The dunnage packaging market is projected to register a CAGR of 5.0%, in terms of value, between 2019 and 2024
NEW YORK, Oct. 23, 2019 /PRNewswire/ -- ''The dunnage packaging market is projected to register a CAGR of 5.0%, in terms of value, between 2019 and 2024.''
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The dunnage packaging market size is estimated to be USD 3.0 billion in 2019 and is projected to reach USD 4.0 billion by 2024, at a CAGR of 5.0% between 2019 and 2024. dunnage packaging is used in different industries, such as automotive, electronics, aerospace, consumer durables, food & beverages, and healthcare. This packaging method is highly promising and advantageous in various industries in terms of cost-effectiveness, delivery time, flexibility, design, error reduction, damage resistance, and environmental aspects. The superior features offered by dunnage packaging are enabling its usage in various end-use industries.
Corrugated plastic material accounted for the largest share, in terms of value and volume, of the dunnage packaging market.
Corrugated plastic material type dominated the overall dunnage packaging market in 2018.The use of corrugated plastic material in the dunnage packaging market offers various advantages such as cost-effectiveness, design flexibility, environmental resistance, extrudability, buildability, flowability, compressive strength, and open time.
The corrugated plastic material is used widely in automotive end-use industry.
The dunnage packaging market in the automotive end-use industry is expected to register the highest CAGR between 2019 and 2024.''
The increasing use of dunnage packaging in the building sector is mainly due to dunnage packaging offers excellent qualities that are strong enough to withstand external factors such as heat, and abrasive weather conditions.Furthermore, dunnage packaging's returnable capability, product safety, more precision, and less waste has resulted in the development of dunnage packaging market in the industry.
This packaging helps in proetcting class A that is premium surfaces while maintaining structural integrity, lowering the handling & transportation costs.
The dunnage packaging market in the APAC is projected to register the highest CAGR, in terms of value and volume, between 2019 and 2024.
The APAC dominated the global dunnage packaging market.The region has the presence of many manufacturers of dunnage packaging and its products.
China accounted for a significant share of the market in APAC and is expected to register substantial growth during the forecast period. The growth of the dunnage packaging market in this region is driven mainly by the growing automotive, electronics, food & beverage and aerospace end-use industries.
Breakdown of Profiles of Primary Interviews:
• By Company Type: Tier 1 – 35%, Tier 2 - 40%, and Tier 3 - 25%
• By Designation: C level - 25%, Director level - 35%, and Others - 40%
• By Region: Europe - 35%, North America - 20%, APAC -25%, MEA – 15%, South America- 5%
The dunnage packaging market comprises major solution providers such as DS Smith (UK), Menasha Corporation (US), Schoeller Allibert (Netherlands), Myers Industries (US), Nefab (Sweden), UFP Technologies (US), Reusable Transport Packaging (Florida), Amatech Inc. (US), MJSolpac Ltd. (UK), Rehrig Pacific Company (US). The study includes an in-depth competitive analysis of these key players in the dunnage packaging market, with their company profiles, recent developments, and key market strategies.
Research Coverage
The study covers the dunnage packaging market.It aims at estimating the market size and the growth potential of this market across different segments, such as material, end-use industry, and region.
Porter's Five Forces analysis and the key market dynamics, such as drivers, restraints, challenges, and opportunities, influencing the growth of the dunnage packaging market have been discussed in the report. The report also provides company profiles and competitive benchmarking of major players operating in the market.
Key Benefits of Buying the Report
The report will help the market leaders/new entrants in this market with information on the closest approximations of the revenue numbers of the overall dunnage packaging market and its subsegments.This report will help stakeholders understand the competitive landscape and gain more insights to better position their businesses and plan suitable go-to-market strategies.
It will also help stakeholders understand the pulse of the market and provide them with information on key market drivers, restraints, challenges, and opportunities.
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