New York, United States , Dec. 11, 2023 (GLOBE NEWSWIRE) -- The Global Dunnage Packaging Market Size to Grow from USD 3.7 Billion in 2022 to USD 5.1 Billion by 2032, at a Compound Annual Growth Rate (CAGR) of 7.2% during the forecast period.
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Dunnage packaging resembles the portable version of a superhero cape. It acts as a barrier to prevent the deterioration of your treasured cargo. Dunnage packaging, which makes use of airbags, foam inserts, or even specifically cut wood, ensures that products are secure and undamaged despite the jolts and bumps experienced during transportation. The growth of global trade and the demand for efficient and safe freight transportation both had a key role in this increase. The market was marked by the development of innovative packaging solutions, including more sustainable and ecologically friendly options.
Browse key industry insights spread across 200 pages with 100 market data tables and figures & charts from the report on "Global Dunnage Packaging Market Size By Raw Material (Fabric, Corrugated Plastic), By Application (Automotive, Electronics), By Region, And Segment Forecasts, By Geographic Scope And Forecast 2022 - 2032."
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Dunnage Packaging Market Value Chain Analysis
The process begins with the extraction or manufacture of raw materials. This may include materials such as foam, plastic, wood, or other materials used in dunnage packing. The basic materials are transformed into dunnage packaging products after processing. This might include a number of production processes, including moulding, cutting, or shaping, depending on the type of packaging being produced. During this step, the dunnage packaging is created and constructed to meet the exact requirements of the commodities it will securely transport. It considers the fragility, shape, weight, and size of the objects. The intended packaging is then produced in larger numbers. Either mass production or specialised manufacturing may be used, depending on client requests.
Dunnage Packaging Market Price Analysis
Prices for the basic materials, such as foam, plastic, wood, and others, that are used in dunnage packaging are crucial. Cost variations for these parts could have an impact on overall packing costs. The moulding, cutting, shaping, and customising processes have an impact on production costs. Efficiency in the production process and economies of scale may have an influence on pricing. Depending on the volume of the production and the number of orders, prices may change. Larger orders may benefit from economies of scale, resulting in lower unit pricing. The level of competition in the dunnage packaging market may affect pricing strategies. Competitive pricing or inventive pricing techniques to justify higher prices may come from ferocious competition.
Programmes for corporate social responsibility are placing more and more emphasis on sustainability. These initiatives are aided by green packaging, which also helps companies to demonstrate their commitment to environmental responsibility. Consumer decision-making is incorporating environmental considerations more and more. Utilising eco-friendly dunnage processes is encouraged by the fact that products with sustainable packaging usually have a market advantage. Despite the fact that the initial costs of sustainable materials may be higher, businesses are recognising the long-term cost savings associated with reduced environmental impact, waste management, and potential regulatory fines.
Packaging materials that are cutting edge and ecologically friendly can cost more than traditional ones. Adopting these materials might provide financial difficulties for enterprises, especially those engaged in large-scale production. Industries might occasionally find it difficult to change, especially if they have established procedures and are accustomed to employing traditional packaging methods. This hesitation may hinder the adoption of cutting-edge and eco-friendly dunnage packaging choices. Even if there are many new environmentally friendly packaging materials, some companies could only have a limited number of choices that meet their specific requirements. For businesses that need specific packaging, this may be an issue. Sustainable materials could run into problems with sourcing and availability along the supply chain.
Insights by Raw Material
The corrugated plastic segment accounted for the largest market share over the forecast period 2023 to 2032. Strong and flexible, corrugated plastic is well recognised for these qualities. It provides reliable cargo security throughout travel, especially for large or sensitive items. Due to the need for trustworthy packaging by businesses, corrugated plastic has become more and more popular for dunnage. Compared to traditional materials like wood, corrugated plastic is lighter. This not only reduces transportation costs, but also makes handling and assembly simpler. The development of e-commerce has increased the need for sturdy and safe packaging. Corrugated plastic has replaced other materials as the preferred choice for dunnage in the e-commerce supply chain because to its strength and versatility. Due to improvements in manufacturing technology, the manufacture of corrugated plastic dunnage solutions is now more efficient and cost-effective. expanding acceptance of it throughout industries.
Insights by Application
Automotive segment is witnessing the fastest market growth over the forecast period 2023 to 2032. The supply chains for the production of automobiles are usually broad and cross international boundaries. Durable dunnage packing is necessary for long-distance shipments of parts and finished items to prevent damage while in transit. The automotive industry has been using lean manufacturing practises increasingly to boost efficiency. Effective dunnage packaging solutions enable quick and damage-free handling of components, which is crucial for supporting lean operations. The demand for secure packaging for spare parts has increased along with the growth of e-commerce in the automobile aftermarket. Customer satisfaction increases because Dunnage packaging guarantees that these components reach clients in excellent condition.
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North America Market Statistics
North America is anticipated to dominate the Dunnage Packaging market from 2023 to 2032. The supply chains for the production of automobiles are usually broad and cross international boundaries. Durable dunnage packing is necessary for long-distance shipments of parts and finished items to prevent damage while in transit. The automotive industry has been using lean manufacturing practises increasingly to boost efficiency. Effective dunnage packaging solutions enable quick and damage-free handling of components, which is crucial for supporting lean operations. The demand for secure packaging for spare parts has increased along with the growth of e-commerce in the automobile aftermarket. Customer satisfaction increases because Dunnage packaging guarantees that these components reach clients in excellent condition.
Asia Pacific is witnessing the fastest market growth between 2023 to 2032. The countries in the Asia Pacific region, which also includes China, India, Japan, South Korea, and other countries, have seen rapid economic growth. The increasing trade activities brought on by this expansion are what fuel the need for dunnage packaging. Just a few of the sectors that largely rely on Asia Pacific as a manufacturing base include the automotive, electronics, and consumer goods sectors. As a result, there is a huge need for efficient packing options to protect goods while they are being transported. The growth of e-commerce in the region has raised the need for effective packing solutions. Dunnage packaging is necessary for the secure and safe delivery of items purchased online.
Competitive Analysis:
The report offers the appropriate analysis of the key organizations/companies involved within the global market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the, Companies Covered: Dunnage Engineering Limited., UFP Technologies, Inc, Artisanz Fabrication and Machine, LLC, MJSolpac Ltd, DS Smith Plc, Orbis Corporation, Amatech, Inc, Salco Engineering and Manufacturing Co., Inc, Interior Packaging Design, LLC, Keener Corporation, and Others.
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Recent Market Developments
- In March 2020, the plastic division of DS Smith was purchased by Liquibox, an Olympus Partners company with U.S. headquarters, for an enterprise value of roughly USD 448.6 million.
Market Size Segment
This study forecasts revenue at global, regional, and country levels from 2023 to 2032.
Dunnage Packaging Market, Application Analysis
- Automotive
- Electronics
Dunnage Packaging Market, Raw Material Analysis
- Fabric
- Corrugated Plastic
Dunnage Packaging Market, Regional Analysis
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- Uk
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- South America
- Brazil
- Argentina
- Colombia
- Middle East & Africa
- UAE
- Saudi Arabia
- South Africa
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