Forecasted to reach a market value of US$ 707.71 million in 2023, the global corrugated pallet wrap market is poised for substantial growth. Projections indicate a robust Compound Annual Growth Rate (CAGR) of 7.2% during the forecast period from 2023 to 2033, leading to an anticipated valuation of US$ 1,420 million. This trajectory underscores the increasing demand for corrugated pallet wrap solutions across industries such as logistics, manufacturing, and retail. As businesses prioritize efficient and sustainable packaging solutions, the corrugated pallet wrap market is expected to play a pivotal role in meeting these evolving needs, driving its significant expansion.
The market is expected to witness growth during the forecast period due to factors such as reduced manufacturing costs and the introduction of technologically advanced sensors embedded within pallet wraps, enabling product height detection and weight management. Additionally, the implementation of advanced packaging machinery enhances packaging speed, thereby boosting product demand. Moreover, the increased production capacity for wider and thinner films, driven by higher line speeds, has opened up lucrative opportunities for market expansion in the corrugated pallet wrap segment. These developments underscore the market's potential for growth and innovation, fueled by advancements in both technology and manufacturing capabilities.
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Key manufacturers of corrugated pallet wrap
- International Paper Company
- WestRock Company
- Tetra level
- OJI Holdings
- Crown Holdings, Inc.
- Smurfit Kappa Group
- DS Smith Plc
- Columbia Corrugated Box
- Green pack Industries
- Ball Corporation
- Packaging Corporation of America
- Georgia Pacific LLC
- Global-pak
- Shanghai DasongCorrugating Roll Co.
- Pro group
key growth drivers for corrugated pallet wrap:
- Cost Reduction: The ability of corrugated pallet wrap to reduce manufacturing costs through efficient packaging solutions contributes significantly to its growth.
- Technological Innovation: Integration of advanced sensors in pallet wraps for product height detection and weight management enhances efficiency and drives market expansion.
- Increased Packaging Speed: Adoption of advanced packaging machinery improves packaging speed, boosting demand for corrugated pallet wrap.
- Production Efficiency: Rising demand for wider and thinner films, enabled by increased production capacity and higher line speeds, creates lucrative opportunities for market growth.
- Sustainability: Growing awareness and preference for sustainable packaging solutions fuel the adoption of corrugated pallet wrap, further driving market growth.
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Corrugated Pallet Wrap Market is segmented further as
By Application:
- Electrical electronics
- Glassware ceramics
- Food beverages
- Textiles apparels
- Retail industry
- Other industries (pharmaceutical, shipping logistics )
By Material Type:
- Unbleached Kraft liner
- Bleached Kraft liner
