Dunnage Packaging Market is Expected to Grow with a CAGR of 4.8% from 2022 to 2028
As stated in our extensive report; providing insights on Material, End-User, and Region; the Global Dunnage Packaging Market accounted for USD 3.82 Billion in the year 2021.
Dunnage is a durable padding material that helps protect goods throughout shipping. Dunnage packing acts as protective packaging to prevent damage that might damage while the goods are in transport and during logistical activities. Most of the commodities are frequently transported from one location to another which increases the demand for dunnage packaging contributing to the growth of the industry. In addition, dunnage packaging also provides many advantages such as cost efficiency, flexibility, environmentally friendly, innovative design & developments, appropriate coating, and resistance to external warm & abrasive conditions. Therefore, dunnage packaging is highly considered by various industries like the food & beverages industry, construction industry, automobile industry, and electronics industry.
The increasing demand for dunnage packaging from end-use industries is anticipated to augment the growth of the Dunnage Packaging Market in the years to come. The dunnage packaging is used in various applications in the automotive industry in creating lightweight packaging for components while maintaining structural integrity, lowering the handling & transportation costs. Some of the products include decorative interior items, engines, and other small mechanical elements, and account for a significant share in the automotive transportation and logistics packaging solutions. In the case of the electronics industry, most the electronic components or devices need precise packaging characteristics that include pilferage-proof and impact resistance packaging solutions and some of the electrostatic-sensitive devices need electrostatic- dissipative materials. The use of this product offers conductive properties, high-quality thermoforming, quick turn-times, and competitive pricing to the electronics sector. Furthermore, the increase in e-commerce and retail across the globe is also expected to support the growth of the market in near future.
However, the small manufacturers and new entrants face difficulty while investing in highly advanced equipment along with varying environmental mandates across regions is expected to hamper the growth of the market in the years to come. Moreover, increasing research and development investments are further expected to augment the growth of the market within the forecast period. Additionally, the increase in demand from emerging economies is also expected to support the growth of the market.
Asia Pacific held the largest share in the Global Dunnage Packaging Market and is likely to continue the same trend during the forecast period. The U.S. dominated the North American region. This is attributable to the favorable free trade agreements and growing automotive industry in the region. Additionally, rapidly growing end-use industries and stringent government regulations regarding sustainability are also supporting the growth of the Dunnage Packaging Market in the region. Asia Pacific is estimated to grow at a considerable CAGR during the forecast period. This is attributable to the increase in demand for reusable packaging solutions from emerging economies like India, and China in the region. Furthermore, the rising usage of multi-use packaging and increasing consumer awareness regarding green and sustainable packaging materials are also anticipated to support the regional growth of the market.
Some of the prominent players operating in the Global Dunnage Packaging Market include DS Smith (UK), Menasha Corporation (US), Schoeller Allibert (Netherlands), Myers Industries (US), Nefab (Sweden), UFP Technologies (US), Reusable Transport Packaging (Florida), Amatech Inc. (US), MJSolpac Ltd. (UK), Rehrig Pacific Company (US).
Browse the full Report - Dunnage Packaging Market Size, Share & Trends Analysis Report by Material (Corrugated Plastic, Molded Plastic, Foam, Steel), by End-User (Automotive, Aerospace, Electronics, Food & Beverages), by Region (North America, Europe, Asia Pacific, Latin America, Middle East & Africa) - Global Industry Assessment (2016 - 2021) & Forecast (2022 - 2028)