Global Corrugated Plastic Board Market By Material Type(Polyethylene (PE), Polypropylene (PP), Others), By Thickness(Less than 3 mm, 3 to 8 mm, Above 8 mm), By Process(Blow Molding, Casting, Multiple Extrusion, Injection Molding, Others), By End-Use(Packaging, Logistics & Transportation, Building & Construction, Agriculture & Allied Products, Others), By Region, and Key Companies - Industry Segment Outlook, Market Assessment, Competition Scenario, Trends and Forecast 2024-2033

Market Overview

The Corrugated Plastic Board Market size is expected to be worth around USD 6.3 billion by 2033, from USD 3.8 Bn in 2023, growing at a CAGR of 5.2% during the forecast period from 2023 to 2033.

Corrugated plastic board, also known as corrugated plastic sheet or Coroplast is a versatile and durable material made from twin-wall polypropylene sheets. It features a structure with fluted layers that provide strength and rigidity.

Commonly used in signage, packaging, construction, and various other applications, corrugated plastic boards are known for their lightweight nature, resistance to water and chemicals, and adaptability to a range of printing and fabrication techniques.

Key Takeaways

• Market Growth Projection: The Corrugated Plastic Board Market is forecasted to reach USD 6.3 billion by 2033, growing at a CAGR of 5.2% from its 2023 value of USD 3.8 billion.
• Material Preference: In 2023, Polypropylene (PP) dominated with a 51.6% market share, while Polyethylene (PE) played a significant role, each selected for specific qualities.
• Thickness Trend: The thickness range of 3 to 8 mm held the majority share in 2023, accounting for 48.5% of the market.
• Manufacturing Dominance: Casting was the leading process, capturing 45.6% of the market in 2023, owing to its flexibility in design and detailed shaping.
• Primary End Use – Packaging: Packaging emerged as the dominant sector, constituting more than 32.6% of the market share in 2023.
• Regional Dominance – Asia Pacific: Asia Pacific held the largest revenue share at over 42.3% in 2023, driven by rapid industrialization, urban expansion, and infrastructure projects.

By Material Type

In 2023, Polypropylene (PP) took the lead in the corrugated plastic board market, holding a strong position by capturing more than 51.6% of the market share. A lot of the corrugated plastic boards you see in the market were made mainly using Polypropylene.

Polypropylene is a kind of plastic that’s known for being useful and strong. Because it was the most popular choice in the market, it seems like a lot of companies liked using Polypropylene to make corrugated plastic boards at that time. This material is great because it’s both strong and flexible, making it good for lots of different uses.

Other materials are important in the market. Polyethylene (PE) is another type of plastic that’s commonly used to make these boards. Each material has its special qualities, like how strong the board is, how flexible it is, and how well it performs overall. Companies choose the material that works best for what they need the board to do. Choosing the right material is important because it affects how good the corrugated plastic boards turn out.

Companies usually pick a material based on what they need for making the boards and what they want the final product to be like. It’s super important for companies to understand each material type to make smart choices, make their production better, and meet all the different needs people have, whether it’s for packaging or construction. Knowing about these materials helps companies decide what’s best for making the boards and satisfying customers.

By Thickness

In 2023, the market for corrugated plastic boards saw a significant trend, with the thickness category of 3 to 8 mm taking the lead. This range held a strong position, capturing more than 48.5% of the market share. In 2023, a lot of the corrugated plastic boards you could find in the market were mostly in the 3 to 8-mm thickness range.

This thickness range became popular because it worked well for many users and different industries during that time. The thickness of these boards matters because it decide how strong, long-lasting, and versatile they are for different uses. The 3 to 8 mm range became a top choice, showing that many people liked this thickness for what they needed.

If the boards are less than 3 mm thick, they’re often chosen for jobs where you need something light and flexible. These thinner boards are good for things like temporary signs or short-term displays where being lightweight and flexible is important. Boards that are thicker, above 8 mm, are usually picked when you need something really strong and durable. These thicker boards are commonly used in tougher situations like construction signs, heavy-duty packaging, and displays that stay outside for a long time.

Even though the 3 to 8 mm thickness range was the top choice, boards in this range strike a good balance between being flexible and strong. This range is versatile and works well for lots of different things, meeting the needs of people in various industries. That’s why it became so popular in the market.

Understanding why each thickness is important is key for both people buying these boards and the companies making them. It helps everyone make smart choices based on what they need the boards to do. As the market keeps changing, the thickness choice will likely stay important for people who want the right mix of strength and flexibility for what they’re doing.

By Process

In 2023, Casting stood out as the leading process in the corrugated plastic board market, holding a strong position by capturing more than 45.6% of the market share. In 2023, a lot of corrugated plastic boards in the market were made using the casting process. This method involves pouring melted plastic into a mold, letting it cool down, and then it takes on the shape we want. Casting was the top choice for making these boards, showing that many companies liked using this way during that time.

