Recycled Boards are predominantly utilized in the packaging of food and beverage products, home care products, personal care products and health care products. Coated recycled boards are light in weight and provide protection to the product. In addition, the coating on the recycled boards makes it water-Resistant , chemical resistant and grease resistant. This ensures the hygiene and safety of the package. The formats for packaging can be made as per the customer requirements such as thickness and size. The flexibility of the coated recycled boards makes it easy to use as and result in optimum production time. Coated recycled boards are gaining popularity due to environmental concerns. Eco-friendly packaging solutions are gaining popularity as customers prefer packages with green tags. This is beneficial for the brand owners as it allows them the opportunity to build their goodwill and enhance brand loyalty. This is likely to hike the market demand for coated recycled boards.
Coated recycled boards are an ideal choice for brand owners. Shipment in the containers or boxes made from coated recycled boards provides protection against the damage which results in low returns and claim and does not result in profit shrinkage for the brand owners. Coated recycles boards can be used for packaging of different products. This makes coated recycled boards more versatile and attractive. In addition, packages made from coated recycled boards have smooth printing surface which provides an opportunity for the brand owners to enhance the brand visibility. Moreover, coated recycled boards extend the shelf life of the product as it limits external exposure to the products. Increasing adoption of E-commerce for food & beverages, home care, healthcare and personal care products has led to high demand for boxes and containers. This is expected to fuel the market demand for coated recycles boards market.
Coated Recycled Boards Market is segmented on the basis of coating, end-use Industry and produc type.
By Coating, Coated Recycled Board can be segmented as
By End-Use Industry, Coated Recycled Board can be segmented as
By Product Type, Coated Recycled Board can be segmented as
Asia Pacific region is expected to have significant growth in global demand for coated recycled boards market. Attributing to factors such as urbanization, large population and change in lifestyle and increasing expenditure on improving the standard of living. Emerging industries in the Asia Pacific region such as food & beverage, electronics, personal care and pharmaceutical is anticipated to augment the growth of coated recycled boards market. North America is likely to have a sluggish growth rate in the global coated recycled boards market as the market is matured in this region. Strict regulatory norms on the ban of single-use plastics and customer awareness are likely to boost the coated recycled boards market in the European Union.
The COVID 19 outbreak has affected the global supply chain in terms of lower inventory levels of boards, limited supply of raw materials, interruptions in logistics, halt in the production line and reduced workforce. This is likely to increase the cost of production of manufacturing coated recycled boards. However, there are opportunities for the coated recycled boards market to grow. Due to the surge in online deliveries and increased adoption of E-commerce by customers is anticipated to boost the growth of corrugated boxes and containers. The change in consumer behaviour has led to an increase in the volume of deliveries globally which directly impacts the growth of coated recycled boards. In the long run, the effects of the outbreak are anticipated to change the buying patterns of consumers, which is likely to promote E-commerce. This is likely to propel the growth of coated recycled boards market.
Key players in the coated recycled boards market are as follows,
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