Valley Cottage, NY -- (SBWIRE) -- 11/29/2017 -- Folding boxboard is a material possessing a low density and has a high stiffness and is usually made from mechanical pulp. This mechanical pulp layer is sandwiched between a top and a back sheet which is made from chemical pulp. Typically, the top layer of the folding boxboard is bleached and is often coated with pigments. Folding boxboards are used in a variety of applications such as in the packaging of chilled, frozen and other foods and they are also used in the packaging of health and beauty products.
In addition, pharmaceuticals, cigarette packaging, confectionaries and graphic packaging also utilize folding boxboard solutions. Folding boxboards are also used in packaging of luxury items, greeting cards production, paperback covers, etc. The market for folding boxboard is gaining huge traction in the developing countries of the APEJ region due to their rising population and increasing disposable income.
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Coupled with this, there is a rising awareness about environmental protection, and due to this, consumers are preferring eco-friendly packaging solutions and this is also a factor contributing to the rise of folding boxboard market.
According to the assessment of Future Market Insights, the global folding boxboard market is forecasted to reach a figure of about US$ 12,250 Mn in 2022 and is poised to exhibit a robust CAGR in the period of assessment.
APEJ Market Set to Dominate the Global Folding Boxboard Market in Terms of Revenue
The market in APEJ is set to dominate the global folding boxboard market in terms of value and this trend is projected to sustain itself throughout the assessment period. APEJ folding boxboard market is the most attractive market, growing at a robust CAGR over the forecast period.
Pulp Based Segment Slated to Touch a Value of Nearly US$ 3,900 Mn in 2022
According to the projections of Future Market Insights, the pulp based segment is expected to reach a value of about US$ 3,900 Mn in the year 2022. This signifies a moderate CAGR during the forecast period of 2017-2022. The pulp based segment is estimated to account for more than one-third of the revenue share of the material segment by the end of the year 2017 and is expected to lose in market share by 2022 over 2017.
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Higher End and General Packaging Segment to Exhibit a CAGR of Nearly 6% During the Assessment Period
According to the assessment of Future Market Insights, the higher end and general packaging segment is poised to touch a figure of about US$ 8,300 Mn in the year 2022. This signifies a CAGR of nearly 6% during the assessment period from 2017 till the year 2022. The higher end and general packaging segment is estimated to account for more than two-third of the revenue share of the application type segment by the end of the year 2017 and is projected to gain market share by 2022 over 2017.
Competition Tracking
The report also profiles companies that are expected to remain active in the expansion of global folding boxboard market through 2022, which include International Paper Co., ITC Limited, Kotkamills Oy., Mayr-Melnhof Karton AG, Metsä Board Corp., Mondi Group plc, Nippon Paper Industries Co., Ltd., SAPPI Ltd., Shandong Bohui Paper Industrial Co., Ltd. and Stora Enso Oyj.