Composite Paperboard Market

The global composite paper and paperboard market is expected to see continued growth in consumption, with a forecasted CAGR of +0.7% in volume and +2.6% in value from 2022 to 2030. China leads consumption and production, while the Netherlands is the main exporter. Import and export prices have seen notable increases, with varying trends among different countries over the period from 2012 to 2022.

Market Forecast

Driven by increasing demand for composite paper and paperboard worldwide, the market is expected to continue an upward consumption trend over the next eight-year period. Market performance is forecast to retain its current trend pattern, expanding with an anticipated CAGR of +0.7% for the period from 2022 to 2030, which is projected to bring the market volume to 5.1M tons by the end of 2030.

In value terms, the market is forecast to increase with an anticipated CAGR of +2.6% for the period from 2022 to 2030, which is projected to bring the market value to $10.2B (in nominal prices) by the end of 2030.

Consumption

World Consumption of Composite Paper And Paperboard

For the fourth year in a row, the global market recorded growth in consumption of composite paper and paperboard, which increased by 2.2% to 4.8M tons in 2022. In general, consumption continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2019 when the consumption volume increased by 4.2%. Over the period under review, global consumption attained the peak volume in 2022 and is expected to retain growth in the immediate term.

The global composite paperboard market revenue shrank modestly to $8.3B in 2022, remaining relatively unchanged against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Overall, consumption, however, continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 when the market value increased by 9.4%. Over the period under review, the global market attained the peak level at $9B in 2013; however, from 2014 to 2022, consumption remained at a lower figure.

Consumption By Country

China (1M tons) constituted the country with the largest volume of composite paperboard consumption, comprising approx. 21% of total volume. Moreover, composite paperboard consumption in China exceeded the figures recorded by the second-largest consumer, the United States (511K tons), twofold. India (421K tons) ranked third in terms of total consumption with an 8.8% share.

In China, composite paperboard consumption contracted by an average annual rate of -1.2% over the period from 2012-2022. In the other countries, the average annual rates were as follows: the United States (+2.2% per year) and India (-1.3% per year).

In value terms, China ($2.5B) led the market, alone. The second position in the ranking was held by Japan ($959M). It was followed by the United States.

From 2012 to 2022, the average annual rate of growth in terms of value in China stood at -2.6%. The remaining consuming countries recorded the following average annual rates of market growth: Japan (+1.6% per year) and the United States (+2.6% per year).

The countries with the highest levels of composite paperboard per capita consumption in 2022 were the Netherlands (13 kg per person), Belgium (8.2 kg per person) and South Korea (2 kg per person).

From 2012 to 2022, the biggest increases were recorded for the Netherlands (with a CAGR of +11.6%), while consumption for the other global leaders experienced more modest paces of growth.

Production

World Production of Composite Paper And Paperboard

In 2022, after three years of growth, there was decline in production of composite paper and paperboard, when its volume decreased by -1.2% to 4.8M tons. In general, production showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2019 with an increase of 4.4%. Global production peaked at 5M tons in 2013; however, from 2014 to 2022, production failed to regain momentum.

In value terms, composite paperboard production shrank modestly to $8.5B in 2022 estimated in export price. Overall, production continues to indicate a mild shrinkage. The pace of growth was the most pronounced in 2021 when the production volume increased by 11%. Over the period under review, global production hit record highs at $9.5B in 2013; however, from 2014 to 2022, production remained at a lower figure.

Production By Country

The countries with the highest volumes of production in 2022 were China (1M tons), the Netherlands (587K tons) and the United States (458K tons), together accounting for 43% of global production. India, Germany, Japan, Russia, Indonesia, Brazil, South Korea, Spain, Canada and Democratic Republic of the Congo lagged somewhat behind, together comprising a further 36%.

From 2012 to 2022, the most notable rate of growth in terms of production, amongst the key producing countries, was attained by Canada (with a CAGR of +3.6%), while production for the other global leaders experienced more modest paces of growth.

