In terms of revenue, the global market size of Corrugated Box Making Machines was 3944.60 million USD in 2016 and will be 4481.34 million USD in 2022. The demand for corrugated boxes in the food and beverage and electronic goods industries is expected to increase during the forecast period because these two industries are the top users of corrugated boxes. Since their invention, corrugated boxes have been mainly used to pack and transport food and beverage products.
China and India dominated the corrugated box making machine market in APAC. The demand for corrugated boxes is also expected to increase from other Southeast Asian countries as these consumable products have not reached the maturity stage. With increasing urbanization and growth of the middle-class population, the demand for various products across different industries is expected to grow during the forecast period.
The corrugated box making machine market in EMEA saw a decline in demand for corrugated boxes in the wake of low crude oil prices, which led to the overall economic slowdown in the Middle East region. The slowdown in the oil and gas industry augmented the slowdown in demand for consumer and industrial products, which in turn, hit the packaging industry in this region. Like EMEA, the Americas witnessed a slow growth in the demand for various products and services owing to the economic slowdown. The packaging industry in the US and Canada showed stagnant growth during the corresponding period.
The key players are BOBST, Packsize, MHI, Dongfang Precision Science & Technology, EMBA Machinery, Shanghai Dinglong Machinery, BCS Corrugated, Shinko Machine Mfg, ISOWA Corporation, Box on Demand (Panotec), Sunrise Pacific Co, T-ROC, Shanghai ChaoChang Packing, Zemat, Guangdong Hongming, Zhongke Packaging, Ming Wei and so on.
The leading companies own the advantages on better performance, more abundant product’s types, better technical and impeccable after-sales service. Consequently, they take the majority of the market share of high-end market. Looking to the future years, the slow downward price trend in recent years will maintain. As competition intensifies, prices gap between different brands will go narrowing. Similarly, there will be fluctuation in gross margin.