Corrugated Equipment Market By Equipment (HQ Flexo, Non-HQ Flexo), By End-user (Textile Goods, Electronic & Consumer Goods, Food & Beverages, Home & Personal Goods), Region, Global Industry Analysis, Market Size, Share, Growth, Trends, and Forecast 2021 to 2028
Newark, NJ, Oct. 21, 2021 (GLOBE NEWSWIRE) -- As per the report published by Fior Markets, the global Corrugated Equipment Market is expected to grow from USD 228.5 Million in 2020 and to reach USD 310.32 Million by 2028, growing at a CAGR of 3.9% during the forecast period 2021-2028.
A corrugator, also known as corrugation equipment, is a piece of machinery that combines three, five, or seven sheets of paper in a continuous process to create a single, double, or triple wall board. Corrugated boxes are a common sight in everyday life. It provides an easy-to-use and renewable source of packaging for almost all goods. Corrugated cardboard is an item that is used frequently and also on a regular basis. Corrugated paperboard containers are often used in both industrial and consumer products packaging. The need for corrugated boxes is growing, owing to better packaging and the development of businesses that sell cosmetics, soaps, car parts, crockery, glassware, pharmaceuticals, and biscuits. Every nation’s manufacturing sector is entirely dependent on the corrugated box business (which includes everything from food to refrigerators). Box plants are usually placed near industrial enterprises since corrugated boxes cannot be shipped across long distances at a reasonable cost. Extremely high-quality corrugated cardboard is required to set up a corrugated box manufacturing equipment.
Global paper consumption is continuously growing year after year and has just surpassed 400 million tonnes per year. The United States, China, and Japan account for more than half of this consumption. The global expansion of packaging machinery is due to the expanding sustainable packaging sector and the penetration of paper and paperboard goods. End-use sectors such as food & beverage, pharmaceuticals, and electrical & electronics sector are moving their packaging preferences to environmentally friendly materials such as paper & paperboard; as a result, the corrugated equipment market will be driven by growing demand for green packaging. Because corrugated equipment is big and capital costly to build, manufacturers confront several obstacles in the development of the equipment, especially given the competitive nature of the industry. End-user industries are continuously seeking world-class technology and expecting more efficiency and return on investment from industrial equipment; as a result, the major issue for industry players is fast design and development. Since its start, the covid-19 pandemic has had a substantial influence on the worldwide market, as well as an unprecedented and disruptive impact on the global economy.
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Barry-Wehmiller, Koenig & Bauer, Bobst Group, OMET, Mark Andy, Wolverine Flexographic, Edale UK, MPS Systems, Rotatek, Heidelberger Druckmaschinen, Star Flex International, Simon Corrugated Machinery, Sun Automation, Walco, Oppliger SRL, BHS Corrugated, Lamina System, Mitsubishi Heavy Industries Machinery Systems, are the key players in corrugated equipment market.
For instance, In 2020, Koenig & Bauer launched a new CorruJET machine designed particularly for the corrugated sector. The firm has a diversified distribution network, and the corrugated equipments generate a significant amount of money.
HQ Flexo segment dominated the market and held the largest market share of 60.7% in the year 2020
Based on equipment, the global corrugated equipment is segmented into HQ flexo and Non-HQ flexo. HQ flexo segment held the largest share of 60.7% in the year 2020. Also, this segment is expected to expand at a healthy rate in the overall market. High-grade flexographic machines are a highly advanced set of mechanisms that can print in four or more colours at the same time to create excellent print quality. These machines operate at a rapid rate and can handle big batches or intricate patterns. Due to its high-quality finish, HQ flexo post-print is thriving in the corrugated sector. Paperboard box manufacturers across the world are growing demand for HQ Flexo in the future years by making existing contracts more profitable and pursuing new markets.
Electronic & Consumer Goods segment dominated the market and held the largest market share of 26.8% in the year 2020
Based on end-user, the global corrugated equipment market is segmented into textile goods, electronic & consumer goods, food & beverages, home & personal goods. The electronic & consumer goods segment accounted for 26.8% of global corrugated equipment market in 2020. The packaging segment of the electronics industry is undergoing a revolution. Biodegradable packaging materials are being used by most electronics manufacturers. The demand for paperboard is projected to rise during the forecast period as a result of numerous worldwide regulations promoting sustainable practises. Furthermore, in the next years, demand for corrugated equipment will be driven by the expansion of the electronics and consumer goods sector, particularly in South Korea, China, and the United States. Nevertheless, Food & Beverages segment will dominate the market for corrugated equipment by 2028.
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Regional Segment of Corrugated Equipment Market
North America (U.S., Canada, Mexico)
Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)
Asia-Pacific (China, Japan India, Rest of APAC)
South America (Brazil and Rest of South America)
Middle East and Africa (UAE, South Africa, Rest of MEA)
Based on geography, the corrugated equipment market is classified into North America, Europe, Asia-Pacific, Middle East & Africa, and South America. North North American region held the largest market share of 25.16% in the year 2020. Due to the rising usage of corrugated box manufacturing machines in different industrial applications, the corrugated equipment market in Asia Pacific is projected to have a leading position. The expansion of the retail business has been fuelled by rising disposable income and increasing Internet penetration, which is anticipated to boost demand for corrugated box producing equipment. In 2028, Europe will have the second-largest revenue. The area will experience significant development as a result of growing demand for ready-to-eat packaged food goods, particularly in the United Kingdom, Germany, Italy, and France. The region's corrugated equipment market will be fuelled by the introduction of new cutting-edge corrugating machines. In the next years, market growth will be supplemented by the rapid expansion of the e-commerce industry and a shifting trend of consumers embracing ecologically sustainable packaging.
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About the report:
The global corrugated equipment market is analysed based on value (USD million). All the segments have been analysed on global, regional and country basis. The study includes the analysis of more than 30 countries for each segment. The report offers in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining the key insights of the market. The study includes porter’s five forces model, attractiveness analysis, raw material analysis, and competitors’ position grid analysis.
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