Market Introduction
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. The growing traffic in retail stores in LATAM, especially for purchasing packaged and fresh food products, is propelling the demand for corrugated boards. With the rise in demand for food and beverages and other consumer goods, the need for convenient and flexible logistics services is also increasing. Shipping and logistics companies extensively use corrugated boards and boxes for packaging goods to keep them safe during transit and warehousing. Thus, rapidly emerging organized retail landscape and proliferating shipping and logistics businesses in the region are the key factors expected to generate high demand for corrugated boards.
Market Overview and Dynamics
The corrugated board market in LATAM is expected to grow from US$ 14,447.12 million in 2020 to US$ 19,799.39 million by 2028; it is estimated to grow at a CAGR of 4.2% from 2021 to 2028. 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.
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.
Key Market Segments
In terms of application, the food and beverages segment accounted for the largest share of the LATAM corrugated board market.
Major Sources and Companies Listed
A few major primary and secondary sources referred to for preparing this report on the LATAM corrugated board market are company websites, annual reports, financial reports, national government documents, and statistical databases, among others. Major companies listed in the report are 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., among others.
Reasons to Buy Report
LATAM Corrugated Board Market Segmentation
LATAM Corrugated Board Market, by Application
LATAM Corrugated Board Market – by Country
Company Profiles
| Report Attribute | Details |
|---|---|
| Market size in 2020 | US$ 14,447.12 Million |
| Market Size by 2028 | US$ 19,799.39 Million |
| CAGR (2021 - 2028) | 4.2% |
| Historical Data | 2018-2019 |
| Forecast period | 2021-2028 |
| Segments Covered |
By Application
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Regions and Countries Covered
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| LATAM | |
| Market leaders and key company profiles |
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The LATAM Corrugated Board Market is valued at US$ 14,447.12 Million in 2020, it is projected to reach US$ 19,799.39 Million by 2028.
As per our report LATAM Corrugated Board Market, the market size is valued at US$ 14,447.12 Million in 2020, projecting it to reach US$ 19,799.39 Million by 2028. This translates to a CAGR of approximately 4.2% during the forecast period.
The LATAM Corrugated Board Market report typically cover these key segments-
The historic period, base year, and forecast period can vary slightly depending on the specific market research report. However, for the LATAM Corrugated Board Market report:
The LATAM Corrugated Board Market is populated by several key players, each contributing to its growth and innovation. Some of the major players include:
The LATAM Corrugated Board Market report is valuable for diverse stakeholders, including:
Essentially, anyone involved in or considering involvement in the LATAM Corrugated Board Market value chain can benefit from the information contained in a comprehensive market report.
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