The cardboard plastic (CPM) market was estimated at $8.6 billion in 2022 and is expected to reach $15.3 billion by 2030, at a compound annual growth rate (CAGR) of 7.2%. The market growth is attributed to the increasing demand for recyclable and environmentally friendly packaging, rising consumer awareness of the environmental impact of traditional packaging, and increasing use of CPM in various industries such as food and beverage, retail, and transportation.
Market segments:
The cardboard plastic market is segmented by type (single-layer cardboard plastic, double-layer cardboard plastic, and triple-layer cardboard plastic), application (food and beverage, retail, transportation, construction and building, agriculture, and other industries), and region (North America, Europe, Asia-Pacific, and Latin America and Africa).
Single-layer cardboard plastic is the most popular type of CPM and is expected to maintain a significant share of the market during the forecast period. This is due to the lower cost of production and transportation of single-layer cardboard plastic compared to other types of CPM.
The food and beverage segment is the largest consumer of CPM and is expected to maintain a significant share of the market during the forecast period. This is due to the increasing demand for recyclable and environmentally friendly packaging in the food and beverage industry.
North America is the largest market for CPM and is expected to maintain a significant share of the market during the forecast period. This is due to the presence of advanced packaging infrastructure, strong demand from various industries, and rising consumer awareness of the environmental impact of traditional packaging.
Challenges:
The cardboard plastic market faces challenges such as high raw material prices and intense competition from other packaging materials. However, positive factors such as increasing demand for recyclable and environmentally friendly packaging, growth of various industries, and rising consumer awareness of the environmental impact of traditional packaging are expected to offset the challenges and drive market growth during the forecast period.
Forecast:
The cardboard plastic market is expected to grow at a compound annual growth rate (CAGR) of 7.2% to reach $15.3 billion by 2030. The market growth is attributed to the increasing demand for recyclable and environmentally friendly packaging, rising consumer awareness of the environmental impact of traditional packaging, and increasing use of CPM in various industries such as food and beverage, retail, and transportation.
Source: glasgowwestend.today
