Packaging Cores Market: An Overview
Packaging Cores are nothing but a packaging material which are generally wrapped around the product. Cores are known for its strength and therefore they are highly preferred as a protective packaging during transportation of goods. Packaging Cores are lightweight and available in convenient sizes with inbuilt resistance to shock, damage and fracture of the product. Therefore, the Packaging Cores market is expected to grow substantially during the forecast period.
As people nowadays are more concerned about the mother nature and prefer material which are sustainable, this factor is also expected to enhance and boost the Packaging Cores market to an appreciable extent. Packaging Cores are available in three types such as Paper, Plastic and Metal out of which the demand of paper cores is increased and demand of plastic cores is decreased over the last few years.
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Packaging Cores Market: Dynamics
The factors which drive the Packaging Cores market are increase in textile, building & construction industries, increase in demand of protective packaging as cores provides offers strength
The factors which restrain the Packaging Cores market are its non-resistive nature to moisture, increase in demand of flexible packaging as it is replacing rigid packaging due to its various features.
Packaging Cores Market: Segmentation
The packaging Cores market is segmented on the basis of type of material, type of product and end use industry.
The packaging Cores market is segmented on the basis of type of material as
- Paper
- Plastic
- Metal
The packaging Cores market is segmented on the basis of type of product as
- Notched cores
- Slotted cores
- Medical cores
The packaging Cores market is segmented on the basis of end use industry as
- Textile
- Building and Construction
- Consumer goods
- Personal care
- Food and Beverages
- Pharmaceutical
- Healthcare
Packaging Cores Market: Regional Outlook
On a global scale, North America is expected to be the dominating geographical region in Packaging Cores market during the forecast period due to increase in retail and e-commerce business. Europe is also expected to have a stagnant growth due to increase in concerns over sustainability among the people over the last few years.
Asia-Pacific region especially China, Japan and India is expected to have highest growth rate in Packaging Cores market due to increase in consumption of cores and increase in food & beverages demand in this specific geographical region. Middle East & Africa, Latin America and Oceania are expected to have steady growth rate in Packaging Cores market due to increase in opportunities in market as many manufacturers are heading to increase its market space across the globe.
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Packaging Cores Market: Key Players
Some of the key players in Packaging Cores market are American Paper and Packaging Corp, Crescent Paper Tube Company Inc, GHS Paper Tube and Core Mfg., Hansen Packaging, Valk Industries Inc., Sonoco Products Company, LCH Paper Tube and Core Co, Albert Eger GmbH & Co. KG, OX Paper Tube & Core, Inc., Marshall Paper Tube Company Inc, Jonesville Paper Tube Corporation, Ohio Paper Tube Company, Pacific Paper Tube Inc, Corenso Paper Core Foshan Co Ltd., OX Paperboard LLC, Caraustar Industries Inc, SigmaQ, Callenor Co Inc, Valk Industries Inc, D & W Paper Tube Inc, International Paper Converters Ltd, and Konfida.
Packaging Cores Market: Impact of COVID-19
Due to the outbreak of COVID-19 all over the world, all the markets including Packaging Cores market are expected to slow down to its minima but anticipated to grow step by step as soon as the outbreak nullifies. Therefore, the forecast of Packaging Cores market may vary according to the extent of damage done by the COVID-19 to the developed as well as developing countries across the world.
During the outbreak, as all the manufacturing units in most of the countries are shut down by their respective governments, the future demand of Packaging Cores in terms of value and volume is also expected to change which in turn affect the overall market.
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