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Composite packs Market: Outlook, Opportunity and Demand Analysis, Forecast
minutes de lecture
minute de lecture
A composite pack, made up of multiple materials such as foam, plywood, plastics, polystyrene, timber, etc., could be used to provide ideal packaging solution for the goods in transit whether by road or air. It offers optimum strength and insulation properties to the material packed inside it. They are available in random shapes and sizes in pre-assembled or component form, depending upon the requirements of the customer. The composite packs, when used for packaging of fragile goods, reduce the rates of damage and offer safe delivery of the goods. The composite pack is easy to construct as it offers interlocking characteristics.
Composite packs: Market Dynamics
In recent years, the composite packs have gained wide attention for the packaging of the fragile goods produced in various industries such as electronics, furniture, consumer goods, chemicals, and automotive industry. The main driving factor for the composite packs market is the use of multiple high strength materials for the manufacturing of composite packs which offers excellent characteristics for protection of goods packed inside it. The composite packs also improve customer satisfaction levels due to the safe delivery of the products. The opportunities in the composite packs market include the ability of the composite packs to be used for the wide range of the products.
The main trend noticed in the composite packs market is the use of multiple high quality insulating materials to further improve the quality of the packs. Along with the corrugated fibre board; foam, plastics, polystyrene, plywood, and timber are widely used for the production of composite packs. The primary restraint for the composite packs market is the scarce raw material sources and the high price of the packs which may hamper its growth in near future.
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Composite packs market: Regional outlook
Geographically, the global composite packs market is segmented across the following regions- North America, Asia-Pacific, Western Europe, Eastern Europe, Latin America, Middle East and Africa. The composite packs market is growing at a good CAGR value due to increasing demand for protective packaging solutions globally. The high consumption levels of the paper and plastic packaging products in Europe makes it the market leader in the composite packs market.
The North America followed by Europe possess highest production rates for the composite packs. The Asia Pacific region witnessed trend in the rising consumption levels of the protective packaging products due to high imports in the region. The manufacturers are opting for the developing countries such as India and China for the manufacturing of composite packs due to cheap labour and raw material costs. The other developing regions including Latin America and MEA region also offer the untapped growth potential in the composite packs market.
Composite packs market: Key players
Some of the key players in the global composite packs market are Smurfit Kappa Group PLC, Nene Packaging Ltd., Logon Group, A. Latter & Co. Ltd, Coliforms Group, Quadwall Ltd., Alan Cooper Packaging, Victory Packaging, LP, Interpack Ltd., Durham Box Company, Anglian Bespoke Corrugated and Packaging Ltd.
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