Industrial packaging Market Size, Business Revenue, Future Scope, Market Trends, Key Players And Forecast To 2023
Key Players
The key companies functioning in the Industrial packaging Market Size, are Mondi plc (Austria), Amcor Limited (Australia), WestRock Company (U.S.), Greif, Inc. (U.S.), International Paper Company (U.S.), Mauser Group (Germany), Sigma Plastics Group (U.S.), Orora Limited (Australia), Bemis Company, Inc. (U.S.), Wuxi Sifang NEFAB GROUP (Sweden), AmeriGlobe LLC (U.S.), Drums Limited Company (China), Schoeller Allibert (The Netherlands), Sonoco Products Company (U.S.), and Sealed Air Corporation (U.S.).
Industry Updates
Feb 2019 Greif Inc., a well known industrial packaging products and services company, declared its first quarter 2019 results. As per the company, their net sales decreased by $8.7 million to $897 million and their total profit grew by $1.1 million to $172.8 million. The company’s latest acquisition of Caraustar Industries has extended the packaging company’s portfolio in the recycled paperboard sector.
Detailed Regional Analysis
The Industrial packaging Market Size, consists of regions such as Europe, North America, Asia Pacific and Rest of the World. Among these regions, the Asia Pacific region is expected to be the principal region in the market and can observe outstanding growth over the forecast period. The expansion in the Asia Pacific region is mainly motivated by the growing industrialization and urbanization, increasing consumer spending, and varying lifestyles. The North American region is likely to be the next principal contributor in the market due to the rise in the export and import activities. Moreover, the North American Free Trade Agreement (NAFTA) is anticipated to enhance market growth additionally. The European region controlled the third prime market share in 2016 owing to the strong demand from the pharmaceutical and food & beverages and industry for industrial packaging.
Competitive Analysis
The chances for growth in the market are demonstrating ample area for progress in the forecast period. The competitive viewpoint for the market is expected to expand considerably in the approaching period. The advances in the market are expected to be encouraged by the escalation in investments and product developments. The market contestants find themselves in a favorable place with the ability to deal with the speed of change. The competitors are avidly tackling the challenges to development and are making strategies that can lead to an advantageous overall effect on the market's growth. The market pros are making efforts to establish strong value chains that can bring in amplified profits. The perceived tendency for the market’s advance has enhanced following the improved approachability to encouraging aspects of the market.
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