South Korea 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: 25-Nov-2024 | No of Pages: 113 | No. of Tables: 79 | No. of Figures: 44 | Format: PDF | Report Code : MC2651
South Korea Containerboard Market Overview
South Korea Containerboard Market size was valued at USD 2.57 billion in 2023 and is predicted to reach USD 3.60 billion by 2030, with a CAGR of 4.63% from 2024 to 2030. In terms of volume the market size was 3607 kilotons in 2023 and is projected to reach 5921 kilotons in 2030, with a CAGR of 6.60% 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 containerboard 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 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 Trade Activities Within the Country is Driving the South Korea Containerboard Market Growth
The rising trade activities in South Korea drive the demand for containerboard for packaging materials to support the import and export of goods. Containerboard offers durability and versatility, making it essential for packaging various products efficiently. The country's total exports reached USD 58.1 billion in May 2024, reflecting an increase from USD 56.3 billion in the previous month.
This growth in international trade is bolstered by South Korea's strategic location, highly developed infrastructure, and favorable business environment, making it an attractive destination for foreign investors and traders. As trade volumes continue to expand, the demand for containerboard is expected to remain strong, further fueling the growth of the market in South Korea.
The Rapid Growth of Industrialization Across the Nation is Driving the Demand for Containerboards
The rapid expansion of industrialization significantly contributes the South Korea containerboard market growth. As manufacturing activities across various sectors increase, there is a higher demand for containerboard for packaging materials in industries such as consumer goods, electronics, automotive, and others. The notable surge in South Korea's industrial production in March 2024, with a 2.5% year-on-year increase following a substantial 9.6% growth in the previous month, highlights the pivotal role of industrialization in driving the containerboard market. This trend indicates promising prospects for the market's expansion as industrial activities continue to grow.
The Presence of Alternative Materials Restrain the South Korea Containerboard Market Growth
The rise of alternative packaging materials such as plastics, metals, glass, and composites pose a potential challenge to the demand for containerboard. 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 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 South Korea Containerboard Market Expansion
The 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 South Korea containerboard market growth and expansion in the years to come. With these advancements driving innovation, the market is poised for significant growth in the upcoming years.
Competitive Landscape
Several key market players operating in the South Korea containerboard industry includes Hansol Paper Co., Ltd., Moorim Paper Co., Ltd., Asia Paper Manufacturing. Co., Ltd, Jeonju Paper Corporation, Korea Export Packaging Ind. Co., Ltd., Mondi Group, Orchidsm Paper Products Company, Rengo, WestRock Company, Stora Enso, and others.
South Korea Containerboard Market Key Segments
By Material
-
Virgin Fibres
-
Recycled Fibres
-
Mixed Fibres
By Type
-
Linerboard
-
Kraftliner
-
Testliner
-
-
Flutting
By Wall Type
-
Single Face
-
Single Wall
-
Double Wall
-
Triple Wall
By End-User
-
Food and Beverage
-
Personal Care and Cosmetics
-
Consumer Electronics
-
Others End-User
Key players
-
Hansol Paper Co., Ltd.
-
Moorim Paper Co., Ltd.
-
Asia Paper Manufacturing. Co., Ltd
-
Jeonju Paper Corporation
-
Korea Export Packaging Ind. Co., Ltd.
-
Mondi Group
-
Orchidsm Paper Products Company
-
Rengo
-
WestRock Company
-
Stora Enso
REPORT SCOPE AND SEGMENTATION:
|
Parameters |
Details |
|
Market Size In 2023 |
USD 2.57 Billion |
|
Revenue Forecast In 2030 |
USD 3.60 Billion |
|
Growth Rate (Value) |
CAGR of 4.63% from 2024 to 2030 |
|
Market Volume in 2023 |
3607 kilotons |
|
Volume Forecast in 2030 |
5921 kilotons |
|
Growth Rate (Volume) |
CAGR of 6.60% from 2024 to 2030 |
|
Analysis Period |
2023–2030 |
|
Base Year Considered |
2023 |
|
Forecast Period |
2024–2030 |
|
Market Size Estimation |
Billion (USD) |
|
Growth Factors |
|
|
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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