More than 1.6 million units of paper edge protectors were consumed globally, in 2018, according to a recent research study presented by Future Market Insights (FMI). The FMI report forecasts that the global consumption of paper edge protectors will see approximately 3.4% Y-o-Y growth in 2019.
The revenue of paper edge protectors market will be primarily sustained by rapid industrialization, subsequently generating high demand for protective packaging solutions, says FMI’s analysis. With an approximate value share of 30%, East Asia’s market paper edge protectors is likely to maintain the leading position in global paper edge protector landscape. However, the report points to a strong possibility that South Asia will soon outpace the market in East Asia in terms of growth rate, attributed to robust upsurge in the industrial production levels.
F&B Represents Leading Manufacturing Industry, Generating Substantial Demand for Paper Edge Protectors
Over 40% of total consumption of paper edge protectors is registered by logistics and transportation industry, whereas manufacturing and warehousing industries continue to represent an almost similar market value share in the paper edge protectors market.
According to the report, demand for paper edge protectors will remain maximum in the food & beverages industry, garnering more than 1/4th market value share of the entire manufacturing segment. Beverages, particularly, are expected to account for significant growth in the paper edge protectors market.
Plastic-based Paper Edge Protectors Gaining Ground in Paper Edge Protectors Market
More than 65% of the total paper edge protectors that are consumed are made from recycled paperboard as a key raw material. As indicated by FMI’s analysis, among the other two raw materials, coated unbleached kraft will continue to remain dominant over solid bleached sulphate – in terms of demand growth. While the pronounced preference for recycled paperboard is in line with the rising sustainability quest, the report has identified a few unique trends related to materials, which are highly likely to shape the market for paper edge protectors market over the years to come.
Over the years, paper has been the primary material source of paper edge protectors. However, increasing contamination of paper edge protectors due to extensive usage of fiber and other particulates has increasingly led to an inclination toward the use of plastic-based edge protectors. Easy availability of polymer resins such as polypropylene (PP), excellent thermal resistance, and low maintenance requisites of plastic-based paper edge protectors will continue to elevate their preference over other materials in the paper edge protectors market. According to the study, plastic edge protectors exemplify a sustainable packaging solution compared to paper edge protectors, which prompts at a positive demand outlook facing plastic-based paper edge protectors in the near future.
Key Manufacturers Targeting Opportunities in Strategic M&A, and Production Expansion
Recently, Kunert Peiting GmbH & Co KG. announced production facility expansion at their Peiting plant in Germany. The company has commenced with the new, state-of-the-art production line for angular paperboard edge protectors.
Belgium-based Vpk Packaging Group announced the acquisition of Finland’s leading cores and paperboard manufacturer, Corenso. The acquisition is likely to push the former’s expansion across Europe and China, and will reportedly add to the former’s production of paperboard for protective edges, as a total of two coreboard mills and 13 cores plants have been sold by the latter.
FMI’s study has profiled some of the prominent companies operating in global paper edge protectors market, including Smurfit Kappa Group PLC, Packaging Corporation of America, Sonoco Products Company, Rengo Co., Ltd., N.A.L. Company, Inc., Primapack SAE, Konfida, Cascades Inc., Litco International, Inc., Kunert Gruppe, Raja S.A., Pratt Industries, Inc., Eltete Oy, Napco National, Pacfort Packaging Industries, Cordstrap B.V., VPK Packaging Group NV, Signode Industrial Group (Crown Holdings), Romiley Board Mill, and Tubembal – Paper Processing and Packaging Trade, S.A.
Source Link: https://www.prnewswire.com/news-releases/paper-edge-protectors-market-to-exceed-us-2-billion-mark-by-2019-end-future-market-insights-300836260.html
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SOURCE Future Market Insights