Honeycomb Packaging Market

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Honeycomb Packaging Market- Global Industry
Insight, Trends, Outlook, and Opportunity
Analysis 2017-2025

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REPORT DESCRIPTION
Honeycomb Packaging Market Overview
Honeycomb structures are naturally occurring or
man-made that have the geometry of a honeycomb.
These are used between two thin sheets to make
materials for honeycomb packaging. Honeycomb
structure aids the material used in packaging in
reducing density and increasing shear and
compression properties. This enables in
minimizing the material usage and maximizes
strength. Honeycomb packaging is 100
ecofriendly, lightweight, shock absorbent and
does not change in dimensions with temperature
variations. It provides advantages such as easy
handling and transportation, easy disposal, and
low cost. Increasing demand for sustainable
packaging by various industries such as
automotive, furniture, consumer goods, and others
are the major growth drivers for honeycomb
packaging. Furthermore, the growing demand for
e-Commerce sector owing to increasing utilization
of smart phones is propelling the growth of
packaging industry, which in turn has augmented
the growth of honeycomb packaging. Increasing
demand for flexible packaging is the major
challenge to honeycomb packaging market.
Stringent government regulation by U.S.
Environmental Protection Agency and other
regulatory bodies on the recyclability and
environment hazards of the material used in
flexible packaging such as plastic and aluminium
is expected to boost growth of the honeycomb
packaging market as honeycomb packaging is made
from environment friendly material.
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REPORT DESCRIPTION
The honeycomb packaging market is segmented on
the basis of packaging type as exterior
packaging, interior packaging, pallets, and
others. Exterior packaging is the largest
packaging type segment in the market as it
provides enhanced safety in product
transportation and is easy to handle. The
honeycomb packaging market is segmented on the
basis of end-use industry as automotive, consumer
goods, food and beverages, furniture, industrial
goods, and others. Protective packaging is an
important part of the automotive supply chain.
Honeycomb packaging is the effective method for
packaging bulky products and automotive parts as
it offers enhanced safety. North America was the
dominant market with a market share of 34.79 in
2016. This is attributed to various initiatives
taken by government agencies such as US
Environment Protection Agency (EPA) to reduce
packaging wastage. According to the United States
Environment Protection Agency (EPA), packaging
materials form 23 of the landfills. The
government has set regulations to reduce
packaging wastage and this is driving demand for
environment friendly packaging materials such as
honeycomb packaging. Request sample of Copy of
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REPORT DESCRIPTION
Asia Pacific is the fastest growing market in the
forecast period. This is attributed to growing
demand for packaging from automotive and
e-Commerce sectors in emerging economies such as
India and China. For instances, according to
Automotive Mission Plan 201626 by Society of
Indian Automobile Manufacturers (SIAM) and Indian
Government, the Indian automotive OEM market is
expected to grow from 10 to 15 to reach US
16.5 Bn by 2021 from US 7 Bn in 2016 and
generate upto US 300 Bn in annual revenue by
2026. According to India Brand Equity Foundation,
the total online spending by the consumers is
estimated to increase by 31 Y-o-Y to reach US
135.8 Bn by 2018 and cross border shopping was
valued at US 9.1 Bn in 2016 and is estimated to
increase by 85 Y-o-Y in 2017. Honeycomb
packaging market was valued at US 9.64 Bn in
2016 and is projected to register a CAGR of 6.5
in terms of revenue, during 201702025. The
major market players operating in the honeycomb
packaging market are ACH Foam Technologies, BASF
SE, DS Smith Plc, Huhtamaki Group, Lsquare
Eco-Products Pvt. Ltd., Packaging Corporation of
America, Sealed Air Corporation, Sonoco Products
Company, Smurfit Kappa Group, and WestRock
Company. To Get Discount on this Report
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