Impact Of Covid-19 Outbreak On Corrugated Board Packaging Market
Corrugated Board Packaging Market: Introduction
Corrugated board packaging is an advanced packaging material developed to protect, pack, and dispatch the products. The increasing shift of the buyers towards lightweight, has encouraged the packaging sector to provide corrugated board packaging solutions in the market. It aims to explore the organized retail industry and fulfil the rising demands from the customers. Since the corrugated board is biodegradable, bio-based, and recyclable, the requirement for these boards is foreseen to project a significant growth in the corrugated board packaging market in future.
Corrugated Board Packaging Market: Novel Development
- Further, a recent report by the University of Bologna demonstrated that corrugated board keeps sustenance new as long as three days longer, by decreasing tainting, in this way driving the reception of corrugated board for packaging process. In addition, FEFCO/ESBO International Good Manufacturing Practice’ (GMP) Standard has additionally affirmed that corrugated board items fulfill all necessities of the sustenance business, as far as quality, wellbeing, and cleanliness.
- Packaging box producers, for example, Mondi, are taking measures to lessen the heaviness of the packaging given, and receiving corrugated boxes. The organization propelled ProVantage, a high-fiber compartment board produced using reused fiber, and provide lightweight and high packaging quality.
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- Driving retailers, for example, Walmart, have additionally plot forceful manageable packaging objectives at the World Economic Forum, to move in the direction of utilizing 100% reusable or compostable packaging, by 2025 or even before. These activities are anticipated to offer ample of scope for the development of the corrugated board packaging market, over the forthcoming yearse. Nonetheless, issues identified with unpredictable crude material costs are assessed to challenge the development of the market examined.
- In April 2017, a firm, Rengo Co., Ltd. based in Kita-ku, Osaka, announced about a Thai Containers Group Co., Ltd. (TCG), which is a joint venture among SCG Packaging Public Company Limited (a subsidiary of The Siam Cement Public Company Ltd.) and Rengo, has acquired around 80% of stake in PT Indocorr Packaging Cikarang. It is a key manufacturing firm of corrugated board packaging operated in eastern Jakarta.
- During April 2019, Cascades Inc. contributed USD 80 million on the development of another containerboard packaging plant in New Jersey, the United States. This new plant is ready to make corrugated packaging items, and the entire yearly production capacity of this plant would be 2.4 billion square feet.
