Oct 2, 2017   SOURCE: BusinessWire

Corrugated Box Making Machine Market - Segments and Forecast by Technavio

The global corrugated box making machine market is expected to grow at a CAGR of more than 2% during the forecast period, according to Technavio’s latest report.

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Technavio has published a new report on the global corrugated box making machine market from 2017-20 ...

Technavio has published a new report on the global corrugated box making machine market from 2017-2021. (Graphic: Business Wire)

In this report, Technavio covers the market outlook and growth prospects of the global corrugated box making machine market for 2017-2021. The market is segmented based on end-user, which includes food and beverages goods, electronic goods, home and personal care goods, textile goods, and paper goods.

During 2010-2015, the global demand for fast-moving consumer goods (FMCG) witnessed a substantial growth, and considering the high demand for electronic products, the market for corrugated boxes is expected to witness growth during 2016-2021. The demand for corrugated boxes in the food and beverage and electronic goods industries is expected to increase during the forecast period because these two industries are the top users of corrugated boxes. Since their invention, corrugated boxes have been mainly used to pack and transport food and beverage products.

Technavio’s heavy industry research analysts categorize the global corrugated box making machine market into the following segments by regions:

  • APAC
  • Americas
  • EMEA

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APAC: largest corrugated box making machine market

China and India dominated the corrugated box making machine market in APAC. The demand for corrugated boxes is also expected to increase from other Southeast Asian countries as these consumable products have not reached the maturity stage. With increasing urbanization and growth of the middle-class population, the demand for various products across different industries is expected to grow during the forecast period.

“The increasing demand for various products across different industries will certainly be a positive driver for the packaging industry, especially the corrugated boxes used for packaging and transportation. This is anticipated to increase the demand for corrugated box making machines in APAC during the forecast period,” says Gaurav Mohindru, a lead analyst at Technavio for research on engineering tools.

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Corrugated box making machine market in the Americas

Like EMEA, the Americas witnessed a slow growth in the demand for various products and services owing to the economic slowdown during 2012-2015. The packaging industry in the US and Canada showed stagnant growth during the corresponding period.

“The corrugated box market in the US mainly witnesses demand from the food and beverage industry. Fresh produce, as well as non-perishable products, are packed in lightweight boxes, whereas beverages require heavy boxes. The beginning of 2016 witnessed a gradual increase in the demand for corrugated box making machines owing to the rise in the demand for packaging materials,” adds Gaurav.

Corrugated box making machine market in EMEA

The corrugated box making machine market in EMEA saw a decline in demand for corrugated boxes during 2012-2015 in the wake of low crude oil prices, which led to the overall economic slowdown in the Middle East region. The slowdown in the oil and gas industry augmented the slowdown in demand for consumer and industrial products, which in turn, hit the packaging industry in this region.

The major market driver for corrugated box making machines market arises from the rapid development in many African countries, which is expected to increase the demand for FMCG and electronics products, owing to the rapid growth in middle-class population and overall disposable incomes. This is anticipated to have a direct impact on the demand for consumer and end-user products.

The top vendors in the global corrugated box making machine market highlighted in the report are:

  • BCS Corrugated
  • Dongguang Ruichang Carton Machinery
  • Fosber Group
  • Zemat Technology Group
  • Zhongke Packaging Machinery

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