Asia-Pacific: Corrugated Paper Market 2025

Corrugated Paper Market Size in Asia-Pacific

In 2021, after four years of growth, there was significant decline in the Asia-Pacific corrugated paper market, when its value decreased by -6.1% to $X. In general, consumption continues to indicate a perceptible contraction. 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-Pacific

In value terms, corrugated paper production declined to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +2.1% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2017 when the production volume increased by 15% against the previous year. The level of production peaked at $X in 2020, and then contracted slightly in the following year.

Corrugated Paper Exports

Exports in Asia-Pacific

In 2021, shipments abroad of corrugated paper and paperboard increased by 16% to X tons, rising for the second consecutive year after four years of decline. In general, exports, however, recorded a noticeable contraction. Over the period under review, the exports attained the peak figure 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. Total exports indicated tangible growth from 2012 to 2021: its value increased at an average annual rate of +2.8% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +66.7% against 2018 indices. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

China represented the largest exporter of corrugated paper and paperboard in Asia-Pacific, with the volume of exports accounting for X tons, which was near 38% of total exports in 2021. Singapore (X tons) ranks second in terms of the total exports with a 20% share, followed by Malaysia (16%), Vietnam (8%) and Thailand (7.4%). The following exporters - Japan (X tons) and Taiwan (Chinese) (X tons) - together made up 6.8% of total exports.

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, China ($X) remains the largest corrugated paper supplier in Asia-Pacific, comprising 67% of total exports. The second position in the ranking was taken by Vietnam ($X), with a 6.4% share of total exports. It was followed by Malaysia, with a 6.3% share.

From 2012 to 2021, the average annual rate of growth in terms of value in China stood at +4.4%. In the other countries, the average annual rates were as follows: Vietnam (+31.9% per year) and Malaysia (-7.3% per year).

Export Prices by Country

The export price in Asia-Pacific stood at $X per ton in 2021, picking up by 6.6% against the previous year. Export price indicated a buoyant expansion from 2012 to 2021: its price increased at an average annual rate of +5.5% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, corrugated paper export price increased by +64.3% against 2018 indices. The pace of growth was the most pronounced in 2019 an increase of 40% against the previous year. Over the period under review, the export prices attained the peak figure in 2021 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 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-Pacific

In 2021, supplies from abroad of corrugated paper and paperboard increased by 44% to X tons, rising for the second year in a row after two years of decline. In general, imports enjoyed a prominent expansion. The pace of growth was the most pronounced in 2017 when imports increased by 141% against the previous year. The volume of import peaked in 2021 and is likely to see steady growth in the near future.

In value terms, corrugated paper imports surged to $X in 2021. Over the period under review, imports posted a prominent expansion. The most prominent rate of growth was recorded in 2017 when imports increased by 90% against the previous year. Over the period under review, imports attained the maximum in 2021 and are expected to retain growth in the near future.

Imports by Country

China was the largest importing country with an import of around X tons, which reached 55% of total imports. Singapore (X tons) took a 15% share (based on physical terms) of total imports, which put it in second place, followed by Vietnam (5.7%). Hong Kong SAR (X tons), the Philippines (X tons), Papua New Guinea (X tons), Indonesia (X tons), Taiwan (Chinese) (X tons), Malaysia (X tons) and Cambodia (X tons) followed a long way behind the leaders.

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%), Papua New Guinea (+23.7%), Taiwan (Chinese) (+14.7%), Vietnam (+10.3%), Hong Kong SAR (+5.8%) and Indonesia (+1.1%) displayed positive paces of growth. The Philippines experienced a relatively flat trend pattern. By contrast, Singapore (-3.1%) and Malaysia (-4.6%) illustrated a downward trend over the same period. While the share of China (+52 p.p.), Papua New Guinea (+2 p.p.) and Cambodia (+1.6 p.p.) increased significantly in terms of the total imports from 2012-2021, the share of Indonesia (-2.2 p.p.), the Philippines (-3.9 p.p.), Malaysia (-4.7 p.p.) and Singapore (-28.3 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) constitutes the largest market for imported corrugated paper and paperboard in Asia-Pacific, comprising 36% of total imports. The second position in the ranking was taken by Singapore ($X), with a 12% share of total imports. It was followed by Vietnam, with a 9.8% share.

From 2012 to 2021, the average annual growth rate of value in China totaled +34.5%. The remaining importing countries recorded the following average annual rates of imports growth: Singapore (-3.7% per year) and Vietnam (+18.3% per year).

Import Prices by Country

The import price in Asia-Pacific stood at $X per ton in 2021, growing by 4.1% against the previous year. In general, the import price, however, showed a mild shrinkage. The pace of growth appeared the most rapid in 2019 an increase of 13%. Over the period under review, import prices attained the maximum at $X per ton in 2015; however, from 2016 to 2021, import prices stood at a somewhat lower figure.

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 Papua New Guinea (+11.2%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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