Major solid board manufacturers are focusing on product innovation to meet the needs of food & beverage, and building & construction end use industries.
DUBAI, UAE / ACCESSWIRE / March 5, 2020 / The global solid board market will reach a valuation of US$ 13.2 Bn in 2029, witnessing a steady growth outlook throughout the forecast period (2019 - 2029). As per a new study by Future Market Insights (FMI), the market for solid board is largely influenced by increasing demand for lightweight, space-efficient, and durable packaging formats, for complex logistical operations and the thriving trend of sustainability.
"Solid boards are ideal for packaging frozen food, fresh food, and flowers. The use of solid boards offers a competitive advantage over other packaging formats, as these can improve distribution speed, cut storage cost, and raise packaging efficiency," reveals the FMI report.
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Key Research Findings of FMI's Solid Board Market Study
- Global solid board market revenues will expand 1.5 times between 2019 and 2029.
- Solid board produced from virgin paper will account for a major market share owing to printability characteristics.
- Boxes continue to be the highly preferred application area, driven by environmental concerns.
- The food & beverages industry will remain a key consumer owing to higher consumption of fresh and frozen foods.
- Europe is the key regional market, while the Asia Pacific is set to generate lucrative growth opportunities.
Key Growth Drivers - Solid Board Market
- Rapid developments in terms of printing technologies and the popularity of e-commerce is a key growth driver for solid board manufacturers.
- The rise in sustainability trends is for packaging is projected to increase consumption of solid board.
- Characteristics of moisture resistance, maximum stiffness, and ideal protection is increasing preference for solid board over other rigid packaging materials.
Key Impediments - Solid Board Market
- Environmental impact and waste management concerns over the use of virgin paper for solid board materials is a major challenge.
Explore the complete solid board market report with 92 illustrative figures, 96 data tables, and the table of contents. Also find a detailed market segmentation on https://www.futuremarketinsights.com/askus/rep-gb-7069
Competition Structure Analysis - Solid Board Market
The competition landscape of solid board market remains moderately fragmented and competitive. The unorganized local players continue to push for collaborations to compete with local players. Key producers are also pushing for compliance with food safety and hygiene standards to meet global demand.
Some of the key players in the solid board market include, but are not limited to Stora Enso, Smurfit Kappa Group, WestRock Company, International Paper, Mugler Masterpack Crimmitschau GmbH, VPK Packaging Group NV, Billerudkorsnas AB, Metsä Board, Holmen Group, and Sappi Ltd.
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About the Report
This report offers global, regional, and national level analysis on the latest trends in the industry influencing the solid board market. The study provides actionable insights on the solid board market on the basis of material type (recycled paper and virgin paper), weight (up to 200 GSM, 201 - 300 GSM, 301 - 500 GSM, and above 500 GSM), application (boxes, POP displays, edge protectors, trays, and layer pads), end use industry (food & beverages, healthcare & pharmaceuticals, industrial packaging, cosmetics & personal care, building & construction, electricals & electronics, and tobacco packaging) across 30 countries spanning seven key regions (North America, Latin America, Europe, East Asia, South Asia, Oceania, and MEA).
About Future Market Insights (FMI)
Future Market Insights (FMI) is a leading provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in London, the global financial capital, and has delivery centres in the U.S. and India. FMI's latest market research reports and industry analysis help businesses navigate challenges and take critical decisions with confidence and clarity amidst breakneck competition.
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SOURCE: Future Market Insights