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Use of styrofoam and other environmentally damaging products is expected to slow down market growth. However growing development activities with regards to environmentally friendly materials is expected to mitigate this greatly and offer new opportunities during the assessment period.
Segmentation
Segmentation of the global Protective Packaging Products Market has been determined on the basis of material, application, product type, function, and region. Materials used in Protective Packaging Products have been segmented into paper & paperboard, plastic, and others. Plastic is the most widely used Protective Packaging Products material and is used across a number of end-use industries. Plastic offers an efficient barrier which is cost efficient, temperature resistant, and durable.
Product type has been segmented into rigid protective, flexible protective, and foam protective.
Function of Protective Packaging Products has segmented the market into insulation, wrapping, flexible cushioning, void-fill, and others.
Applications of Protective Packaging Products can be found in industrial goods, consumer goods, food & beverages, and others.
Regional Analysis
The Asia Pacific accounts for the dominant share of the global COVID-19 Impact. The region is expected to witness high growth over the forecast period with countries like India, and China leading growth. Regional manufacturers are investing in the development of low-cost Protective Packaging Products. The growth of e-commerce and electronic industry has resulted in high demand for paperboard and paper packaging. The presence of a large urban population which has a rising disposable income is expected to drive the demand for Protective Packaging Products in the APAC region.
Key Players
Prominent participants in the Protective Packaging Products market include Packaging Corporation of America (U.S.), Protective Packaging Products Solutions (U.S.), Springpack (U.K), Ecovative Design LLC (U.S.), Macfarlane Group (U.K), Smurfit Kappa Group (U.K), BASF SE Germany, Cellofoam North America Incorporated (U.S.), Pregis Corporation (U.S.), Universal Protective Packaging Products (U.S.), Max Packaging (India), FP International (U.S.).
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