
- Asia Pacific is expected to witness the fastest growth during the forecast period due to rising sales and consumption of automotive vehicles
- In June 2020, Reusable Transport Packaging published a first-of-its-kind all-inclusive analysis of the Reusable Transport Packaging (RTP) industry, named- the 2020 State of the Reusable Packaging Industry Report
- On account of the growing interest in sustainability in transportation & logistics packaging, the company attempts to help manufacturers and service providers to grasp a holistic view of eco-friendly processes, packages, products, and distribution practices
Read 145 page research report with ToC on "Dunnage Packaging Market Size, Share & Trends Analysis Report By Raw Material (Fabric, Corrugated Plastic), By Application (Automotive, Electronics), By Region, And Segment Forecasts, 2020 - 2027"at: https://www.grandviewresearch.com/industry-analysis/dunnage-packaging-market
On the basis of raw material, the corrugated plastic segment led the global market in 2019 and is projected to expand further at the fastest CAGR of 7.1% from 2020 to 2027. This can be attributed to the rising demand for the material as it is lightweight, highly durable, eco-friendly, and inexpensive. Corrugated plastic is extensively used in the electronics industry as the material can be molded into different sizes and shapes.
Asia Pacific is expected to be the largest as well as the fastest-growing regional market over the forecast years on account of rising product demand from the electronics, aerospace, and automotive end-use industries. Furthermore, rapid urbanization in countries, such as China, India, and Australia, has led to the increased consumption of FMCG, automotive, and consumer durable goods, which require dunnage packaging. This, in turn, will help boost the market growth.
Grand View Research has segmented the global dunnage packaging market on the basis of raw material, application, and region:
- Dunnage Packaging Raw Material Outlook (Revenue, USD Million, 2016 - 2027)
- Corrugated Plastic
- Moulded Plastic
- Aluminium
- Steel
- Fabric
- Corrugated Paper
- Wood
- Foams
- Others
- Dunnage Packaging Application Outlook (Revenue, USD Million, 2016 - 2027)
- Automotive
- Aerospace
- Electronics
- Food & Beverage
- Consumer Durables
- Healthcare
- Others
- Dunnage Packaging Regional Outlook (Revenue, USD Million, 2016 - 2027)
- North America
- The U.S.
- Canada
- Mexico
- Europe
- The U.K.
- Germany
- France
- Spain
- The Netherlands
- Asia Pacific
- India
- China
- Japan
- Australia
- Central & South America
- Brazil
- Argentina
- Middle East & Africa
- UAE
- List of Key Players of Dunnage Packaging Market:
- ORBIS Corporation (Menasha Corporation)
- Corplex (DS Smith)
- NEFAB GROUP
- UFP Technologies, Inc.
- Reusable Transport Packaging
- Amatech Inc.
- MJSolpac Ltd.
- Ckdpack
- GWP Group
- Interior Packaging Design, LLC
- Packaging Corporation of America
- Dunnage Engineering
- Salco Engineering and Manufacturing Co., Inc.
- Package Design & Mfg
- KEENER Corporation
- JIDA Industrial Solutions
- Artisanz Fabrication and Machine, LLC
- Schoeller Allibert
Find more research reports on Plastics, Polymers & Resins Industry, by Grand View Research:
- Pouches Market - Rising demand for low-cost, convenient, shelf appealing, and lightweight packaging by end-use industries, including food and beverages, healthcare, personal care and cosmetics, and home care, is likely to fuel market growth.
- Medical 3D Printing Plastics Market - The growing aging population, increasing healthcare awareness, and the COVID-19 pandemic situation are some of the major factors driving the market for medical 3D printing plastics.
- Biodegradable Plastic Market - Governments prohibiting the use of single-use plastic coupled with rising awareness among the public regarding ill-effects of plastic waste are among the key trends stimulating the market growth.
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About Grand View Research
Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.
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