Industrial Packaging Industry| COVID-19 Impact, Segmented By Application And Geography Trends, Growth And Forecast To 2023

Industrial Packaging Industry Scenario

Industrial packaging is utilized to transport goods from the producer to the consumer. In the supply chain, many times the goods are delivered from manufacturing center to the distribution center, where the goods are packaged for the consumers. The increase in the demand for the industrial packaging is predicted to be propelled mainly by the development of the end-user industries such as good & beverages, construction, chemicals & pharmaceuticals, electronics, and others.

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Market Segmentation

The global Industrial Packaging Industry has been segmented based on packaging type, materials, products, and end-users. By packaging type, the market has been segmented into flexible & rigid. The flexible packaging segment is leading the market owing to the growing need for plastic-based packaging products and diverse application of flexible packaging in various industry verticals. By materials, the market has been segmented into metal, plastic, paper, and wood. The plastic dominated the market in 2016 and is expected to be the fastest growing market over the forecast period due to high efficacy of plastic as an industrial packaging material. By products, the market has been segmented into bags, boxes, sacks, barrels, tanks, and others.

Competitive Landscape

The key players operating in the global Industrial Packaging Industry include Greif, Inc. (U.S.), Greif, Inc. (U.S.), International Paper Company (U.S.), Orora Limited (Australia), Sigma Plastics Group (U.S.), NEFAB GROUP (Sweden), AmeriGlobe LLC (U.S.), Sealed Air Corporation (U.S.), Mondi plc (Austria), WestRock Company (U.S.).

Regional Analysis

The global COVID-19 Industry spans across the regions of North America, Europe, Asia Pacific, and the Rest of the World (RoW). Asia Pacific is the largest market for industrial packaging and is driven by increasing industrialization in the region. Availability of relatively cheap labor, the upsurge in economy and attractiveness for FDI fosters rapid industrialization in Asia Pacific which induces high demand for industrial packaging. In addition, rising consumer spending and increased international trade in the region provides an impetus to the growth of the market. North America follows Asia Pacific closely, and the market is growing due to the rise in import and export activities in the region. North American Free Trade Agreement (NAFTA) is projected to boost the market growth further.

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