Honeycomb is gradually replacing bubble wrap, EPE, thermocol, EP foam, mineral wool, particle boards, rock wool, PUF, MDF, and wood in various packaging solutions. Thus, the rising focus on making packaging materials suitable to the environment and sustainable is expected to work in favour of the global market. Honeycomb packaging is gaining a strong foothold in a range of end-user industries that are in constant need of protective packaging.
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Exterior packaging held a dominant stance in the global market as of 2015 and is expected to do so in the coming years as well. Exterior packaging materials refer to the outer containers and boxes in which the products are packed before being shipped and transported. They are the overall outer packaging which cover the entire product and help in safe transportation from the seller to the buyer. Exterior packaging includes, cartons, boxes, containers, and crates among others. This segment is also forecasted to grow at a steady growth rate owing to continued demand from end-user industries such as automobiles, furniture, and consumer goods.
Geographically the global honeycomb packaging market is segregated into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America. North America led the pack in 2015 and is anticipated to have a steady growth rate over the forecast period. This is attributed to the large size of end-user industries in this region. Asia Pacific is also anticipated to register a significant growth rate in the coming years due to rapid urbanization and increased penetration of end-user industries in this region.