North America Corrugated Boards Market

Market Introduction

The growing utilization of corrugated board in various end-use industries such as food & beverages, consumer durables, e-commerce, and electronics propels its market growth in North America. Also, the demand for flexible packaging, requiring corrugated boards, in North America has been on the rise. According to the Flexible Packaging Association, 60% of the consumers in North America are willing to pay more for tangible and functional packaging benefits. Thus, various manufacturers are focusing on developing flexible packaging with the use of corrugated board, which, in turn, will provide growth opportunities for the corrugated board market.

Many sectors, including the chemicals and materials industry, faced unprecedented challenges due to the COVID-19 pandemic. Due to shortage in raw material supply, shutdown of factories, labor shortage, and other operational difficulties under COVID-19 safety protocols, companies involved in the manufacturing of packaging products faced a contraction in sales during initial months of the pandemic. The e-commerce sector witnessed significant demand for various products such as packaged food and beverages, groceries, daily essentials, and consumer durable goods owing to shut down of offline stores. With rapidly growing e-commerce sector even in the times of COVID-19 pandemic, there was significant demand for corrugated boards from the e-commerce sector to package and transfer various goods. The US recorded the highest number of confirmed COVID-19 cases among all key countries in North America. This negatively impacted the overall manufacturing processes, research, and development activities. However, on May 26, 2021, a total of 288 million doses have been given administered so far in the US, and the governments are also planning to revive their operations soon. Slowly and gradually manufacturing units are being operationalized and various industries are recovering, which will have a positive impact on the corrugated board market.

Market Overview and Dynamics

The corrugated boards market in North America is expected to grow US$ 29,342.47 million in 2021 to US$ 45,039.33 million by 2028; it is estimated to grow at a CAGR of 6.3% from 2021 to 2028. Corrugated board is one of the green packaging solutions. The boards are considered an effective alternative to polymer-based packaging solutions, such as expanded polystyrene (EPS) foams. Manufacturers aim to convert such boards into new generations of containerboard for sustainable operations. Corrugated boards can be easily recycled and are eco-friendly and economical. They are made of recyclable materials, such as used cardboard cartons and old newspapers, which promotes their sustainability. Additionally, corrugated cardboards manufacturing is often carried out without using dyes or bleaches, which lowers the carbon footprint of the products and production process. The increase in inclination toward minimizing the overall volume of air cargo contributes to efficient packaging and creates a possibility for significant cost reduction in bulk transports. Moreover, lightweight corrugated board packaging has been considered one of the effective solutions adopted mainly by retailers and wholesalers to save costs and create appealing effects for packaging. Therefore, the growing focus on economical, eco-friendly, and lightweight packaging solutions of different end-use industries, such as electronics, automotive and transportation, pharmaceuticals, healthcare, food & beverages, would create lucrative opportunities for the growth of the corrugated boards market in the coming years.

Key Market Segments

In term of application, food and beverages segment held a larger market share of the corrugated boards market in 2020. Further based on food and beverages, process food industry segment held a larger market share of the corrugated boards market in 2020.

Major Sources and Companies Listed

A few major primary and secondary sources referred to for preparing this report on the corrugated boards market in North America are company websites, annual reports, financial reports, national government documents, and statistical database, among others. Major companies listed in the report are Klabin S.A.; International Paper; Arcor; Mondi; NIPPON PAPER INDUSTRIES CO., LTD.; Smurfit Kappa; and WestRock Company among others.

Reasons to buy report

• To understand the North America corrugated boards market landscape and identify market segments that are most likely to guarantee a strong return
• Stay ahead of the race by comprehending the ever-changing competitive landscape for North America corrugated boards market
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• Helps to take knowledgeable business decisions from perceptive and comprehensive analysis of market performance of various segment form North America corrugated boards market
• Obtain market revenue forecast for market by various segments from 2021-2028 in North America region.

North America Corrugated Boards Market Segmentation

North America Corrugated Boards Market – By Application

• Food and Beverages

• Process food industry
• Fresh Fruit and Vegetable Packaging
• Others

• E-Commerce
• Consumer Durables
• Electricals and Electronics
• Others

North America Corrugated Boards Market – By Country

• US
• Canada    

North America Corrugated Boards Market – Companies Mentioned

• Klabin S.A.                                                                            
• International Paper                                                             
• Arcor                                                                                     
• Mondi                                                                                   
• NIPPON PAPER INDUSTRIES CO., LTD.                            
• Smurfit Kappa                                                                      
• WestRock Company     

North America Corrugated Boards Market Strategic Insights

North America Corrugated BoardsMarket Report Highlights

North America Corrugated Boards Market Country and Regional Insights