Solid Board Market

Solid Board Market Outlook (2024 to 2034)

The global solid board market was valued at US$ 9.7 billion in 2023 and has been forecast to expand at a noteworthy CAGR of 2.8% to end up at US$ 13.1 billion by 2034.

Solid board is the ideal packaging material for industries and has been utilized since its inception. Various sectors, including food and beverage, electronics, and construction, use solid board materials for packaging. The usage of solid boards provides a significant competitive advantage over other types of packaging and goods. Mostly solid board packaging is typically used for products that need to be kept secure, such as food, medical supplies, electronics, and other fragile items.

The solid board is predicted to rise in response to increased demand for lightweight and flexible packaging. Promotional packaging such as boxes, layer pads, and pop displays are also on the increase, indicating that solid boards will grow throughout the upcoming years.

The rising disposable income and increase in e-commerce shopping generate demand for the solid board industry. Also, the trend toward eco-friendly products and a dislike for plastic-based items, all of these factors present potential opportunities for the solid board industry.

• Sales of Boxes in the application segment of solid board in 2024 are estimated at US$ 6.0 billion, and the segment will account for 59.9% of the overall solid board market share in 2024.
• By End Use industry segment, Food and Beverages was worth US$ 3.3 billion in 2023 and accounted for 33.7% share of the market.

Report Attributes	Details
Solid Board Market Size (2023A)	US$ 9.7 Billion
Estimated Market Value (2024E)	US$ 10.0 Billion
Forecasted Market Value (2034F)	US$ 13.1 Billion
Global Market Growth Rate (2024-2034)	2.8% CAGR
East Asia Market Share (2024)	33.1%
China Market Growth Rate (2024-2034)	3.0% CAGR
Key Companies Profiled	International Paper Company; Mayr-Melnhof Karton AG; Smurfit Kappa Group Plc; Mondi Group; DS Smith Packaging Limited; Georgia Pacific LLC; WestRock Company; Rengo Co.Ltd; Stora Enso; Billerudkorsnas AB; Other Prominent Players.

Sales Analysis of Solid Board (2019 to 2023) vs. Market Forecasts (2024 to 2034)

A predictive analysis was conducted on the market, for the forecast period of 2024 to 2034, with a historical growth rate of 2.5% from 2019 to 2023. The anticipated growth (2024 to 2034) in sales will rise by 2.8% at a CAGR to reach an absolute dollar opportunity of US$ 3.2 billion.

Historical Report Attributes	Details
Market Size (2019A)	US$ 8.8 Billion
Market Size (2023A)	US$ 9.7 Billion
Historical CAGR (2019-2023)	2.5%
Forecasted CAGR (2024-2034)	2.8%

• Short Term (2024 to 2027): Rising demand from the furniture and construction industries for solid board products is one of the main drivers, maintaining the speed of short-term development of the solid board. In the Asia-Pacific region, new product launches and technological developments boost the solid board. Regional prosperity is further expected to be boosted by the circular economy policy of the European Union.
• Medium Term (2027 to 2030): In the medium term, new applications in the packaging sectors will rise, which demands solid board products for their packaging. It is estimated that new applications and rising demand from emerging economies would increase the solid board market's growth. It will continue on with economic expansion and infrastructural development initiatives in the Asia-Pacific area.
• Long Term (2030 to 2034): Long-term growth in the solid board is anticipated because of rising consumer awareness and government restrictions that fuel demand for sustainable solid board products used in a variety of sectors. The long-term solid board industry is growing because of innovative design advancements and sustainable applications. The solid board industry is still expanding because of customized designs and technological advancements.

On the back of the aforementioned facts, the solid board market is anticipated to grow at a CAGR of 2.8% during the forecast period from 2024-2034, According to the Fact.MR, a market research and competitive intelligence provider.

Market Dynamics

What are the Factors Propelling Global Sales of Solid Board?

“Growth in E-Commerce and Global Trade”

The solid board is influenced by the increase in e-commerce business and global trade in the world. The expansion in the online retail business increases demand for the material utilized in packaging which ultimately increases the sale of the solid board. Solid boards become the most preferred option for packaging in e-commerce due to their durable nature and reliability. The increase in global trade further enhances this need, as companies seek products that are standardized according to global regulations.

• As compared to 2019 electrical and electronics industry demand have increased by 17.6% in 2024. The sale registered in 2024 was nearly US$ 2.0 billion.

Also, the lightweight characteristic of the solid board helps to reduce the weight of the package ultimately benefiting the shifting cost. To enhance these demands, manufacturers of solid board are innovating customized and specialized designs for the solid board product.

What are the Challenges Encountered by Manufacturers of Solid Board?

“Design Complexity Challenges in Solid Board Products”

Design complexity is another major challenge facing the solid board because it reduces the capability of manufacturers to create low-cost, functional solutions for packaging. Consumer tastes are increasingly being drawn to customized and more attractive products that foster the demand for innovative design. Secondly, complex designs can make structures within a package difficult.

The need to find a delicate balance between visual appeal and functional strength means that intricate designs may involuntarily sacrifice the required durability for shipping and handling. Moreover, design complexity can also be related to questions of sustainability, since more complex types of packaging call for additional material input and intricate processes of production.

Country-wise Insights

Why is Adoption of Solid Board High in the United States?

