According to the latest report of global market insight, the market size of corrugated equipment is estimated to be US $227.7 million in 2020, and is expected to exceed US $282.3 million by 2027, with a compound annual growth rate of 3.3% from 2021 to 2027.
The COVID-19 crisis has seriously affected the scale of the development of the industry, and the interruption of raw material supply has hindered some production activities in the industry. Due to a sudden drop in demand and an increase in inventory, product prices will decline to a certain extent in 2020. In addition, logistics and supply chain difficulties also affect the market demand for corrugating equipment.
Non HD flexo printing equipment has a total revenue share of over 33.2% in 2020, which is due to its wide application in electrical and electronic industries, as well as home and personal care textiles. Compared with high-definition flexo printing equipment, the machine is cheap and can print up to four colors. The product can print a large number of cardboard and has many advantages, such as low power consumption, fast running speed and no noise.
The growing demand for effective packaging solutions in the global retail sector will drive the growth of the corrugated equipment market.
By 2027, the circular die-cutting machine will continue to grow at a compound annual growth rate of 3.5%, and it is also the machine with the highest growth rate among many equipment. These machines are popular because of their high quality, energy saving and safety features. The high speed of these machines makes them suitable for mass processing industries such as food and beverage, as well as home and personal care. The increasing demand for high-efficiency and high-speed slotting die-cutting equipment will promote the growth of circular die-cutting equipment in paperboard packaging industry.
The food and beverage industry will dominate the entire market and is expected to grow at a compound annual growth rate of 3.7% by 2027. Food and beverage industry is the main consumer of paperboard packaging. The growth of processed food consumption will promote the demand for packaging equipment. Moreover, the increased use of recyclable materials for food processing will further lead to high demand for corrugating equipment.
The offset mounting equipment market from roll to sheet will grow steadily, accounting for 26.7 million US dollars of revenue share by 2027. The high demand for decorative packaging products makes the demand for offset mounting equipment continue to grow. In addition, the growing demand for efficient machinery for paperboard packaging is driving the global offset mounting equipment market from roll to sheet. Strong demand from end use industries such as catering and cosmetics creates huge opportunities for market participants in corrugated equipment.
By 2027, equipment revenue for the home and personal care industry will reach $25.1 million. The growth of population in Asian countries, as well as the improvement of social and economic conditions, will promote the development of the global family and personal care industry. Over the past decade, the region has seen phenomenal growth, spurring consumerism as well as demand for and trade in household goods. In addition, the global awareness of health and hygiene will promote the development of the packaging industry.
Latin America is expected to grow at a compound annual rate of 3.5%. The food and beverage industry in Latin America is showing high growth due to increased export opportunities and a favorable regulatory framework. During the study period, it is expected that the growing demand for super processed food and beverage in the region will promote the market demand for corrugated equipment. In addition, countries including Mexico and Brazil are also investing in industrialization and key industries such as pharmaceuticals, electricity and electronics. By 2027, growing population and economic growth will drive demand for products.
By 2027, the Asia Pacific region will account for 46.9% of the global market. The growth of population, the improvement of income level and the change of consumption pattern of working population provide rich opportunities for ready to eat food. In addition, the growing demand for electronics and textiles in the region is expected to drive the market share of corrugated equipment in the region.
Post time: Apr-01-2021