Asia-Pacific Containerboard Market by Material (Virgin Fibres, Recycled Fibres, and Mixed Fibres), by Type (Linerboard and Flutting), by Wall Type (Single Face, Single Wall, Double Wall, and Triple Wall), and by End-User (Food and Beverage, Consumer Electronics, Personal Care and Cosmetics, and Others End-User) – Opportunity Analysis and Industry Forecast, 2024–2030
Industry: Materials and Chemical | Publish Date: 17-Sep-2024 | No of Pages: 172 | No. of Tables: 120 | No. of Figures: 85 | Format: PDF | Report Code : MC2636
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Asia-Pacific Containerboard Market Overview
The Asia-Pacific Containerboard Market size was valued at USD 65.65 billion in 2023 and is predicted to reach USD 88.80 billion by 2030, with a CAGR of 4.10% from 2024 to 2030. In terms of volume the market size was 97790 kilotons in 2023 and is projected to reach 154145 kilotons in 2030, with a CAGR of 5.98% from 2024 to 2030.
The containerboard market refers to the segment of the paper industry that produces a type of paperboard specifically designed for the manufacturing of corrugated boxes and packaging materials.
This encompasses the production, distribution, and consumption of recycled paperboard products by various industries for packaging purposes. These containerboards are durable and strong paperboard which is primarily recycled from old corrugated containers (OCC) and mixed paper, as well as virgin fibres obtained from wood pulp.
These boards offer numerous advantages, including their strength and durability, which ensures reliable protection for products during transit and storage, significantly reducing the risk of damage. Moreover, these coated containerboards offer a lightweight feature which minimizes shipping costs and environmental impact. Its versatility allows for customization to meet diverse packaging needs, from small boxes to large containers.
The Increasing E-commerce Activities Across the Region is Driving the Demand for Containerboards
The exponential growth of e-commerce sector emerged as a significant driver behind the increasing demand for shipping boxes and packaging materials, consequently fuelling the Asia-Pacific containerboard market demand. With the growing trend of consumers shifting towards online shopping, there is a significant surge in the volume of goods being delivered directly to consumer's doorsteps. According to the latest report published by the Indian Council for Research on International Economic Relations (ICRIER), the Asia-Pacific region is witnessing remarkable growth in the e-commerce sector, with an estimated value exceeding USD 6.146 trillion by 2030. This surge in the e-commerce sector is expected to fuel the continued Asia-Pacific containerboard market expansion, propelling manufacturers to innovate and meet the increasing demand for durable packaging solutions in an evolving retail landscape.
The Rising Adoption of Containerboards in Food and Beverage Industry Within the Country Drives the Growth of the Market
The growth of the food and beverage industry in Asia-Pacific significantly is propelling the market. As demand for packaged food and beverages rises, so does the need for efficient and sustainable packaging solutions including containerboard. This market growth is driven by the sector's requirement for durable, cost-effective packaging that maintains product quality during transportation and storage. Containerboard's versatility and eco-friendly profile further enhance its appeal in catering to the expanding consumer base of the food and beverage industry across the Asia-Pacific region.
The Presence of Alternative Materials Restrain the Market Growth
The rise of alternative packaging materials such as plastics, metals, glass, and composites pose a potential challenge to the demand for containerboards. These substitutes could threaten containerboard, especially if they offer cost advantages or superior performance in specific applications.
Innovative advancements in plastic, metal, glass, or composite materials may lead to their increased adoption by industries traditionally reliant on containerboard, potentially resulting in a loss of the Asia-Pacific containerboard market share for containerboard products, particularly where alternative materials offer unique benefits. Additionally, the increasing focus on sustainability and environmental concerns may further drive the shift towards eco-friendly and recyclable alternatives, prompting containerboard manufacturers to adapt by developing more sustainable products to meet evolving consumer and regulatory demands.
The Integration of Nanotechnology and Smart Packaging in Containerboard Creates Market Expansion
The Asia-Pacific containerboard market is expected to experience significant growth as it incorporates emerging technologies such as nanotechnology and smart packaging. These advancements enable the development of high-performance, cost-effective, and versatile containerboard products with enhanced customization and branding capabilities.
Additionally, the integration of nanotechnology and smart packaging solutions will allow for the creation of containerboard products with advanced features such as active protection and real-time monitoring.
This fusion of technology and innovation will unlock new opportunities for the Asia-Pacific containerboard market, driving its growth and expansion in the years to come. With these advancements driving innovation, the market is poised for significant growth in the upcoming years.
