Summary

Global Honeycomb Packaging Market Size, Share, Growth, Trends, Opportunities By Packaging Type (Exterior Packaging, Interior Packaging, Pallets, and Others), By End-use Industry (Automotive, Consumer Goods, Food and Beverages, Furniture, Industrial Goods and Others) and By Region - Global Forecast to 2023

Honeycomb Packaging Market Analysis

The global honeycomb packaging market is predicted to grow at a 6% CAGR over the forecast period (2017-2023), reveals the new Market Research Future (MRFR) report. Honeycomb packaging simply put, is a paper-based material which provides a unique blend of superior strength while being lightweight. This material is cost-effective, eco-friendly, and custom-engineered, which can be utilized as dunnage, pallets, void fill packaging, and other packaging substitutes. Recyclable, good cushioning performance, shock, and bending, resistant to pressure, difficult to deform, low weight, and low material consumption are the key characteristics of honeycomb packaging.

Honeycomb packaging includes strict protection and padding that aids in averting heavy damages owing to movement at the time of transportation. Moreover, edge protectors are used for corners of glass or delicate edges for extra protection. This form of packaging can help in keeping products safe during sudden instances of water flows and firing.

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Key Players

Leading players profiled in the honeycomb packaging market report include

• WestRock Company (US)
• Smurfit Kappa Group plc (Ireland)
• Sonoco Products Company (US)
• Sealed Air Corporation (US)
• Packaging Corporation of America (US)
• Lsquare Eco-Products Pvt. Ltd. (India)
• HUHTAMAKI GROUP (Mexico)
• DS Smith plc (UK)
• ACH Foam Technologies (US)
• BASF SE (Germany)

Industry News

July 2019: EconCore will team up with DuFor and Ultrapolymers in a research and development project that will be funded by the Flemish Government. The aim of this partnership is in developing a thermoplastic honeycomb core from recycled PET. This will be a sustainable, innovative, and smart product which will contribute to circular economy of plastics.

Market Segmentation

The Market Research Future report offers a wide segmental analysis of the honeycomb packaging market based on end use industry and packaging type.

Based on packaging type, the honeycomb packaging market is segmented into pallets, interior packaging, exterior packaging, and others. Of these, the exterior packaging segment will have the largest share in the market over the forecast period as it is easy to handle and offers enhanced safety during product transportation. Exterior packaging comprises crates, containers, boxes, cartons, and others.

Based on end use industry, the honeycomb packaging market is segmented into industrial goods, furniture, food and beverages, consumer goods, automotive, and others. Of these, the automotive segment will dominate the market over the forecast period. Protective packaging is a vital part of automobile supply chains. Honeycomb packaging is an effective method to pack automotive parts and bulky products, as this ensures enhanced safety.

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Regional Analysis

By region, the honeycomb packaging market report covers growth opportunities and the latest trends across Europe, Asia Pacific (APAC), North America, and Rest of the World (RoW). Of these, North America will dominate the market over the forecast period. The US is the key contributor as stringent regulations here has resulted in the growing demand for packaging materials that are eco-friendly that in turn, has increased the need for honeycomb packaging. Moreover, honeycomb packaging is in great demand in the e-commerce and automotive industry.

The honeycomb packaging market in the APAC region is predicted to have a favorable growth over the forecast period. This is owing to the mounting demand from different end use industries such as e-commerce, furniture, automotive, and consumer goods.

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