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Asia-Pacific Corrugated Board Packaging Market is Growing with the CAGR of 6.1% in the Forecast Period of 2022 to 2029 
Asia-Pacific Corrugated Board Packaging Market
The market is growing with the CAGR of 6.1% in the forecast period of 2022 to 2029 and expected to reach USD 153,222.26 million by 2029
PUNE, MAHARASHTRA, INDIA, December 27, 2022 /EINPresswire.com/ — The Asia-Pacific corrugated board packaging market is expected to gain market growth in the forecast period of 2022 to 2029. Data Bridge Market Research analyses that the market is growing with the CAGR of 6.1% in the forecast period of 2022 to 2029 and expected to reach USD 153,222.26 million by 2029.
Growing small and medium-sized corrugated board packaging in the food and beverage packaging industry and increasing preferences for recycled corrugated products in the packaging industry. In order to fulfill the growing demand for corrugated board packaging products in The building and construction and electronics industry, some companies are expanding their production capacities by entering into acquisition, joint venture and launching products across different regions.
Corrugated board packaging products are designed to give an extreme protection to fragile, heavy, bulky, or high-value products in storage and transit. A corrugated board packaging with several layers provides strength to the packaging product and makes it stronger than average cardboard. Different types of liners are used in the corrugated cardboard to provide the strength such as kraft liners, test liners, and chip linear.
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There are several types of corrugated board packaging such as single-phase, single-wall, double wallboard, triple wallboard, and others. Single-phase corrugated board packaging includes a single flute and one or two sheets of the linear board. Single wall corrugated board packaging involves one sheet of the corrugated medium glued and placed in between two sheets of the liner board.
Double wallboard refers to that type of corrugated board packaging consisting of two layers of the corrugated medium glued between three layers of the liner board. Triple wallboard refers to that type of corrugated board packaging, which is considered the strongest of all kinds of corrugated board packaging as it consists of three layers of the corrugated medium and the four-layer of the liner board.
Increasing purchases toward light weight corrugated boxes across industries are expected to boost the market growth however, stringent government regulations for packaging of products are expected to restrain the Asia-Pacific corrugated board packaging market. Rise in acquisition & collaboration between companies is expected to create opportunity for the market to grow but Lack of awareness about the sustainability of the packaging is causing a major challenge for the growth of the market.
Asia-Pacific Corrugated Board Packaging Market Scope and Market Size
On the basis of raw material, the Asia-Pacific corrugated board packaging market is segmented into linerboard and medium. In 2022, the linerboard segment is expected to dominate the Asia-Pacific corrugated board packaging market due to the easy processing techniques, improved efficiencies as well as easier usage. However, limited amount of strength restricts consumption in the market.
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On the basis of style segment, the Asia-Pacific corrugated board packaging market is segmented into slotted box, telescopes, folders, trays, die cut bliss, die cut interiors, sheets, and fanfold. In 2022, the slotted box segment is expected to dominate the market owing to its growing application in the food and beverage industry in the Asia-Pacific market. The easy availability in the market drives the slotted box segment in the Asia-Pacific market.
Corrugated Board Packaging Market Country Level Analysis
The corrugated board packaging market is analyzed and market size information is provided by the country, raw material, style, grade and end-use as referenced above.
The countries covered in the corrugated board packaging market report are the China, India, Japan, South Korea, Indonesia, Hong Kong, Taiwan, Singapore, Australia and New Zealand, Malaysia, Philippines and Rest of Asia-Pacific.
China is expected to dominate the Asia-Pacific region, as China has been the largest producer and consumer of corrugated packaging, which is believed to continue over the forecast period. Booming sales of processed foods and beverages, especially in country, account for the robust growth of the China market.
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Competitive Landscape and Corrugated Board Packaging Market Share Analysis
Asia-Pacific Corrugated board packaging market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, production sites and facilities, company strengths and weaknesses, product launch, product trials pipelines, product approvals, patents, product width and breadth, application dominance, technology lifeline curve. The above data points provided are only related to the company’s focus related to corrugated board packaging market.
Some of the major players operating in the corrugated board packaging market are International Paper, Mondi, NEFAB GROUP, Oji Holdings Corporation, NIPPON PAPER INDUSTRIES CO., LTD., Rengo Co., Ltd., and Sealed Air among others.
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