Asia: Corrugated Paper Market 2025

Corrugated Paper Market Size in Asia

In 2021, the Asian corrugated paper market increased by 0.2% to $X, rising for the sixth year in a row after three years of decline. Over the period under review, consumption recorded a relatively flat trend pattern. The level of consumption peaked at $X in 2012; however, from 2013 to 2021, consumption stood at a somewhat lower figure.

Corrugated Paper Production in Asia

In value terms, corrugated paper production rose notably to $X in 2021 estimated in export price. The total production indicated a measured increase from 2012 to 2021: its value increased at an average annual rate of +4.4% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production decreased by -6.3% against 2019 indices. The pace of growth was the most pronounced in 2018 when the production volume increased by 28%. The level of production peaked at $X in 2019; however, from 2020 to 2021, production failed to regain momentum.

Corrugated Paper Exports

Exports in Asia

In 2021, shipments abroad of corrugated paper and paperboard increased by 17% to X tons, rising for the second year in a row after two years of decline. Overall, exports, however, continue to indicate a perceptible slump. Over the period under review, the exports hit record highs at X tons in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

In value terms, corrugated paper exports skyrocketed to $X in 2021. The total export value increased at an average annual rate of +2.7% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

China was the largest exporting country with an export of around X tons, which resulted at 32% of total exports. It was distantly followed by Singapore (X tons), Malaysia (X tons), Vietnam (X tons) and Thailand (X tons), together committing a 44% share of total exports. The United Arab Emirates (X tons), Japan (X tons), Bahrain (X tons), Saudi Arabia (X tons), Turkey (X tons) and Taiwan (Chinese) (X tons) held a little share of total exports.

From 2012 to 2021, the biggest increases were recorded for Bahrain (with a CAGR of +62.9%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, China ($X) remains the largest corrugated paper supplier in Asia, comprising 61% of total exports. The second position in the ranking was taken by Vietnam ($X), with a 5.8% share of total exports. It was followed by Malaysia, with a 5.7% share.

In China, corrugated paper exports increased at an average annual rate of +4.4% over the period from 2012-2021. The remaining exporting countries recorded the following average annual rates of exports growth: Vietnam (+31.9% per year) and Malaysia (-7.3% per year).

Export Prices by Country

In 2021, the export price in Asia amounted to $X per ton, surging by 8% against the previous year. Export price indicated a resilient increase from 2012 to 2021: its price increased at an average annual rate of +5.1% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, corrugated paper export price increased by +58.1% against 2017 indices. The growth pace was the most rapid in 2019 an increase of 33%. The level of export peaked in 2021 and is expected to retain growth in the near future.

There were significant differences in the average prices amongst the major exporting countries. In 2021, amid the top suppliers, the country with the highest price was China ($X per ton), while Singapore ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Japan (+8.2%), while the other leaders experienced more modest paces of growth.

Corrugated Paper Imports

Imports in Asia

In 2021, overseas purchases of corrugated paper and paperboard increased by 40% to X tons, rising for the second consecutive year after two years of decline. In general, imports saw a strong expansion. The most prominent rate of growth was recorded in 2017 when imports increased by 131%. Over the period under review, imports attained the peak figure in 2021 and are expected to retain growth in years to come.

In value terms, corrugated paper imports soared to $X in 2021. Total imports indicated moderate growth from 2012 to 2021: its value increased at an average annual rate of +4.6% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +69.6% against 2019 indices. The pace of growth appeared the most rapid in 2017 when imports increased by 74% against the previous year. Over the period under review, imports hit record highs in 2021 and are expected to retain growth in the near future.

Imports by Country

China represented the key importing country with an import of around X tons, which amounted to 53% of total imports. It was distantly followed by Singapore (X tons) and Vietnam (X tons), together comprising a 20% share of total imports. Hong Kong SAR (X tons), the Philippines (X tons), Saudi Arabia (X tons), Indonesia (X tons), the United Arab Emirates (X tons), Taiwan (Chinese) (X tons), Malaysia (X tons) and Cambodia (X tons) held a little share of total imports.

China was also the fastest-growing in terms of the corrugated paper and paperboard imports, with a CAGR of +56.0% from 2012 to 2021. At the same time, Cambodia (+46.2%), Taiwan (Chinese) (+14.7%), Vietnam (+10.3%), Hong Kong SAR (+5.8%), the United Arab Emirates (+2.1%) and Indonesia (+1.1%) displayed positive paces of growth. The Philippines experienced a relatively flat trend pattern. By contrast, Singapore (-3.1%), Malaysia (-4.6%) and Saudi Arabia (-10.1%) illustrated a downward trend over the same period. From 2012 to 2021, the share of China and Cambodia increased by +51 and +1.6 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) constitutes the largest market for imported corrugated paper and paperboard in Asia, comprising 35% of total imports. The second position in the ranking was held by Singapore ($X), with an 11% share of total imports. It was followed by Vietnam, with a 9.5% share.

In China, corrugated paper imports increased at an average annual rate of +34.5% over the period from 2012-2021. In the other countries, the average annual rates were as follows: Singapore (-3.7% per year) and Vietnam (+18.3% per year).

Import Prices by Country

In 2021, the import price in Asia amounted to $X per ton, surging by 2.7% against the previous year. In general, the import price, however, saw a noticeable setback. The growth pace was the most rapid in 2018 when the import price increased by 12% against the previous year. Over the period under review, import prices hit record highs at $X per ton in 2014; however, from 2015 to 2021, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major importing countries. In 2021, amid the top importers, the country with the highest price was Indonesia ($X per ton), while China ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Hong Kong SAR (+7.5%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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