Growing Demand of Corrugated Board from Diverse Application Bases to Escalate Corrugated Board Market Growth During 2021–2028

According to our latest market study on “LATAM Corrugated Board Market Forecast to 2028 – COVID-19 Impact and Analysis – by Application (Food and Beverages, E-Commerce, Consumer Durable, Electronics and Electricals, and Others),” the market was valued at US$ 14,447.12 million in 2020, and it is expected to reach US$ 19,799.39 million by 2028; it is estimated to grow at a CAGR of 4.2% from 2021 to 2028. The report highlights key factors driving the market and prominent players along with their developments in the market.

Corrugated fiberboard or "combined board" has two main components – the liner and the medium. Both are made of a special kind of heavy paper called containerboard. It comprises at least one layer of fluted paper and a base layer or liner paper. Corrugated boards are widely used in the food processing and packaging industry for packaging products such as fresh vegetables, fruits, poultry products, meat products, dairy products, and bakery goods, being transported across supply chains.

Corrugated packaging involves secondary shipping using corrugated boxes, to pack non-durable goods, along with durable goods. The corrugated board packaging is one of the cost-efficient and versatile packaging solutions, which helps to protect, preserve, and transport a wide range of products. Such a form of the board is known for attributes such as lightweight, rigidity, biodegradability, and recyclability, which make these boards one of the integral components in the packaging industry. They are considered an ideal solution to be used across various industrial bases such as food and beverages, consumer durables, electrical and electronics, paper, chemicals, personal care and household products, agriculture, forestry fishing, and plastic and rubber products. The substantial rise in the demand for FMCG products and branded consumer durables in the LATAM economy has driven the demand for corrugated board packaging. Corrugated boards are extensively used across the food and beverages industry to pack processed food items such as bread, meat products, and other perishable items; durable food products; beverages; and others. The shift in consumer lifestyle, along with the rise in demand for convenience foods, has driven the need for high-quality packaging and catering services. This, in turn, is fueling the demand for corrugated boards. The corrugated board packaging helps to keep the moisture away from products and can withstand long shipping times, which makes them an ideal material to be used by various companies, especially as a secondary or tertiary packaging solution. For instance, several food production and processing companies are extensively deploying the use of corrugated boards to pack products such as snacks, ready-to-eat (RTE) meals, meat, fruits, and produce. Apart from their use in food and beverages packaging, corrugated boards are ideal solutions to be used in the packaging of consumer goods, electronic items, personal care goods, and others. Nowadays, the manufacturers operating in the corrugated board market are significantly investing in research and development activities to come up with advanced, innovative, and customizable corrugated packaging solutions to meet industry-specific requirements.

Irani Papel E Embalagem SA, Smurfit Kappa, Klabin S.A, Westrock Company, International Paper, Arcor, Klingele Papierwerke GMBH & CO. KG, Papeles Y Conversiones DE MéXICO, Mondi, and Nippon Paper Industries Co., Ltd. are among well-established players operating in the LATAM corrugated board market.

Impact of COVID-19 Pandemic on LATAM Corrugated Board Market

The governments in LATAM have taken an array of actions to protect their citizens and combat the spread of the COVID-19 virus through lockdowns, trade bans, and travel restrictions. This may have a direct impact on the growth of the corrugated boards market. The ongoing pandemic has drastically altered the status of the chemicals & materials sector and negatively impacted the growth of the corrugated boards market. The implementation of measures to combat the spread of the virus has aggravated the situation and affected the demand for corrugated boards. The operations of several industries have been impacted during the pandemic period, which has ultimately impacted the delivery cycle and increased import-export tariffs. The sudden distortion in operational efficiencies and disruptions in the value chains attributable to the sudden closure of national and international boundaries, as well as temporary closures of manufacturing bases due to indefinite lockdowns and temporary quarantines, have impacted the growth of the market during the pandemic. The disruption in the supply chain and volatility in raw material pricing and sourcing in the initial weeks of lockdown have impacted the industrial products and processes.

The “LATAM Corrugated Board Market Analysis to 2028” is a specialized and in-depth study of the chemicals and materials industry with a special focus on the Latin America market trend analysis. Based on application, the market is segmented into food and beverages, e-commerce, consumer durables, electricals and electronics, and others.

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