Mobile Phones Packaging Market: Paperboard to Remain Attractive Material Type Segment
As per estimates by a report by Transparency Market Research, the global mobile phones packaging market is predicted to display a CAGR of 7.4% between 2017 and 2027. At this pace, the market is expected to become worth US$8,055.1 mn by 2027 from a valuation of US$3,715.3 mn in 2016.
In a highly fragmented global mobile phones packaging market, top twenty players hold a scanty approximately 20% share of the market. These companies are focusing hard on mergers and acquisitions and capacity expansion in order to maintain their foothold in the market. The market features dominance of small players, the majority of which are concentrated in Asia Pacific.
- The primary growth driver of the global mobile phones packaging market is the packaging needs of mobile handsets, charger, USB cables, headphones, manual, and other complimentary accessories that are provided at the time of purchase of mobile phones.
- Another key factor driving the market is the increasing use of mobile phones packaging by cell phone manufacturers to support branding objectives. To cater to this, packaging companies are compelled to deliver packaging solutions that help their clientsâ mobile brand stand out on retail shelves.
Planning to Lay Down Future Strategy? Perfect your plan with Our Report Brochure Here @Â https://www.transparencymarketresearch.com/sample/sample.php?flag=B&rep_id=25010
Paperboard to Remain Attractive Material Type Segment
The segments into which the global mobile phones packaging market is divided based upon packaging type are rigid boxes, folding cartons, flexible films, insert trays, thermoformed blisters, and other mobile phone packaging products. Of them, folding cartons are expected to continue to be significant backed by the continued preference for mid-range mobile phones. However, the segment of rigid boxes is predicted to hold on to its dominant position over the forecast period between 2017 and 2027.
On the basis of material type, the market is segmented into paperboard, plastics, and molded fiber. The plastic segment can be further segmented into polyethylene terephthalate, poly vinyl chloride, polyethylene, and other plastics. At present, paperboard segment leads the global mobile phones packaging market.
However, plastic based packaging is expected to rise at a below average CAGR of 3.9% between 2017 and 2027. This is mainly due to limited scope of applications of plastic based packaging.
In terms of application, the key segments of the mobile phones packaging market include smart phones, feature phones, refurbished phones, and other specialty phones.
North America mobile phones packaging market is expected to display sluggish growth over the forecast period. The Europe market for mobile phones packaging, driven by Germany, U.K., Italy, and Russia, is expected to rise at a CAGR of 4.1% between 2017 and 2027.
Some of the leading companies in the global mobile phones packaging market are Pragati Pack (India) Pvt. Ltd., Any Graphics Private Limited, Plastic Ingenuity Inc., UFP Technologies Inc., Cellpaks Solutions Ltd., Hip Lik Packaging Products Pvt. Ltd., Koohing International Development Limited, Dongguan City Luheng Papers Company Ltd., and Guangzhou Junye Packaging Co. Ltd.