Global Corrugated Plastic Packaging Market (2018-2022): The Increasing Cost of Plastic Polymers is Challenging Growth – ResearchAndMarkets.com

Packaging vendors are increasingly adopting smart packaging solutions to gain a competitive edge in the market. Vendors are utilizing new printing and labeling technologies to strengthen their supply chain management. Thus, the increasing popularity of smart packaging will be a key trend that will boost market growth during the forecast period.

According to the report, one of the major drivers for this market is the growing demand for e-commerce packaging. The rapidly growing e-commerce market and the increasing online sales of consumer electronics is driving the growth of the e-commerce market, which, in turn, is creating a demand for e-commerce packaging products such as corrugated plastic boxes, totes, and shipping containers.

Further, the report states that one of the major factors hindering the growth of this market is the increasing cost of plastic polymers such as PP and PE. This hike in price of plastic polymers is due to the rise in crude oil prices and supply shortage. The fluctuations in the prices of raw materials is expected to hamper the market growth during the next five years.