The corrugated equipment market is likely to gain substantial momentum owing to rapid industrialization, expansion of established food processing facilities, rising demand for food & beverage products, surging demand for effective packaging solutions, and increasing use of folding gluing machines across numerous end-use industries.

Growing deployment of non-HQ flexo machines will further stimulate the market growth. A corrugated or corrugation equipment is a set of machines thar are specifically designed to bring together nearly three or more than three or even seven sheets of paper in an ongoing process to produce a triple, double, or single wall board.

Corrugated equipment market is bifurcated into different segments in terms of equipment, industry, and regional landscape.

With respect to equipment, the corrugated equipment market is classified into web-to-sheet litho-laminators, web-to-web litho-laminators, sheet-to-sheet litho-laminators, and non-HQ flexo. In 2020, the non-HQ flexo segment held 33.35% revenue share and is anticipated to witness more than 2.8% CAGR over the projected time frame.

In comparison to HQ-Flexo, the non-HQ flexo machines are much cheaper due to low quality. It holds the largest share because of its large acceptance in end user industries. The strongly growing end user industries will thereby fuel the demand for these machines in the coming years.

The non-HQ flexo segment is further classified into folding gluing, rotary die cutter, flat-bed die cutter. The flat-bed die cutter segment will foresee more than 3.0% CAGR over the coming time period. The flat bed die cutters are mainly used for low volume projects and cost-effective operations. These machines are suitable for customized manufacturing projects and operations owing to their interchangeability. Flat-bed die cutter machines are easy to operate and are cost effective, thus propelling their market share over the years.

The rotary roller die-cutting segment will showcase a CAGR of around 3.5% over the forthcoming time period. The rotary roller die-cutting machine is suitable to die-cut all kinds of corrugated cardboards and numerous other packages. These machines are gaining popularity owing to their energy saving, high quality, and safety characteristics. The surging demand for effective packaging solutions in the global retail sector will drive the rotary die cutter demand.

Meanwhile, the folding gluing segment will exhibit more than 2.7% CAGR over the estimated time period. The demand for folding gluing machine is highly dependent on the increasing demand for safe packaging from numerous end user industries.

The corrugated paperboard packaging demand is dependent on the rising demand coming from the food & beverage industry. The growth is majorly ascribed to the rising consumption of packaged products. Folding gluing machines significantly decrease the time and cost of manufacturing packaging products and boxes. This machine can be found in several end user industries such as pharmaceuticals, F&B, personal care, and electronics.

The web-to-web litho-laminators segment will showcase nearly 3.2% CAGR through the projected time period. The high demand for decorative packaging products will propel litho laminators during the forecast time period. These machines are suitable for mature markets having high volume as well as with precise tolerance demand. The demand for these machines will thus be driven by the growing end user industries such as industrial & transit, home & personal care as well as food & beverage.

In terms of end-use, the overall corrugated equipment market is categorized into pharmaceuticals, paper & pulp, textile, home & personal care, electrical & electronics, food & beverages, and others. Among these, the food & beverages segment will exhibit more than 3.7% CAGR over the forecast time period. The global food & beverage industry is witnessing a modest growth due to the rising income level around the globe, particularly in Asia Pacific. In fact, the food & beverage industry is a major consumer of paperboard packaging. The increasing consumption of processed food will drive the demand for packaging materials. The increasing usage of recyclable materials for processed food will result in higher demand for paperboard over the forecast time period.

Meanwhile, the textile end-use segment will witness around 2.6% CAGR over the forthcoming time period. The growing population in the Asian countries in line with improving economic conditions will boost the global textile & apparel industry. The region has witnessed a dramatic growth over the past decade, which has encouraged consumerism as well as the demand & trade of textiles. The rising domestic demand coupled with the increasing spending power of individuals across developing countries such as China and India will drive the textile industry in the coming years.

The paper & pulp segment will witness more than 2.4% CAGR over the forthcoming time period. The global pulp & paper industry is majorly influenced by social as well as environmental factors. At present, paper consumption is at an unsustainable level and is gradually rising across the globe, especially in APAC. The industry is facing some disturbances from environmental forces like impact of climate change and policies related to deforestation. However, closed loop industrial practices, like recycling of paper, are making the industry more sustainable, thus strengthening the market growth.

The others segment is expected to grow at a CAGR of 2.2% over the forecast time period. The others segment includes employment of corrugated equipment in chemicals, cosmetics, agriculture, automotive industries. The global chemical and automotive industries are witnessing a modest growth rate, which will augment the product demand over the coming time period.

From a regional frame of reference, Asia Pacific corrugated equipment market is projected to witness a respectable CAGR of more than 3.9% over the forecast timeframe. High market share is strongly attributed to the presence of large domestic markets in the region including China and India. The planning of food processing manufacturers to establish new processing facilities as well as expansion of established food processing facilities in the region will further support the regional growth over the coming time period.

Meanwhile, corrugated equipment market in Middle East & Africa is expected to witness gains of 3.0% CAGR over the forthcoming timeframe. Growing industrialization coupled with the rising demand for food & beverage products in the region is supporting market growth. In addition, the growth in pharmaceuticals and electronics industries in the region will propel the market growth in the coming years.