NEWARK, Del, July 29, 2024 (GLOBE NEWSWIRE) -- The corrugated box machine market is valued at USD 820.7 million in 2024 and is predicted to rise at a CAGR of 2.4% from 2024 to 2034. By 2034, the market is expected to exceed USD 1,040.4 million. In 2023, the market was estimated to be worth around USD 796.8 million. With the surge in online shopping, the demand for reliable and durable packaging solutions has skyrocketed, necessitating advanced corrugated box machinery.
Additionally, the shift towards sustainable packaging options is encouraging manufacturers to adopt eco-friendly practices, further driving the demand for modern corrugated box machines that can produce recyclable and biodegradable boxes. This rise in consumer awareness about sustainability, coupled with stringent regulations on packaging waste, is significantly boosting the industry's growth.
Despite the positive outlook, the corrugated box machine industry faces several restraints. High initial investment costs for state-of-the-art machinery can be a significant barrier for small and medium-sized enterprises. Additionally, the industry is heavily reliant on raw materials such as paper and adhesives, which are subject to price volatility.
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Supply chain disruptions, environmental regulations, and increasing competition from alternative packaging solutions also pose challenges. Moreover, the need for skilled labor to operate and maintain advanced machinery can limit the industry's expansion, particularly in regions with a shortage of technical expertise.
The corrugated box machine industry presents numerous opportunities, particularly in emerging markets. As industrialization and urbanization accelerate in countries across Asia, Africa, and Latin America, the demand for packaging solutions is set to rise.
Investments in automation and smart technology offer significant potential for improving efficiency and reducing operational costs. Furthermore, the increasing focus on customized packaging solutions opens up avenues for growth as businesses seek to differentiate their products with unique and innovative packaging. Additionally, advancements in digital printing technologies provide opportunities for value-added services, enhancing the overall appeal of corrugated packaging.
Recent trends in the corrugated box machine industry highlight a strong move towards automation and smart manufacturing. The integration of the Internet of Things (IoT) and Artificial Intelligence (AI) technologies is enabling real-time monitoring, predictive maintenance, and improved production efficiency. Energy-efficient machines are gaining traction as companies strive to reduce their carbon footprint. There is also a growing trend towards modular machines that offer flexibility and scalability, allowing manufacturers to adapt quickly to changing market demands. Additionally, the development of high-speed machines capable of producing large volumes of boxes in a short time is meeting the needs of the fast-paced e-commerce industry.
“Companies in the corrugated box machine market are standing out by focusing on innovation, quality, and efficiency. By investing in research and development to create advanced and reliable machines, offering excellent customer service, and ensuring that their products meet the highest industry standards, companies can differentiate themselves in the market”, Says a Lead Consultant Ismail Sutaria in Packaging at Future Market Insights (FMI).
Key Takeaways from the Market Study:
- The automatic segment dominates the global corrugated box machine sector with a share of 64.3% in 2024.
- Based on the end use, the food segment leads the corrugated box machine market with a share of 34.4% in 2024.
- The corrugated box machine industry in India is anticipated to grow at a CAGR of 4.3% through 2034.
- The corrugated box machine market in China is estimated to rise at a 3.9% CAGR through 2034.
- The corrugated box machine industry in Thailand has the potential to increase at 3.4% CAGR through 2034.
- The United States corrugated box machine market is predicted to rise by 1.5% CAGR through 2034.
- The corrugated box machine industry in the United Kingdom is likely to rise at a CAGR of 1.1% through 2034.
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Competitive Landscape:
The corrugated box machine industry is marked by intense competition, with key players continually innovating to maintain their leading positions. Companies are investing heavily in research and development to introduce advanced machinery that offers higher efficiency, sustainability, and customization capabilities.
Additionally, firms are focusing on expanding their global footprint by establishing production units in emerging markets, leveraging lower production costs and proximity to growing consumer bases. Collaborative ventures and strategic partnerships are also common, allowing companies to pool resources and expertise to stay ahead in this competitive landscape..
Key Players in the Corrugated Box Machine Industry:
- Bobst Group SA
- Körber AG
- Emba Machinery AB
- Mitsubishi Heavy Industries, Ltd.
- BHS Corrugated Maschinen- und Anlagenbau GmbH
- Fosber Group
- Isowa Corporation
- Dongguan Xinda Carton Machinery Co., Ltd.
- Latitude Machinery Corp.
- Box On Demand
- T-ROC Equipment
- MHI Corrugating Machinery Division
- Qingdao Justu Precision Machinery Co., Ltd.
- Shanghai Printyoung International Industry Co., Ltd.
- Shinko Machine Co., Ltd.
- Wenzhou Zhuding Machine Co., Ltd.
- Zhejiang Chengming Industry Co., Ltd.
- Natraj Industries
- Champion Machinery
- Packsize International LLC
Recent Developments:
- International Paper opened a new corrugated packaging facility in Atglen, Pennsylvania in September 2023, creating over 100 manufacturing jobs. The facility specializes in producing corrugated packaging for various industries.
- India's largest Corrugated Packaging Machinery Expo began in New Delhi in March 2024, featuring over 300 exhibitors and 800 brands. The event showcased the latest industry technologies and innovations.
Key Segments of the Corrugated Box Machine Industry:
By Material:
By technology, the corrugated box machine market is divided into automatic, semi-automatic, and manual machines.
By Operating Speed:
By operating speed, it is segmented into machines operating up to 200 BPH, those with speeds ranging from 201 to 400 BPH, and machines operating above 400 BPH.
By Machine Type:
By machine type, the industry includes stand-alone and integrated machines.
By End-use:
By end use, the segmentation includes the food and beverage, pharmaceutical, automotive, cosmetic and personal care, chemicals, and electrical and electronics industries.
By Region:
Key countries of North America, Latin America, Europe, East Asia, South Asia, Middle East and Africa (MEA), and Oceania have been covered in the report.
Authored by:
Ismail Sutaria (Lead Consultant, Packaging and Materials) has over 8 years of experience in market research and consulting in the packaging & materials industry. Ismail’s strength lies in identifying key challenges faced by the client and offering logical and actionable insights to equip the clients with strategic decision-making power.
Ismail has been an instrumental part of several transformational consulting assignments. His key skills include competitive benchmarking, opportunity assessment, macroeconomic analysis, and business transformation advisory. Ismail is an MBA holder in Marketing and has a Bachelor’s Degree in Mathematics.
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The global high impact corrugated boxes market size is expected to be valued at US$ 71.0 billion in 2023. Increase in international trade and export, bolsters the overall scope for high impact corrugated boxes market, which is projected to grow at a CAGR of 3.0% between 2023 and 2033, totaling around US$ 95.5 billion by 2033.
About Future Market Insights Inc. (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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