“Increasing e-commerce activities, which boost demand for packaging solutions”

The U.S. market for solid board is estimated at US$ 2.2 billion in 2024 and is projected to expand at a CAGR of 3.0% through 2034, generating a US$ 741.0 million absolute opportunity.

The significant rise of e-commerce in the United States has resulted in an increased demand for more robust and durable board packaging materials. A high percentage of consumers today are shifting their purchasing activities from conventional brick-and-mortar stores to the cyber world, with a resultant increase in the demand for strong, inexpensive, yet flexible packaging material over the past few years. Many e-commerce firms settle for solid board because it offers exceptional strength, lightweight, and flexibility.

The rise of e-commerce has brewed a much more complex logistics landscape & transport packages of all sizes, shapes, and fragilities from the warehouse to the consumer's home safely. solid board packaging does the job admirably with excellent material strength to protect the product while it's in transit, yet lightweight to save on transportation cost. The material is flexible, easily adapted to support a full range of goods, from small electronic devices to large household goods.

Why is China a Lucrative Market for Solid Board?

“Being a Manufacturing Hub, China Propels the Market of the Solid Board”

China holds a market share of 67.4% across East Asia in 2024 and creates an absolute dollar opportunity of US$ 750.1 million over the forecast period.

As one of the global manufacturing powerhouses, China exerts immense influence on the solid board. Large and diverse manufacturing hubs within the country create significant need for packaging products, where solid board is fast emerging as an indispensable substrate due to its versatility, cost-effectiveness, and performance benefits.

China's produced goods are shipped all over the world; this calls for packaging that can survive long-distance shipping and different environments. In meeting these requirements, a solid board is of great use because of the strength and flexibility it possesses. With China's continuing emphasis on sustainable development, the recyclable properties of solid boards are consistent with rising environmental concerns. This eco-friendly property is becoming more important as marketplace pressures for sustainable packaging alternatives rise at home and around the world.

Category-wise Insights

Which Industry is Widely Preferred for the Solid Board?

“High Demand for the Solid Board Box Contributing Highest Share in the Food and Beverages Industry”

Segmental Analysis	Food and Beverages
Segment Value (2024E)	US$ 3.5 Billion
Growth Rate (2024 to 2034)	2.7% CAGR
Projected Value (2034F)	US$ 4.5 Billion

Among the packaging industry segments based on product type, the solid board box has high demand; thus, it contributes the highest share. This segment has several factors that fit best with the current market needs and consumer preferences. Having better strength and durability than any other packaging type makes solid board boxes the best option for protecting a wide array of products from damage during the processes of storing and transporting products.

Versatility is one of the factors that makes solid board packaging so popular among customers. The boxes range from very simple plain cartons to complex designs, high-quality printing, and more. This kind of versatility will seek to make solid board boxes useful across many industries where packaging plays a large role in protecting and presenting the products.

Competitive Landscape

Key players in the solid board market are Billerudkorsnas AB, International Paper Company, Mayr-Melnhof Karton AG, Smurfit Kappa Group Plc, Mondi Group, DS Smith Packaging Limited, Georgia Pacific LLC, WestRock Company, Rengo Co. Ltd, Stora Enso, Billerudkorsnas AB., and other prominent players.

Many companies spend a large fraction of their revenue on R&D that can help solve problems or create innovative solutions to attract new customers who would allow staying in business. Thus, companies are developing tailored solutions to problems satisfying industry needs with the aim of countering others.

• In April 2024, International Paper and DS Smith Plc announced that they had achieved an agreement on the parameters of a recommended all-share merger, resulting in a genuinely global leader in sustainable packaging solutions.
• In Oct 2022, The Mayr-Melnhof group has successfully acquired the Essentra Packaging Company and all entities connected to it. This perfectly complements the current position of MM Packaging in pharmaceutical packaging in the Nordics and France. The strong and profitable pharmaceutical business of the Mayr-Melnhof group can enter the market of cartons, leaflets, and labels through this business move.
• In Mar 2022, The acquisition of Verso by BillerudKorsnäs was completed for about US$ 825 million. It is among the largest manufacturers of North America in the coated paper segment.
• In Mar 2021, International Paper acquired two leaders of corrugated box plants in Spain. These are solutions that will allow the house to expand its operation out of the industrial regions of the country, namely in Madrid and Catalonia.

Fact.MR has provided detailed information about the price points of key manufacturers of Solid Board positioned across regions, sales growth, production capacity, and speculative technological expansion, in the recently published report.

Segmentation of Solid Board Industry Research

• By Material Type :

  • Recycled Paper
  • Virgin Paper

• By Weight :

  • Up to 200 GSM
  • 201 to 300 GSM
  • 301 to 500 GSM
  • Above 500 GSM

• By Application :

  • Boxes
  • POP Display
  • Edge Protectors
  • Trays
  • Layer Pads

• By End Use Industry :

  • Electrical and Electronics
  • Health care and Pharmaceuticals
  • Cosmetics and Personal care
  • Food and Beverages
    • Confectionery
    • Fresh Produce
    • Milk and Dairy
    • Frozen Food
    • Meat and Poultry
  • Building and Construction
  • Tobacco Packaging
  • Other Industrial Packaging

• By Region :

  • North America
  • Latin America
  • Western Europe
  • Eastern Europe
  • East Asia
  • South Asia & Pacific
  • Middle East & Africa