Global Automotive Parts Packaging Market 2019-2023 | Growth Analysis and Forecast | Technavio
LONDON--(BUSINESS WIRE)--Nov 23, 2018--Technavio ’s global automotive parts packaging market research report forecasts the market to grow at a CAGR of around 4% during the forecast period.
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Technavio has released a new market research report on the global automotive parts packaging market for the period 2019-2023. (Graphic: Business Wire)
The growing preference for disposable packaging will be one of the major trends in the during 2019-2023. Disposable packaging vendors are introducing innovative products during the forecast period to increase their market share. There is an increase in the demand for disposable products such as bubble wraps due to their low-cost and high efficiency. The innovations in paper packaging products are expected to drive the automotive parts packaging market.
According to Technavio analysts, one of the key drivers for the global automotive parts packaging market is the increasing demand for protective packaging:
Global automotive parts packaging market: Increasing demand for protective packaging
Protective packaging is one of the most extensively used packaging methods in the industrial packaging market. The paper cushion packaging and honeycomb packaging methods are used for automotive parts packaging. The increased production of automotive parts is promoting the demand for these packaging methods.
According to a senior analyst at Technavio for research on packaging, “During the forecast period, the advantages of protective packaging methods such as molded pulp packaging, which can be redesigned according to the product requirements, will drive the market growth. This type of packaging is manufactured from 100% recyclable paperboard and newsprints and the cost of this packaging is significantly lesser when compared with other protective packaging methods.”
Global automotive parts packaging market: Segmentation analysis
This global automotive parts packaging market analysis report provides market segmentation by product (folding carton, corrugated box, and others) and by region (the Americas, APAC, and EMEA). This report provides an in-depth analysis of the prominent factors influencing the market, including drivers, opportunities, trends, and industry-specific challenges.
Of the two major products, the folding carton segment held the largest automotive parts packaging market share in 2018, contributing to nearly 38% of the market. This product segment will dominate the global market throughout the forecast period.
The APAC region held the largest share of the market in 2018, accounting for more than 37% share. It was followed by EMEA and the Americas respectively. The APAC region is expected to dominate the market throughout the period 2019-2023.
Technavio’s sample reports are free of charge and contain multiple sections of the report such as the market size and forecast, drivers, challenges, trends, and more.
Some of the key topics covered in the report include:
Market LandscapeMarket ecosystem Market characteristics Market segmentation analysis
Market SizingMarket definition Market size and forecast
Five Forces Analysis
Geographical SegmentationRegional comparison Key leading countries
Vendor LandscapeVendors covered Vendor classification Market positioning of vendors Competitive scenario
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INDUSTRY KEYWORD: MANUFACTURING PACKAGING
SOURCE: Technavio Research
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