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- Global Automotive Parts Packaging Market
Global Automotive Parts Packaging Market to Reach US$ 7.74 Billion by 2027, Catalyzed by Significant Growth in Automotive Sector
May 12, 2022
According to the latest report by IMARC Group, titled “Automotive Parts Packaging Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026”, the global automotive parts packaging market size reached US$ 5.99 Billion in 2021. Packaging is the process that provides protection to a product against damage and dust. Automotive parts packaging is a specialized form of packaging that covers and protects the parts used in automobiles. These parts include numerous electrical and electronic components that are more prone to damage during transit, loading, and unloading. Apart from damage and dust, these packaging solutions also safeguard the automotive parts from moisture, wind, and weather, thereby extending their shelf life. The increasing production of automotive parts is significantly affecting the sales of automotive parts packaging across the globe.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Global Automotive Parts Packaging Market Trends:
The market is primarily driven by considerable growth in the automotive sector. Apart from this, the growing preference for flexible and sustainable packaging solutions is acting as one of the key growth-inducing factors. In line with this, the rising incorporation of reusable packaging for packing heavy components, such as engine components, underbody components and cooling systems, is also providing a boost to the market growth. Apart from this, the widespread integration of telematics and advanced driver assistance systems (ADAS) with vehicles is also propelling the market growth. The market is further driven by the advent of eco-friendly, molded pulp packaging across the globe. Some of the other factors further contributing to the market include the increasing production of electric vehicles and continual technological advancements in supply chain management. On account of the aforementioned factors, the market is anticipated to reach a value of US$ 7.74 Billion by 2027, expanding at a CAGR of 4.27% during 2022-2027.
Market Summary:
- Based on the component type, the market has been divided into battery, cooling system, underbody components, automotive filter, engine components, lighting components, and electrical components.
- On the basis of the product type, the market has been classified into pallets, crates, bulk containers and cases, bags and pouches, folding cartons, corrugated products, trays, and protective packaging.
- Based on the packaging type, the market has been segmented into disposable and reusable.
- On the geographical front, the market has been segregated into North America (the United States and Canada), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia and others), Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia and others), Latin America (Brazil, Mexico and others), and Middle East and Africa.
- The competitive landscape of the market has been studied in the report with the detailed profiles of the key players. Some of these players include DS Smith plc, Knauf Industries, Mondi plc, Nefab AB, Primex Plastics Corporation (ICC Industries Inc.), Schoeller Allibert Services B.V., Sealed Air Corporation, Signode India Ltd., Smurfit Kappa Group plc, Sonoco Products Company, Sunbelt Paper & Packaging Inc. and WestRock Company.
About Us
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IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
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