Pune, India -- (SBWIRE) -- 03/05/2019 -- The global Automotive Parts Packaging Market accounted for US$ 2.18 Bn in 2018 and is expected to grow at a CAGR of 4.1% over the forecast period 2019–2027, to account for US$ 3.12 Bn in 2027. Factors including escalation in the production of vehicles worldwide and increasing demand for aftermarket automotive parts are significantly driving the global automotive parts packaging market. However, the absence of global regulation for automotive parts packaging is impeding the market growth. Whereas, surging demand for electric vehicles is expected to provide significant growth opportunities for automotive parts packaging market. Some of the leading players in the automotive parts packaging market are highly focusing on strategic mergers and acquisitions in order to enrich its product capabilities as well as to expand their geographical presence across the globe, which in turn is contributing for the growth of the market.

The major players operating in the market for automotive parts packaging market include CMTP Packaging Pty Ltd, DS Smith Plc., Encase Ltd., JIT Packaging, Nefab group, Pacific Packaging Products Inc., Pratt Industries Inc., Sealed Air Corporation, Smurfit Kappa Group, and Sonoco Products Company among others.

This report studies the Automotive Parts Packaging Market status and outlook of Global and major regions from insights of players, countries, product types and end industries. The report provides detailed analyses of the driving forces and opportunities, major market segments, top investment industry trends, key player positioning, and competitive landscape. This report analyzes the top players in global market and splits the market by product type and applications/end user industries.

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The global automotive parts packaging market is experiencing an intense growth with regards to the investments, regulations, green market initiatives, and implementation of cost-efficient transportation solutions that lead to overall cost reductions to the automotive OEMs. Companies operating in the automotive parts packaging arena are looking for integration with lean and just-in-time manufacturing supply chain management methodologies creating higher values to their customers. Various innovations and investigations are being carried out on using eco-friendly materials as raw materials for automotive parts packaging whose deployment for future in the current scenario and is anticipated to rise in the coming years.

The market for automotive parts packaging consists of a handful of well-established players across the globe, which invest huge amounts in order to deliver the most advanced service to the customers. Also, there are many important stakeholders in the automotive parts packaging ecosystem. The customers for automotive parts packaging include a wide variety across the entire automotive value chain that also includes the vehicle OEMs. Strategic partnerships between technology providers and part manufacturers, technology providers and automotive OEMs are anticipated to enable huge surges in the market for automotive parts packaging during the forecast period. Significant market initiatives have been taken by some of the leading companies to gain substantial revenue and expand their customer base globally. For instance, recently, Smurfit Kappa has opened a new plant in Tijuana, Mexico.

The new folding carton plant will strengthen the company's footprint in the Baja California region and neighboring Northern Mexico states. The new Tijuana plant, which began operating last month, uses state-of-the-art technology to produce folding carton packaging solutions including boxes and trays. Further, DS Smith has been using 3D scanner and printer technology to improve the design process for many of its customers. Using 3D scanner technology gives customers even greater flexibility as everyone works against tighter deadlines and the complexity of the automotive supply chain increases.
Market leaders are involved in extensive research for the development of new products with advanced technology as well as expanding their business capabilities through mergers and acquisitions. For instance, recently Nefab Americas acquired Pacific Coast Packaging, a company which specializes in designing and manufacturing of custom wood, foam and corrugated packaging products. The acquisition is anticipated to serve to both strengthen company's product offering as well as boost its presence in the Southern California market. Furthermore, in 2018, DS Smith developed a polypropylene packaging box system to transport and protect automotive car lamp units to final assembly manufacturing plants. Subsequently, introduction of such initiation are expected to provide this market with lucrative growth opportunities.

The most prominent market players in automotive parts packaging market are DS Smith Plc., CMTP Packaging Pty Ltd., Sealed Air Corporation, Sonoco Products Company, Smurfit Kappa Group, JIT Packaging, Nefab group, Pacific Packaging Products Inc., Pratt Industries Inc. and Encase Ltd. among others for a considerable share of the market owing to their product offerings to the market.