Casting is great because it lets us be flexible with designs and create detailed shapes, making it a popular choice in the market. There are other ways to make corrugated plastic boards that are also important. One method is blow molding, where plastic gets puffed into a mold. Another is multiple extrusion, which uses several layers to create the final board. There’s also injection molding, where plastic is pushed into a mold. These methods add variety to how corrugated plastic boards are made.

When choosing a method, it can affect things like cost, how quickly we can make them, and what the final boards are like. Companies usually pick a method based on what they need for production and the specific qualities they want in the end product. So, the way they make these boards depends on what works best for them.

As the market for corrugated plastic boards keeps changing, companies need to know about each way of making them. This understanding helps them make smart choices, improve how they make boards, and meet what customers need for different things like packaging or construction. Knowing the best way to make these boards is key for companies to do well and satisfy the different needs out there.

By End Use

In 2023, the packaging sector was the top user of corrugated plastic boards, holding more than a 32.6% share. This means that a big part of these boards in the market was mainly used for packaging things during that time. Packaging is super important for many industries because it keeps things safe when they’re being moved around.

Corrugated plastic boards are really popular for packaging because they make strong and reliable packaging. These boards are liked because they’re not heavy, they last a long time, and they can be used for lots of different products.

The logistics and transportation sector also plays a big role. Corrugated plastic boards are widely used in this area because they can handle the tough conditions of shipping and handling. These boards being light helps to cut down on transportation costs while making sure goods are delivered safely.

The building and construction industry is another prominent segment where corrugated plastic boards find extensive use. These boards serve diverse applications in construction signage, protective sheets, and temporary barriers. Their combination of strength and lightweight characteristics makes them convenient for various construction-related purposes.

In the corrugated plastic board market, agriculture and related products are a big part. These boards are used in farming for things like signs, covers to protect stuff, and containers. Corrugated plastic boards are chosen in farming because they are tough, and they can handle different weather conditions. These boards are also really versatile and used in many other areas, which falls under the “Others” category. This includes industries like advertising and automotive.

It shows that these boards can work well in lots of different places. Understanding which area uses these boards the most is important for both people buying them and the companies making them. It helps everyone make smart choices based on what they need the boards to do. As time goes on, the diverse uses of these boards in different areas will probably keep making them more popular and important in the market.

Key Market Segments

By Material Type

• Polyethylene (PE)
• Polypropylene (PP)
• Others

By Thickness

• Less than 3 mm
• 3 to 8 mm
• Above 8 mm

By Process

• Blow Molding
• Casting
• Multiple Extrusion
• Injection Molding
• Others

By End-Use

• Packaging
• Logistics & Transportation
• Building & Construction
• Agriculture & Allied Products
• Others

Drivers

A few things have been making the corrugated plastic board market grow. One big reason is that more and more people want packaging that’s good for the environment. Corrugated plastic boards are great because you can use them again, and they can be recycled. This fits well with the global push for eco-friendly practices. As businesses and people choose packaging that’s better for the Earth, the demand for corrugated plastic boards has gone up a lot.

The growth of online shopping has also helped the market. Corrugated plastic boards are commonly used for packing things people buy online because they’re strong and not too heavy. As online shopping keeps getting more popular, the need for reliable and tough packaging materials like corrugated plastic boards has gone way up.

Corrugated plastic boards are becoming more popular because they can be used in many different industries. They’re used in construction, advertising, farming, and even in cars. These boards can do a lot of different jobs, and that’s why many people like them. This popularity in various industries is helping the market grow.

Using new and better ways to print on these boards is also making the market bigger. Corrugated plastic boards are often used for signs and promotional stuff. With improved printing techniques, these boards can have colorful and high-quality pictures, making them attractive for advertising and branding.

Another reason why these boards are getting popular is that they’re not too expensive. When compared to traditional materials like wood or metal, corrugated plastic boards are a more affordable option. This makes them a smart choice for many different uses without sacrificing performance. Even in construction, these boards are finding more uses.

They’re used for signs, protective sheets, and temporary barriers because they’re light and strong. This helps the market to keep growing. So, the corrugated plastic board market is growing because people care about the environment, online shopping is increasing, the boards are versatile, printing on them is getting better, they’re cost-effective, and more industries are using them. All of these things together show that the market will keep going up in the coming years.

Restraints

In 2023, the corrugated plastic board market faced some tough challenges that slowed down its growth. One big issue was the supply chain being vulnerable. Things like problems between countries, trade arguments, and disruptions from natural disasters could make it hard to get corrugated plastic boards reliably. Dealing with these uncertainties made the market more complicated, and the companies had to be flexible and strong to handle these situations.

Environmental worries were also a problem for the market, especially when making corrugated plastic boards. The ways these boards were made caused concerns about using too much energy, creating emissions, and managing waste. This made people think about how to make things in a way that’s better for the environment. For the companies making these boards, it became crucial to find a balance between being eco-friendly and meeting the production needs.

Another issue was the prices going up and down a lot. The costs of the materials used to make corrugated plastic boards kept changing, affecting how much it cost to produce them and how much profit could be made. This made it tricky for both the companies making the boards and the people buying them. They had to make smart plans and manage risks carefully to deal with these uncertainties.

