Southern Asia: Corrugated Paper Box Market 2024

Corrugated Paper Box Market Size in Southern Asia

The South Asian corrugated paper box market contracted modestly to $X in 2022, with a decrease of -2.5% against the previous year. The total consumption indicated tangible growth from 2012 to 2022: its value increased at an average annual rate of +4.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +2.5% against 2020 indices. Over the period under review, the market reached the peak level at $X in 2018; however, from 2019 to 2022, consumption remained at a lower figure.

Corrugated Paper Box Production in Southern Asia

In value terms, corrugated paper box production declined to $X in 2022 estimated in export price. The total production indicated temperate growth from 2012 to 2022: its value increased at an average annual rate of +4.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production increased by +3.1% against 2020 indices. The pace of growth appeared the most rapid in 2013 when the production volume increased by 27%. Over the period under review, production reached the peak level at $X in 2018; however, from 2019 to 2022, production stood at a somewhat lower figure.

Corrugated Paper Box Exports

Exports in Southern Asia

In 2022, approx. X tons of cartons, boxes and cases of corrugated paper or paperboard were exported in Southern Asia; growing by 26% against 2021 figures. Total exports indicated a prominent increase from 2012 to 2022: its volume increased at an average annual rate of +5.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +48.7% against 2020 indices. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, corrugated paper box exports skyrocketed to $X in 2022. Total exports indicated a prominent increase from 2012 to 2022: its value increased at an average annual rate of +7.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +61.4% against 2020 indices. The growth pace was the most rapid in 2013 when exports increased by 42% against the previous year. Over the period under review, the exports reached the peak figure in 2022 and are expected to retain growth in years to come.

Exports by Country

India dominates exports structure, finishing at X tons, which was approx. 82% of total exports in 2022. It was distantly followed by Sri Lanka (X tons) and Pakistan (X tons), together generating a 17% share of total exports.

Exports from India increased at an average annual rate of +4.6% from 2012 to 2022. At the same time, Sri Lanka (+10.6%) and Pakistan (+10.4%) displayed positive paces of growth. Moreover, Sri Lanka emerged as the fastest-growing exporter exported in Southern Asia, with a CAGR of +10.6% from 2012-2022. Sri Lanka (+3.4 p.p.) and Pakistan (+3.1 p.p.) significantly strengthened its position in terms of the total exports, while India saw its share reduced by -6.7% from 2012 to 2022, respectively.

In value terms, India ($X) remains the largest corrugated paper box supplier in Southern Asia, comprising 79% of total exports. The second position in the ranking was held by Sri Lanka ($X), with a 13% share of total exports.

In India, corrugated paper box exports expanded at an average annual rate of +6.5% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Sri Lanka (+9.9% per year) and Pakistan (+8.2% per year).

Export Prices by Country

In 2022, the export price in Southern Asia amounted to $X per ton, shrinking by -1.8% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +1.5%. The most prominent rate of growth was recorded in 2013 when the export price increased by 30%. As a result, the export price reached the peak level of $X per ton. From 2014 to 2022, the export prices remained at a lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Sri Lanka ($X per ton), while Pakistan ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by India (+1.8%), while the other leaders experienced a decline in the export price figures.

Corrugated Paper Box Imports

Imports in Southern Asia

Corrugated paper box imports shrank remarkably to X tons in 2022, waning by -15.4% compared with the year before. In general, imports saw a mild contraction. The growth pace was the most rapid in 2021 with an increase of 44% against the previous year. The volume of import peaked at X tons in 2018; however, from 2019 to 2022, imports remained at a lower figure.

In value terms, corrugated paper box imports dropped to $X in 2022. Total imports indicated a tangible increase from 2012 to 2022: its value increased at an average annual rate of +4.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +43.2% against 2020 indices. The most prominent rate of growth was recorded in 2021 with an increase of 64% against the previous year. As a result, imports reached the peak of $X, and then declined in the following year.

Imports by Country

In 2022, India (X tons) and Bangladesh (X tons) were the largest importers of cartons, boxes and cases of corrugated paper or paperboard in Southern Asia, together reaching near 65% of total imports. Pakistan (X tons) ranks next in terms of the total imports with an 11% share, followed by Sri Lanka (7.9%) and Nepal (7.4%). The following importers - Afghanistan (X tons) and Maldives (X tons) - together made up 6.5% of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main importing countries, was attained by Maldives (with a CAGR of +7.5%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest corrugated paper box importing markets in Southern Asia were India ($X), Bangladesh ($X) and Sri Lanka ($X), together accounting for 81% of total imports.

India, with a CAGR of +7.5%, recorded the highest rates of growth with regard to the value of imports, in terms of the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the import price in Southern Asia amounted to $X per ton, increasing by 3.5% against the previous year. Import price indicated a prominent expansion from 2012 to 2022: its price increased at an average annual rate of +6.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, corrugated paper box import price increased by +60.3% against 2016 indices. The pace of growth appeared the most rapid in 2014 when the import price increased by 19%. The level of import peaked in 2022 and is likely to see gradual growth in years to come.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Sri Lanka ($X per ton), while Nepal ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Bangladesh (+8.5%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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