Plastic Protective Packaging Market: Growing Demand to Impact Revenue Share during 2018-2028

Posted on 2019-05-21 by Mark Hub in Chemicals // 0 Comments

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The purpose of this rich study presented by FactMR is to elaborate the various market projections impacting the global plastic protective packaging market during the period until 2028. This assessment delivers high-end statistics concerning market size, Y-o-Y growth in trends and revenue share (US& Mn) linked to different geographies and segmentation types. Readers can acquire precise insights about growth trends along with opportunities that are expected to reshape the overall structure of the plastic protective packaging market during the forecast period.

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Plastic Protective Packaging Market – Key Insights

Plastic protective packaging registered a steady growth at 5.4% CAGR between 2013 and 2017. The plastic protective packaging market will continue to witness robust growth in the future owing to various factors ranging from growing demand for inflatable packaging to increasing adoption of plastic packaging in the ecommerce sector.
The plastic protective packaging market is expected to surpass revenues worth US$ 14 billion in 2019.
Europe is likely to remain the largest market for plastic protective packaging with revenues estimated to exceed US$ 4 billion in 2019.
Plastic protective packaging market is expected to witness a relatively faster growth in East Asia, as China continues to gain significance as attractive hub for packaging manufacturers, upheld by growing demand from the electronics industry.

What are the Key Growth Drivers of Plastic Protective Packaging Market?

Plastic continues to be the widely used material in protective packaging across various industries, with introduction of advanced materials such as polypropylene that provide high barrier and temperature resistance, thereby, protecting packaged products from harsh environments.
Adoption of flexible packaging in the food and beverage, including pouches, bags, sleeves, shrink films, and tubes, owing to their low weight, flexibility, and durability properties, will continue to create growth opportunities for the plastic protective packaging market.
With significant growth in the construction and electronics sector, air cushion and bubble packaging have emerged as the viable protective packaging solution for the products ranging from lightweight, delicate objects such as ceramics and housewares, to heavier electronic components and glassware.

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Plastic Protective Packaging Market – Competitive Landscape

Berry Global Group plans to acquire RPC Group for approximately US$ 6.5 billion, including refinancing RPC’s net debt. It plans to create a global plastic and recycled packaging product franchise through this acquisition.
Smurfit Kappa Group has acquired Balkanpack with an aim to expand its business in Bulgaria. Smurfit Kappa also plans to take over Vitavel, also a Bulgarian manufacturer.
Sealed Air Corporation has entered into an agreement with Kuraray America, Inc. to offer Plantic, a plant-based food packaging in the US, Mexico, and Sealed Air Corporation’s planned investment of US$24 million is underway and the production is likely to start by Q2/2020.

Key players operating in the plastic protective packaging market include Berry Global Group, Inc., AEP Industries Inc., Intertape Polymer Group Inc., Smurfit Kappa Group, Sealed Air Corporation, Signode Packaging Systems Corporation, Winpak Ltd., Kureha Corporation, PREMIUMPACK GmbH, Flexopack S.A., Schur Flexibles Group, Coveris Holdings S.A., Allfo Vakuumverpackungen Hans Bresele Kg, Kuplast Matejka Kumar S.P., and Buergofol GmbH.

Stretch Wrap to Find Widespread Adoption in Protective Packaging across Industries

Stretch wraps have gained high palpability as an effective packaging solution in recent years, with demand attributed to growth in palletizing and shipping activities, in line with rising purchasing power of consumers and retail activities. Improvement in resin strength and machinery technology used in stretch wrap manufacturing is also likely to expand the application range of stretch wraps in the upcoming years. Multi-layer stretch wraps and films are also gaining popularity across various industries due to the high-strength and customization potential.

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