Hexacomb packaging made stable progress over the last five years, and forecasted to grow at a high rate. A hexacomb packaging is a heavy paperboard which enables the safe transportation and storage of different type of products such as electronics, furniture, FMCG products etc. Hexacomb packaging is mainly used for protective packaging. The hexacomb packaging boxes can be of various sizes, shapes and can used for various application. Hexacomb packaging is easy to design and model according to the brand owners’ need. Nowadays, growing ecommerce industry is accelerating the demand of hexacomb packaging. The packaging product which is used in ecommerce industry are designed in a way to protect the products from external environment, shock, vibration, and from other damaging effects during shipping and handling. Hexacomb packaging products are one of the effective packaging solutions that provide all the features related to high durability during transportation & storage and provide moisture, corrosion and shielding protection for sensitive products and components.
Hexacomb Packaging Market - Market Segmentation:
The global hexacomb packaging market can be segmented on the basis of product type, function type, end use, and by region. On the basis of product type, hexacomb packaging market can be segmented into the container, cartons, boxes and others. On the basis of application type hexacomb packaging market can be segmented food & beverages, automotive goods, furniture, consumer goods, industrial goods and others. On the basis of function type hexacomb packaging can be segmented into cushioning, blocking & bracing, void-fill, insulation, and wrapping. On the basis of region, hexacomb packaging market can be segmented into North America, Latin America, Europe, Asia-Pacific and the Middle East & Africa.
Hexacomb Packaging Market - Market Dynamics:
The fulfillment of online sales will be the major driver of growth for hexacomb packaging market. There are other factors also which are supporting in healthy expansions of hexacomb packaging products such as protective mailers, air pillows, and bubble packaging. Among these air pillows will be the fastest growing hexacomb packaging products. Moreover, void-fill materials benefiting the hexacomb packaging market to gain advantages over other fill materials regarding cost-effectiveness and less material usage. Government regulation towards the use of plastic is expected to hamper the growth of hexacomb packaging market. Also, the high initial cost of hexacomb packaging material is considered as another restraining factor towards the growth of hexacomb packaging market.
Hexacomb Packaging Market - Regional Outlook:
Geographically, the global hexacomb market is segmented into North America, Latin America, Europe, Asia-Pacific (APAC) and the Middle East & Africa (MEA). The global hexacomb packaging market is expected to witness a stable CAGR over the forecast period of 2016-2024. Entering new markets like Asia, Russia, and South America would be larger opportunities for hexacomb packaging market. Moreover, North America is expected to witness a high growth of hexacomb packaging market due to the rising consumption of food and beverage products. The demand of the hexacomb packaging market is projected to witness an above average growth in Europe as well due to the higher adoption of hexacomb packaging for automotive and commercial use.
Hexacomb Packaging Market - Major Players:
Some of the major players identified across the globe in the hexacomb packaging market are DS Smith Plc, Sealed Air Corporation, Sonoco Products Company, Green Packaging Technology Co. Ltd., Shanghai Boyang Packaging Technology Co. Ltd., ACH Foam Technologies LLC, BASF SE, Bayer AG, NEFAB GROUP, Pregis North America, Smurfit Kappa Group Plc, RockTenn Company, Cascades, Huhtamaki OYJ, Packaging Corporation of America, Zhejiang Kaipei Packaging Co., Ltd. and Linyi Guosheng Color Printing & Packing Co. Ltd.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
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- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
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Below is a snapshot of these quadrants.
1. Customer Experience Map
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4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
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