Automotive Parts Packaging Market Size and Growth Insights To 2027: CMTP Packaging Pty Ltd, DS Smith Plc., Encase Ltd., JIT Packaging, Nefab group

The global automotive parts packaging market accounted to US$ 2.18 Bn in 2018 and is expected to grow at a CAGR of 4.1% during the forecast period 2019 - 2027, to account to US$ 3.12 Bn by 2027.

The global automotive parts packaging market is experiencing an intense growth with regards to the investments, regulations, green market initiatives, and implementation of cost-efficient transportation solutions that lead to overall cost reductions to the automotive OEMs. Companies operating in the automotive parts packaging arena are looking for integration with lean and just-in-time manufacturing supply chain management methodologies creating higher values to their customers. Various innovations and investigations are being carried out on using eco-friendly materials as raw materials for automotive parts packaging whose deployment for future in the current scenario and is anticipated to rise in the coming years.

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The market for automotive parts packaging consists of a handful of well-established players across the globe, which invest huge amounts in order to deliver the most advanced service to the customers. Also, there are many important stakeholders in the automotive parts packaging ecosystem. The customers for automotive parts packaging include a wide variety across the entire automotive value chain that also includes the vehicle OEMs. Strategic partnerships between technology providers and part manufacturers, technology providers and automotive OEMs are anticipated to enable huge surges in the market for automotive parts packaging during the forecast period. Significant market initiatives have been taken by some of the leading companies to gain substantial revenue and expand their customer base globally. For instance, recently, Smurfit Kappa has opened a new plant in Tijuana, Mexico.

The new folding carton plant will strengthen the company's footprint in the Baja California region and neighboring Northern Mexico states. The new Tijuana plant, which began operating last month, uses state-of-the-art technology to produce folding carton packaging solutions including boxes and trays. Further, DS Smith has been using 3D scanner and printer technology to improve the design process for many of its customers. Using 3D scanner technology gives customers even greater flexibility as everyone works against tighter deadlines and the complexity of the automotive supply chain increases.

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The escalation in the production of vehicles worldwide is anticipated to have high impact during short and mid-term, however the impact is projected to slightly reduce during long-term. Also, increasing demand for aftermarket automotive parts is anticipated to have medium impact in the short-term. Although, this will have high impact in mid and long-tern owing to rising awareness among people regarding safety systems as well as their rising spending capability to afford luxury automotive parts. Moreover, absence of global regulation for automotive parts packaging is expected to have medium impact in the short and mid-term and the impact is anticipated to decrease with time.

The major players operating in the market for automotive parts packaging market include CMTP Packaging Pty Ltd, DS Smith Plc., Encase Ltd., JIT Packaging, Nefab group, Pacific Packaging Products Inc., Pratt Industries Inc., Sealed Air Corporation, Smurfit Kappa Group, and Sonoco Products Company among others.

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