Honeycomb Packaging Market Segmented By Application And Geography Trends, Growth And Forecast To 2023
Summary
Global Honeycomb Packaging Market Statistics, Size, Share, Future Scope, 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
Honeycomb packaging is made by conglutination of paper bands into series of hexagons that are similar to honeycomb structure, and are then sandwiched between two sheets. The properties of honeycomb packaging are low material consumption, low weight, difficult to deform, resistant to pressure, shock and bending, good cushioning performance, and recyclable. Increasing demand for lightweight, environment friendly, and low cost packaging by food and beverages, automotive, and other industries, is driving the growth of honeycomb packaging market.
Honeycomb structures are naturally occurring or man-made and have the geometry of a honeycomb. These are used between two thin sheets to make materials for honeycomb packaging. Honeycomb structures aid the material used in packaging in reducing density and increasing shear and compression properties. This enables in minimizing the material usage and maximizes strength. Honeycomb packaging is 100% ecofriendly, lightweight, shock absorbent, and does not change in dimensions with temperature variations. It provides advantages such as easy handling and transportation, easy disposal, and low cost.
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.
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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.
Scope of the Report
This study provides an overview of the global honeycomb packaging market, tracking two market segments across four geographic regions. The report studies key players, providing a five-year annual trend analysis that highlights market size, volume and share for North America, Europe, Asia Pacific (APAC) and Rest of the World (ROW). The report also provides a forecast, focusing on the market opportunities for the next five years for each region. The scope of the study segments the honeycomb packaging market by its packaging type, by end-use industry and by region.
- By Packaging Type
- Exterior Packaging
- Interior Packaging
- Pallets
- Others
- By End-use Industry
- Automotive
- Consumer Goods
- Food and Beverages
- Furniture
- Industrial Goods
- Others
- By Regions
- North America
- Asia Pacific
- Europe
- Rest of the World
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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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