Top Trends in Automotive Parts Packaging Market
The automotive industry involves a wide variety of complexity of packaging materials. The vehicle industry is one of the largest contributors in the market for utilizing packaging solutions. It is estimated that the automotive sector contributes to almost 40% of all industrial and transport packaging worldwide.
Failure to cater the right packaging solution across the value chain of automotive manufacturing could incur huge costs to the customers, as well as the manufacturers leading to overall cost additions. Hence, it is mandatory for the automotive industry to have a high quality packaging solution that can deliver high protection and thereby deliver higher value goods as well as parts.
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The global market for automotive parts packaging market is segmented on various parameters such as product type, packaging type, component, and geography. Based on product type, crates segment dominate the automotive market heavily and is expected to continue its dominance throughout the forecast period from 2019 - 2027. On the basis of component, electrical segment is expected to witness a significant growth rate in the coming years. Key players operating in the market are introducing attractive solutions and are acquiring the small companies which is helping them to gain customer traction.
Company Profiles
- CMTP Packaging Pty Ltd
- DS Smith Plc.
- Encase Ltd.
- JIT Packaging
- Nefab group
- Pacific Packaging Products Inc.
- Pratt Industries Inc.
- Sealed Air Corporation
- Smurfit Kappa Group
- Sonoco Products Company
Increasing demand for aftermarket automotive parts
The aftermarket or replacement market plays an important role in automotive parts packaging market. With the increasing awareness of preventive maintenance as well as scheduled servicing of vehicles, consumers today are focusing in maximizing the lifespan value of their existing vehicles.
Market Growth
The automakers globally are observing substantial demand for advanced safety related technologies in their vehicles. This has led the automobile manufacturers to continuously focus on innovating, designing and developing autonomous cars which have already attracted a fair percentage of customers in major automotive manufacturing countries.
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Product Type Insights
The global automotive parts packaging market by product type is segmented into Pallets, Crates, Cartons, Bags & Pouches, Trays, and Others.
Packaging Type Insights
The automotive parts packaging market by packaging type is further segmented into Reusable and Disposable. The automotive packaging process is complex and selecting an appropriate packaging solution to balance inventory and optimize cost is essential.