PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1498725
PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1498725
Cement Packaging Market size was valued at USD 359,983.43 Million in 2023, expanding at a CAGR of 4.89% from 2024 to 2032.
The expansion of the construction sector, particularly in emerging economies, is a primary driver. Increased infrastructure development projects and urbanization contribute to higher cement demand, boosting the packaging market. Fluctuations in the prices of raw materials used in packaging, such as paper, plastic, and other polymers, can increase production costs, posing a restraint to market growth. The rapid urbanization and industrialization in emerging markets offer significant growth opportunities.
Cement Packaging Market- Market Dynamics
Government initiatives aimed at promoting infrastructure development and sustainable building practices
Governments worldwide have increasingly recognized the importance of infrastructure development and sustainable building practices to support economic growth, improve quality of life, and address environmental challenges. The General Services Administration (GSA) mandates the use of sustainable design principles in federal buildings, often following LEED (Leadership in Energy and Environmental Design) certification guidelines. The government has established aggressive goals for the transportation industry, such as building a 2 lakh-kilometer national highway network by 2025 and increasing the number of airports to 220. In addition, plans call for the development of 35 Multi-Modal Logistics Parks (MMLPs) and the operationalization of 23 rivers by 2030.23 February 2024.
Cement Packaging Market- Key Insights
As per the analysis shared by our research analyst, the global market is estimated to grow annually at a CAGR of around 4.89% over the forecast period (2024-2032)
Based on material segmentation, the paper was predicted to show maximum market share in the year 2023
Based on product type segmentation, Sewn Open Mouth was the leading type in 2023
On the basis of region, Asia Pacific was the leading revenue generator in 2023
The Global Cement Packaging Market is segmented on the basis of Product Type, Material, Capacity, and Region.
The market is divided into four categories based on material: Paper, Plastic, High-density Polyethylene (HDPE), and Polypropylene (PP). Throughout the projected period, the paper segment is anticipated to earn the greatest share. The segment's expansion is linked to the escalating environmental problems associated with landfills, the deterioration of packaging materials, and the switch from plastic to more used paper in cement packaging. Furthermore, the market for cement packaging is driven by the rising demand for recyclable and ecological packaging.
The market is divided into four categories based on product type: Sewn Open Mouth, Pinched Bottom Open Mouth, Valve Sacks, and Open Mouth Sacks. The use of sewn open mouth (SOM) type in cement packaging offers several benefits, making it a popular choice in the construction and building materials industry. Sewn open-mouth bags are often made from recyclable materials, contributing to sustainability efforts. Their reusability and recyclability help reduce the environmental impact associated with cement packaging. While primarily used for cement, these bags can also be adapted for other granular or powdered materials, making them a versatile option for various industries.
Cement Packaging Market- Geographical Insights
The largest and fastest-growing cement packaging market is found in the Asia Pacific region. Rapid urbanization, the expansion of infrastructure, and supportive government policies in nations like China, India, Japan, South Korea, and Australia are the main drivers of this growth. The development in buildings in the area, particularly in residential and commercial projects, greatly increases demand for cement and its packaging. In Europe, the building industry in nations like Germany, France, the UK, Italy, and Spain has an impact on the cement packaging business. The region's continuing infrastructure developments and refurbishment efforts assist the market. Notable market trends include the usage of eco-friendly products and the emphasis on sustainability.
Key Players in the Cement Packaging Market include BillerudKorsnas AB, Hood Packaging Corporation, Bag Corp, Langston Companies Inc., United Bags Inc., B&G Products LLC, etc. Mondi Group is a leader in paper and packaging, offering a range of products for cement packaging. Rengo Co., Ltd. Is a major player in the Asian market with a strong presence in paper and corrugated packaging. With increasing regulatory and consumer pressure for sustainable packaging, players are developing biodegradable and recyclable packaging materials. BillerudKorsnas, for instance, promotes sustainable kraft paper solutions. Market leaders often engage in mergers and acquisitions to expand their geographical reach and product portfolios. This strategy helps in consolidating market positions and achieving economies of scale.
In March 2021, Tarmac first launched 50% recycled content packaging for cement products. Sites produce a 30 per cent recycled content bag are due to switch to the latest packaging in the coming months.
In March 2023, ABB and Parason collaborated to scale up sustainable packaging in India. This collaboration supports India's ambition to reduce its 3.5 million tonnes of plastic waste per year.
GLOBAL CEMENT PACKAGING MARKET KEY PLAYERS- DETAILED COMPETITIVE INSIGHTS
BillerudKorsnas AB
Grief Inc.
Hood Packaging Corporation
Sealed Air Corporation
Sonoco Products Company
Pro-Pac Packaging Limited
Bag Corp
Greif-Fibrestar Ltd.
El Dorado Packaging Inc.
Langston Companies Inc.
Knack Packaging Pvt Ltd
United Bags Inc.
Material Motion Inc.
B&G Products LLC
Others