ASEAN: Corrugated Paper Market 2024

Corrugated Paper Market Size in ASEAN

The ASEAN corrugated paper market reduced slightly to $X in 2021, approximately equating the previous year. The market value increased at an average annual rate of +2.6% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The level of consumption peaked at $X in 2018; however, from 2019 to 2021, consumption remained at a lower figure.

Corrugated Paper Production in ASEAN

In value terms, corrugated paper production fell modestly to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +2.4% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2017 when the production volume increased by 21% against the previous year. Over the period under review, production hit record highs at $X in 2018; however, from 2019 to 2021, production failed to regain momentum.

Corrugated Paper Exports

Exports in ASEAN

In 2021, shipments abroad of corrugated paper and paperboard was finally on the rise to reach X tons after two years of decline. Over the period under review, exports, however, recorded a noticeable contraction. The pace of growth appeared the most rapid in 2017 with an increase of 58% against the previous year. The volume of export peaked at X tons in 2018; however, from 2019 to 2021, the exports remained at a lower figure.

In value terms, corrugated paper exports soared to $X in 2021. Total exports indicated slight growth from 2012 to 2021: its value increased at an average annual rate of +1.8% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2017 when exports increased by 48%. The level of export peaked at $X in 2018; however, from 2019 to 2021, the exports failed to regain momentum.

Exports by Country

Singapore (X tons) and Malaysia (X tons) represented roughly 68% of total exports in 2021. Vietnam (X tons) took a 15% share (based on physical terms) of total exports, which put it in second place, followed by Thailand (14%).

From 2012 to 2021, the biggest increases were recorded for Vietnam (with a CAGR of +29.7%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Vietnam ($X), Malaysia ($X) and Singapore ($X) appeared to be the countries with the highest levels of exports in 2021, together accounting for 74% of total exports.

Vietnam, with a CAGR of +31.9%, saw the highest rates of growth with regard to the value of exports, among the main exporting countries over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The export price in ASEAN stood at $X per ton in 2021, which is down by -1.7% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +4.1%. The pace of growth appeared the most rapid in 2019 an increase of 18% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2020 to 2021, the export prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Thailand ($X per ton), while Singapore ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Malaysia (+3.1%), while the other leaders experienced more modest paces of growth.

Corrugated Paper Imports

Imports in ASEAN

In 2021, the amount of corrugated paper and paperboard imported in ASEAN soared to X tons, jumping by 59% compared with the previous year's figure. Over the period under review, imports showed a relatively flat trend pattern. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, corrugated paper imports surged to $X in 2021. Overall, imports recorded a mild expansion. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, Singapore (X tons) represented the largest importer of corrugated paper and paperboard, constituting 47% of total imports. Vietnam (X tons) held an 18% share (based on physical terms) of total imports, which put it in second place, followed by the Philippines (11%), Indonesia (7.2%), Malaysia (6.3%) and Cambodia (5.6%). Thailand (X tons) held a minor share of total imports.

From 2012 to 2021, average annual rates of growth with regard to corrugated paper imports into Singapore stood at -3.1%. At the same time, Cambodia (+46.2%), Thailand (+27.6%), Vietnam (+10.3%) and Indonesia (+1.1%) displayed positive paces of growth. Moreover, Cambodia emerged as the fastest-growing importer imported in ASEAN, with a CAGR of +46.2% from 2012-2021. The Philippines experienced a relatively flat trend pattern. By contrast, Malaysia (-4.6%) illustrated a downward trend over the same period. Vietnam (+11 p.p.), Cambodia (+5.4 p.p.) and Thailand (+3.1 p.p.) significantly strengthened its position in terms of the total imports, while Malaysia and Singapore saw its share reduced by -3.5% and -16.6% from 2012 to 2021, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest corrugated paper importing markets in ASEAN were Singapore ($X), Vietnam ($X) and the Philippines ($X), together accounting for 69% of total imports. Indonesia, Malaysia, Cambodia and Thailand lagged somewhat behind, together comprising a further 30%.

In terms of the main importing countries, Cambodia, with a CAGR of +46.6%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The import price in ASEAN stood at $X per ton in 2021, shrinking by -7.1% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +1.7%. The pace of growth appeared the most rapid in 2018 when the import price increased by 12% against the previous year. The level of import peaked at $X per ton in 2020, and then dropped in the following year.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Indonesia ($X per ton), while Singapore ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the Philippines (+7.4%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform