The sales in the global correx trays market are estimated to projected growth at a CAGR of nearly 4% to 5% during the forecast period 2022-2032. Surging the application of correx trays across the cosmetics & personal care sector and increasing usage for segregating different sizes & types of electrical components such as diodes, resistors, capacitors, and others is expected to bolster the sales in the market.
| Report Attribute | Details |
| Correx Trays Market Projected Growth Rate (2022-2032) | 4% to 5% CAGR |
Correx trays, commonly referred to as corrugated plastic trays, are generally twin-walled fluted trays made up of plastics material such as polypropylene (PP), high-density polypropylene (HDPE), polypropylene carbonate (PC), and others
There is a wide range of correx trays available in the global market in terms of sizes, shape grades, and prices. In addition to this, increasing emphasis on the introduction of novel sustainable, reusable, and recyclable trays is projected to bolster the growth in the global correx trays market.
Correx trays are garnering huge popularity across the transportation, & logistics sectors, owing to their high durability, versatile use, and strong resistance against moisture, chemicals, ultraviolet rays, and other external factors.
In addition to this, due to their ability to provide maximum safety during material handling, these trays are finding a plethora applications for packaging products such as cold drinks glass bottles, and other fragile products. Hence, rapidly expanding retail sector and growing number of hypermarkets, supermarkets, individual stores, and others across the globe are anticipated to create lucrative growth opportunities in the global market.
A number of governmental and environmental protection organizations are implementing numerous stringent regulations regarding the use of plastics such as polycarbonate, polypropylene carbonate, polypropylene, and others. This is hampering the growth of correx trays in the market.
Furthermore, rising end user inclination towards adopting wooden trays and fiberboard trays due to growing concerns pertaining to environmental sustainability is projected to restrain the sales of correx trays in the market.
Future Market Insights reveals that South Asia is forecast to account for a significant share in the global correx trays market between 2022 and 2032.
Due to the emergence of novel infectious diseases such as COVID-19, Ebola, Hepatitis B, Swine Flu, and others, numerous medical and pharmaceutical companies are increasingly investing in several research & development activities for finding effective cures and novel medications.
Correx trays are extensively used for proper storage, handling, and transportation of DNA samples, blood samples, and others and separation of test tubes filled with body fluids of patients across medical laboratories and healthcare spaces. This is estimated to favor the sales of correx trays in the South Asia market.
As per a study by FMI, Europe is anticipated to exhibit rapid growth in the global correx trays during the forecast period 2022-2032
There is a significant rise in shift of the customer preference towards adoption of sustainable packaging and transportation solutions. Hence, key manufacturers in the market are aiming at launching novel eco-friendly, shatterproof, and tamper-proof trays to capitalize on the exiting opportunity.
For instance, GWP Group, a U.K.-based manufacturer of protective packaging recently announced introducing its new anti-scuff Bubbleboard correx trays integrated with advanced VCI coating technology which prevents the trays from corrosion and safeguards the product during transit. A multiplicity of such new product launches is expected to drive the growth in the Europe market.
Some of the leading players in the correx trays market are Adelphi Healthcare Packaging, DS Smith, GWP Correx, Sarcina Packaging Ltd., ApeTape, Duroplastic Technologies, Global Plastic Sheeting, and others.
Prominent players are aiming at providing customized solutions, launching novel products, and adoption merger & acquisition strategies to increasing their share in the highly competitive market.
| Report Attribute | Details |
| Growth Rate | CAGR of 4% to 5% from 2022 to 2032 |
| Base Year for Estimation | 2021 |
| Historical Data | 2015-2020 |
| Forecast Period | 2022-2032 |
| Quantitative Units | Revenue in USD Billion, Volume in Kilotons and CAGR from 2022-2032 |
| Report Coverage | Revenue Forecast, Volume Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends and Pricing Analysis |
| Segments Covered |
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| Countries Covered |
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| Key Companies Profiled |
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| Customization | Available Upon Request |
FMI projects the sales of correx trays in the market is expected to rise at 4% to 5% value CAGR by 2032.
The global correx trays market is expected to be dominated by South Asia the forecast period 2022-2032.
Adelphi Healthcare Packaging, DS Smith, GWP Correx, Sarcina Packaging Ltd., ApeTape, Duroplastic Technologies, Global Plastic Sheeting, and others are some of the leading players in the prominent correx trays market.
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Correx Trays Market
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