Published on : Dec 18, 2019
Fluted plastic board is generally made out of polypropylene, which can be easily recycled. Fluted plastic boards are lightweight and are well known for its versatility and thus it is ideal for use across multiple applications in many industries. The global fluted plastic board market is likely to gather momentum from its extensive use in packaging, graphic arts, automotive, and agriculture sectors.
Fluted plastic board comes with excellent resistance to acid or chemical attacks and they could be either non-fire retardant or fire retardant. In addition, it also has good electrical insulation and low moisture absorption. Such utilities are expected to offer copious growth opportunities for the global fluted plastic board market during the period of forecast.
Some of the prominent names in the global fluted plastic board market are Zibo Kelida Plastic, Primex Plastics, Tah Hsin Industrial, Coroplast (Inteplast Group), Northern Ireland Plastics, and Corex Plastics.
Based on product, end user, and region the global fluted plastic board market has been segmented to provide a detailed view of the market.
The Market to be Driven by Augmented Awareness about Sustainable and Green Products
The global fluted plastic board market is prognosticated to be driven by the growing consumer awareness about sustainable and green products. Fluted plastic boards are reasonably priced and easily recyclable making it an environment friendly solution, which is why it has become a popular choice for a wide variety of applications across many industries. A case in point is an announcement by National Environment Agency, Singapore in 2016 that makes it mandatory for companies to use sustainable materials in packaging and substantially diminish packaging-related waste in the few years.
In addition, fluted plastic board packaging consists of 88% of reusable content and the supplementary fresh fibers are extracted sustainably managed forests. Nevertheless, if packages made of fluted plastic board are disposed of in the ocean, it is degraded in a span of two months. Many e-commerce platforms like Amazon are shifting toward flexible board packaging due to its cost effectiveness and environment friendliness. Sustainability of the product is likely to support growth opportunities of the global fluted plastic board market over the assessment period.
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Apart from its extensive use as much in demand packaging solutions, other popular applications of comprise vehicle trunk liners, retail displays, as separators or liners in packaging, trade shows, crates, signage, and binding/stationary. As shipping containers, fluted plastic board serve as a waterproof, sturdy, reusable, and returnable option. Such features are likely to open up new avenues of growth for the global fluted plastic board market over the tenure of forecast.
On the other hand, some barriers make entry of the new entrants in the market difficult. Some of the obstacles for the new entrants comprise high initial investment, high cost of product development, stringent regulatory requirements. Resorting to unjust methods to gain competitive advantage remains quite a big hindrance for the growth of the global fluted plastic board market in years to come.
North America to Retain its Dominant Position over the Period of Review
The global fluted plastic board market is split into the major regions of Middle East and Africa, Asia Pacific, North America, Latin America, and Europe. Regional segmentation of the market is likely to offer a clear understanding of the market dynamics that are at play in each of these regions.
From the geographical standpoint, it is estimated that North America would remain a dominant region throughout the period of review. Increased awareness about the importance of sustainable and green solutions coupled with technological advancement in plastic packaging solutions is expected to propel the growth of the global fluted plastic board market in years to come. In addition, presence of several leading market players in the region is likely to encourage growth of the regional market in times to come.