Carton Boards Market Intelligence


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COVID 19 impact on Carton Boards market

  • In LATAM, boxboard prices expected to increase in Q2’20 due to price hike announcement from players and increase in demand due to COVID-19.Despite the outbreak of COVID’19 globally, boxboard mills are still operational so far with precautionary measures taken for their employees
  • In China, the demand for boxboard is soft as the challenges largely lie in delivering their finished products to clients due to COVID-19 in Feb’20

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Are you looking for answers on Carton Boards category?

Are you looking for answers on Carton Boards category?

  • What are the key trends in Carton Boards category?
  • Am I paying the right price?
  • Am I working with the right supplier?
  • What are the major challenges and risks in Carton Boards industry?
  • How is Carton Boards industry performing?

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Report Coverage

  • Global Capacity–Demand Analysis
  • Global Trade Dynamics
  • Regional Market Snapshot-North America, Europe, Asia
  • Cost Structure Analysis

Table of contents

  1. Carton Boards Executive Summary
  2. Global Cartonboard Market Outlook
  3. Global Cartonboard Producers’ Market Share by Capacity
  4. Virgin and Recycled Cartonboard Capacity by Region
  5. Major Product Trends and Innovations
  1. Carton Boards Market Analysis
  2. Global Cartonboard Market Analysis
  3. North America Cartonboard Market Analysis
  4. Europe Cartonboard Market Analysis
  5. Asia Cartonboard Market Analysis
  6. Latin America Cartonboard Market Analysis
  7. Porter’s Five Forces Analysis
  1. Carton Boards Supplier Analysis
  2. Key Global Supplier Profile
  3. Key Regional Supplier Profile
  1. Carton Boards Cost Structure Analysis
  2. Regional Cost Structure of Cartonboard
  1. Carton Boards Innovations in Cartonboard
  2. Technological Developments in Carton Packaging
  3. Technological Innovation
  4. Board Innovation
  5. Design Trends
  6. Bio-based Packaging
  1. Carton Boards Procurement Best Practices
  2. Common Procurement Pattern
  3. Contract & Payment Terms
  4. Contract Negotiation
  5. Engagement Models
  6. Integrated Plants - Risk in Value Chain
  7. Sheet Feeders - Risk in Value Chain
  8. Sheet Convertors - Risk in Value Chain
  9. Procurement Insight
  10. Supplier Evaluation

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Global Carton Boards Market Outlook 

  • The cartonboard market will be influenced by the growth in emerging regions like Asia and Latin America, which is expected to grow around 4-5 percent between 2017 and 2020
  • The demand for cartonboard and folding carton is rising because of increasing demand for processed food, health care products, beverage, CPG, frozen/chilled foods, especially in the emerging economies and it is expected to be same in the future
  • North America and Western Europe are well matured regions, showcasing lower growth rates of 1–2 percent, characterized by slow moving demand, closure of mills and more consolidation
  • The carton boards demand by end-user industry: Healthcare-10%, Tobacco-8%, Household Care-7%, Hardware and Electrical-7%, Dry Foods-6%, Others-62%.
  • Impactful cost components for carton board: Raw material (which includes both pulp or OCC and chemicals) is a major component that accounts for 65–75 percent of the total production cost.
  • Top Global Carton Board Suppliers (2019E): Asia Pulp and Paper | Nine Dragons | WestRock | Graphic Packaging* | Stora Enso.
  • Key Index for carton board prices Determination: AF&PA, RISI, EUWID, and Foex.
  • Carton board Market Overview (2019E): Global Capacity: 74.21 MMT and Global Demand: 62.43 MMT.


 Global Carton Boards Market Overview

  • The global cartonboard demand is expected to increase at a CAGR of 2-3 percent until 2019
  • Asia is driving the demand for cartonboard and is the region with huge growth opportunities. Asia's market share is close to 50 percent, with China accounting for over 50 percent of the Asian consumption
  • The major trends that are driving the growth of cartonboard worldwide are consolidation and automation. Some of the large cartonboard manufacturers, including WestRock and Graphic Packaging, have adopted robotics for automating the process of manufacturing, printing, placing heavy goods on the conveyor belt, and shipping the goods
  • Carton boards can be replaced by plastics, aluminum cans, and corrugated board in the F&B sector. However, with the lightweight, positive sustainability implications, and attractive packaging at the end use segments, the threat of substitution for cartons is minimal.
  • While North America, Latin America and Europe are consolidated carton boards markets, East Asian markets are highly fragmented, and hence the level of competition is intense.
  • Buyer power (converters and end-users) is reduced when carton board manufacturers pass the price on to the buyers, based on the production cost and market demand.
  • The market is fragmented with the top 10 players accounting for only about 30 percent of the market share.
  • As NA and Europe are mature markets with low demand growth rates, there is a lot of opportunity for exports

