How Has COVID Affected Folding Cartons?
Data from Smithers show the global folding carton packaging market will reach $136.7 billion; with a total of 49.27 million tonnes consumed worldwide in 2021.
Analysis from the Smithers report The Future of Folding Cartons to 2026 indicates that this is the beginning of a rebound from the market slowdown in 2020, as the Covid-19 pandemic had a marked effect on many end-use applications.
Smithers forecasts a future compound annual growth rate of (CAGR) 4.7% through to 2026, pushing market value to $172.0 billion in that year. The volume consumption will largely follow this with a mean CAGR of 4.6% for 2021-2026 across the 30 national and regional markets the study tracks, with production volumes reaching 61.58 million tonnes in 2026.
Across 2021-2026, the value of cartonboard sales to converters will rise from $46.23 billion to $58.50 billion. Despite a slight drop in market share for recycled grades between 2016 and 2019, due largely to mill closures in China and the UK, these grades are gradually gaining share of the market over the medium term, mainly at the expense of folding boxboard (FBB).
As this happens, there will be more interest in use of coated recycled board (CRB) and white-lined chipboard (WLC), but the fastest rise in demand will be for uncoated recycled board (URB).
There will also be interest in microflute (E) and miniflute (F-N) constructions, including new designs that enable effective protection with a smaller volume of material for e-commerce deliveries.
TAPPI is a co-sponsor of Smithers' upcoming Specialty Papers Europe 2021, taking place in Amsterdam, 28-29 September 2021. Specialty Papers Europe provides a unique opportunity for senior decision makers to get together to share the latest industry updates, as well as network with key global experts and develop valuable connections with colleagues and customers.
TAPPI members can use discount code SPEU21TAP at the checkout to get an extra 10% off the cost of registration.