Hexacomb packaging made stable progress over the last five years, and forecasted to grow at a high rate. A hexacomb packaging is a heavy paperboard which enables the safe transportation and storage of different type of products such as electronics, furniture, FMCG products etc. Hexacomb packaging is mainly used for protective packaging. The hexacomb packaging boxes can be of various sizes, shapes and can used for various application. Hexacomb packaging is easy to design and model according to the brand owners’ need.
Hexacomb Packaging Market – Market Segmentation:
The global hexacomb packaging market can be segmented on the basis of product type, function type, end use, and by region. On the basis of product type, hexacomb packaging market can be segmented into the container, cartons, boxes and others. On the basis of application type hexacomb packaging market can be segmented food & beverages, automotive goods, furniture, consumer goods, industrial goods and others. On the basis of function type hexacomb packaging can be segmented into cushioning, blocking & bracing, void-fill, insulation, and wrapping. On the basis of region, hexacomb packaging market can be segmented into North America, Latin America, Europe, Asia-Pacific and the Middle East & Africa.
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Hexacomb Packaging Market – Market Dynamics:
The fulfillment of online sales will be the major driver of growth for hexacomb packaging market. There are other factors also which are supporting in healthy expansions of hexacomb packaging products such as protective mailers, air pillows, and bubble packaging. Among these air pillows will be the fastest growing hexacomb packaging products. Moreover, void-fill materials benefiting the hexacomb packaging market to gain advantages over other fill materials regarding cost-effectiveness and less material usage. Government regulation towards the use of plastic is expected to hamper the growth of hexacomb packaging market. Also, the high initial cost of hexacomb packaging material is considered as another restraining factor towards the growth of hexacomb packaging market.
Hexacomb Packaging Market – Regional Outlook:
Geographically, the global hexacomb market is segmented into North America, Latin America, Europe, Asia-Pacific (APAC) and the Middle East & Africa (MEA). The global hexacomb packaging market is expected to witness a stable CAGR over the forecast period of 2016-2024. Entering new markets like Asia, Russia, and South America would be larger opportunities for hexacomb packaging market.
Moreover, North America is expected to witness a high growth of hexacomb packaging market due to the rising consumption of food and beverage products. The demand of the hexacomb packaging market is projected to witness an above average growth in Europe as well due to the higher adoption of hexacomb packaging for automotive and commercial use.
Hexacomb Packaging Market – Major Players:
Some of the major players identified across the globe in the hexacomb packaging market are DS Smith Plc, Sealed Air Corporation, Sonoco Products Company, Green Packaging Technology Co. Ltd., Shanghai Boyang Packaging Technology Co. Ltd., ACH Foam Technologies LLC, BASF SE, Bayer AG, NEFAB GROUP, Pregis North America, Smurfit Kappa Group Plc, RockTenn Company, Cascades, Huhtamaki OYJ, Packaging Corporation of America, Zhejiang Kaipei Packaging Co., Ltd. and Linyi Guosheng Color Printing & Packing Co. Ltd.