Honeycomb Packaging Market Is Expected To Grow At 6% CAGR During Forecast 2023
Global
Honeycomb Packaging Market, to experience significant growth during the
forecast period:
Market Research
Future published a raw research report Global Honeycomb Packaging Market that
contains the information from 2017 to 2023.The Global Honeycomb
Packaging Market is expected to grow at~ 6% CAGR from 2017 to 2023.
Taste the
market data and market information presented through more than 85 market data
tables and figures spread in 140 numbers of pages of the project report. Avail
the in-depth table of content & market synopsis on “Global Honeycomb
Packaging Market Information from 2017 to 2023"
Honeycomb structures are naturally occurring
or man-made and have the geometry of a honeycomb. These are used between two
thin sheets to make materials for honeycomb packaging. Honeycomb structures aid
the material used in packaging in reducing density and increasing shear and
compression properties. This enables in minimizing the material usage and
maximizes strength. Honeycomb packaging is 100% ecofriendly, lightweight, shock
absorbent, and does not change in dimensions with temperature variations. It
provides advantages such as easy handling and transportation, easy disposal,
and low cost.
Honeycomb packaging is made by conglutination
of paper bands into series of hexagons that are similar to honeycomb structure,
and are then sandwiched between two sheets. The properties of honeycomb
packaging are low material consumption, low weight, difficult to deform,
resistant to pressure, shock and bending, good cushioning performance, and
recyclable. Increasing demand for lightweight, environment friendly, and low
cost packaging by food and beverages, automotive, and other industries, is
driving the growth of honeycomb packaging market.
Increasing demand for sustainable packaging by
various industries such as automotive, furniture, consumer goods, and others,
is the major growth driver for honeycomb packaging. Furthermore, the growing
demand for e-Commerce sector owing to increasing utilization of smart phones,
is propelling the growth of packaging industry, which in turn has augmented the
growth of honeycomb packaging. However, increasing demand for flexible
packaging is the major challenge to honeycomb packaging market. Stringent
government regulations by U.S. Environmental Protection Agency and other
regulatory bodies on the recyclability and environment hazards of the material
used in flexible packaging such as plastic and aluminum, is expected to boost
growth of the honeycomb packaging market as honeycomb packaging is made from
environment friendly material.
The global honeycomb packaging market is expected to grow at ~ 6% CAGR
during the forecast period.
Read
More With Press Release @ https://www.openpr.com/news/1600543/Honeycomb-Packaging-Market-2019-BASF-SE-ACH-Foam-Technologies-DS-Smith-HUHTAMAKI-Lsquare-Packaging-Corporation-of-America-Sealed-Air-Sonoco-Products-Smurfit-Kappa-and-WestRock.html
North
America honeycomb packaging market, expected to dominate the global honeycomb
packaging market
North America was the dominant market with a
market share of more than 35% in 2016. This is attributed to various
initiatives taken by government agencies such as US Environment Protection
Agency (EPA) to reduce packaging wastage. According to the United States
Environment Protection Agency (EPA), packaging materials form 23% of the
landfills. The government has set regulations to reduce packaging wastage, and
this is driving the demand for environment friendly packaging materials such as
honeycomb packaging. The significant growth in e-commerce has also augmented the
growth of honeycomb packaging For instance, according to the US Census Bureau,
the e-commerce sales accounted for 7.3% of total sales, among the sales through
various distribution channels such as retail, supermarkets and others in 2015
and increased to 8.1% in 2016.
Ask for your specific
company profile and country level customization on reports.
The key players of global honeycomb packaging market are BASF SE
(Germany), ACH Foam Technologies (U.S), DS Smith plc (U.K), HUHTAMAKI GROUP.
(Mexico), Lsquare Eco-Products Pvt. Ltd. (India), Packaging Corporation of
America (U.S), Sealed Air Corporation (U.S), Sonoco Products Company (U.S),
Smurfit Kappa Group plc (Ireland) and WestRock Company. (U.S).
This research report provides insights, on various levels of
analysis such as industry analysis, and market share analysis for the leading
players along with their profiles. It also helps in studying the target
segments by providing views on emerging & high-growth segments. The market
data comprises the basic assessment of the competitive scenarios &
strategies in the global honeycomb packaging market, including high-growth
regions and/or countries, and political, & economic environments. The
project report, further, provides views on both the historical market values
and pricing & cost analysis.
Access Full Report Details With TOC @ https://www.marketresearchfuture.com/reports/honeycomb-packaging-market-4868
Comments
Post a Comment