World corrugated packaging market returns to growth trajectory (smithers.com)

Smithers anticipates major changes as $231.7 billion world corrugated packaging market returns to growth trajectory.

Global containerboard and corrugated board demand are facing a series of challenges and shifts in market dynamics across the next five years. These are expertly profiled, and quantified in the new market data report – The Future of Global Corrugated Packaging to 2029 – from Smithers.

Published today, its in-depth analysis of capacity changes, pulp pricing, and end-user demands shows that in 2023, global containerboard production was 183.4 million metric tons, a -4% decline on 2022. These were converted into around 165 million tons of corrugated board, a decrease of more than -7% on 2022; with value reaching $224.4 billion. This reflects the end of the period of disruption in world supply that began in 2020 with Covid-19, which was characterized by disruption to global logistics impacting demand, price fluctuations leading to high inventories, and subsequent destocking.

Smithers is now able to forecast slight growth across 2024, with value increasing to $231.7 billion. This will be followed by a broader recovery in world demand at an average annual growth (AGR) of +2.5% by volume. This will see world corrugated volumes reach 190 million tons in 2029; value in the market will increase at a +3.7% AGR to $277.6 billion, at constant prices.
more at: https://www.smithers.com/resources/2024/may/world-corrugated-packaging-market-returns-to-growt#:~:text=Smithers%20is%20now%20able%20to,of%20%2B2.5%25%20by%20volume.

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