China Dominates the Asia-Pacific Containerboard Market Share
The rapid expansion of e-commerce sector in China significantly increased the demand for shipping boxes and packaging materials, essential for the effective packaging and delivery of online orders. This trend drives the Asia-Pacific containerboard market growth. According to the State Council Information Office, China is the world's largest online retail industry, with its cross-border e-commerce sector experiencing rapid growth. In 2023, e-commerce exports surged to USD 257.56 billion, marking a 19.6% increase from the previous year. As e-commerce continues to expand, the demand for efficient packaging solutions remains strong, fueling the development of the market.
Additionally, the rising food and beverage industry in China significantly increased the demand for robust and dependable packaging solutions. These are crucial for packaging a diverse range of food and beverage products, ensuring safe transportation and extended shelf life, thus driving the Asia-Pacific containerboard market growth.
According to the Ministry of Industry and Information Technology, the output of major beverage producers in China surged by 12% year-over-year in 2021, exceeding 183 million tons. In December 2022, beverage production reached 13.59 million tons, an 8.3% increase from the same period the previous year, further highlighting the industry's impact on the market.
Taiwan to Witness Substantial Growth in the Market with a Projected CAGR of 6.55%
The growth of Taiwan's food and beverage sector is significantly boosting the demand for containerboard. As consumers increasingly seek packaged food and beverage products, the need for reliable and durable packaging, such as containerboard, is growing due to its strength and versatility.
Taiwan's food and beverage market, valued at USD 41 billion in 2022, is projected to grow at a moderate rate of 3.7% from 2022 to 2027. This expansion is expected to drive the demand for containerboard and other packaging materials, reinforcing their importance in Taiwan's packaging industry.
Additionally, Taiwan's e-commerce sector is experiencing significant growth, further increasing the demand for containerboard packaging materials. The rise in online shopping leads to a greater need for packaging solutions to efficiently support the shipping and delivery of goods purchased through digital platforms.
According to the Ministry of Economic Affairs (MOEA), Taiwan's e-commerce industry saw substantial growth in 2022, with a notable expansion of 10.95%, reaching approximately USD 16.1 billion. This growth is expected to continue driving the demand for containerboard and other packaging materials, solidifying their importance in the industry.
Competitive Landscape
Several market players operating in the Asia-Pacific containerboard industry include International Paper, WestRock Company, Smurfit Kappa Group plc, Nine Dragons Paper (Holdings) Limited, DS Smith plc, Packaging Corporation of America, Graphic Packaging International, Rengo Co., Ltd., Stora Enso, Greif, Inc., and others.
Asia-Pacific Containerboard Market Key Segments
By Material
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Virgin Fibres
-
Recycled Fibres
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Mixed Fibres
By Type
-
Linerboard
-
Kraftliner
-
Testliner
-
-
Flutting
By Wall Type
-
Single Face
-
Single Wall
-
Double Wall
-
Triple Wall
By End-User
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Food and Beverage
-
Personal Care and Cosmetics
-
Consumer Electronics
-
Others End-User
Asia-Pacific
-
China
-
Japan
-
India
-
South Korea
-
Australia
-
Indonesia
-
Singapore
-
Taiwan
-
Thailand
-
Rest of Asia-Pacific
Key Players
-
International Paper
-
WestRock Company
-
Smurfit Kappa Group plc
-
Nine Dragons Paper (Holdings) Limited
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DS Smith plc
-
Packaging Corporation of America
-
Graphic Packaging International
-
Rengo Co., Ltd.
-
Stora Enso
-
Greif, Inc.
REPORT SCOPE AND SEGMENTATION:
|
Parameters |
Details |
|
Market Size In 2023 |
USD 65.65 Billion |
|
Revenue Forecast In 2030 |
USD 88.80 Billion |
|
Growth Rate (Value) |
CAGR of 4.10% from 2024 to 2030 |
|
Market Volume in 2023 |
97790 kilotons |
|
Volume Forecast in 2030 |
154145 kilotons |
|
Growth Rate (Volume) |
CAGR of 5.98% from 2024 to 2030 |
|
Analysis Period |
2023–2030 |
|
Base Year Considered |
2023 |
|
Forecast Period |
2024–2030 |
|
Market Size Estimation |
Billion (USD) |
|
Growth Factors |
|
|
Countries Covered |
10 |
|
Companies Profiled |
10 |
|
Market Share |
Available for 10 companies |
|
Customization Scope |
Free customization (equivalent up to 80 working hours of analysts) after purchase. Addition or alteration to country, regional, and segment scope. |
|
Pricing And Purchase Options |
Avail customized purchase options to meet your exact research needs. |
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