Hexacomb Packaging Market – Global Industry Trends and Forecast to 2021-2028
Hexacomb Packaging Market
The Hexacomb Packaging Market was valued around USD 12,402 million in 2020 AND IS estimated to grow at a CAGR of 6.5% over the forecast period (2021-2028).
However, the growth of Hexacomb Packaging Market is hindered due to increasing use of hexacomb packaging solution in the Transportation and Logistics and Building & Construction industries and growing demand for furniture around the world. According to the report published by Statista, the Global Furniture Market was valued around USD 509.8 billion in 2020 and is predicted to reach USD 650.7 billion by the end of 2027, which is expected to boost the Global Hexacomb Packaging Market in the approaching years. Moreover, the expansion of e-commerce industry, increasing penetration of smartphones, strict regulations imposed by Governments regarding the use of Plastic and Aluminum and technological innovations in the hexacomb packaging solutions, are some of the additional factors supplementing the Hexacomb Packaging Market size. In addition, the increasing investments in manufacturing sector, rising awareness about the benefits of using hexacomb packaging solutions, rapid urbanization, growing population growth rates and rapid urbanization, are further contributing to the market growth.
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However, the growth of Hexacomb Packaging Market is hindered due to variations in the prices of raw materials.
The prominent players operating in the market are Smurfit Kappa, Amcor plc, DS Smith, Base SE, Huhtamaki, Constantia Flexibles, Sealed Air, GreenPackaging, Sonoco Products Company and Mondi, among others.
Packaging Type – Segment Analysis
Based on Packaging Type, the Exterior packaging segment is predicted to expand at a significant CAGR during the forecast period. The exterior packaging solutions are increasingly used in transportation and logistics industry because they are easy to handle and enhances the safety during transportation, are the factors responsible for the growth of the segment.
End-Use Industry – Segment Analysis
Based on End-Use Industry, the Automotive segment is anticipated to grow at a remarkable CAGR over the forecast period because the hexacomb packaging solutions considered safe while transporting materials and are widely used in automotive industry to carry bulky products.
Regional – Segment Analysis
As per the Hexacomb Packaging Market Report, the Asia Pacific region is expected to capture a sizeable market share during the forecast period. Rise in Foreign Direct Investment (FDI) inflows in the manufacturing industry, government regulations regarding the use of plastics, availability of cheap labor, rapid growth in the e-commerce industry and high population density, are some of the important factors augmenting the market growth in Asia-Pacific region.
Market Segmentation
Global Hexacomb Packaging Market by Packaging Type
Exterior packaging
Interior packaging
Others
Global Hexacomb Packaging Market by End-Use Industry
Automotive
Building & Construction
Household Appliances
Food & Beverage
Others
Global Hexacomb Packaging Market by Product Type
Container
Boxes
Cartons
Others
Global Hexacomb Packaging Market by Region
Asia PacificChina
Japan
India
Rest of APAC
North AmericaUnited States of America
Canada
EuropeUnited Kingdom
Germany
France
Spain
Rest of Europe
RoWBrazil
South Africa
Saudi Arabia
UAE
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