Paper Honeycomb Market size is anticipated to exceed USD 6 billion by 2032, according to a new research report by Global Market Insights Inc.
Manufacturers in the booming electronics sector are more likely to use sustainable alternatives to support their strategic priorities and choose durable and highly protective packaging for transportation while minimizing discomfort for the receiver. To meet the surging consumer demand, leading corporations are making efforts to create novel packaging solutions, which is estimated to drive market expansion.
Rising demand for custom packaging to foster the slices unexpanded segment growth
Based on core, the paper honeycomb market revenue from the slices unexpanded segment crossed USD 330 million in 2022. Certain businesses require paper honeycomb cut to size for certain applications and specific dimensions, which are fit to use when fully enlarged, making them suitable for protecting the edges of goods. Moreover, increased R&D efforts to identify alternate product uses are expected to promote segment growth.
Growing demand for lightweight components to accelerate automotive segment growth
Based on application, the automotive segment is predicted to record over 4% CAGR through 2032. The growing use of paper honeycomb among automakers to reduce the weight of components in interior applications of automobiles, such as trunk-load flooring, hatchbacks, and sunshades, is forecast to promote segment expansion. The European vehicle industry was the first to recognize the trend of using paper honeycomb for automotive applications, followed by North America as EPA laws and carbon footprint usage requirements tightened.
Browse key industry insights spread across 250 pages with 173 market data tables & 21 figures & charts from the report, “Paper Honeycomb Market Size by Core (Continuous Unexpanded, Slices Unexpanded, Pre-Expanded Sheets), By Application (Automotive, Building & Construction, Household Appliances, Furniture, Food & Beverages, Ceramics, Glass, Distribution, Electronics, Metal Mechanics), Industry Analysis Report, Regional Outlook, Growth Potential, Price Trends, Competitive Landscape & Forecast, 2023 - 2032” in detail along with the table of contents:
Favorable policies promoting the use of sustainable materials to augment North America industry revenues
North America paper honeycomb market is projected to surpass USD 1 billion by 2032 resulting from the domestic policies implemented by several North American countries aimed at preventing, reducing, and eliminating plastic pollution while promoting sustainable production and consumption. Furthermore, the regional market growth is likely to be propelled by the rising need for sustainable materials in the packaging sector to support e-commerce expansion, which has prompted industry participants to bolster their production.
Novel product launches to define the competitive landscape
Some leading manufacturers in the paper honeycomb market are IPC Industrial Packaging Corporation, Sunrise MFG Inc., Greencore Packaging, DuPont, American Containers, and Hexcel Corporation, among others. Businesses are leveraging new technologies to develop innovative products and extend their product ranges in a bid to broaden their global reach.
To cite an instance, in May 2022, Alkindo Naratama, a manufacturer of (converted) paper products, created a green product as an alternative for the first plastic bubble wrap in Indonesia, called Hexcel Wrap, in the form of a honeycomb structure composed of recycled paper to minimize plastic waste, which is commonly utilized in e-commerce firms.
Explore More on Related Topics: