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A recent report published by Infinium Global Research on the automotive parts packaging market provides in-depth analysis of segments and sub-segments in the global as well as regional automotive parts packaging market. The study also highlights the impact of drivers, restraints, and macro indicators on the global and regional automotive parts packaging market over the short term as well as long term. The report is a comprehensive presentation of trends, forecast and dollar values of the global automotive parts packaging market. According to the report, the global automotive parts packaging market reached a value of USD 8,596 million in 2020. The market is expected to further grow in the forecast period of 2020-2026 at a CAGR of 4.2% to reach USD 10,980 million by 2026.
Packaging is fundamentally a
system for protecting and enclosing a product from any kind of damage. It plays
a very essential role in the hygienic handling as well as a safe storage of a
product. Furthermore, packaging also offers protection from environmental
aspects, for example, moisture, dust, and wind. Apart from protecting the
product, it also supports marketing the product to customers. Moreover,
numerous types of material are utilized for packaging which comprises foam,
molded pulp, plastic wood, void fill, plastic, and corrugated among others. For
packaging of automotive parts, they use several materials for expendable
packaging returnable packaging of components for shipping. Also, the
multiple-layer packaging safeguards automotive parts from scratches, moisture,
corrosion, and numerous other hazards. In addition to this, the packaging does
not only offer the protection it also helps in marketing the products to the
consumer.
Increasing immersion of electrical
& electronic equipment in automobiles and the consumer preference for
eco-friendly packaging along with the high demand for the ridged packaging
products is increasing the demand for the market. Furthermore, the rapid growth
in the usage of disposable packaging as it is being utilized once only is
likely to boost the demand for more effective packing methods. On the other
hand, stringent government regulation is a major factor that may hinder the
growth of the automotive parts packaging market. Since the waste generated for
the packaging of electronic and electrical parts is augmenting. Consequently,
this might affect the growth of the automotive parts packaging market.
Global automotive parts packaging
market segmentation is based on product type, packaging type, component type,
and region. On the basis of product type, the automotive parts packaging market
is divided into corrugated boxes, reusable containers and cases, crates, trays,
folding cartons, bags & pouches, pallets, and protective packaging. Based
on component type, the market is divided into cooling systems, automotive
filters, underbody components, lighting components, batteries, engine
components, and electrical components. On considering the packaging type, the
market is divided into disposable and reusable. Geographically, the global
automotive parts packaging market is classified into North America, Europe,
Asia Pacific, and RoW.
The report on global automotive
parts packaging market covers segments such as product type, packaging type,
and component type. On the basis of product type, the sub-markets include
corrugated boxes, reusable containers and cases, crates, trays, folding carton,
bags & pouches, pallets, and protective packaging. On the basis of
packaging type, the sub-markets include disposable, and reusable. On the basis
of component type, the sub-markets include cooling system, braking & suspension,
body chassis, interior, transmission & steering, engine components, and
electrical and electronics components.
The report provides profiles of
the companies in the market such as Mondi, Smurfit Kappa, Victory Packaging,
Primex Design & Fabrication, Sonoco Products Company, CMTP, DS Smith, NEFAB
GROUP, Pratt Industries, Inc., and Encase Ltd.
The report provides deep insights
into the demand forecasts, market trends, and micro and macro indicators. In addition,
this report provides insights into the factors that are driving and restraining
the growth in this market. Moreover, The IGR-Growth Matrix analysis given in
the report brings an insight into the investment areas that existing or new
market players can consider. The report provides insights into the market using
analytical tools such as Porter's five forces analysis and DRO analysis of the automotive parts packaging market. Moreover, the study highlights current
market trends and provides forecast from 2020-2026. We also have highlighted
future trends in the market that will affect the demand during the forecast
period. Moreover, the competitive analysis given in each regional market brings
an insight into the market share of the leading players.
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