The global automotive parts packaging market size is predicted to grow at a robust CAGR from 2024-2032. The growing population, urbanization, and automobile sales will help the market grow during the forecast period.
Demand for comfort functions in automobiles and bio-based & green fuel automobiles are the key reasons for the rising demand for automotive parts packaging. These packaging products are used to protect precious automobile parts from dents and vibrations during transportation. Rising automotive production due to the growing demand for personal mobility will boost the market growth during 2024-2032.
Fortune Business Insights™ provides this information in its upcoming report titled “Automotive Parts Packaging Market, 2024-2032”.
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Segmentation:
On the basis of product type, the market is divided into corrugated boxes, reusable containers and cases, crates, trays, folding cartons, bags and pouches, pallets, and protective packaging.
Based on packaging, the market is segmented into reusable and disposable types.
According to component type, the market is fragmented into a battery, cooling system, underbody components, automotive filters, engine components, lighting components, and electrical components.
Geographically, the market is divided into North America, Europe, Asia Pacific, the Middle East & Africa, and Latin America.
Report Coverage:
The report offers:
- Major growth drivers, restraining factors, opportunities, and potential challenges for the market.
- Comprehensive insights into the regional developments.
- List of major industry players.
- Key strategies adopted by the market players.
- Recent industry developments include product launches, partnerships, mergers, and acquisitions.
Drivers and Restraints:
Rising Urbanization and Automotive Demand will Boost Market Growth During Forecast Period
One of the key factors driving the automotive parts packaging market growth is the protection of automobile parts from dents, dings, and vibrations during shipping and storage. It usually carries tubing, part protectors, corrugated boxing solutions, and so on.
The demand for new automobiles due to rapid urbanization and rise in household incomes is another factor driving the product demand. The increasing packaging and production of heavy components such as engine and cooling components will also positively impact the growth of the market. Due to the growing awareness of environmental protection and the interest of customers towards bio-based packaging substances, the market is expected to grow during 2024-2032.
Regional Insights:
North America to Lead Backed by Increasing Demand for the Product
North America is anticipated to hold the largest share of the automotive parts packaging market. Due to the increasing population and progress in living standards, the market is expected to show considerable growth during the forecast period. Ongoing government efforts towards vehiclular weight reduction to boost fuel efficiency will foster regional expansion.
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Competitive Landscape:
Leading Players adopt Acquisition Strategies to Stay Competitive
Several players in the market are using acquisition strategies to build their business portfolios and strengthen their market position. In addition, partnerships and collaborations are among the common strategies adopted by companies. Key market players are making R&D investments to bring advanced technologies and solutions.
Key Industry Development:
- December 2024: Titan Corrugated, Inc., a producer of corrugated packaging goods, and its partner All Boxed Up, LLC, a distributor of corrugated boxes, was acquired by UFP Industries. .
List of Key Players Mentioned in the Report:
- Monoflo International (U.S.)
- Pacific Packaging Products, Inc. (U.S.)
- Schoeller Allibert (Europe)
- Knauf Industries (France)
- Sunbelt Paper and Packaging Inc. (U.S.)
- LOSCAM (China)
- CMTP (Australia)
- NEFAB GROUP (Sweden)
- Pratt Industries, Inc. (U.S.)
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