Rules about how to take care of the environment, keep people healthy, and make things safely made things a bit hard for the corrugated plastic board market in 2023. Following these rules as they kept changing needed investments in new technology and ways of doing things. This could affect how much it costs to make these boards and how well the market could compete with others.

Also, the market relied a lot on certain industries like packaging and construction. If these industries didn’t do well because of economic problems or if people started liking different things, it could mean fewer people wanting corrugated plastic boards. This made the market a bit shaky. To handle these challenges, the people involved in the corrugated plastic board market needed to be smart and careful.

They had to find ways to deal with problems in the supply chain, use more eco-friendly methods to make the boards, handle the ups and downs in prices, follow the rules, and try working with new industries. By doing these things, they aimed to make the market stronger and keep it growing over time.

Opportunities

In 2023, there were great chances for the corrugated plastic board market to grow and get better. One big opportunity was the need for more sustainable packaging. Corrugated plastic boards, because they could be used again and recycled, fit well with the global push for eco-friendly practices. As companies and people wanted packaging that was good for the environment, the demand for corrugated plastic boards went up.

The growing e-commerce sector also brought a good chance. Corrugated plastic boards were really useful in packaging for things people buy online because they’re tough and not heavy. As online shopping kept growing, there was more and more need for strong and reliable packaging materials, and corrugated plastic boards became even more popular.

In 2023, there were chances for the corrugated plastic board market to do better by trying out new things. One opportunity was to use these boards in different industries, not just the usual ones like making steel or electric vehicles. Finding new areas where corrugated plastic boards could be useful helped make the market stronger and more flexible, not relying too much on just a few industries.

Putting more money into research and development (R&D) activities was another chance. This meant trying to find new and better ways to use corrugated plastic boards. By figuring out fresh uses and improving how these boards were made, there was a chance to get more customers and be better than others in the market.

So, in 2023, the corrugated plastic board market had opportunities to grow because of worldwide trends, new technologies, and a focus on being good for the environment. Companies that were smart about taking advantage of these chances were set up for success in a market that was always changing and adjusting to what people needed.

Regional Analysis

Asia Pacific (APAC) had the largest revenue share at over 42.3% in 2023. The region’s rapid industrialization and urban expansion have fueled heightened activity in construction, manufacturing, and infrastructure development, driving a notable demand for corrugated plastic boards. This demand is particularly evident in applications such as signage, packaging, and construction materials.

Furthermore, countries across the Asia Pacific are channeling significant investments into diverse infrastructure projects, including energy distribution, transportation, and telecommunications networks. These ventures require versatile materials like corrugated plastic boards, contributing to their widespread utilization. The region’s increasing commitment to renewable energy initiatives, notably in wind and solar power, further underscores the significance of corrugated plastic boards, as they find applications in manufacturing components for these sustainable systems.

Key Regions and Countries

• North America
  • US
  • Canada
  • Mexico
• Europe
  • Germany
  • UK
  • France
  • Italy
  • Russia
  • Spain
  • Rest of Europe
• APAC
  • China
  • Japan
  • South Korea
  • India
  • Rest of Asia-Pacific
• South America
  • Brazil
  • Argentina
  • Rest of South America
• MEA
  • GCC
  • South Africa
  • Israel
  • Rest of MEA

Key Players Analysis

As of the most recent data, the Corrugated Plastic Board Market is influenced by several key players actively shaping its landscape. Prominent companies in this market are dedicated to the production, processing, and supply of a wide array of corrugated plastic board products across diverse industries. These industry leaders typically operate on a global scale, implementing strategic measures like mergers, acquisitions, partnerships, and product advancements to uphold their competitive positions.

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• DS Smith plc
• Beaulieu International Group
• ICC Industries Inc.
• Jain Irrigation Systems Ltd.
• Inteplast Group Corporation
• SIMONA AG
• Karton S.p.A
• Tah Hsin Industrial Corp.
• Corex Plastics Pty. Ltd.
• Plastflute Manufacturing Sdn. Bhd.
• Twinplast
• Zibo Hongwei Plastics Co. Ltd.
• Creabuild Trading LLC
• Sangeeta Group

Recent Developments

In 2022, the remaining interest in GRUPO Gondi was purchased by Westrock Co., A U.S.-based manufacturer of containerboard and packaging, for USD 970 billion plus the assumption of debt. GRUPO Gondi runs nine corrugated packaging plants, four paper mills, and six high graphic plants throughout Mexico. After the transaction was completed, the company had reportedly further strengthened its position in the expanding Latin American markets.

In 2022, Menasha packaging company, L.L.C., a Menasha corporation subsidiary, announced the signing of a contract to buy the assets of color-box, a Georgia-Pacific, L.L.C. business unit. Early summer 2022 is the anticipated completion date for the acquisition. Like Menasha packaging, color-box is a corrugated packaging manufacturer focusing on high-graphic boxes. This partnership will help the business’s geographic reach and give its clients more graphic, design, and structural packaging options.

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