The latest market report published by Acute Market Reports “Paperboard Market: Growth, Future Prospects, and Competitive Analysis, 2023 - 2030” the Paperboard market was valued at US$ 209.5 Bn in 2021 and expected to reach US$ 310.07 Bn by 2030 at a CAGR of 4.5% throughout the forecast period from 2023 to 2030. The market size in terms of volume was 98.18 Mn MT in 2021 and is projected to reach 114.77 Mn MT in 2030 expanding at a CAGR of 1.8%.

Market Insights

"Increasing usage for paperboard packaging will spur revenue growth during the forecast period"

Rising popularity of paperboard packaging and growing manufacturing industry especially in the developing economies are propelling the paperboard market growth. Increasing awareness among customers for sustainable packaging material coupled with recyclability of paper and paperboard are factors proliferating the demand of global paperboard packaging market. Manufacturers, retailers and end-use customers find paperboard attractive due the benefits offered. Paperboard provides a combination of benefits including easy to use, eco-friendly nature, low handling costs and recyclability among others have a positive impact on the growth of paperboard market. For instance, Duchy Originals redesigned its chocolate boxes, light weighting them to cut volumes by almost 50% and rebranded themselves as sustainable and elegant. However paperboards are not used for heavy material packaging as they are unable to handle the mechanical stress.

Additionally, properties of paperboard including reusability, and sustainability among others are expected to further boost the market growth. Rising environmental concerns globally, promotion of paper products by governments and ban on usage of single-use plastic products are further proliferating the demand of paperboard market. Furthermore, high resolution graphics and double sided print of paperboard aids in strengthening brand promotion of products. As paperboard are produced from tree pulp, which results in deforestation, stringent regulations by governments for deforestation and increasing awareness among customers for the same is expected to hinder the market growth in the years to come.

Industrial Developments

• In August 2019, Sappi Limited announced the acquisition of Rayonier’s Matane Pulp Mill. Through this acquisition Sappi’s pulp integration business will get enhanced in the North American and European packaging businesses.
• In April 2015, Nippon Paper Industries Co. Ltd., announced that it has entered into an agreement with TS Plastics. Through this acquisition Nippon has entered packaging market in Asia. TS Plastics is a flexible packaging company.

Key Market Movements

• In 2021, the global paperboard market was valued US$ 184.64 Bn and is expanding at a CAGR of 4.5%. In terms of volume the market sales were 93.15 Mn Metric Tonnes in the same year and is expanding at a CAGR of 1.8%.
• Based on application, the market is classified into graphic printing and packaging. Packaging segment dominated the market owing to increasing global trend of paperboard packaging.
• Graphic printing segment is expanding at the highest CAGR due to adoption of double sided branding by companies in order to increase their brand promotion.
• Asia Pacific region dominated the global paperboard market in terms of market revenue. This can be associated with rapidly increasing packaging industry in the region, and high industrialization among others in the emerging economies.

List of Companies Covered:

• Metsa Group
• Sappi Limited
• Caraustar and Cascades Inc.
• Oji Holdings Corporation
• Nippon Paper Industries Co. Ltd.
• International Paper Company
• ITC Limited
• Paper Works Industries
• Shandong Bohui Paper Group Co., Ltd
• Kappa Group plc.

Browse the full report at https://www.acutemarketreports.com/report/paperboard-market

The Global Paperboard Market is Segmented into:

*Complete segmentation list is on report page