Duplex Board Market Size, Share, Growth, And Industry Analysis, By Type (Coated Duplex Board, Coated White-Back Duplex Board and Others), By Application (Factory Packaging, Logistics Packaging and Other), Regional Insights, and Forecast From 2024 To 2032

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Duplex Board Market Report Overview

The global duplex board market size was valued at USD 2.59 billion in 2023 and is projected to grow from USD 2.75 billion in 2024 to USD 4.41 billion by 2032, exhibiting a CAGR of 6.08% during the forecast period. Asia-Pacific holds leading position in duplex board market share in 2023.

A type of paperboard or cardboard is duplex board. Due to its two layers, or plies, the board is known as duplex. Even without a coating, duplex board is sturdy enough to be used to produce disposable cups. Coating the board's outside increases its water resistance and gives it a glossy sheen. Unlike regular corrugated cardboard, duplex board is strong, thin, and capable of taking on a bright white appearance. It is frequently employed to make boxes for various tiny objects. It is frequently utilized, for instance, in pharmaceutical packaging. Additionally, it is utilized in the food business, the production of paper plates and cups, clothing boxes, and cigarette packs.

A form of packaging material created from recycled paperboard is coated duplex panel. Food and other consumer goods packaging frequently uses it. Some of the key reasons propelling the growth of the coated duplex board industry include rising food packaging demand and rising environmental sustainability consciousness. In addition, the demand for coated duplex panel is being fueled by increased disposable incomes and shifting consumer lifestyles. Additionally, the packaging of numerous consumer goods, including cosmetics, electronics, and auto parts, is increasingly using coated duplex panel, which is fueling the market's expansion.

COVID-19 Impact:

"Temporary Lockdowns to Hamper Market Supply"

The global COVID-19 pandemic has been unprecedented and staggering, with duplex board experiencing lower-than-anticipated demand across all regions compared to pre-pandemic levels. The rise in CAGR is attributable to the duplex board market growth and demand returning to pre-pandemic levels once the pandemic is over.

The sector has suffered as a result of the second COVID-19 wave, which mandated lockdowns and movement restrictions. Similar to last season, the demand has declined. The COVID-19 pandemic containment measures' second wave has once more had an effect on the sector. Despite producers' and merchants' hopes for higher demand and a rebound over the previous year, the increasing incidents and lockdowns have impeded the efforts for the second season in a straight. As soon as the nationwide lockdown was announced by the central authorities, everything came to a standstill. Weather-related lockdowns at the state or district level have prevented a complete lockdown, allowing the sale and delivery of duplex panel in some parts of the country.

Latest Trends

"Recycled Paper Products to Provide Impetus to The Market"

Coated duplex panel of the recycled fibers type is produced using recycled paper products. It can be utilized in a range of applications and is an eco-friendly packaging alternative. The market is being propelled by the rise in demand for environmentally friendly packaging options as well as the expanding use of coated duplex panel in end-use sectors including the food and beverage, cosmetics, and other industries.

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Duplex Board Market Segmentation

• By Type Analysis

According to type, the market can be segmented into coated duplex board, coated white-back duplex board and others.

In terms of product, coated white-back duplex is the largest segment.

• By Application Analysis

Based on application, the market can be divided into factory packaging, logistics packaging and other.

In terms of application, factory packaging is the largest segment.

Driving Factors

"Dry Food Segment to Augment Market Growth"

The coated duplex panel market for dry food applications such as cereals was the largest in the world. The product is extensively used in the food business to package morning cereals, granola, muesli, and other items of a like kind. Due to increasing demand from a variety of end-use sectors, such as the cosmetics and home goods industries, this application segment is anticipated to maintain its dominance over the forecast period. Additionally, coated duplex panels are frequently used to package foods that need to be frozen or cooled, including ice cream, sorbet, sweets (puddings), sparkling and still fruit juices, dairy goods (non-fat milk), water ice cream, cakes, and pies, among others. A significant factor boosting product usage in this application area has been the rise in demand for prepared meals that are both quick and nutritious.

"Increased Demand in Toy Sector to Propel Market Growth"

One of the key drivers propelling the duplex board market growth is the increasing demand from the toy sector for coated duplex panels. The coated duplex panel is an excellent material for making toys because it offers great rigidity, superior printability, and dimensional stability. One of the key reasons fueling the expansion of this market is the rising demand for eco-friendly goods and packaging options. The market is expanding as a result of the rising demand from the food and beverage industry for coated duplex panels. Because of its exceptional qualities, including high stiffness, good printability, and environmental friendliness, coated duplex panels have seen a major growth in application in both industrial and consumer items in recent years.

Restraining Factors

"Lack of Rigidity to Impede Market Expansion"

There can be a few drawbacks to duplex board. Duplex panel isn't as strong as corrugated cardboard; under pressure, it will bend rather than break. Additionally, due to its lack of rigidity, duplex panel won't maintain its shape over time. Nevertheless, these flaws are less significant than they otherwise would be since it serves as a supplementary layer in boxes that also rely on corrugated cardboard as their primary source of strength.

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Duplex Board Market Regional Insights

"Asia Pacific to Dominate the Market Due to Rising Product Demand"

Asia Pacific dominated the coated duplex board market share globally, and this dominance is anticipated to persist during the projected period. Rising product demand from a variety of end-use industries, including electronics, automotive, construction, packaging, and printing ink, can be credited with this region's rise. Due to its rapid industrialization and rising foreign investment in the construction of manufacturing facilities, the region is one of the world's major manufacturers and users of coated paper.

Key Industry Players

"Key Players Focus on Partnerships to Gain a Competitive Advantage "

Prominent market players are making collaborative efforts by partnering with other companies to stay ahead of the competition. Many companies are also investing in new product launches to expand their product portfolio. Mergers and acquisitions are also among the key strategies used by players to expand their product portfolios.

LIST OF TOP DUPLEX BOARD COMPANIES

• Box Packing Solution (India)
• Siam Kraft Industry Co, Ltd (Thailand)
• Krishna Industries (India)
• Knam Marketing Pvt Ltd (India)
• Zeeshan International Agencies Pvt Ltd (Bangladesh)
• Tekopapergroup (U.S.)
• SCG Packaging (Thailand)
• B J Bhandari Papers Pvt. Ltd. (India)
• HJ Enterprise (India)

Report Coverage

This research profiles a report with extensive studies that take into description the firms that exist in the market affecting the forecasting period. With detailed studies done, it also offers a comprehensive analysis by inspecting the factors like segmentation, opportunities, industrial developments, trends, growth, size, share, restraints, etc. This analysis is subject to alteration if the key players and probable analysis of market dynamics change.