According to the latest market report published by Transparency Market Research titled “Automotive Parts Packaging Market: Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2017-2027,” the disposable packaging segment will remain the largest contributor to the global automotive parts packaging market during the forecast period, 2017-2027. Global sales were valuated at around US$ 7 Bn in 2017, which are reportedly expected to cross US$ 10 Bn by the end of 2027 at a moderate CAGR of 4.0%.
In addition to ever increasing demand of automobiles and after sales components market globally, continuous research and development in the packaging technology has increased the applicability of the packaging in the automotive sector. For instance, Sealed Air Corporation launched Opti NX shrink films recently in 2016 which possess improved tear resistance properties and enables the application of shrink films on irregularly shaped products.
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Technological development in production technology has led to the sufficient availability of disposable packaging products. Disposable packaging in automotive sector is driven by the adoption of sustainable development by large number of companies as one of the highly effective marketing strategy. These factors have driven the demand of automotive packaging globally.
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The undesirable investment made on the transportation of packaging only has uplifted two of the key trends in automotive parts packaging market. Sealed Air Corporation developed inflatable bubble wrap and introduced it to the global market in 2017. As bubble wraps account for a large volume of air trapped in it, the transportation and storage of it requires huge space conventionally. The air can be released from the inflatable bubble wraps while transporting or storing and it saves on the investment made on the cost of handling.