- 46% of automotive parts packaging growth to be generated from APAC.
NEW YORK, Sept. 5, 2022 – The “Automotive Parts Packaging Market – Forecast and Analysis 2022-2026” report has been added to Technavio’s offering. With ISO 9001:2015 certification. The potential growth difference for the automotive parts packaging market between 2021 and 2026 is USD 1.90 billion, as per the latest market analysis report by Technavio.
However, the report will witness a decelerating growth momentum at a CAGR of 4.6% during the projected period. The analysts at Technavio have categorized the global automotive parts packaging market as a part of the global automotive components and accessories market. The increasing demand for protective packaging is one of the key drivers propelling the automotive parts packaging market growth. In addition, the growing preference for disposable packaging is one of the key automotive parts packaging market trends supporting the market growth. On the other hand, the rise in raw material costs is one of the factors limiting the automotive parts packaging market growth.
Key Market Segment Highlights
The automotive parts packaging market report is segmented by product (Folding carton, Corrugated box, and Others) and geography (APAC, North America, Europe, South America, and the Middle East and Africa).
- Revenue-generating Insights: The automotive parts packaging market share growth in the folding carton segment will be significant during the forecast period. Folding carton is the major type of packaging used in the global automotive parts packaging market, owing to their cost efficiency, availability in various sizes, and flexibility. They are manufactured in various sizes and shapes and are often delivered as flat paperboards, marked with folding lines to ease the packaging process. Moreover, with the growth in automotive sales, there will be an increase in the demand for folding cartons during the forecast period.
- Regional Opportunities: 46% of the market’s growth will originate from APAC during the forecast period. China, Japan, and India are the key markets for the automotive parts packaging market in APAC. Market growth in this region will be slower than the growth of the market in Europe. Rapid industrialization and urbanization, which are paving the way for economic transformation will facilitate the automotive parts packaging market growth in APAC over the forecast period.
Some Companies Mentioned with their Offerings
- Cascades Inc.: The company offers Cascades containerboard packaging for automotive parts packaging
- Deufol SE: The company offers blister packaging for automotive parts and components
- DS Smith Plc: The company offers GALIA and IMC automotive packaging products which are standard regular slotted cases, with dimensions corresponding to sub multiples of standard pallets
- GWP Group Ltd.: The company offers packaging solutions under various brands such as GWP Correx, GWP Protective, and others.
- JIT Packaging Inc.: The company offers custom or contract molding and urethane as packaging solutions for automotive parts.
- EZ Custom Boxes
- IPS Packaging and Automation
- Mondi plc
- Nefab AB
- Pacific Packaging Products Inc.
- Packaging Corp. of America
- Packman industries
- Pratt Industries Inc.
- Sealed Air Corp.
- Signode India Ltd.
- Smurfit Kappa Group
- Sonoco Products Co.
- Sunbelt Paper and Packaging
- THIMM Group GmbH Co. KG
- Victory Packaging LP