The flat boards market has multi types and various applications. Its wide usage has led to the global demand for flat boards. The applications range from industries such as packaging for food and beverage, personal care and home care, furnishing and electrical. Advancement in machinery for cutting and shaping the board as per customer requirement is likely to boost the flat boards market. Plastic and wooden flat boards are primarily used for the building & construction industry and home furnishing. Whereas, paper flat boards are predominantly used for the packaging industry. Multiple applications are likely to augment the growth of flat boards market.
Flat boards made from kraft paper have high recyclability. Flat boards made from different substrates have different attributes such as water resistance, ease in handling, easy assembling and optimum storage space. Flat boards can be customized as per the customers requirement. Brand owners can use the surface on flat boards for marketing campaigns. Flat boards are used widely in the building and construction industry for walls, ceilings and floors. The availability and cost of the flat boards make flat boards an ideal solution for furnishing or renovation of residential and commercial spaces. Plastic flat boards are extensively used for digital and screen printing, laminating and signages. Plastic flat boards have features such strength, durability and chemical resistance. They are easy to cut and shape which make them attractive for commercial purposes. Paper flat board is majorly used for packaging applications such as product packaging, corrugated boxes and containers. With the shift in shopping patterns, E-commerce is likely to be a growing sector. Therefore, the market demand for flat boards is expected to have a propelling growth in the years to come.
Flat Board Market can be segmented on the basis of material, application and end-use industry.
By Material, Flat Boards Market is segmented as
By Application, Flat Boards Market is segmented as
By End-Use Industry, Flat Boards Market is segmented as
Regionally, Asia Pacific is likely to contribute majorly int the global flat boards market. Emerging economies such as India & China have high consumption due to the large population. Increasing market demand for food & beverage industry, FMCG industry, health care and developments in the building and construction due to economic development is likely to fuel the market demand for flat boards. Rising urbanization, increasing workforce and disposable income has led to increased expenditure on a better standard of living. This is likely to augment the demand for flat boards market. North America is likely to have steady growth due to its matured markets. The European region is likely to have an increased demand for recycled raw material flat boards owing to the population’s concerns regarding the environment.
The COVID 19 has changed the customer sentiments towards dense spaces which are likely to raise demand for reconstruction of the commercial spaces in the years to come which is likely to affect the demand for flat boards positively. However, the growth for the flat board is likely to be limited for the year 2020. Amidst the outbreak, shoppers are forced to stay indoors and order their essentials from online service providers which is likely to boost the demand for E-commerce as it may change the buying habits of the customers permanently. This might hike the market demand for the paper flat board as they are heavily used for packaging.
Key players in the flat boards market are as follows,