Report : Asia Pacific Slip and Tier Sheets Market Forecast to 2028 – COVID-19 Impact and Regional Analysis – by Material [Kraft Paperboard, Corrugated Fiberboard, High Density Polyethylene (HDPE), and Others] and End-Use Industry (Food & Beverage, Consumer Electronics, Chemicals, Pharmaceuticals, Retail, and Others)
At 9.2% CAGR, the Asia Pacific Slip and Tier Sheets Market is speculated to be worth US$ 545.78 Million by 2028, says Business Market Insights
According to Business Market Insights’ research, the Asia Pacific slip and tier sheets market was valued at US$ 322.75 million in 2022 and is expected to reach US$ 545.78 million by 2028, registering a CAGR of 9.2% from 2022 to 2028. High demand for plastic slip sheets and growth of e-commerce & logistics sector are the critical factors attributed to the Asia Pacific slip and tier sheets market expansion.
Slip sheets are recyclable and more environmental-friendly than traditional wooden pallets, which are discarded in landfills. Tier sheets are also recyclable and can be made from 100% recycled paper. Many companies are taking various actions to offer greener packaging solutions. Making logistics greener allows the companies to remain competitive in the market. Various companies and industries are increasingly focusing on using green and sustainable packaging solutions, such as slip and tier sheets, in their product’s shipping and logistics to reduce carbon footprints. In addition, various rules, regulations, and initiatives are encouraging the use of sustainable packaging products across different countries. Hence, the growing trend of using sustainable packaging solutions in shipping and logistics is expected to fuel the demand for Asia Pacific slip and tier sheets during the forecast period.
On the contrary, disadvantages associated with usage of slip sheets hurdles the growth of Asia Pacific slip and tier sheets market.
Based on material, the Asia Pacific slip and tier sheets market is segmented into kraft paperboard, corrugated fiberboard, high density polyethylene, and others. The kraft paperboard segment held 43.3% market share in 2022, amassing US$ 139.82 million. It is projected to garner US$ 235.56 million by 2028 to expand at 9.1% CAGR during 2022–2028.
Based on end-use industry, the Asia Pacific slip and tier sheets market is segmented into food and beverage, consumer electronics, chemicals, pharmaceuticals, retail, and others. The food and beverage segment held 27.4% market share in 2022, amassing US$ 88.40 million. It is projected to garner US$ 148.52 million by 2028 to expand at 9.0% CAGR during 2022–2028.
Based on country, the Asia Pacific slip and tier sheets market is segmented into Australia, China, India, Japan, South Korea, and the Rest of Asia Pacific. Our regional analysis states that China captured 46.4% market share in 2022. It was assessed at US$ 149.87 million in 2022 and is likely to hit US$ 266.57 million by 2028, exhibiting a CAGR of 10.1% during the forecast period.
Key players dominating the Asia Pacific slip and tier sheets market are Fresh Pak Corp, International Paper Co, Menasha Corp, Signode Industrial Group LLC, and WestRock Co, among others.
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