Clay Coated Recycled Boxboard Market By Material (CBR (Clay Coated Board Recycled), CBO (Clay Coated Recycled Multi-ply)), End-use (Food & Beverages Packaging, Pharmaceuticals Packaging, Cosmetics, Personal Care & Homecare Packaging) & Region - Forecast 2024-2034
NEWARK, DE / ACCESSWIRE / August 27, 2024 / The clay coated recycled boxboard market value is estimated to rise from USD 8.1 billion in 2024 to USD 11.4 billion by 2034. The market is analysed to surge ahead at a CAGR of 3.5% from 2024 to 2034.
The clay coated recycled boxboard segment is a crucial part of the coated boxboard industry, driven by increasing environmental awareness and demand for sustainable packaging solutions.
The industry is expected to see a shift due to strict regulations mandating the use of recycled materials. However, challenges such as fluctuating raw material prices and limited availability of high-quality recycled fibres remain.
Technical improvements in recycling processes and competitive dynamics among industry players also contribute to shaping the market in the coming decade. The emergence of graphic printing innovations on clay coated recycled boxboards is expected to further enhance the appeal of sustainable packaging, capturing the attention of a broader consumer demographic.
The need for clay coated recycled boxboard is a prime example of finding a balance between environmental stewardship and commercial viability. Manufacturers must navigate sustainability and profitability to meet the demand for environmentally friendly packaging solutions while ensuring economic feasibility.
What are the Key Factors Shaping the Clay Coated Recycled Boxboard Market?
Growing Preference for Sustainable Packaging Solution among Retailers and Food Processors to shape the Market
Increasing application of sustainable resources is a key area, which is highly dominated by manufacturers and environmentalists across the globe. For instance, they are emphasizing on the usage of bio-degradable packaging materials such as clay coated recycled boxboard among multinational cereal companies and global retailers such as Kellogg's, Quaker, etc. These companies link up with multi-stakeholders (Environmental Defense Fund, WWF, etc.), with an aim to reduce the environmental impact. Such international regulatory bodies recommend the essential sustainable changes in packaging materials, thus emphasizing on the usage of paper-based packaging products such as clay coated recycled boxboard to reduce the impact on the environment and at the same time lessen the overheads of the manufacturers.
Ban on Lightweight Plastic Bags to Propel the Growth of Global Clay Coated Recycled Boxboard Market
Boxboard can be reused and recycled as compared to the other materials such as metals and plastics. Therefore, clay coated recycled boxboard is amongst the most eco-friendly and economic forms of packaging. Growing demand for rigid paper-based packaging due to the rise in consumers' awareness regarding harmful effects of plastic on the environment is another driving factor for the global clay coated recycled boxboard market. Increasing awareness and stringency of laws regarding the use of plastic are expected to drive the consumers' preference for paper packaging. Ban on lightweight plastic bags in some countries is expected to drive the clay coated recycled boxboard market during the forecast period.
Vertical and Horizontal Mergers of Multinational E-Commerce Companies Accelerating Demand for Clay Coated Recycled Boxboard
E-Commerce business has undergone rapid expansion in the last two years. Multinational e-Commerce companies such as Amazon acquired Souq.com and Whole food in 2017. These factors have propelled the demand for clay coated recycled boxboard for easy transportation. E-Commerce companies are entering into partnerships with domestic and regional suppliers in order to strengthen their supply chain and take advantage of bulk order and avail discount on the same. Thus, manufacturers of clay coated recycled boxboard can leverage this aspect in the near future.
Explore In-Depth Analysis -Click Here to Access the Report: https://www.futuremarketinsights.com/reports/clay-coated-recycled-boxboard-market
"The clay coated recycled boxboard market is expected to shift due to increased environmental awareness and demand for eco-friendly packaging solutions. Manufacturers must balance sustainability and profitability to meet demand." - Says a Lead Consultant Ismail Sutaria in Packaging at Future Market Insights (FMI).
Key Takeaways from the Clay Coated Recycled Boxboard Market Report
The clay coated recycled boxboard market is anticipated to be valued at USD 6.6 billion in 2019 and registering a CAGR of 3.1% from 2019 to 2023. The market is foreseen to reach USD 7.7 billion by 2023.
The clay coated board recycled (CBR) segment is estimated to attain a share of 71.1% in 2024.
The food and beverage sector is projected to obtain a leading share of 52.7% in the industry in 2024.
In North American region, the United States, the industry is expected to stretch at 2.3% over the forecast period.
With a CAGR of 3.4%, Spain is predicted to dominate Europe by 2034.
India and China are the leading performers In the Asia Pacific, attaining CAGRs of 5.5% and 4.7%, respectively, over the forecast period.
Competitive Landscape
Leaders in the industry that place a high priority on research and development to remain ahead of the curve control the majority of the recycled boxboard with clay coating market. This method creates new items with enhanced qualities, such as increased durability, antibacterial qualities, and resistance to dents and stains.
In order to broaden their global reach and offer new film opportunities, these corporations are forming partnerships with local and regional businesses. Customers and brands gain from this two-pronged strategy, which stimulates market development and innovation from well-established businesses while generating a lively and competitive market.
Key Players of Clay Coated Recycled Boxboard Industry
International Paper Company
Smurfit Kappa Plc
WestRock Company
GreenPaper
Paperworks Industries Inc.
Netpak
Greif Inc
Strathcona Paper LP
TPC Group Co. Ltd.
Spartan Paperboard Company
Recent Industry Developments in Clay Coated Recycled Boxboard Market
Graphic Packaging debuted PaceSetter Rainier, a newly coated recycled paperboard, in August 2023. Improved brightness, whiteness, and smoothness of the surface are provided by this SBS-recycled blend, which bears the name of Mount Rainier in the United States.
PE-coated beverage cups will no longer be produced at Mayr-Melnhof's Kotka factory in Finland starting in June 2024. The BM 2, the paper machine at the mill, was the first to manufacture barrier-coated boards without plastic and to apply dispersion barrier coatings online. The start-up wants to provide creative plastic substitutes and support MM's environmental plan.
Key Segments of Clay Coated Recycled Boxboard Industry
By Material:
In terms of material, the industry is bifurcated into clay coated board recycled (CBR) and clay coated recycled multi-ply (CBO).
By Application:
In terms of applications, the industry is segregated into boxes and cartons, signage, stationery, inserts and dividers, and other consumer and industrial products.
By End Use:
End use industries of the sector are food and beverage, pharmaceutical, personal care and cosmetics, automotive parts, electrical and electronics, and other industries.
By Region:
Key countries of North America, Latin America, Europe, East Asia, South Asia & Pacific, Middle East and Africa (MEA), have been covered in the report.
Authored by:
Ismail Sutaria (Lead Consultant, Packaging and Materials) has over 8 years of experience in market research and consulting in the packaging & materials industry. Ismail's strength lies in identifying key challenges faced by the client and offering logical and actionable insights to equip the clients with strategic decision-making power.
Ismail has been an instrumental part of several transformational consulting assignments. His key skills include competitive benchmarking, opportunity assessment, macroeconomic analysis, and business transformation advisory. Ismail is an MBA holder in Marketing and has a Bachelor's Degree in Mathematics.
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About Future Market Insights (FMI)
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