Global Hexacomb Packaging Market – Industry Trends and Forecast to 2029

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 Hexacomb Packaging Market Analysis and Size

The hexacomb packaging market has witnessed stable progress over the last few years. A hexacomb packaging is a heavy paperboard that allows the storage and safe transportation of different types of products such as FMCG, electronics, furniture and other. Hexacomb packaging is mainly used for protective packaging. The hexacomb packaging boxes can be available in various sizes, shapes and can used for numerous applications. The rising ecommerce industry is expected to boost the demand for hexacomb packaging.

Data Bridge Market Research analyses that the hexacomb packaging market was valued at USD 4770.00 million in 2021 and is expected to reach USD 7602.66 million by 2029, registering a CAGR of 6.00% during the forecast period of 2022 to 2029. In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include in-depth expert analysis, geographically represented company-wise production and capacity, network layouts of distributors and partners, detailed and updated price trend analysis and deficit analysis of supply chain and demand.

Hexacomb Packaging Market Scope and Segmentation

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Market Definition

Hexacomb is the leading paper-based honeycomb packaging solution which offers as a fully customizable structural product to PCA's corrugated products. Hexacomb unique engineering makes it strong and durable, with rigidity and cushioning to provide superior protection. Hexacomb packaging is a paper-based material that provides a unique combination of excellent strength and light-weight.

Global Hexacomb Packaging Market Dynamics

Drivers

• High usage of hexacomb packaging in packaging industry

In transporting or shipping, hexacomb packaging is widely used because of it’s high durability, it protects products from damage. Hexacomb packaging is heavy paperboard packaging, which are majorly used for transportation. Hexacomb packaging works as protective packaging solutions for several products such as electronics, furniture, FMCG products and others.

• Increasing demand for eco-friendly solutions

The hexacomb packaging is the modern trend in packaging industry, it is the most sustainable packaging solution and has better options than other packaging solution, especially plastic packaging which can lead to much more unnecessary junk that pollutes the ocean and land. These packaging are biodegradable, won’t cause any harmful waste to the natural environment, and can be easily recycled. These advantages can help the products to make an eco-friendly brand image and attract more and more customers due to all these factors increasing the demand for hexacomb packaging which is expected to drive the market growth.

• Increase the demand in automotive sector

Protective packaging is an vital part of the automotive supply chain. Hexacomb packaging is an effective system for packaging bulky automotive products because it offers more security and safety while transporting the product from one place to another. Therefore, this factor is expected to drive the growth of the hexacomb packaging market during the forecast period.

Opportunities

• Stringent rules and regulations associated with the use of plastic bags

Due to strict rules and regulations of government for usage of plastic products, the demand for paper packaging is increased across various industries, including food, construction and many other industries. The growing demand of hexacomb packaging in the place of plastic in several sectors will create favorable opportunities for the growth of the market.

Moreover, growing urbanization and disposable income levels will drive market value growth. The market is also fuelled by the rapidly changing lifestyle of customers and the growth of the retail sector. Increasing awareness regarding the use of eco-friendly and biodegradable packaging products will create new and ample opportunities for the growth of the hexacomb packaging market.

Restraints/ Challenges

• Availability of alternatives

The presence of lightweight and smaller packages and numerous other substitutes will act as significant market restraints and will further challenge the hexacomb packaging market growth in the above mentioned forecast period.

• Environmental concern

During the process of packaging of paper products emit some gases such as hydrogen sulfide, carbon monoxide, chlorine, chlorine, and sulfur dioxide. Exposure to these gases in the long term could be harmful to the workers. Also, an upsurge in paper consumption in hexacomb packaging manufacturing threatens the natural habitats. So, the concern about environmental issues is the major market challenge which will obstruct the market's growth rate.

This hexacomb packaging market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the hexacomb packaging market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.

Impact and Current Market Scenario of Raw Material Shortage and Shipping Delays

Data Bridge Market Research offers a high-level analysis of the market and delivers information by keeping in account the impact and current market environment of raw material shortage and shipping delays. This translates into assessing strategic possibilities, creating effective action plans, and assisting businesses in making important decisions.

