North America Coroplast Market Size, Share & Trends Analysis Report By Material (PE, PP), By Application (Graphic Arts, Signage), By Country (U.S., Canada),- Industry Analysis, Size, Share, Growth, Trends, and Forecast 2024-2033

North America Coroplast Market Size and Growth

The North America coroplast market size was exhibited at USD 403.25 million in 2023 and is projected to hit around USD 729.69 billion by 2033, growing at a CAGR of 6.11% during the forecast period 2024 to 2033.

North America Coroplast Market Key Takeaways:

• Polypropylene (PP) segment dominated the market and accounted for the largest revenue share of 59.57% in 2023.
• Polyethylene (PE) is expected to progress with the fastest CAGR of 9.5% during the forecast period.
• Based on application, the market is segmented intographic arts and signage. Graphic art dominated the market and accounted for a share of over 63.0% in 2023.
• Signage application is expected to grow with the fastest CAGR of 8.5% over forecast period.

Report Scope of North America Coroplast Market

Coroplast refers to a type of lightweight, fluted plastic sheet majorly composed of polypropylene and polyethylene resins. Properties of coroplast, such as resistance to corrosion, chemicals, and weather conditions, coupled with reusable product adoption graphics and signage applications, are expected to contribute to the market growth.

According to the National Association of REALTORS, U.S. housing sales are forecast to rise by 13% in 2024. Rising population in U.S. inclusive of citizens as well as immigrants is significantly influencing housing sales and contributing to real estate sector growth. According to United States Census Bureau data, building permits for January 2024 were 1,470,000 housing units. This was 8.6% above the January 2023 value. With a rise in building permits, demand for signage boards for real estate advertisement is expected to rise, thereby influencing demand for coroplast.

Key players in the market are implementing various strategies to enhance their presence and competitiveness. These strategies are launching new products to cater to growing consumer requirements for coroplast material, engaging in mergers & acquisitions to consolidate market share, forming partnerships, and expanding geographically to tap into new areas and distribution channels. For instance, in October 2023, Baystar, a division of Bayport Polymers LLC, introduced its Bay 3 polyethylene unit in Pasadena, TX, signaling a new era in high-performance PE production. Utilizing proprietary Borstar technology from Borealis, the facility marks the first of its kind in North America and doubles Baystar's production capacity.

Consumers and businesses in the U.S. have become more environmentally conscious, thus contributing to the demand for eco-friendly packaging materials like coroplast. Coroplast can be recycled and offers a more sustainable alternative to traditional cardboard packaging.

North America Coroplast Market By Material Insights

Based on material, the market is segmented into polyethylene (PE), polypropylene (PP), and others. Polypropylene (PP) segment dominated the market and accounted for the largest revenue share of 59.57% in 2023. PP is recognized for its low density and versatility. According to Singhal Industries Pvt. Ltd article published in March 2023, polypropylene sheets are widely used in different industries due to their versatility and benefits.

Polyethylene (PE) is expected to progress with the fastest CAGR of 9.5% during the forecast period. PE offers improved flexibility compared to PP. This could be desirable for applications where some degree of bending is required without compromising overall strength. According to the Liberty Plastics, Inc. article published in May 2023, high-density polyethylene (HDPE), recognized for its strength and resistance to high temperatures, finds prevalent use in packaging, construction, and automotive sectors where durability is critical. On the other hand, low-density polyethylene (LDPE) and linear low-density polyethylene (LLDPE), known for their flexibility and moisture resistance, are favored options in packaging and agricultural applications. The adaptability of PE allows manufacturers to customize corrugated plastic sheets to meet the varying requirements of different industries, offering lightweight, cost-efficient, and durable solutions across various industries.

North America Coroplast Market By Application Insights

Based on application, the market is segmented intographic arts and signage. Graphic art dominated the market and accounted for a share of over 63.0% in 2023. Graphic arts represent a crucial application area, encompassing various uses such as printing, advertising, and promotional displays. Coroplast, renowned for its versatility, boasts properties, such as durability, lightweight construction, and moisture resistance, which makes it an optimal choice for various graphic arts and design applications.

Signage application is expected to grow with the fastest CAGR of 8.5% over forecast period. Corrugated plastic sheets offer durability, lightweight, and customization options, making them versatile for indoor and outdoor signage needs. These sheets can withstand exposure to adverse environments, ensuring long-lasting signage solutions.

Country Insights

U.S. Coroplast Market Trends

U.S. dominated North America coroplast market, accounting for largest revenue share of 92.39% in 2023. U.S. has a larger overall market for various goods and services compared to Canada and Mexico. This translates to a potentially higher demand for PE and PP corrugated sheets used in various applications like signage, packaging, and industrial sectors.

Canada Coroplast Market Trends

Coroplast market in Canada is expected to progress with a CAGR of 19.6% over the forecast period. Corrugated plastic sheets, known as coroplast that are available under various other brand names, are widely used across Canada for diverse indoor and outdoor industrial, commercial, and residential applications. According to an article by Canada Plastics & Belting in July 2023, corrugated plastic sheets have compiled layers of polypropylene, including smooth exterior layers and a ribbed middle layer. They are lightweight, durable, and adaptable in terms of packaging, making them popular across different industries in Canada.

North America Coroplast Market Recent Developments

• In March 2023, Inteplast Group renewed its lease for 79,000 square feet facility in Delta, British Columbia where plastic films and coroplast sheet are manufactured.
  
  
• In July 2023, U.S. Plast Inc. was acquired by Isik Plastik AS. This acquisition will help Isik Plastik AS to penetrate the North American coroplast market space.

Some of the prominent players in the North America coroplast market include:

• Coroplast (Inteplast Group)
• SABIC
• Liberty Plastics Inc.
• CoolSeal USA
• Emco Industrial Plastics
• Laminacorr Industries Inc.
• New-Tech Packaging
• Minnesota Diversified Industries (MDI)
• Commercial Plastics Depot
• US Plast Inc.
• Melmat, Inc.
• All Weather Products LLC (AW Substrates)
• Primex Plastics Corporation
• L-S Industries, Inc.
• Ward & Kennedy Co.
• Amatech Inc.
• Matra Plast, Inc.
• Mills Industries
• VYCOM
• Plaskolite
• Con-Pearl North America Inc.
• Plastic-Craft Products
• SUREPAK INDUSTRIES
• Palram Industries Ltd.
• Lundell Plastics Corp.
• Global Plastic Sheeting, Inc.
• Polymershapes Mexico

Segments Covered in the Report

This report forecasts revenue growth at country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2021 to 2033. For this study, Nova one advisor, Inc. has segmented the North America coroplast market

Material

• Polyethylene (PE)
• Polypropylene (PP)
• Others

Application

• Graphic Arts
• Signage

Country

• North America

• • U.S.
  • Canada
  • Mexico