The Global Dunnage Packaging Market is projected to reach a value of over USD 4.5billion by 2027 at a CAGR of around 5.4%.
Dunnage packaging refers to the protective packaging solution used in transportation and logistics operation to cater damage control to the goods. During transit, the packed product may go through tough environmental conditions while in sorting facilities, ship, trucks, and other vehicles. Dunnage packaging is useful as it prevents items from moving and help to absorb the shock. Some of the major benefits offered by dunnage packing are damage protection, moisture protection, and shock absorption. Solid plastic, bubble wrap, wood, air pillow, foam, kraft paper, corrugated paper, and others are some of the common dunnage materials used for shipping packaging.
Market Driver:
According to the European Automotive Manufacturing Association (ACEA), 92.8 million motor vehicles were produced globally in 2019. Manufacturers in automotive industry transport finished and semi-finished automotive components which include the delivery of body parts from various vendors or components fromsuppliers to the assembly parts. Thus, short distance and frequent transportation of heavy and high-volume products haveencouraged automotive companies to adopt durable packaging solutions, as damage to the good is one of the major concerns. Dunnage packaging offers various benefits such as moisture protection, damage protection, and shock absorption owing to which major automotive manufacturers are adopting dunnage packaging solution. Thus, higher demand from the automotive industry to prevent damages to goods during transportation has expected to drive the market growth.
Market Challenges:
Volatility in the prices of these materials is a major factor likely to hamper the market growth during the forecasted period. The fluctuating price of petroleum product due to supply and demand gap, natural disasters, production cost along with storage capacity.This has lead to uncertainty in the availability of raw materials at a lower or economical price. For instance, the COVID-19 pandemic which broke in January 2020 has largely affected the petroleum prices which in turn have affected the raw material price. Thus, fluctuations in raw material prices have posed a major challenge to the growth of the market.
The report on the dunnage packagingmarket covers a deep dive analysis of historic, recent and current market trends. Furthermore, market share/ranking analysis of key players, market dynamics, competition landscape, country-wise analysis for each region covered and the entire supply chain dynamics are covered through the below segmentation.
Report Features |
Specifics |
---|---|
Historical/Estimated/Forecasted Market Size Years |
2019-2027 |
Base Year for Market Calculation |
2020 |
Forecasted Period |
2021-2027 (2021 estimated year, forecasted up to 2027) |
Measured Units |
Value (USD Million) |
Segments Included |
Material Type, End User, and Region |
Regional Coverage |
North America, Asia-Pacific, Europe, Middle East & Africa, South America |
For the scope of the report, In-depth segmentation is offered by Forencis Research
Dunnage Packaging Market, by Material Type
Dunnage Packaging Market, by End User
Dunnage Packaging Market, by Region
60+ MARKET TABLES AND 30+ FIGURES WILL BE INCLUDED IN THE DUNNAGE PACKAGING MARKET STUDY
Note1: Tentative table of contents, may get updated during the course of research.
Note2: Company financial information is subject to availability in public domain
60+ MARKET TABLES AND 30+ FIGURES WILL BE INCLUDED IN THE STUDY