According to Future Market Insights (FMI), between 2021 and 2031, the demand for layer pads is expected to increase at a CAGR of 5.6%. The need for layer pads is rising as their use in product packaging, particularly for beverages, is expanding. Because of this, the layer pads market will grow to US$ 1.16 billion by 2021.
Through 2021, layer pad shipments are anticipated to reach 750,000 Tonnes, growing by 5.4% annually. According to the survey, the layer pad market represents 4% of the US$ 26 billion global protective packaging market.
As important makers of layer pads, the research also names Smurfit Kappa Group, DS Smith, International Paper, and KapStone Paper and Packaging.
FMI has predicted the sales of paperboard layer pads to grow considerably over the forecast period. However, as plastic layer pads are economical and are durable, some of the end-users will continue preferring plastic layer pads in place of eco-friendlier alternatives.
On the flip side, stringent regulations imposed by on the use of plastic are expected to push the sales of paperboard layer pads. Driven by these factors, sales of layer pads are expected to reach US$ 1.16 Bn through 2021.
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Key Findings from the Layer Pads Market Study by FMI
- Nearly 80% of layering pads sold are utilised in the drinks industry, according to the end-user base.
- Through 2021, the food and agricultural products business is anticipated to contribute sales of US$125.1 million, making it the second-largest end user.
- In North America, the U.S. is anticipated to dominate the layer pad market due to rising demand from the beverage sector.
- The growth of the manufacturing and packaging sectors is anticipated to increase demand for layer pads in India.
- It is anticipated that South Korea will make up 8% of the worldwide layer pad market.
- While the majority of products are projected to be made of plastic, sales of paperboard layer pads are anticipated to increase during the ensuing years.
How Will Demand for Recyclable Packaging Drive Layer Pads Sales?
Layer pads offer a protective layer that reduces the risk of damage to the product when in transit. They also protect goods, especially any glass or chemical compound, when a cuter is used to unpack.
Manufacturing companies are extensively using layer pads to reduce packaging waste and protect goods from damage. With growing sustainability concerns and focus on reducing the use of plastic, demand for paperboard layer pads have burgeoned in beverage, chemical, and electronics sector.
In order to cater to the surging demand for sustainable and light weight layer pads, leading companies are investing heavily in product innovations. For instance, Hamond Paper have developed 100% recyclable, sustainable, and light weight chipboard and corrugated layer pads to keep pace with evolving packaging trends.
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Competitive Landscape
As per FMI, top players are expected to account for over 15%-20% of global market share in 2021. Key players are focusing on collaboration with e-commerce and local vendors to increase their revenue generation.
Some of the key players are also introducing sustainable paperboard layer pads, to attract revenue. They are also collaborating with local and international beverages companies to expand their customer base and gain competitive edge.
As per Future Market Insights, Smurfit Kappa Group, DS Smith, International Paper, KapStone Paper and Packaging Corporation are identified as top layer pads market players.
Key Companies Profiled
- KapStone Paper and Packaging Corp
- KARTON SpA
- Corex Plastics Pvt. Ltd.
- Alpha Cikupa Makmur PT
- GWP Group Limited
- Shish Industries Limited
- ER&GE Limited
- QINGDAO TIANFULE PLASTIC Co. Ltd.
- Carton Northrich Inc.
- Mulford Plastics Pvt. Ltd.
- Romiley Board Mill
- Crown Paper Converting
- Samuel Grant Group Ltd.
- John Roberts Holdings Ltd.
Layer Pads Market by Category
Material Type:
- Plastic
- Polypropylene (PP)
- Polyethylene Terephthalate (PET)
- Polycarbonate (PC)
- High Density Polyethylene (HDPE)
- Polyethylene (PE)
- Other Plastic Material
- Paperboard
- Chipboard
- Solid Fiberboard
- Corrugated
End User Base:
- Food & Agro Products
- Beverages
- Alcoholic Beverages
- Non-Alcoholic Beverages
- Electronics
- Chemical
- Others (Manufacturing)
Shape Type:
- Die Cut Shape
- Flat Shape
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Table of Content
1. Executive Summary
1.1. Market Overview
1.2. Market Analysis
1.3. FMI Analysis and Recommendations
1.4. Wheel of Fortune
2. Market Introduction
2.1. Market Definition
2.2. Market Taxonomy
3. Market Viewpoint
3.1. Macro-Economic Factors
3.1.1. Global Flexible Packaging Outlook
3.1.2. Global Rigid Packaging Outlook
3.2. Global Pricing Analysis
3.3. Opportunity Analysis
3.4. Restraint Analysis
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About Future Market Insights, Inc.
Future Market Insights, Inc. is an ESOMAR-certified business consulting & market research firm, a member of the Greater New York Chamber of Commerce and is headquartered in Delaware, USA. A recipient of Clutch Leaders Award 2022 on account of high client score (4.9/5), we have been collaborating with global enterprises in their business transformation journey and helping them deliver on their business ambitions. 80% of the largest Forbes 1000 enterprises are our clients. We serve global clients across all leading & niche market segments across all major industries.
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The post Demand for Layer Pads Market is expected to grow by 5.6% CAGR by 2031 | Future Market Insights, Inc. appeared first on Future Market Insights.
