3 Developments driving the Global Industrial Packaging Market- Revenues to exceed USD 80 Bn by 2027 says a report by Ken Research
Global Industrial Packaging Market Ecosystem
Global industrial packaging Market is at a growing stage. It is a highly fragmented market with the presence of many packaging companies. The industrial packaging market has seen emergence of abundant players in the past 5 years and the industry will further boost owing to the needs and wants of consumers for a more personalized learning platform. Few major global industrial packaging players are WERIT Kunststoffwerke W. Schneider GmbH & Co, Mondi Plc, Greif Inc, Mauser Packaging Solutions, WestRock Company etc.
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1. Better packaging solutions by using AI technology is the latest trend in industrial packaging market.
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Technological advancement is a key trend gaining popularity in the industrial packaging market. Artificial intelligence is helping firms employ computers and algorithms to produce better packaging solutions. AI is used in inspection, data labeling, recycling products, and various other applications. In April 2022, DHL Supply Chain announced a new on-demand packaging option to its business clients to make shipments more cost-effective and ecologically responsible. The AI-powered Opti Carton technology will aid in the optimization of box filling from a pre-configured set of cartons and even recommend breaking orders into many consignments to make individual shipments more cost-effective or lessen their carbon impact.
2. Increased demand for industrial packaging from chemical and construction industry
The increased production in many industries and trade of products, such as chemicals and petroleum products, have boosted the demand for bulk packaging and crates/totes. Industrial packaging companies cater to various end-use industries, such as building & construction and chemical. The growing trade among countries and the safe transportation of products lead to an increased demand for effective industrial packaging from these industries. The rise in demand from the chemicals and petroleum industries is a major growth driver of the industrial packaging market.
3. Corrugated boxes widely preferred for Industrial Packaging
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Based on product type, the corrugated boxes segment is projected to be the largest market for industrial packaging. The dominant market position of the segment can be attributed to the increase in the demand for these product type across various applications in food & beverage, pharmaceutical and automotive industries. The increase in the demand for corrugated boxes can be attributed to the rise in the demand for lightweight and convenient packaging solutions.
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