The global market for industrial packaging was estimated at US$48.6bn in 2013 and is forecast to reach US$61bn by 2020, at a growth rate of 3.4% per annum, according to a new study by the British market research company Smithers Pira. The study describes Asia as having accounted for the largest share of the industrial packaging market at 31% in 2013 and that it will continue to see the highest growth: the region will increase its share of total demand to 34% by 2020, according to the report’s findings. In contrast, West Europe is expected to see its share fall to 28% by 2020 as overall growth falters, with some key markets in decline.
Global industrial packaging market to reach US$61bn
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