Report : North America 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 8.1% CAGR, the North America Slip and Tier Sheets Market is speculated to be worth US$ 1,000.24 Million by 2028, says Business Market Insights
According to Business Market Insights’ research, the North America slip and tier sheets market was valued at US$ 625.55 million in 2022 and is expected to reach US$ 1,000.24 million by 2028, registering a CAGR of 8.1% from 2022 to 2028. Increasing use of slip and tier sheets and growth of e-commerce & logistics sector are the critical factors attributed to the North America slip and tier sheets market expansion.
The logistics industry growth is attributed to rising demand for e-commerce and online shopping, rapid expansion of various sectors such as the retail sector, and various government initiatives on infrastructure development. In the last few years, e-commerce has grown exponentially, and companies such as Amazon, Walmart, and Alibaba have ensured that customers will receive their required commodities using e-commerce applications on their smartphones. The high preference for online shopping is leading to a huge increase in demand for logistics services. Due to the growth of online grocery shopping, many logistics companies are experiencing a significant need for their services. Moreover, the high number of last-mile and express deliveries and the implementation of reverse logistics are influencing the expansion of the logistics industry. The growth of the e-commerce sector has allowed the logistics industry to branch out and diversify its operations. Further, the growing demand for food and beverages, pharmaceuticals, chemicals, and electronics positively impacts the logistics industry. Therefore, the growing e-commerce & logistics sector in different countries across the region is increasing the use of slip and tier sheets, which is driving the overall North America slip and tier sheets market growth.
On the contrary, disadvantages associated with usage of slip sheets hurdles the growth of North America slip and tier sheets market.
Based on material, the North America slip and tier sheets market is segmented into kraft paperboard, corrugated fiberboard, high density polyethylene, and others. The kraft paperboard segment held 56.7% market share in 2022, amassing US$ 354.58 million. It is projected to garner US$ 567.74 million by 2028 to expand at 8.2% CAGR during 2022–2028.
Based on end-use industry, the North America slip and tier sheets market is segmented into food and beverage, consumer electronics, chemicals, pharmaceuticals, retail, and others. The food and beverage segment held 29.1% market share in 2022, amassing US$ 181.98 million. It is projected to garner US$ 289.67 million by 2028 to expand at 8.1% CAGR during 2022–2028.
Based on country, the North America slip and tier sheets market is segmented into the US, Canada, and Mexico. Our regional analysis states that the US captured 82.5% market share in 2022. It was assessed at US$ 516.18 million in 2022 and is likely to hit US$ 832.76 million by 2028, exhibiting a CAGR of 8.3% during the forecast period.
Key players dominating the North America slip and tier sheets market are Badger Paperboard Inc, Dura-Fibre LLC, Fibre Converters Inc, Fresh Pak Corp, Georgia-Pacific LLC, International Paper Co, Menasha Corp, Red Rock Pallet Co Inc, Signode Industrial Group LLC, and WestRock Co, among others.
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