Industrial Packaging Market to Grow at 5% CAGR to 2022
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The Industrial Packaging Market is expected to grow at a CAGR of around 5% during the period 2016 to 2022, according to a new report being distributed by Market Research Future, Pune, India.
Industrial Packaging is used to deliver goods from producer to consumer. The key drivers for the growth of the industrial packaging market are increased globalization and international trade. Additionally innovation progression, which has reduced the cost of transportation along with liberalization of trade and the capital market, has increased export import activities, which ultimately stimulates growth of the industrial packaging market. On the basis of region, Asia-Pacific is the largest market by both value and volume.
The market is highly application based. Factors contributing to the growth of the Industrial Packaging Market are continuously growing end-use industries such as chemicals, food and beverages, and others, increasing export and import activities, and the use of container liners. The market is expected to have a higher growth rate compared with previous years. Asia-Pacific currently is the largest region for the Industrial Packaging Market.
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Key players in the Global Industrial Packaging Market report include International Paper Co., Grief Inc., Nefab Group, Mondi Group, Amcor Ltd, Bemis Co., Orora Group, Mauser Group, Sigma Plastics Group, and Wuxi Sifang Drums Co.
