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Meticulous Research® has released a comprehensive report titled “Industrial Packaging by Type, Material, Sector, and Geography,” projecting that the global industrial packaging market will reach $102.4 billion by 2031, with a CAGR of 4.6% from 2024 to 2031. This growth is driven by the increasing demand for sustainable packaging solutions, particularly in the chemical industry, alongside the rise of recyclable materials. However, fluctuations in raw material prices and a lack of standardized regulations present challenges. Notably, the market is seeing a trend toward the adoption of biodegradable packaging materials.
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The market is segmented into various categories, including type (secondary and tertiary packaging), material (plastic, metal, wood, paperboard), sector (retail & e-commerce, food & beverage, chemicals, pharmaceuticals, automotive), and geographic regions. This segmentation allows for a nuanced analysis of market dynamics and competitive landscapes.
Key Insights:
- Type of Packaging: In 2024, secondary packaging is expected to dominate with a 70% share due to its benefits in handling, stacking, and providing security during shipping. Collaborations, such as Mondi plc’s partnership with Essity AB and Dow Chemical, highlight the push for sustainable solutions in secondary packaging.
- Material Use: The plastic segment will account for 51% of the market share in 2024, favored for its lightweight nature and versatility. Meanwhile, the metal segment is anticipated to grow at the fastest rate, driven by the durability and barrier properties of materials like aluminum and steel.
- Market Sectors: The retail and e-commerce sector is projected to hold the largest share at 24% in 2024, as companies seek attractive packaging to enhance brand visibility and product safety during transit.
- Geographical Trends: Asia-Pacific is expected to dominate with a 46% share, supported by strong demand across various industries and a growing focus on eco-friendly packaging solutions. The region is also projected to experience the highest CAGR of 6%.
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Leading Companies:
Prominent players in the industrial packaging market include Greif, Inc., Amcor Group GmbH, WestRock Company, and Mondi plc, among others, each striving to meet evolving market demands through innovation and sustainability.
Key Questions Answered in the Report:
- Which are the high-growth market segments in terms of type, material, and sector?
- What is the historical market size of the global industrial packaging market?
- What are the market forecasts and estimates for 2024–2031?
- What are the major drivers, restraints, opportunities, challenges, and trends in the global industrial packaging market?
- Who are the major players in the global industrial packaging market, and what are their market shares?
- What is the competitive landscape like?
- What are the recent developments in the global industrial packaging market?
- What are the different strategies adopted by major market players?
- What are the trends and high-growth countries?
- Who are the local emerging players in the global industrial packaging market, and how do they compete with other players?
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