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DS SMITH PLC, NEFAB GROUP, CMTP PACKAGING PTY LTD., SONOCO PRODUCTS COMPANY, SMURFIT KAPPA GROUP – PROMINENT MARKET PARTICIPANTS IN AUTOMOTIVE PARTS PACKAGING MARKET

A wholly integrated vehicle comprises of a large number of small, medium size and large components that are assembled together at the automobile OEM. The assembled parts are often transported over a long distance, and have to travel through different means of transport. Packaging solutions ensure that these components reach to the end-user in a complete pristine condition. A plethora of components together constitute the automotive parts including engines, vehicle interiors, decorative items, grillers, spoilers, and engine components etc. Automotive parts packaging solutions maximize the use of packaging space, reduce packaging wastes and thereby create lesser stress on the environment.

The escalation in the production of vehicles worldwide is anticipated to have high impact during short and mid-term, however the impact is projected to slightly reduce during long-term. Also, increasing demand for aftermarket automotive parts is anticipated to have medium impact in the short-term. Although, this will have high impact in mid and long-tern owing to rising awareness among people regarding safety systems as well as their rising spending capability to afford luxury automotive parts. Moreover, absence of global regulation for automotive parts packaging is expected to have medium impact in the short and mid-term and the impact is anticipated to decrease with time.

A wholly integrated vehicle comprises of a large number of small, medium size and large components that are assembled together at the automobile OEM. When these parts are assembdled at the automotive OEM assembly line, the vehicle manufacturers need to remain ensured that parts are received without any defects. The assembled parts are often transported over a long distance, and have to travel through different means of transport. Packaging solutions ensure that these components reach to the end-user in a complete pristine condition. A plethora of components together constitute the automotive parts including engines, vehicle interiors, decorative items, grillers, spoilers, and engine components etc. Automotive parts packaging solutions maximize the use of packaging space, reduce packaging wastes and thereby create lesser stress on the environment.

On the basis of component, the electrical segment is growing at a rapid pace in automotive parts packaging. Electrical components for automobiles are critical and fragile parts and therefore require cautious packaging approaches. A large number of components inside a modern day vehicle are connected electrically. Also, with emergence of in-vehicle infotainment systems, Advanced Drive Assist Systems (ADAS), car telematics, and connected cars, the integrations of electrical components are anticipated to rise at exponential rates. Further, the development of electric vehicles and hybrid electric vehicles are also expected to propel electrical components packaging in the coming years. North American automobile companies have pioneered in integration of these technologies owing to various initiatives taken by environmental bodies, and automobile forums on reducing pollution levels generated by the automobiles.

The overall automotive parts packaging market size has been derived using both primary and secondary source. The research process begins with an exhaustive secondary research using internal and external sources to obtain qualitative and quantitative information related to the automotive parts packaging market. It also provides the overview and forecast for the global automotive parts packaging market based on all the segmentation provided with respect to five major reasons such as North America, Europe, Asia-Pacific, the Middle East and Africa, and South America. Also, primary interviews were conducted with industry participants and commentators in order to validate data and analysis. The participants who typically take part in such a process include industry expert such as VPs, business development managers, market intelligence managers and national sales managers, and external consultant such as valuation experts, research analysts and key opinion leaders specializing in the automotive parts packaging industry.

Key Benefits of Buying this Research Study:
1. Save and reduce time carrying out entry-level research by identifying the growth, size, leading players and segments in the global Automotive Parts Packaging market
2. Highlights key business priorities in order to assist companies to realign their business strategies
3. The key findings and recommendations highlight crucial progressive industry trends in the Automotive Parts Packaging market, thereby allowing players across the value chain to develop effective long term strategies
4. Develop/modify business expansion plans by using substantial growth offering developed and emerging markets
5. Scrutinize in-depth global market trends and outlook coupled with the factors driving the market, as well as those hindering it
6. Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to client products, segmentation, pricing and distribution
7. Examine the political, economic, social and technology impact of the five regions namely: North America, Europe, Asia Pacific, Middle East & Africa and South America.

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