Solid Board Market

Solid Board Market Size (2023-2028):

Solid Board Market is valued at US$ 9.17 Billion in 2022 and is anticipated to increase to US$ 11.61 Billion by 2028, with a growing CAGR of 4.27% in the next six years.

Solid board is a form of packaging material used in medicines and the packaging of fresh foods. The solid board is a good alternative for long-term storage, as well as transportation and goods security, punctured resistance, & high stackability. When used properly, the solid board is highly stiff and unyielding, which means it may be used in applications that you didn't believe it could handle. This material is also commonly used as the backboard in replacement pads of paper or board-backed envelopes, as well as in meal packaging when the board will not be in direct contact with the product. Solid board packaging is more durable and resistant to moisture. A robust board with distinctive characteristics such as outstanding visuals and smooth opening possibilities is also available. These are also more lightweight than polymer-based solutions with similar withholding capacities. Manufacturers are also making use of the solid board's other features, such as trays and component covers. The lightweight nature of solid boards contributes to the items' logistical value by reducing bulk. These are also ideal for packing food and beverage items. Solid boards, on the other hand, are manufactured from recyclable materials, making them a biodegradable product that helps to protect the environment.

Solid Board Market Drivers:

Growing environmental concerns are driving a change toward a more sustainable method of operation for a variety of company activities. Solid boards are biodegradable, putting them ahead of the majority of polymer-based alternatives on the market. This is what fuels the growth of the solid board industry for packaging a variety of goods. Furthermore, the lightweight nature of solid boards provides significant logistical advantages, leading to companies choosing solid board packaging throughout their operations, fueling solid board market demand. Furthermore, solid board packaging has a number of advantages, including greater performance & moisture resistance. A robust board with distinctive characteristics such as outstanding visuals and smooth opening possibilities is also available. Furthermore, the great thickness of the solid board ensures that the packaging is extremely stiff, ensuring the best possible protection for the item. Solid boards may also be embossed, printed, varnished, and foiled to create visually appealing products which will rocket off the shelves. It's very simple to store. It also promotes brand image and reduces the carbon impact of commercial organizations. As a result, the above-mentioned benefits of solid boards are expected to propel the solid board market to new heights. The fast-paced expansion of the food processing sector as well as the growing preference for frozen food products will present considerable potential prospects for the solid board market. Furthermore, urbanization in emerging nations has increased the use of solid boards in the construction and manufacturing sectors, which is expected to drive interest for this market throughout the anticipated period.

Solid Board Market Restraints:

The restraining factors that are restricting the growth of the global solid board market are the existence of product alternatives and environmental effects. These are the primary factor that is expected to stifle the solid board market expansion. The other restraint cum challenge that the global solid board market will be facing is the presence of established markets may provide a hurdle to solid board market growth and development.

 SOLID BOARD MARKET REPORT COVERAGE:

Market Segmentation:

Solid Board Market By Material Type:

• Virgin Paper

• Recycled Paper

The recycled paper segment is expected to be the dominant one in this segment. Virgin paper has no recyclable materials and is created entirely of wood pulp or cotton, so to save the earth the solid board market uses Paper that has been recycled and has been reconstituted into new paper. It's made from of paper scraps that would otherwise be thrown away. As Recycled paper is the most environmentally friendly alternative since it consumes less energy, and water, plus creates fewer carbon emissions than non-recycled paper while also reducing trash to landfills.

Solid Board Market By Application:

• Layer Pads

• Trays

• Edge Protectors

• POP displays

• Boxes

Boxes are expected to be the dominant one in the global solid board market. Solid boards are generally utilized in the manufacture of boxes to store and accommodate a variety of objects within such compartments for storage and transit. Layer pads are also used within cases to separate layers of stacked products such as cans, bottles, and another stiff packaging. The layer pad stabilizes the cargo and uniformly distributes weight to prevent damage during shipment. Because of their rigidity, solid boards serve as layer pads, providing additional assistance and protection to the goods being transported. Solid boards are also used as aspect guards, which are angled pieces that are put over the edge of containers, cartons, and bundles to protect them against steel bands or other types of cutters.

Solid Board Market By End-Use Industry:

• Building and Construction

• Tobacco Packaging

• Food and Beverages

• Cosmetics

The Food and Beverage category is expected to account for the greatest market share. Solid boards are commonly used for packaging in the building and construction industry. The board’s rigid nature and strong upholding ability make them ideal for packaging a variety of construction materials used in the construction industry. Another well-known part of the solid board sector is frozen as well as processed food packaging. The solid boards' lightweight nature makes them ideal for storing processed or frozen foods. During logistical operations, it is also cost-effective. Another area where solid boards are used is in tobacco packing. The moisture-resistant structure of the solid boards protects the tobacco from deteriorating by preventing it from being exposed to moisture.

Solid Board Market Report includes the segmentation of Regions:

• North America 

• Europe 

• Asia Pacific 

• Latin America 

• Middle east and Africa 

In Europe, Due to the strong presence of important businesses profiting from the transition away from single-use plastics, Europe continues to provide larger potential in the solid board industry. Significant growth in the use of both recycled as well as virgin paper for packaging applications is expected to have an impact on the very same scale as the rapid growth for solid boards in Europe, partly based on perceived sustainability practices and growing demands related to e-Commerce and delivery services.

The Asia Pacific has a second larger share in the global solid board market. In the APAC region, because low cost remains a driving force, manufacturers are looking for changes in Asia Pacific's mid-and low-income countries, where labor and operating expenses are comparatively cheap.

North America holds a significant amount of share in the global solid board market. As the counties like The United States, Canada and Mexico are helping in the development and growth of the global solid board market.

Impact of COVID-19 (Solid Board Market):

The COVID-19 outbreak has had a major impact on people's lives all across the world. Every business must battle on two fronts: health and economics, and it will be forced to endure this imposed downturn. With the global economic crisis and the resulting cash constraints, there is a lot of hope that the recovery period would proceed smoothly. As a result of its proliferation, the Coronavirus has harmed the entire globe. In practically every country, lockdowns and strong social isolation measures have been introduced. Supply networks have already been disrupted as a result of this. The epidemic has wreaked havoc on global systems. Because of this, there were upsides and downsides for the global market.

Recent Developments:

30^th March 2021: Two flexible packaging facilities in Spain have been acquired by International Paper. International Paper has expanded its capabilities in Spain by buying expensive state-of-the-art corrugated box factories in Madrid and Catalonia, the country's two main industrial areas. The details of the agreements were kept under wraps. International Paper's corrugated packaging division is a significant company in EMEA, providing customers with high-quality paper packaging inside the industry, fresh fruit, and vegetable, as well as e-commerce areas.

22^nd, October 2020: VPK Group has agreed to purchase Encase Ltd, a corrugated cardboard packaging maker, and designer, from Canadian Overseas Packaging Industries (COPI) Ltd. In England, Encase Ltd runs two integrated corrugated packaging factories and one sheet facility. VPK intends to integrate Encase with its corrugated business in the United Kingdom.

Solid Board Market Key Players:

The key players in the Solid Board Market are:

• VPK Packaging Group

• Smurfit Kappa Group

• International Paper Co

• Nuttall packaging

• Eska

• Preston Board & Packaging Ltd

• Unipak

• Mclaren Packaging

• Model Group.

• VKP Group.