Corrugated Plastic Board Market Size, Share, Growth, and Industry Analysis by Type (Polypropylene Type, Polyethylene Type & Others), By Application (Graphic Art and Signage, Packaging and Storage, Agriculture, Automotive, Building and Construction & Others), Regional Insights, and Forecast From 2024 To 2032

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Corrugated Plastic Board Market Report Overview

The global corrugated plastic board market size was valued at USD 2.66 billion in 2023 and is projected to touch USD 4.99 billion by 2032, at a CAGR of 7.2% during the forecast period. Asia-Pacific holds leading position in corrugated plastic board market share in 2023.

Due to its special characteristics, corrugated plastic board, also known as corrugated plastic sheets or coroplast, is a flexible and long-lasting material that is frequently utilized in a variety of applications. It is constructed from polypropylene plastic and is composed of two flat plastic sheets joined together by a network of parallel ribs or flutes. Due to its small weight, corrugated plastic is simple to handle and transport. Despite being very light, corrugated plastic is surprisingly robust and long-lasting.

Its structural integrity is improved, and the fluted design makes it bending and impact resistant. Corrugated plastic is often used in arts and crafts projects like model building, prototyping, and DIY creations because it is simple to cut and shape. Corrugated plastic board offers a blend of strength, flexibility, and affordability for a variety of industries and uses, making it a flexible material with a wide range of practical applications.

COVID-19 Impact: Industry Shutdown Causes Market Distortion

The global COVID-19 pandemic has been unprecedented and staggering, with corrugated plastic board industry experiencing higher-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden rise in CAGR is attributable to the market's growth and demand returning to pre-pandemic levels once the pandemic is over.

For chemicals and advance materials, the COVID-19 outbreak resulted in issues like unstable markets, a decline in client confidence, and challenges with import and export business. The global supply chain includes the sourcing of raw materials, packaging, and distribution. Moving commodities, chemicals, and other items has become challenging due to lockdowns. It had a financial impact on the markets for material in addition to having an immediate impact on markets, supply chains, supply and demand, and all of these other things. Producers of chemicals are focusing on protecting their workforce, operations, and supply networks in order to handle this urgent situation. The pandemic impacted the industry dynamics, forcing organizations to revamp their entire operation structures to maintain stability amid the disruptions. Aside from that, the companies' business operations have been affected by the outbreak, which has an effect on the overall chemicals and advanced materials industry. This has partially impacted the corrugated plastic board industry.

LATEST TRENDS

"Packing Industry to Boost the Market Growth"

One major trend driving the market is the demand for corrugated plastic in the packaging sector. They are renowned for being both light and strong. The packaging sector has been a key market driver thanks to rising e-commerce and online shopping trends. In place of conventional paper-based corrugated boards and hardwood containers, they provide a great alternative. The lightweight quality makes handling and transit simpler and lowers shipping expenses. These boards are useful for a variety of packaging applications since they are simple to cut, mold, and print on. They offer adaptable solutions for various product types and sizes and are frequently used for boxes, totes, containers, and dividers. Thus, a key trend that is opening up potential for the industry to grow is the packing industry. These new developments are mostly to blame for the market's overall growth.

Corrugated Plastic Board Market Segmentation

• By Types

Based on type, the market is classified into polypropylene type, polyethylene type & others.

• By Application

Based on the market is categorized into graphic art and signage, packaging and storage, agriculture, automotive, building and construction & others.

DRIVING FACTORS

"Enhanced Protection that Gives the Market Extra Boost"

Corrugated plastic board are becoming more and more popular across a range of sectors because to their improved protection and durability. These qualities make these plastic boards a well-liked option for storage, transit, and packing needs. They are made to endure shocks and impacts while being handled, transported, and stored. Their sturdy construction helps shield the contained goods from harm, lowering the possibility of breakage or deterioration during travel. Because of their exceptional weather resistance, they are appropriate for outdoor applications. Without losing their structural integrity or endangering the contents they are intended to protect, they can resist exposure to rain, sunlight, and other environmental factors. As a result, the growth, and the growth in enhanced protection will boost the industry. It will contribute to the expansion of the chemicals & advanced materials industry and it will improve the corrugated plastic board market growth.

"Technological Advancement to Encourage Market Expansion"

Advancements in manufacturing technologies have played a significant role in the development and growth of the corrugated plastic board industry. These technical advancements have enhanced product quality, customization options, and production effectiveness. The most typical method of producing these plastic boards is extrusion. Manufacturers can now produce corrugated plastic sheets with higher accuracy and uniformity thanks to advanced extrusion processes. The manufacturing of boards with consistent thickness, smooth surfaces, and enhanced mechanical qualities is made possible by these methods. Corrugated plastic now have a wide range of customizing choices thanks to digital printing technology. Custom packaging solutions for numerous industries are made possible by the manufacturers' ability to print high-resolution graphics, logos, and designs directly into the boards. As a result, these factors are collectively promoting market expansion, increasing company revenues. As a result, above mentioned factors will help the market to boost.

RESTRAINING FACTORS

"Environmental Concerns to Impede Market Expansion"

Environmental issues are the barrier that the market is facing. Demand for environmentally friendly and sustainable solutions is growing as environmental awareness grows. Although corrugated plastic is somewhat recyclable and reusable, they are still made of plastic, which is a disadvantage in a market that values environmentally friendly solutions. This obstacle prevents the market from growing. This factor is impeding market expansion. This may be a significant issue limiting market expansion. If this problem is fixed, the market will start to grow right away.

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Corrugated Plastic Board Market Regional Insights

"North America Dominating the Market Across the Globe"

The market for corrugated plastic board is in North America has benefited from the region's expanding industrial development, and various driving factors which has increased the potential sectors as this region is the largest user of the product. The key factor driving the growth of the corrugated plastic board market share is the growing demand of product in the graphic art and signage, packaging and storage, agriculture, automotive, building and construction is one of the major reasons to drive the market. Rapid urbanization developments will further boost the overall market.

KEY INDUSTRY PLAYERS

"Leading Manufacturers to Boost Product Demand"

Study includes information on the market players and where they stand within the sector. Data is being collected and made available through proper research, mergers, technical advancement, growing production facilities, and cooperation. The study on materials offers details on manufacturers, regions, types, applications, sales channels, distributors, traders, dealers, research findings, and more.

LIST OF TOP CORRUGATED PLASTIC BOARD COMPANIES

• Creabuild (UAE)
• Distriplast (France)
• Corex Plastic (Australia)
• DS Smith (U.K.)

REPORT COVERAGE

The study goes into great detail about market segmentation by type and application. The study examines a broad range of participants, including existing and potential market leaders. A considerable market expansion is anticipated as a result of several important factors. In order to provide market insights, the research additionally analyses elements that are probably to boost corrugated plastic board market share. The report makes forecasts for market expansion during the projected time period. The objective of the regional study is to explain why one region dominates the worldwide market. There are a lot of issues that have all been carefully considered that prevent the industry from growing. The research also contains a market strategic analysis. It includes thorough market information.