Transparency Market Research delivers key insights for the plastics corrugated packaging market in its published report, which include global industry analysis, size, share, growth, trends, and forecast for 2020-2028. In terms of growth, the global plastics corrugated packaging market is projected to witness exponential growth by the end of 2028, owing to the increasing scope of plastics corrugated packaging in end-use industries such as food & beverages, automobile, healthcare, agriculture, electricals & electronics, and others. About this, TMR offers detailed insights and forecasts in the plastics corrugated packaging market report.
Plastics corrugated packaging products have different visual appeal compared to conventional flexible packaging. Plastics corrugated packaging can resist humidity and other solvents, and maintains integrity. The plastics corrugated packaging market is expected to grow followed by the push of end-use industries, such as food & beverages and automotive, which are registering significant growth in several regions, owing to increased consumption. Decorating surface of carrying units with plastics corrugated packaging is likely to augment the market growth during the forecast period.
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Plastics Corrugated Packaging with RFID System Likely to Provide Growth Opportunities
Plastics corrugated packaging boxes are now being offered with RFID or radio frequency identification system for tracking the product. These closed-loop plastic corrugated boxes are manufactured and introduced by Technology Container Corp. of Desoto, Texas.
TCC Techno-Box is a corrugated box made of polypropylene with the feature of self-locking bottoms and tops. These boxes are available with RFID tracking system to and can be used repeatedly for hundreds of cycles in a system. These boxes are extensively used for distribution purpose where users can track down the cycling number of the product. Furthermore, the system can provide the information of product’s location and other information. Additionally, these plastic corrugated boxes reduce the transport weight and lessen the storage issue.
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Price Transmission in Crude Oil Industry to Drive Market Growth
While oil price fall has left the crude oil industry staggering, the plastics industry is relaxing. The plastic industry is strongly influenced by crude oil prices, as the plastic is mainly derived from petroleum products. This is the reason when crude oil crashed, the cost of plastic production dropped significantly and triggered a blast in production and demand.
Primary plastic product producers have hiked their product-cost by Rs. 1,000 in tune with the fluctuation in crude oil prices. Price of materials such as HDPE (High-Density Polyethylene), LDPE (Low Density Polyethylene), LLDPE (Linear Low Density Polyethylene), and PVC (Polyvinyl Chloride) have also led to crude oil price fall.
According to the analysts, cheap oil promotes production of new plastic products and it is now more cost effective than recycling the plastic.
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Transparency Market Research registered at Wilmington, Delaware, United States, is a global market research firm that offers market analysis reports and business consulting. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insights for thousands of decision makers. Our experienced team of Analysts, Researchers, and Consultants use proprietary data sources and various tools & techniques to gather and analyze information.
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