Tuesday, 03 November 2020 08:00 AM
Product Announcements
Features like lightweight, robustness and reusability propels the use of micro flute papers across various end-users.
DUBAI, UAE / ACCESSWIRE / November 3, 2020 / The micro flute paper market is expected to reach US$ 3.8 billion by 2030. Limitations of micro flute paper like vulnerability towards harsh weather conditions is being worked on by the manufacturers currently.
"Manufacturers are currently focussing on reducing thickness and increasing strength to let the micro flute papers find employment in heavyweight packaging industries," says the FMI Analyst.
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Micro Flute Paper Market - Key Highlights
- E-flute paper captures more than 50% of the global market value.
- North America and East Asia cumulatively accounts for 2/5th global value.
- On the basis of end-use, micro flute paper finds extensive use in food and beverage industry.
- Based on weight, 175-250 GSM is expected to hold 3/5th of the global market value.
Micro Flute Paper Market - Driving Factors
- Micro flute papers are extensively used in food and beverage, pharmaceuticals, medical and personal care sectors.
- Due to better affordability and flourishing e-commerce sector in developing economies, demand will continue to prevail.
- Strict regulations to avoid plastics in packing is fuelling the demand for other sustainable alternatives like micro flute paper.
- Micro flute paper is suitable for various forms of packaging like boxes, trays, clamshells etc.
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Micro Flute Paper Market - Key Restraints
- These papers are highly inflammable which limits the utility in harsh weather conditions.
- High production cost of papers poses significant challenge to the market.
Expected Impact on Market by Coronavirus Outbreak
Due to rising uncertainty in the packaging industry and reduced availability of raw materials, production of micro flute paper has reduced. Markets in Europe and East Asia is likely to gain traction through the end of 2021. In the best case scenarios, this industry is anticipated to witness 9.2% growth or else 2.2% growth in the worst scenario globally. Europe and USA will envision flourishing e-commerce sector as well as improving healthcare packaging. This will help the segment gain proper attention towards the end of the year.
Competition Landscape
Key manufacturers are bringing in innovative techniques to enhance market growth. Major players of this market include DS Smith Plc, Smurfit Kappa Group Plc, Novolex Holdings, Inc, Acme Corrugated Box Co. Inc, Cascades Sonoco, Inc, Stora Enso Oyj, WestRock Company.
Customizing packaging solutions according to specific applications will still remain one of the key strategy.
DS Smith is offering N and F type moisture resistant papers to make it suitable for the packaging of frozen food products.
Smurfit Kappa collaborated with Nestle to optimise food packaging and supply chain. This helped in reducing cost as well as minimizing waste.
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More on the report
FMI's report on micro flute market provides proper analysis of market trends and macro-economic factors. It is segmented on the basis of product type (E, N, F flute), material (recycled, virgin), end-use (food, beverage, personal care, healthcare etc.) and a region-wise analysis (North America, Latin America, Europe, East Asia)
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SOURCE: Future Market Insights
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