Rockville, MD , Sept. 19, 2024 (GLOBE NEWSWIRE) — According to Fact.MR, a market research and competitive intelligence provider, the global Solid Board Market is estimated to reach a valuation of US$ 10.0 billion in 2024 and is expected to grow at a CAGR of 2.8% during the forecast period of (2024 to 2034).

Solid board has been used since its inception as the best packing material for production. Solid board packaging is used in many industries, such as electronics, construction, and food & beverage. Utilizing solid boards gives products and packaging a major competitive edge over alternative kinds. Products that need to be kept safe, such food, medical supplies, electronics, and other delicate objects, are usually packaged using solid board.

It is anticipated that the market for solid board would grow in response to consumers’ growing need for flexible and lightweight packaging. The rise in promotional packaging, which includes boxes, layer pads, and pop displays, suggests that solid boards will continue to rise in the years to come.

Demand for the solid board industry is driven by growing e-commerce and disposable money. Additionally, the solid board industry may benefit from the movement toward eco-friendly products and a distaste for things made of plastic.

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Key Takeaways from Market Study:

• The global Solid board market is projected to grow at 2.8% CAGR and reach US$ 13.1 billion by 2034
• The market created an opportunity of US$ 3.2 billion between 2024 to 2024
• East Asia is a prominent region that is estimated to hold a market share of 33.1% in 2024
• The sale for Food and beverages under end use industry is estimated at a CAGR of 2.7% creating an absolute $ opportunity of US$ 1.0 billion between 2024 and 2034
• North America and East Asia are expected to create an absolute $ opportunity of US$ 2.0 billion collectively

“The demand for solid board is also expected to rise as more eco-friendly packaging solutions are used and the online shopping sector grows. The solid board market is likely to become one of the most popular options among producers refocusing their efforts on greener products”, says a Fact.MR analyst.

Leading Players Driving Innovation in the Solid Board Market:

Key players in the solid board market are International Paper Company, Mayr-Melnhof Karton AG, Smurfit Kappa Group Plc, Mondi Group, DS Smith Packaging Limited, Georgia Pacific LLC, WestRock Company, Rengo Co.Ltd, Stora Enso, Billerudkorsnas AB, Other Prominent Players.

Market Development

Recent innovations include, In April 2024, International Paper and DS Smith Plc announced that they had achieved an agreement on the parameters of a recommended all-share merger, resulting in a genuinely global leader in sustainable packaging solutions.

• In Oct 2022, The Mayr-Melnhof group has successfully acquired the Essentra Packaging Company and all entities connected to it. This perfectly complements the current position of MM Packaging in pharmaceutical packaging in the Nordics and France.
• In March 2022, The acquisition of Verso by BillerudKorsnäs was completed for about US$ 825 million in cash. It is among the largest manufacturers of North America in the coated paper segment.

Solid Board Industry News:

A significant portion of many businesses’ revenue is allocated to research and development (R&D) in the hopes of developing novel solutions or finding new clients who would support their continued existence. In order to counter others, businesses are creating specialized solutions to challenges that meet industry demands.

• International Paper and DS Smith Plc declared in April 2024 that they had reached a consensus over the terms of an all-share merger that would create a truly worldwide leader in environmentally friendly packaging.
• International Paper purchased two of Spain’s top corrugated box manufacturers in March 2021. These are the kinds of solutions that will enable the house to grow beyond the nation’s industrial centers, specifically Madrid and Catalonia.

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More Valuable Insights on Offer:

Fact.MR, in its new offering, presents an unbiased analysis of the global solid board market, presenting historical data for 2019 to 2023 and forecast statistics for 2024 to 2034.

The study reveals essential insights on the basis of Material Type (Recycled Paper, Virgin Paper), Weight (Up to 200 GSM, 201 to 300 GSM, 301 to 500 GSM, Above 500 GSM), Application (Boxes, POP Display, Edge Protectors, Trays, Layer Pads), End Use Industry (Electrical and Electronics, Health care and Pharmaceuticals, Cosmetics and Personal care, Food and Beverages, Other Industrial Packaging, Building and Construction, Tobacco Packaging) across major regions of the world (North America, Latin America, Western Europe, Eastern Europe, East Asia, South Asia, and Pacific, Middle East & Africa).

Segmentation of Solid Board Industry Research:

By Material Type :

• Recycled Paper
• Virgin Paper

By Weight :

• Up to 200 GSM
• 201 to 300 GSM
• 301 to 500 GSM
• Above 500 GSM

By Application :

• Boxes
• POP Display
• Edge Protectors
• Trays
• Layer Pads

By End Use Industry :

• Electrical and Electronics
• Health care and Pharmaceuticals
• Cosmetics and Personal care
• Food and Beverages
  • Confectionery
  • Fresh Produce
  • Milk and Dairy
  • Frozen Food
  • Meat and Poultry
• Building and Construction
• Tobacco Packaging
• Other Industrial Packaging

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