PUBLISHER: Grand View Research | PRODUCT CODE: 1493487
PUBLISHER: Grand View Research | PRODUCT CODE: 1493487
The North America coroplast market size is expected to reach USD 635.14 million by 2030, growing at a CAGR of 6.9% over the forecast period, according to a new report by Grand View Research, Inc. This is attributed to properties exhibited by coroplast sheets, such as flexibility, durability, shock resistance, water resistance, and lightweight, which drive its use in signage, graphic art, and packaging applications.
Digital printing is gaining traction in the plastic corrugated sheets market, as it allows for faster and more efficient printing and provides more design options. Hence, coroplast sheet manufacturers are also capitalizing on the growing popularity of digital printing and their related industries' growth.
Raw material suppliers develop grades with enhanced properties suitable to the application requirements of coroplast sheet end-users. For instance, Hostalen PP H2150, a polypropylene homopolymer developed by LyondellBasell Industries Holdings B.V. and PolyMirae Company Ltd, is intended for use in customer industrial sheet applications. This grade offers good stiffness, high heat deformation temperature, and very good heat resistance, making it suitable for the development of plastic sheets for signage and graphic art applications.
The industry players in the market include manufacturers and distributors. These players adopt several strategic initiatives such as partnership agreement expansions, joint ventures, mergers & acquisitions, and new product launches to increase their individual market share. For instance, in July 2023, U.S.-based Piedmont Plastics, a distributor of plastic corrugated sheets, rods, tubes, and films, opened its new branch in Minneapolis, Minnesota. This expansion initiative is aimed at increasing its market presence across various U.S. states.