Global Folding Boxboard Market: Overview
The global folding boxboard market is projected to register upward graph of revenues during the forecast period of 2019 to 2029. This growth is attributed to increased demand for folding boxboards in plethora of end-use industries. Folding boxboard can be defined as a paperboard grade manufactured using many layers of mechanical and chemical pulp. The segmentation of the global folding boxboard market is performed on the basis of application, material, and region. Based on material, the market for folding boxboard is classified into bleached chemical, pulp-based, recovered paper, and others.
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Global Folding Boxboard Market: Growth Dynamics
The global folding boxboard is growing on the back of increased use in various industries such as cosmetics, greeting cards, higher end and general packaging, healthcare, and others. Folding boxboard is widely used in the packaging of various products such as luxury items, paperback covers, etc. In recent years, manufacturers and marketing experts of various products are growing efforts to attract their customers. For this purpose, they are focusing on making the packaging of these products more appealing. This factor is supporting the growth of the global folding boxboard market.
Folding boxboards are gaining traction owing to their ability to offer utmost quality consistency and efficiency. The global folding boxboard market is expected to gain supreme demand avenues from the companies engaged in the production of personal care products. It includes various products such as lotions, packaging oils, gel, creams, and toiletries. With continuously growing worldwide population, the demand for these products is estimated to grow at rapid pace in the upcoming years. This factor, in turn, will stimulate the growth of the global folding boxboard market.
Global Folding Boxboard Market: Notable Development and Competitive Analysis
The global folding boxboard market is highly fragmented in nature. Presence of numerous active players denotes that the competitive landscape of the market for folding boxboard is highly intense. To deal with this high competition level, enterprises are using notable tactics including joint ventures, product launches, and mergers and acquisitions. A case in point here is the acquisition by Mayr-Melnhof Packaging. The firm recently acquired TANN Group headquartered in Traun, Austria. This move by the firm has supported in strengthening its position in the global folding boxboard market.
Major enterprises working in the global folding boxboard market are growing investments in research and development activities. The key aim of this strategy is to advance the quality of products they offer. All these moves signify that the global folding boxboard market will develop at rapid speed during the forecast period of 2019 to 2027.
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Some of the important players in the global folding boxboard market are:
- Mayr-Melnhof Karton
- Nippon Paper Industries
- Metsa Board Group
- Mondi Group
- Kotkamills Oy
- SAPPI Limited
- ITC Limited
Global Folding Boxboard Market: Regional Assessment
The global folding boxboard market is spread across five important regions, namely, Latin America, North America, Asia Pacific, Europe, and Middle East and Africa. Among the important regions, Asia Pacific is one of the leading regions in the market for folding boxboard. Key reason for this growth is increased population and rising disposable income of major population in Asia Pacific. Apart from this, the market for folding boxboard will get the advantage of growing awareness in the region regarding the environmental protection. Majority of consumers in the region are inclined toward the use of eco-friendly packaging solutions. This factor will fuel the growth of the folding boxboard market in Asia Pacific.
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