El corrugated board y paperboard industry is growing, and the folding carton market will reach $12.8 billion in the future.
It is expected that by 2022, the demand for folding cartons will grow at a rate of 3.9% per year, reaching $12.8 billion.
In 2018, the Trump administration imposed a 10% tariff on folding cardboard boxes exported from China, and plans to increase it to 25% by January 1, 2019.
However, in December 2018, China and the United States agreed to temporarily suspend tariff increases.
A new study found that the corrugated and paperboard sector is showing a growing trend, and if tariffs continue to rise as planned, it will lead to increased domestic production capacity and a faster transition to flexible packaging.
Although US folding cartons account for 5% of 2017 demand, there is still a trade deficit in this area. China’s low production costs offset shipping costs and is the second largest supplier of folding cartons in the US. Classified by value, Canada has half of the total imported folding cartons due to its geographical proximity and abundant forestry resources, as well as its own processing facilities.
Regardless of quantity or value, China is the second largest supplier of folding cartons in the United States because China’s low production costs offset shipping costs. Corrugated boxes and cardboard boxes will reach 42.5 billion US dollars, small and fast-growing e-commerce contribution 16%.
Demand for all types of corrugated boxes and cardboard boxes is expected to grow at a rate of 2.6% per year by 2022, reaching $42.5 billion (about 287 billion yuan). Half of the demand comes from the large catering market, while the small and fast-growing e-commerce sector contributes 16% of carton sales.
We are versatile in the production of folding cartons, printed corrugated boxes, rigid cardboard boxes. Should you have any paper packaging demanding, please contact chiefcolor sales team for more news and information at info@chiefcolor.com
