Clay coated recycled boxboard market is expected to grow at a solid CAGR (4.7%) over the estimate period (2022-2030), arriving at US$ 10.5 Bn constantly 2030.
Clay coated recycled boxboard (CRB) tracks down application in the bundling of dry food, pet food, clothing cleansers, and drugs. CRB is financially savvy and 100 percent recyclable, making it profoundly ideal among bundling converters.
This boxboard is viewed as great for bundling that requires a successful printable surface, is lightweight, and security purposes. The worldwide clay coated recycled boxboard market is supposed to show a CAGR of 4.7% over the conjecture time of 2022-2030.
In the midst of the Covid (COVID-19) pandemic, the clay coated recycled boxboard market is supposed to observe a drop in esteem creation in 2020, because of decrease in modern creation and abnormalities in the worldwide store network.
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In any case, the market is scheduled to make a quick recuperation by 2022 with a 4.7% Y-o-Y development, driven by flooding utilization of recycled boxboard in a few businesses, including food and refreshments, drugs, beauty care products, and gadgets. Also, buyers are supposed to progressively become cognizant in regards to food handling, which is again prone to move the development of the clay coated recycled boxboard market over the next 8 years.
"Advancements in digital printing are encouraging brands to reach a wider audience base, thus, creating remunerative growth opportunities for clay coated recycled boxboard manufacturers. Leading manufacturers are collaborating with local distributors in order to provide customized solutions to end-use customers."
Clay Coated Recycled Boxboard Market Landscape
The clay coated recycled boxboard market is highly fragmented, with prominent players accounting for below 20% of global revenue. Leading manufacturers such as International Paper Company, Smurfit Kappa, and WestRock are focusing on product development and acquisitions to meet the rising demand from wider geographies.
Moving on, small-scale manufacturers such as GreenPaper will look to increase their production capacities to maintain their market competitiveness. Other noteworthy players in the clay coated recycled boxboard market are Paperworks Industries, Inc., Netpak, Greif, GreenPaper, Strathcona Paper LP, TPC Group Co. Ltd., and Spartan Paperboard Company.
Impact of Covid-19 on Clay Coated Recycled Boxboard Market
The outbreak of Covid-19 had put the entire clay coated recycled boxboard market to a standstill in wake of partial/total lockdowns being enforced all across. Amidst uncertainties on the personal as well as professional front, opting for, or even thinking of clay coated recycled boxboard was out of question.
This was the scenario between March 2020 and September 2021. However, the market is getting back to normalcy, which is, in turn, expected to give an impetus to clay coated recycled boxboard market in the near future.
Global clay coated recycled boxboard market represents a fragmented one. International Paper Company, Smurfit Kappa, Greif and WestRock are top players in the global clay coated recycled boxboard market accounting for market share under 20%. Tier 2 players are characterized by strong presence overseas and wide product portfolio.
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Key Takeaways of Clay Coated Recycled Boxboard Market Study
- Clay coated recycled boxboard market revenue will expand around 1.5X over 2020-2030, attributable to rising adoption of products such as cereal boxes that require graphic printing for enhanced brand reputation.
- Around half of clay coated recycled boxboard market revenue would be realized by food and beverage packaging applications, owing to increasing demand from the snack packaging industry. Clay coated recycled boxboard also finds application in consumer goods such as footwear and apparel, and the trend will follow a positive curve in the coming years. Moreover, pharmaceutical packaging applications are reflecting potential growth avenues for clay coated recycled boxboard manufacturers.
- East Asia accounts for nearly a quarter of the global clay coated recycled boxboard market, majorly represented by China. Rising health awareness and high demand for pharmaceutical, beauty, and personal care products are fueling the regional market.
- Clay coated recycled boxboard offers high moisture absorption, lower weight resistance, and better printing quality output as compared to SUK and folding boxboard.
- Key players in the clay coated recycled boxboard market are embracing inorganic expansion strategies such as acquisitions to satiate the demand from wider geographies, whereas, small and medium businesses (SMBs) are strengthening their supply chains to sustain in the market landscape.
Key Segments Covered in Clay Coated Recycled Boxboard Industry Research
Clay Coated Recycled Boxboard Market by Material :
- CBR (Clay Coated Board Recycled)
- CBO (Clay Coated Recycled Multi-ply)
Clay Coated Recycled Boxboard Market by End-use :
- Food & Beverages Packaging
- Pharmaceuticals Packaging
- Cosmetics, Personal Care & Homecare Packaging
- Automotive Parts Packaging
- Electrical & Electronics Packaging
- Apparel & Footwear Packaging
- Others (Printing & Publishing, Transportation & Logistics, etc.)
Clay Coated Recycled Boxboard Market by Region :
- North America Clay Coated Recycled Boxboard Market
- Latin America Clay Coated Recycled Boxboard Market
- Europe Clay Coated Recycled Boxboard Market
- East Asia Clay Coated Recycled Boxboard Market
- South Asia Clay Coated Recycled Boxboard Market
- Oceania Clay Coated Recycled Boxboard Market
- Middle East & Africa (MEA) Clay Coated Recycled Boxboard Market
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