Corrugated Box Making Machine Market: Introduction
- Corrugated box making machine is an equipment used to make corrugated boxes, used for packaging consumer and industrial goods. Corrugated packaging is best suited for shipping and transporting products that are fragile in nature across developed and developing economies. These boxes are very durable and have high safety standards compared to other modes of packaging such as cardboard packaging. Corrugated boxes protect goods and are lightweight compared to wooden packaging.
- The COVID-19 outbreak has led to the decline of industries, as governments of developed and developing economies have imposed lockdown, due to which the working of industries such as food & beverages, packaging, and retail among others have stopped. This, in turn, has impacted production and manufacturing, and adversely affected the global economy. Thus, demand for corrugated box making machines has also been impacted.
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Global Corrugated Box Making Machine Market: Dynamics
Global Corrugated Box Making Machine Market: Key Drivers
- Paper and paper products are versatile industrial raw materials with a wide variety of applications. Wooden packing cases are more and more replaced with corrugated board- boxes and cartons due to shortage of softwood. This, in turn, is expected to accelerate the growth of the corrugated box making machine market.
- The food and beverage industry includes all the manufacturers involved in processing raw food materials, and packaging and distributing them. The growing demand for processed food and ready-to-eat products has surged the packaging requirement, which is driving the demand for corrugated boxes and subsequently, corrugated box making machines.
- Increase in demand for corrugated boxes for packaging products ordered through online platforms is expected to fuel the growth of the corrugated box making machine market. Thus, increasing popularity of smart packaging in the e-commerce industry is also likely to drive market growth. In addition, manufacturers are developing corrugated box making machines that can support the manufacturing of smart packaging due to growing popularity and demand from the online retail industry, which in turn is set to boost the corrugated box making machine market.
Asia Pacific to Account for Major Share of the Global Corrugated Box Making Machine Market
- In terms of region, the global corrugated box making machine market can be divided into North America, Europe, Asia Pacific, Middle East & Africa, and South America.
- The corrugated box making machine market in Asia Pacific is expected to hold leading share due to growing adoption of corrugated box making machines in various industrial applications. Rise in disposable income and growing penetration of the Internet has fueled the growth of the retail industry, which in turn is expected to enhance the demand for corrugated box making machines.
- North America is anticipated to hold a significant share of the global corrugated box making machine market due to growth of e-commerce industry, which is one of the major factors driving market growth.
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Global Corrugated Box Making Machine Market: Competitive Landscape
Key Players Operating in the Global Corrugated Box Making Machine Market
Companies operating in the corrugated box making machine market are increasingly investing in research and development to develop new and innovative techniques to manufacture corrugated box making machines. Manufacturers are also focusing on offering highly-efficient and reliable corrugated box making machines with advanced technology such as IoT (Internet of Things) and artificial intelligence (AI). The corrugated box making machine market is highly fragmented with the presence of numerous manufacturers, primarily in developing regions. Furthermore, manufacturers are striving to gain a competitive edge by increased product differentiation. Key players operating in the global corrugated box making machine market are:
- Saro Packaging Machine Industrie
- ACME Machinery Co. Pvt. Ltd.
- Bobst Group SA
- EMBA Machinery AB
- Fosber Spa
- ISOWA Corporation
- KOLBUS. GmbH & Co. KG
- Mitsubishi Heavy Industries Ltd.
- Packsize International
- Serpa Packaging Solutions
- Shanghai PrintYoung International Industry
- Shengli carton Equipment Manufacturing
- Shinko Machine Mfg. Co. Ltd.
- Wenzhou Zhongke Packaging Machinery Co. Ltd.
- Zemat Technology Group Ltd.
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