Global Corrugated End Caps Market: Overview
The corrugated board is the material specifically and popularly used in the packaging industry for various applications and products. It is used to provide protection depending on its use in the packaging. The manufacturers prefer the extensive use of corrugated board and products in the packaging in order to protect their final products. Moreover, they are beneficial in various other ways considering its eco-friendly nature. The government regulations regarding the material used in packaging and harmful effects of plastic based packaging solutions favor the growth of corrugated board and products such as end caps and boxes etc.
The global demand for the corrugated end caps is expected to have significant CAGR during the forecast period owing to its increasing demand from the manufacturers and need of protection to the primary products. The packaging application of the corrugated boards and its products such as corrugated end caps used to protect corners propels the growth of global corrugated end caps market during the forecast period.
Global Corrugated End Caps Market: Drivers and Restraints
The global corrugated end caps market is majorly driven by the application in the packaging industry. The packaging industry plays the vital role in every manufacturing and industrial applications as it protects and provides ease of product handling. Corrugated end caps provide protection to the corners of the products and are available in various grades. It is used to provide stability to the flat and fragile products such as glass, delicate products, and consumer products without the use of any extra materials such as glue. It is specifically in demand from the transportation as well as other supply chain elements and is designed with the supply chain requirements. The factors such as damage reduction, waste optimization, ease of assembling, effective space utilization, cost effective alternative to packaging, ensured protection, provision of stability to the product, and recyclable nature of the end caps triggers the demand for the global corrugated end caps market in the forecast period.
The end caps used can be easily broken down as per the requirements and are eco-friendly. Moreover, the macroeconomic factors favoring the growth of global corrugated end caps market include increasing demand for the corrugated board packaging, urbanization, a rise in disposable income, and growing trends of e-commerce. However, the factors such as a need to offer exact measure for the customization of the end caps, and availability of various other packaging components in the market with innovation and cost effectiveness may hamper the growth of global corrugated end caps market in the forecast period.
Global Corrugated End Caps Market: Segmentation
Global corrugated end caps has been classified by application, and region type
Based on the application, the global corrugated end caps market is segmented into the following:
- Consumer Goods
- Glass Ware and Ceramic Products
- Food and Beverage
- Paper Products
Global Corrugated End Caps Market: Regional Overview
The global corrugated end cap market is projected to have significant CAGR during the forecast period through its applications. The corrugated end cap market due to rise in demand from packaging industries is expected to propel during the forecast period. It is used to protect the corner of the products along with to provide stability during transportation. Regionally, the global corrugated end caps market is segmented into seven regions namely Latin America, North America, Eastern Europe, Western Europe, Middle East and Africa, Japan, and Asia Pacific excluding Japan. The North America market dominate the global corrugated end caps market owing to the high use of a protective material in packaging, high demand from various industrial and commercial applications, expanding the need for the protection to the products during transportation of the product.
Western Europe also shows significant contribution in the demand growth of global corrugated end caps market due to increasing demand from the food and beverage industries, glassware, and other packaging industries. APEJ owing to rapid urbanization and industrialization tends to incline towards the packaging as well as protection materials for the products. The rise in e-commerce industry in the region favors the use of corrugated end caps market through various application in electronic goods and other delicate primary products.
Global Corrugated End Caps Market: Market Players
The corrugated board and end caps market considering its wide application is expected to gain traction in the forecast period. Various prominent market players in the global corrugated end caps market include Smurfit Kappa Group, Tirupati Plastomatics Pvt Ltd., Hebei Gee Pipe Mill Co., Ltd., Yueqing Rhi Electric Co., Ltd., and others.