U.S. corrugated and folding boxboard market size is projected to surpass an annual valuation of over US$93.8 billion by 2026. Corrugated and folding boxboards have established themselves in the flexible packaging world over the past decade, with robust developments in digital printing technologies and the explosion of ecommerce. These materials are extensively used in the packaging of homecare and personal care products including food and beverage products, kitchen utensils, and myriad other daily-use products.
With rapid growth in the Hispanic population in the U.S. over the past few decades, the demand for luxury personal care and home care products has increased significantly.
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- Widespread adoption of digital printing technology
Digital printing, flexography, and lithography are among the different technologies used for printing corrugated and folding boxboards. Digital printing segment is estimated to witness a steady CAGR through 2026. The process differs from conventional printing methods like lithography and flexography which use a series of cylinders and printing plates to transfer the image to be printed. Digital printing provides several added advantages such as the ability to print multiple colors at the same time compared to lithography and flexography.
- Growing popularity of double wall corrugated boxes
Double wall corrugated boxes have gained wide popularity in recent years on account of advantages such as greater rigidity, and enhanced protection. Double wall corrugated boxes captured more than 20% revenue share in 2019. Double fluting used in these boxes offer improved protection by absorbing shock and providing a cushioning effect to packaged products. These benefits make double wall corrugated boxes an ideal choice for many homecare and personal care products that require long-term stacking.
- Extensive application in home appliances and electronics
The demand for corrugated and folding boxboards in packaging of home appliances and electronics is projected to grow substantially over the next few years. Electronics and household appliances are highly sensitive and need additional protection to prevent damage during transportation. Corrugated boxes are widely preferred in these applications as they fulfil these criteria. These boxes are used for packaging of televisions, air conditioners, refrigerators, and myriad other home appliances to prevent damage during transportation.
- Significant export value in North West U.S. region
Considering the regional landscape, North West region of U.S. is poised to witness a notable growth in the forthcoming years, mainly on account of high export values. In terms of exports, California ranks second among the U.S. states. The state is engaged in the export of myriad products such as chemicals, crops, and industrial machinery. In 2018, California accounted for a nearly 6% of transportation equipment from the U.S., and more than 21% of total U.S. exports of electronics. These trends are likely to create favorable opportunities for local packaging manufacturers.
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- Adoption of sustainable approaches by manufacturers
All Packaging Company, DS Smith Plc, U.S. Corrugated Inc., Accurate Box Co., Inc., Montebello Container Company LLC., Packaging Corporation of America, Pratt Industries, Inc., Cascades Inc., Evergreen Packaging LLC., Smurfit Kappa Group, and Westrock Company are among the notable suppliers of corrugated and folding boxboards in the U.S.
These companies are adopting sustainable approaches to product manufacturing to achieve a circular economy. In August 2020, sustainable packaging company DS Smith opened its first recycling facility in the U.S. which can recycle over 36,000 tons of old corrugated carboard per year.
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