Correx Trays Market: Overview
Correx trays are usually twin walled fluted trays made up of polypropylene material and are suitable for a wide range of applications. It is also called as corrugated plastic trays. As these trays are versatile, and durable its demand in industries is increasing continuously. These trays provide rigid support in material management and ensure easy transit. The market of correx trays is rapidly growing because it gives ease of handling in terms of great reusable storage solution and can be dismantled and flat packed. The correx trays are best suitable medium for protecting fragile containers such as vials and ampoules. The market of correx trays is growing exponentially as it has strong resistance quality against UV rays, chemicals, and water which further helps to reduce contamination. The market of correx trays is highly competitive as a wide range of correx trays in terms of shape, sizes, grades, and prices are available in the market. In order to deal with such rivalry, manufacturers are innovating new trends by adopting advanced technologies for developing eco-friendly, tamper-proof and shatterproof trays. It is witnessed that, maximum key players are from tier III compared to tier II and Tier I regions. Due to increasing benefits and awareness among customer, the global market of correx tubes will increase in multiples during the forecast period.
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Correx Trays Market: Dynamics
The driving thrust for correx trays market is increasing focus on the recyclability of correx trays as these are 100% recyclable and reusable. This results in a positive impact on many companies for switching to correx trays from using black plastic trays, which are difficult to recycle due to carbon black pigment. The fueling factors such as improving supply chain management, reducing risk of damage and enhancing safety are responsible for driving the global market of correx trays. The other parameters like innovative and new product launches, and developing cost-effective products are pushing correx trays market to further extent.
The correx trays demand is increasing consistently with the development of retail sectors as it provides maximum safety during material handling. The increasing number of supermarkets, hypermarkets and individual stores giving boost to the global market of correx trays. Besides this, the global market is growing on the backdrop of tremendous developments in the pharmaceutical sector for the storage and handling of delicate glass products. The opportunities of correx trays are further increased with the increasing trend of ready-to-eat and ready-to-cook food in food and beverages sector. Correx trays market has rampant demand in storing electronic devices.
The corrugated fiberboard trays and wooden trays are the restraining products for correx trays. These products might slow down the growth of correx trays market. However, the shelf life of correx trays is more than these products, as it is easy to clean and lightweight.
Correx Trays Market: Segmentation
By Product Type,
- With lid
- Open top
- Tote trays
By Layers,
- Single wall
- double wall
- Triple wall
By Material,
- Polypropylene (PP)
- High Density Polypropylene (HDPE)
- Polyethylene Terephthalate (PET)
- Polycarbonate (PC)
- Polypropylene carbonate (PPC)
By Thickness,
- Upto 3.5mm
- 5mm to 5mm
- 5mm to 7mm
- 7mm above
By End Use,
- Pharmaceuticals
- Logistics and Transportation
- Medical and Healthcare
- Automobile
- Food and Beverages
- Electrical and Electronics
- Others( Cosmetics and personal care, Manufacturing, Retail stores)
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Correx Trays Market: Regional Outlook
It is witness that due to benefits of correx trays, its demand in various region will increase during forecast period. The fastest growing technologies and equipment for 100% recycling of plastic trays, increasing high opportunities of for this market in UK regions. As per Recoup, a plastic organization in UK, approximately 70,000 Tons plastic trays are collected per year. Besides this, This helps to grow correx trays market exponentially. With the growing trend of retail sectors, increasing number of supermarkets and hypermarket will lead more opportunities for this market in APAC regions especially in China, Japan, and India. Initially, Europe was witnessing the significant increase in the growth of corrugated plastic trays. However, recently new rules and regulations for plastic use are developed which allows single use plastic in the market. This might result into slow growth of correx trays in EU regions.
Correx Trays Market: Key Players
- Adelphi Healthcare Packaging
- DS Smith
- GWP Correx
- Sarcina Packaging Ltd.
- ApeTape
- Duroplastic Technologies
- Global Plastic Sheeting