"By 2027, Global Dunnage Packaging Market is projected to reach approximately US$ 5 Bn, witnessing a moderate CAGR of 5.0% during the forecast period (2019-2027)."
Rapidly growing demand from various end use industries such as automotive, aerospace, building & construction, electronics, consumer durables, food & beverages, etc is significantly boosting the growth of the global dunnage packaging market.
Dunnage packaging is highly adopted in the building sector owing to its qualities and benefits. It is strong enough to withstand external factors such as heat and abrasive weather conditions.
Various properties of dunnage packaging such as low cost, durability, environment friendliness result in the increasing adoption of the dunnage packaging for various applications. This packaging method is highly promising and advantageous for various products in many of the end use industries. All these factors are together contributing to the growth of global dunnage packaging market.
In addition to this, another factor boosting the growth of the dunnage packaging market is the increasing demand of environmental-friendly packaging in various industries. Moreover, stringent environmental regulations and high demand of recyclable packing materials have boosted the growth of smart and innovative packaging in various end use industries. These factors support the growth of dunnage packaging market globally.
In terms of Material Type, Corrugated Plastic Is Expected To Account For Significant Share Of Global Dunnage Packaging Market
Corrugated plastic had accounted for xx% share of global dunnage market in 2018 and is expected to remain dominant during the forecast period.
In global dunnage packaging market, the corrugated plastic material segment is estimated to show significant growth over the forecast period owing to the fact that it can be molded into various sizes and shapes. Corrugated plastics materials are used in wide range of applications due to its versatility, low cost, and easy availability. Moreover, Corrugated plastic material is also preferred over other material types owing to properties such as durability, design flexibility, flowability, compressive strength, environmental resistance and lesser weight. These factors ultimately boost the share of corrugated plastic in global dunnage packaging market.
By End-Use Industry, Automotive industry segment is expected to account for majority of share of global Dunnage packaging market
Automotive Industry segment accounted for significant share of XX% of global dunnage packaging market in 2018
Dunnage packaging is basically used to safeguard the cargo which is to be transported. The eco-friendliness and cost effectiveness of the dunnage packaging material are the primary factors which are expected to boost the market growth in the automotive industry. Along with this, producing the minimum possible waste and capability of keeping cargo safe resulted into the packaging of cargo at the cheaper rates. In the automotive industry, there is a variety of parts which needs to be transported from the suppliers on the regular basis. Dunnage packaging offers qualities that are strong enough to withstand extrernal factors such as heat. All these factors are together boosting market growth for global dunnage packaging material.
Asia Pacific region accounted for significant share of xx% of global dunnage packaging market in 2018
Asia pacific is projected to be the largest and fastest growing market for the global dunnage packaging market. High growth in the electronics and automotive industries in Asia Pacific region is expected to boost the growth of the dunnage packaging market. These industries are growing at a high pace in the Asia Pacific Region. China, India, and Japan are projected to be the major market for the dunnage packaging market. In addition to this, the presence of global and local manufacturers in this region is one of the important factors in propelling market growth in this region. Furthermore, increased R & D activities in emerging economies are also positively impacting the dunnage packaging market. All these factors are responsible for the dunnage packaging material in the Asia Pacific region.
Leading players of dunnage packaging are DS Smith (UK), Allibert (Netherlands), Menasha Corporation (US), Nefab (Sweden), UFP Technologies (US), Rehrig Pacific Company (US), Reusable Transport Packaging (Florida), Schoeller Myers Industries (US), MJSolpac Ltd. (UK), Amatech Inc. (US), among others. Key manufacturers are continuously investing in R & D activities. Expansion, merger, and acquisition are among the key strategies followed by the global players of dunnage packaging.
Based on Material Type
- Corrugated Plastic
- Molded Plastic
- Corrugated Paper
- Fabric Dunnage
- Others (Glass, Anti-Static, and Rubber)
By End-User Industry
- Consumer Durables
- Food & Beverages
- Others (Construction, Chemicals, and Oil & Lubricants)
- North America
- Asia Pacific
- Latin America
- Middle East & Africa