Automotive Parts Packaging Market: Size, Share, Growth, Trends, and Forecast, 2016–2024
Sarasota, FL -- (SBWIRE) -- 06/05/2018 -- Global Automotive Parts Packaging Market: Overview
Packaging is basically a system for protecting and corralling a product from any kind of damage. It plays a very important role in the hygienic handling as well as safe storage of a product. Furthermore, it also offers protection from environmental aspects such as moisture, dust, and wind. Apart from protecting the product, packaging also supports in marketing the product to consumers.
Global Automotive Parts Packaging Market: Growth Factors
The global automotive parts packaging market is projected to witness a significant increase in the coming years. Largely driven by the growing involvement of electronic and electrical equipment in the automobile sectors, the global automotive parts packaging market is expected to witness rapid development in the coming future.
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The global automotive parts packaging market is mainly characterized by the change in the demand and requirement of automobiles as well as after sales market for spare devices. Moreover growing implementation of reusable packaging and the packaging of heavy components, for instance, cooling systems, engine components, and others are likely to support automotive parts packaging market development in the coming future.
Global Automotive Parts Packaging Market: Segmentation
In terms of product type, the global automotive parts packaging market can be classified into crates, pallets, bag & pouches, bulk containers & cases, corrugated products, folding cartons, protective packaging, and trays. In terms of packaging type, the global automotive parts packaging market is fragmented into the reusable and disposable packaging. Disposable packaging division is projected to account for the highest market share as compared to reusable packaging. In terms of component type, the global automotive parts packaging market is categorized into cooling systems, battery, automotive filters, underbody components, lighting components, engine components, and electric components.
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Global Automotive Parts Packaging Market: Regional Analysis
In terms of geographical scenario, China is likely to be the major automotive sector in the world, as well as the highest growing market as compared to other major regions. Even though a huge number of automotive parts packaging providers are already recognized and well known in the Asia Pacific region, yet they present packaging solutions at economical and competitive prices thus several global leaders of automotive parts packaging sector have an opportunity and prospect to get into the China automotive sector and grow with it. The expenditure of R&D funds made by automotive parts packaging providers in the Asia Pacific is expected to be much less as compared to other major regions.
The competition in automotive parts packaging industry of China is mainly focused on traditional packaging products rather than manufacturing product specific innovative packaging solutions. Furthermore, expansion in material science has actually resulted into a huge range of cost-effective bio-degradable plastics that can be integrated for developing of disposable automotive parts packaging. The automotive sector is likely to shift towards the implementation of disposable packaging owing to its numerous benefits over reusable packaging.
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Global Automotive Parts Packaging Market: Competitive Players
Some of the most important market players in the global automotive parts packaging market are Mondi Group Plc, Sealed Air Corporation, Sonoco Products Company, DS Smith Plc, Deufol SE, Smurfit Kappa Group, The Nefab Group, Encase Ltd., Sunbelt Paper & Packaging Inc., Primex Design & Fabrication Corporation, CMTP Packaging Pty Ltd., Loscam Australia Pty Ltd., Pratt Industries, Inc., JIT Packaging Inc., Pacific Packaging Products, Inc., Signode India Ltd., Victory Packaging L.P., Monoflo International, Inc., Schoeller Allibert Services B.V., and Knauf Industries, among others.
Global Automotive Parts Packaging Market: Regional Segment Analysis
The Asia Pacific
The Middle East and Africa
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