Global Carton Boards End-use Market

  • The healthcare, food and tobacco end markets are the major driving force for the growth of cartonboard market in future
  • The increasing demand of packaged products among the consumers is driving the consumption of folding cartons
  • Suppliers are focusing on eco-friendly and unique packaging to meet the demand of end-users
  • The confectionery and dry food are facing substitution pressure from plastics. Even then, the carton packaging is not affected due to sustainability

Carton Boards Market Growth Drivers

Rise in Disposable Income

  • Demand for consumer non-durables has a direct bearing on the demand for cartonboard. Demand from the consumer non-durables sector is expected to increase, along with the disposable income. Per capita income is on the rise in developing countries, especially in the BRICS region. Hence, demand for cartonboard in these regions will be driven by an increase in the disposable income


  • A large working population increases the demand for packaged food products, which use cartonboard for packaging. Due to historic population growth projections in emerging markets, and tepid projections in western markets; demand for cartonboard is also expected to increase

Industrial Production

  • The increase in industrial production will raise the demand for packaging. Industrial production in global markets is expected to increase, driven mainly by Asia and Latin America, which will drive the demand for cartonboard

Ageing Population

  • The demand for pharmaceutical products is expected to rise due to an aging population in western markets. There is also the need for a more sophisticated packaging, which makes handling easy for the elderly, and is child resistant

Health Awareness

  • Cartons are a preferred packaging component for consumers that favor a healthy lifestyle. The cartons are made from renewable resources and is highly adopted in the healthcare and F&B markets.

Raw Material Cost

  • Pulp, which maybe virgin or recovered, is one of the major components in the total cost of cartonboard, as it forms 60–70 percent of the total board cost and has an impact on the price. Price fluctuations for raw materials may differ from market to market
  • Cost of raw materials would be higher for emerging markets such as Asia, as they predominantly import it from the West

Labour Cost

  • Labor cost is another key component for cartonboard pricing, and is low in Asia and LATAM, compared to NA and Europe
  • Labor cost forms a significant portion of the overall price of cartonboard, hence, prices could vary, depending on the regional availability of labor
  • Asian labor costs are expected to increase significantly in future, and this might affect cartonboard/box prices in the long run

Energy and Chemical Cost

  • Energy is a significant driver in determining the final price of the cartonboard. Some companies leverage its financial stability by having its own chemical plant, as an auxiliary to their paper and pulp business
  • Major paper/board mills generate their own sources of energy, however, they also source power from grids
  • Wood pulp mills generate power from the byproduct while producing pulp–black liquor

Demand and Supply Dynamics

  • Supply-demand is one of the key and foremost drivers of price in the cartonboard industry. A significant increase in demand from the end user segment will lead to manufacturers announcing price increases, even without an upward movement in the cost
  • Supply disruptions like down time, mill closures by manufacturers or natural disasters would lead to shortages or a tight supply, attributing to price fluctuation. Similarly, weak demand could lead to price declines
  • Key Drivers: Downtimes, closures, new capacity, order backlogs, lead time

Exachange Rate and Inflation

  • Exchange rates would impact Export and Import prices. Strengthening of the dollar against the domestic currency would have a significant impact on prices within the domestic market
  • Domestic inflation will lead to an upward pressure on prices, such as the situation in Brazil

Why You Should Buy This Report

  • The report provides details on the global and regional carton board market, price drivers, growth drivers, value chain analysis, etc. 
  • It gives the Porter’s five force analysis of the global carton board market, details the supply landscape and gives SWOT analysis of major carton board suppliers like Tembec paperboard, Weyerhaeuser, Clearwater paper, etc. 
  • It gives the cost structure and carton board prices analysis and lists out the major technological trends and innovations in the carton boards industry.

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