The latest research study “Automotive Parts Packaging Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027” by IMARC Group, finds that the global automotive parts packaging market size reached US$ 5.99 Billion in 2021. Looking forward, IMARC Group expects the market is anticipated to reach a value of US$ 7.74 Billion by 2027, expanding at a CAGR of 4.27% during 2022-2027.
Automotive parts packaging assists in shielding valuable automobile parts from scuffs, dings, vibrations, dents, and damages during storage and shipping. It possesses barrier materials, such as harnesses, tubing, part protectors, and corrugated boxing solutions. In recent years, automotive parts packaging is gaining traction on account of the exponential growth in the adoption of automobiles for traveling and various other purposes.
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Automotive Parts Packaging Market Trends and Drivers:
One of the primary factors driving the market is the rapidly growing population and urbanization. Additionally, the increasing production and packaging of heavy components, such as cooling systems and engine components, is creating a positive market outlook. Other than this, consumers are opting for bio-based packaging substances on account of the increasing environmental concerns, thereby positively influencing the market growth. Besides this, the growing involvement of electronic and electrical devices in the automobile sector is propelling the market growth.
In line with this, returnable packaging assists in reducing packaging waste and minimizing the carbon footprint. Apart from these factors, governments of various nations are promoting the adoption of electric vehicles (EVs) as they release lesser greenhouse gases (GHGs) and air pollutants, which is creating lucrative growth opportunities for the key players operating in the industry. Moreover, extensive investments by key players in research and development (R&D) activities, along with the rising technological advancements in supply chain management, represent other major growth-inducing factors.
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Automotive Parts Packaging Market 2022-2027 Competitive Analysis and Segmentation:
Competitive Landscape:
The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.
Major Players Covered:
- DS Smith plc
- Knauf Industries
- Mondi plc
- Nefab AB
- Primex Plastics Corporation (ICC Industries Inc.)
- Schoeller Allibert Services B.V.
- Sealed Air Corporation
- Signode India Ltd.
- Smurfit Kappa Group plc
- Sonoco Products Company
- Sunbelt Paper & Packaging Inc.
- WestRock Company.
Key Market Segmentation:
The report has segmented the market on the basis of region, component type, product type and packaging type.
Breakup by Component Type:
- Battery
- Cooling System
- Underbody Components
- Automotive Filter
- Engine Components
- Lighting Components
- Electrical Components
Breakup by Product Type:
- Pallets
- Crates
- Bulk Containers and Cases
- Bags and Pouches
- Folding Cartons
- Corrugated Products
- Trays
- Protective Packaging
Breakup by Packaging Type:
- Disposable
- Reusable
Breakup by Region:
- North America
- Asia Pacific
- Europe
- Latin America
- Middle East and Africa
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Key highlights of the report:
• Market Performance (2016-2021)
• Market Outlook (2022-2027)
• Porter’s Five Forces Analysis
• Market Drivers and Success Factors
• SWOT Analysis
• Value Chain
• Comprehensive Mapping of the Competitive Landscape
If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
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IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
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