Imports

World Imports of Composite Paper And Paperboard

Global composite paperboard imports contracted slightly to 802K tons in 2022, waning by -3.1% against 2021. Over the period under review, imports, however, showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 with an increase of 8.8%. Global imports peaked at 882K tons in 2018; however, from 2019 to 2022, imports stood at a somewhat lower figure.

In value terms, composite paperboard imports skyrocketed to $979M in 2022. The total import value increased at an average annual rate of +3.0% from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2021 when imports increased by 23% against the previous year. Global imports peaked in 2022 and are likely to continue growth in years to come.

Imports By Country

The countries with the highest levels of composite paperboard imports in 2022 were Belgium (99K tons), the United States (96K tons) and the UK (87K tons), together reaching 35% of total import. Poland (54K tons) took the next position in the ranking, followed by Germany (41K tons). All these countries together held approx. 12% share of total imports. France (35K tons), Italy (32K tons), Spain (31K tons), the Czech Republic (22K tons), Mexico (22K tons), Portugal (17K tons), Sweden (14K tons) and Turkey (14K tons) took a relatively small share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the key importing countries, was attained by Portugal (with a CAGR of +8.4%), while imports for the other global leaders experienced more modest paces of growth.

In value terms, the largest composite paperboard importing markets worldwide were the United States ($117M), Belgium ($99M) and the UK ($84M), with a combined 31% share of global imports. Germany, Poland, France, Italy, Mexico, Spain, the Czech Republic, Sweden, Portugal and Turkey lagged somewhat behind, together accounting for a further 36%.

Portugal, with a CAGR of +11.1%, recorded the highest growth rate of the value of imports, in terms of the main importing countries over the period under review, while purchases for the other global leaders experienced more modest paces of growth.

Import Prices By Country

The average composite paperboard import price stood at $1,220 per ton in 2022, with an increase of 25% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +2.6%. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Sweden ($1,818 per ton), while the UK ($963 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Czech Republic (+5.2%), while the other global leaders experienced more modest paces of growth.

Exports

World Exports of Composite Paper And Paperboard

Global composite paperboard exports declined significantly to 759K tons in 2022, falling by -20.1% compared with 2021 figures. Overall, exports showed a pronounced reduction. The pace of growth was the most pronounced in 2021 with an increase of 8.5% against the previous year. The global exports peaked at 999K tons in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

In value terms, composite paperboard exports expanded to $898M in 2022. In general, exports recorded a relatively flat trend pattern. The growth pace was the most rapid in 2021 with an increase of 22% against the previous year. The global exports peaked at $936M in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

Exports By Country

The Netherlands represented the main exporting country with an export of about 367K tons, which recorded 48% of total exports. It was distantly followed by Germany (117K tons), the United States (43K tons) and Italy (41K tons), together committing a 26% share of total exports. Spain (28K tons), Canada (17K tons), France (17K tons), Finland (16K tons), Poland (15K tons) and Sweden (13K tons) followed a long way behind the leaders.

From 2012 to 2022, average annual rates of growth with regard to composite paperboard exports from the Netherlands stood at -3.5%. At the same time, Poland (+9.1%) and France (+1.5%) displayed positive paces of growth. Moreover, Poland emerged as the fastest-growing exporter exported in the world, with a CAGR of +9.1% from 2012-2022. The United States, Germany and Italy experienced a relatively flat trend pattern. By contrast, Sweden (-1.8%), Canada (-2.9%), Finland (-2.9%) and Spain (-5.5%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Germany and the United States increased by +4 and +1.7 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the Netherlands ($329M) remains the largest composite paperboard supplier worldwide, comprising 37% of global exports. The second position in the ranking was taken by Germany ($145M), with a 16% share of global exports. It was followed by the United States, with a 6.7% share.

From 2012 to 2022, the average annual growth rate of value in the Netherlands totaled -1.4%. In the other countries, the average annual rates were as follows: Germany (+3.0% per year) and the United States (+2.3% per year).

Export Prices By Country

In 2022, the average composite paperboard export price amounted to $1,184 per ton, increasing by 30% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +2.4%. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Sweden ($2,738 per ton), while the Netherlands ($898 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Poland (+9.3%), while the other global leaders experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform