As per the report by Grand View Research Inc., the global Dunnage Packaging Market estimated at USD 4.8billion by 2027. It is projected to develop by 6.1% CAGR from 2020 to 2027.
Increasing demand for the environmentally friendly and the sustainable solutions of the packaging, because of their price efficiency, when contrasting to the disposable packaging, is projected to impel the development of the market for Dunnage Packaging. The Dunnage packaging is broadly utilized in diverse user industries, for example, consumer durables, aerospace, foodstuff & beverages and others. These industries practice traditional Dunnage solutions to alter the form of the products packed; it not only protects the filled manufactured goods but assists in optimizing and reducing the area of the consignment. Owing to the growth in demand for 360o safety for the product and biodegradability, the Dunnage packaging, is mainly used in the automotive application. Here, foam based and corrugated paper packaging help in safeguarding the lightweight packaging, at the same time reducing the costs of handling and transportation plus keeping up the structural reliability of the automotive components.
As a result of growing demand for the product from the diverse user industries such as aerospace, automotive and the electronics, the Asia Pacific is expected to be the speedily developing plus the biggest regional market, during the period of forecast. Moreover, speedy urban development in the nations, for example, Australia, China and India, has led to the augmented utilization of the consumer durable goods. FMCG and the automotive components, those necessitate Dunnage Packaging. This, sequentially, will assist in increasing the development of the market. On the other hand, the manufacturing procedure of custom made Dunnage Packaging needs huge capital investment. Furthermore, it comprises a greater cost, to arrange for the production plant of the preliminary products. Furthermore, speedy technical progressions offer growth to the manufacturing of inventive equipment, this is much expensive to purchase. As the profit on the investment is greater for an extensive period, only those industry players, possessing ability of huge investment, are expected to come into this market.
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Effect of Covid-19:
As a result of the global eruption of Covid-19 pandemic, the market for Dunnage Packing is estimated to suffer a huge loss. The pandemic caused an immense damage worldwide. During the pandemic, merely necessary supplies are permitted for the production and to supply in the market by the several nations. It is estimated that the development of the market for Dunnage Packing will be sluggish, throughout this pandemic, and will progressively develop, when the entire working of the market will start.
Further findings from the report suggest:
- Increasing demand for the foam source, fabric, and thermoplastics Dunnage resolution for the packing of illustrious electronic components, owing to the capability of the product to reveal the static dissipative or anti-static possessions, is expected to power the development of the sector.
- The foam source packaging resolution presents “A” category shock & vibration protection, cushioning support and surface protection. Sequentially, this is expected to boost the demand for foam sourced Dunnage resolutions.
- Because of the increasing importance for the sustainability in the shipping & logistics packing, the corporation tries to assist the manufacturers and the service suppliers to take a hold of holistic vision of the products, ecological procedures, delivery system, and packages.
- Foam sourced raw material is estimated to rise by a CAGR of 6.8%, in terms of revenue, during the period of forecast.
- The sector of electronics application is estimated to record the best ever CAGR during the period of forecast.
- Owing to the increasing use and the sale of automobile vehicles, the Asia Pacific is estimated to observe the speedy development for the duration of the forecast.
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Some of the companies for Dunnage Packaging Market are:
- Schoeller Allibert
- JIDA Industrial Solutions
- Package Design & Mfg
- Dunnage Engineering
- Interior Packaging Design, LLC
- Ckd pack
- Amatech Inc.
- UFP Technologies, Inc.
- Corplex (DS Smith)
- Artisanz Fabrication and Machine, LLC
- KEENER Corporation
- Salco Engineering and Manufacturing Co., Inc.
- Packaging Corporation of America
- GWP Group
- MJ Solpac Ltd.
- Reusable Transport Packaging
- NEFAB GROUP
- ORBIS Corporation (Menasha Corporation)
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