WestRock Company (US) and International Paper Company (US) are Leading Players in the Corrugated Bulk Bins Market
The global corrugated bulk bins market size is projected to grow from USD 11.6 billion in 2020 to USD 15.4 billion by 2025, at a Compound Annual Growth Rate (CAGR) of 4.2% during the forecast year. Corrugated bulk bins are also known as Gaylord Boxes. They are made from corrugated board, which is a preferred packaging material, because of its sustainability, recyclability, and versatility. Manufacturers are preferring corrugated materials over other conventional materials. Corrugated bulk bins are manufactured from natural renewable resources, consuming high percentages of recovered fibers, which include old newspapers, mixed papers, old corrugated containers, and Kraft papers, thus diverting these materials from the public solid waste stream. For instance, in 2017, around 92% of all cardboard and containerboard manufactured were recovered and recycled in the US. Corrugated materials have the maximum recycling rate of any packaging materials used today, owing to which, corrugated bulk bins are reused to store and move items across the industries.
The corrugated bulk bins market has thousands of companies which thrive in their domestic market. A few of the major players are, WestRock Company (US), International Paper Company (US), Mondi (Austria), Sonoco (US), and Greif Inc. (US). These players have adopted various growth strategies, such as acquisitions, expansions & investments, new product developments, and agreements to increase their market shares and enhance their product portfolios.
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Acquisitions accounted for the largest share of all the strategic developments that took place in the corrugated bulk bins market between 2016 and 2020. Key players such as Greif Inc. (US), WestRock Company (US), and International Paper Company (US) adopted these strategies to enhance their market presence and strengthen their manufacturing and distribution capabilities in the corrugated bulk bins market.
WestRock Company (US) is one of the key manufacturers of paper & packaging solutions, offering a range of corrugated bulk bins solutions in North America. It operates through its segments: corrugated packaging and consumer packaging. The company offers a diverse product portfolio of industrial bulk bin boxes and containers through the corrugated packaging segment. It deals in providing a variety of innovative technology solutions to safeguard the product from spoilage and damage as it travels from farm to table. With its partnership with Grupo Gondi, the company delivers superior packaging solutions to meet customer needs not only in the US but also across the region. The company through its strategic developments aims to strengthen its customer base and product offering globally.
International Paper Company (International Paper) is a global paper packaging company with primary market presence and manufacturing operations in North America, Europe, Latin America, Russia, Asia, Africa, and the Middle East. The company offers a range of corrugated bulk bins products to the end users via the industrial packaging segment. International Paper is the world’s premier manufacturer of containerboard and corrugated packaging. Containerboard mills, box plants, and converting operations across the globe allow the company to sustainably meet the most challenging customer sales, shipping, storage, and display requirements. International Paper’s global coated paperboard business is a premier producer of high-quality coated paperboard used for a wide variety of packaging and food service applications. The company is well-positioned in the global market and has adopted a strong competitive strategy of catering to innovative solutions to its customers across regions. The company follows strong and responsible procurement and manufacturing practices to maximize its value creation. It is in the process of providing environment-friendly and sustainable products by 2020.
Related Reports:
Corrugated Bulk Bins Market by type (Hinged, Totes, Pallets), format (Single Wall, Double Wall, Triple wall), load capacity, Application (Food, Pharmaceutical, Chemical, Consumer Goods, Tobacco) and Region - Global Forecast to 2025
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