Greyboard Market: An Overview
Greyboard is a 100% recycled, low grade thick sheet. Greyboard also known as chipboard, is considered as a more economical alternative of wooden boards. With the rising concerns regarding the usage of plastics have resulted in hiked demand for paperboard packaging solutions which has aided in growth of greyboard market globally. Greyboard is available in many grades and can also be lined using polyethylene, silicon, Kraft linings as well as polyester. Greyboard is chiefly used for making inserts & dividers, book covers, folding cartons and more. Manufacturers are using greyboard to reduce their overall packaging cost incurred. Greyboard is used for the manufacture of various protective packaging solutions such as inserts & dividers. With the growing applications of protective packaging in various end use industries, the demand for greyboard is expected to grow over the next few years.
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Greyboard Market: Dynamics
Greyboard is used in a wide range of applications owing to its light-weight and cost effectiveness. Also, it is recyclable, which makes it an environmentally friendly solution for packaging. Food & beverage packaging industry followed by electronic goods is expected to represent immense growth opportunities for greyboard market which can be attributed to increasing adoption of greyboards in shipping and storing of products. However, greyboard has a raw unfinished appearance which is why it does not have much visual appeal. This restricts the areas of application of a greyboard for point of sale display packaging. In addition to this, greyboard is not considered apt for superior quality printing as they are made from low grade recycled sheets. These factors might hamper the growth of greyboard market during the forecast period.
The overall outlook for greyboard market is expected to remain positive owing to the reliability and sturdiness its offers along with its recyclable, customizable, cost-efficient and environment-friendly characteristics.
Greyboard Market: Segmentation
Globally the greyboard market has been segmented as thickness, applications and end uses.
On the basis of thickness, the global greyboard market has been segmented as follows
- 5 mm – 1 mm
- 1 mm – 1.5 mm
- 5 mm -2 mm
- 2 mm and above
On the basis of applications, the global greyboard market has been segmented as follows
- Edge protectors
- Folding cartons
- Pallet sheets
- Writing pads
- Inserts & dividers
- Others (Book covers etc.)
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On the basis of end uses, the global greyboard market has been segmented as follows
- Food & Beverage packaging
- Personal Care & Cosmetics packaging
- Automotive packaging
- Industrial Goods packaging
- Pharmaceutical packaging
Greyboard Market: Regional Outlook
Geographically, the global greyboard market has been segmented in seven key regions namely, North America, Latin America, Western Europe, Eastern Europe, Asia Pacific excl. Japan (APEJ), Middle East and Africa (MEA) and Japan. The global greyboard market is expected to grow at a healthy CAGR over the forecast period. The fast paced growth of retail chains and packaged goods in the developing countries of Asia Pacific is expected to boost the demand for greyboard in the coming years. Mexico is expected to bolster the automotive and construction sector in Latin America. Growth in these sectors is expected to buttress the growth of greyboard in the region. In the developed countries, the demand for greyboard is expected to be majorly driven by the growing demand of protective packaging solutions. Manufacturers are using inserts and dividers for beverage packaging. On the backdrop of increasing consumption of both alcoholic and non-alcoholic beverages in the region, the greyboard market is expected to attain substantial growth.
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Greyboard Market: Key Players
Some of the key players operating in the global greyboard market are Smurfit Kappa Group plc, Skjern Papirfabrik A/S, Preston Board & Packaging Ltd., Doric Anderton Ltd., Corenso United Oy Ltd., EskaBoard Ltd., Jai Vijaya Paper & Boards Pvt Ltd., Venkateshwara Boards Pvt. Ltd., Emami Paper Mills Ltd, Galaxy Papers Pvt. Ltd. and more. Many other local and unorganized players are expected to contribute to the global greyboard market during the forecast period.