Apart from the standard report, we also offer in-depth analysis of the procurement level from forecasted shipping delays, distributor mapping by region, commodity analysis, production analysis, price mapping trends, sourcing, category performance analysis, supply chain risk management solutions, advanced benchmarking, and other services for procurement and strategic support.

COVID-19 Impact on Hexacomb Packaging Market

The outbreak of COVID-19 pandemic had severely affected and created various challenges for many industries. Demand for hexacomb packaging was affected due to a decline in industries such as textile, packaging, beverage and electronics in pandemic. Furthermore, slowdown of paper and pulp industry had also affected the production of hexacomb packaging because of delays from the raw materials’ suppliers. However, the market has recovered in the post-pandemic era, which is projected to hold the hopes for the hexacomb packaging Market.

Expected Impact of Economic Slowdown on the Pricing and Availability of Products

When economic activity slows, industries begin to suffer. The forecasted effects of the economic downturn on the pricing and accessibility of the products are taken into account in the market insight reports and intelligence services provided by DBMR. With this, our clients can typically keep one step ahead of their competitors, project their sales and revenue, and estimate their profit and loss expenditures.

Recent Development

• In June 2020, Smurfit Kappa launched a sustainable and innovative new pack that keeps the chilled and frozen foods fresh throughout the supply chain. It is prepared from a 100% paper-based combination of corrugated and hexacomb, the thermo box keeps the frozen food, at temperatures similar to expanded polystyrene (EPS) boxes.

Global Hexacomb Packaging Market Scope

The hexacomb packaging market is segmented on the basis of product type, application, function type and packaging type. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

Product Type

• Container
• Cartons
• Boxes
• Others

 Application

• Food and Beverages
• Automotive Goods
• Furniture
• Consumer Goods
• Industrial Goods
• Others

 Function Type

• Cushioning
• Blocking and Bracing
• Void- fill
• Insulation
• Wrapping

Packaging Type

• Exterior Packaging
• Interior Packaging
• Pallets
• Others

Hexacomb Packaging Market Regional Analysis/Insights

The hexacomb packaging market is analysed and market size insights and trends are provided by country, product type, application, function type and packaging type as referenced above.

The countries covered in the hexacomb packaging market report are U.S., Canada, Mexico, Brazil, Argentina, Rest of South America, Germany, France, Italy, U.K., Belgium, Spain, Russia, Turkey, Netherlands, Switzerland, Rest of Europe, Japan, China, India, South Korea, Australia and New Zealand, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, United Arab Emirate, Saudi Arabia, Egypt, Israel, South Africa, Rest of Middle East and Africa.

North America dominates the hexacomb packaging market in terms of revenue and market share. This is due to the presence of major market players in this region. Furthermore, increased initiatives by the government to decrease the packaging waste will likely boost the market's growth rate in this region.

Asia-Pacific is anticipated to be the fastest developing region during the forecast period of 2022-2029 due to the availability of raw materials, increased personal disposable income and rising environmental concerns in this region.

The country section of the report also provides individual market impacting factors and changes in market regulation that impact the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data. 

Competitive Landscape and Hexacomb Packaging Market Share Analysis

The hexacomb packaging market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to hexacomb packaging market.

Some of the major players operating in the hexacomb packaging market are:

• Amcor plc (Switzerland)
• Mondi (U.K.)
• Sonoco Products Company (U.S.)
• Sealed Air (U.S.)
• Huhtamaki OYJ (Finland)
• Sappi (South Africa)
• DS Smith (U.K.)
• Coveris (U.K.)
• Sabert (U.S.)
• Wihuri (Finland)
• International Paper (U.S.)
• KRPA Holding (U.S.)
• Nordic Paper (Sweden)
• McNairn Packaging (U.S.)
• PG Paper Company (U.K.)
• Stora Enso (Finland)
• Gulf Paper Manufacturing Company (U.A.E)
• Smurfit Kappa (Ireland)
• WestRock Company (U.S.)
• JK Paper (India)

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