Dunnage packing is the protective packaging used to prevent damage that might impair quality while the goods are handled in transport and logistical activities. As various commodities are frequently transported daily from one site to another, the dunnage packaging industry is anticipated to expand significantly during the projected period. In addition to damage prevention, dunnage packaging offers many additional advantages such as flexibility, cost efficiency, innovative design developments, appropriate coating, environmentally friendly, and resistance to external warm abrasive conditions. Therefore, dunnage packaging is highly efficient in the food beverages industry, the automobile industry, construction industry, and electronics industry. The increase in e-commerce and retail is anticipated to help dunnage packaging market flourish in the future. With the spread of COVID-19 pandemic, operations in many industries have stopped that have further reduced demand for dunnage packaging.
COVID-19 Impact Analysis
- As the COVID-19 pandemic forced countries to enforce lockdown, the supply and distribution chain was disrupted. The shifting of activities in operations and vendor operations impacted the need for dunnage packaging.
- The production process for dunnage has become a challenge for companies due to the limited availability of labour, disrupted raw material supply, and logistic issues. The decreased requirement of dunnage packaging in different sectors led to a downfall in the growth of the dunnage packaging market.
- A fluctuation in the price of raw material occurred due to the implementation of lockdown. Sellers and distributors quoted a high price for raw materials that increased dunnage packaging prices in exchange.
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Top Impacting Factors
- There is an increased requirement for corrugated box packages because they offer optimal solutions for many end-user industries such as cars, electronics and food beverage. Dunnage packaging is expected to expand the market. New technology introduced in dunnage, is expected to strengthen the dunnage packaging market. The standard packing approach is less efficient and consumes more space, which has reduced the limit for storing goods in a container. It is suitable for racking up the materials efficiently and systematically without compromising the health of the materials.
- Rapid urbanization, increased consumption of food beverage, precision, product safety, efficiency in product transit, and handling are the main factors that impact the dunnage packaging market. Dunnage packaging provides resilience, flexibility, and minimal waste production.
- The constraints which restrict the growth of the dunnage packaging market include a high-cost investment that impacts the survival of small or new producers in the marketplace, different regional environmental conditions, and compatibility of the packaging.
Market Trends
High Demand for Dunnage Packaging in the Automotive Industry
Automobile manufacturers transport finished and semi-finished automotive parts, including the supply of body pieces from various suppliers or components to the assemblies. So, the short distance and frequent transport of large and heavy goods have prompted car manufacturers to create sustainable packing solutions as there is a risk of damage. Dunnage packing offers many advantages, such as humidity protection, damage prevention, and stress absorption. Manufacturing companies rely on dunnage packaging due to the benefits. Therefore, increase in demands from the automobile sector to minimize transport damage is expected to boost the growth of the dunnage packaging market.
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Fluctuation in the Price of Raw Material has Hampering the Growth of the Dunnage Packaging Market
Price volatility is a crucial element that is anticipated to hamper market growth during the forecast period. The disparity between supply demand, and the fluctuating price of the oil commodity had affected the budget for dunnage packaging as the automotive sector are left with a low amount to carry on the packaging process. The availability of raw resources at lower or cheaper prices has led to some uncertainty. In January 2020, the COVID-19 pandemic, for example, had a significant effect on the pricing of petroleum that, in turn, influenced the price of raw materials. Fluctuations in the pricing of commodities have so presented the market expansion with a viable threat.
Key Benefits of the Report
- This study presents the analytical depiction of the dunnage packaging industry along with the current trends and future estimations to determine the imminent investment pockets.
- The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the dunnage packaging market share.
- The current market is quantitatively analyzed to highlight the growth scenario of the dunnage packaging market.
- Porter’s five forces analysis illustrates the potency of buyers and suppliers in the market.
- The report provides a detailed packaging market analysis on the basis of competitive intensity and how the competition will take shape in coming years
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Questions Answered in the Dunnage Packaging Market Research Report
- Which are the leading players active in the dunnage packaging market?
- What are the current trends that will influence the market in the next few years?
- What are the driving factors, restraints, and opportunities in the market?
- What future projections would help in taking further strategic steps?
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