Russian and Indian Suppliers Scale Up Packaging Paper Exports to China
IndexBox has just published a new report: ‘China – Wrapping Papers – Market Analysis, Forecast, Size, Trends and Insights’. Here is a summary of the report’s key findings.
China’s imports of wrapping paper, packaging paper and paperboard reached the highest level ever, picking up by +54% to 892K tonnes in 2020. Russia, India and Viet Nam constitute the largest suppliers to China. Last year, Russia and India boosted their exports to China threefold, while Viet Nam saw a 58%-spike in terms of volume of exported products to China. In 2020, the average wrapping paper import price dropped by -24.1% y-o-y.
Imports into China
In 2020, the amount of wrapping paper, packaging paper and paperboard imported into China surged to 892K tonnes, jumping by +54% on the previous year. In value terms, wrapping papers imports skyrocketed by +17.1% y-o-y to $627M (IndexBox estimates) in 2020.
The total imports of wrapping paper, packaging paper and paperboard to China grew from 350K tonnes in 2010 to 892K tonnes in 2020. Over the last decade, India recorded the most prominent growth rate of exports to China. India broke into the Chinese market and became the second-largest supplier, ramping up the supplies to China from 16K tonnes in 2017 to 100K tonnes in 2020.
Russia (125K tonnes), India (100K tonnes) and Viet Nam (77K tonnes) were the main suppliers of wrapping papers imports to China, together accounting for 34% of total imports. Canada, Japan, the U.S., Sweden, South Korea, Taiwan (Chinese), Brazil, Indonesia, Malaysia and Thailand lagged somewhat behind, together comprising a further 52%.
In 2020, Brazil featured the highest growth rate in terms of volume of supplies to China. Over the last year, Chinese purchases from Brazil increased from 7K tonnes to 42K tonnes.
Russia and India boosted their supplies to China threefold. Russia increased its exports to China from 41K tonnes in 2019 to 125K tonnes in 2020, while India ramped up its supplies to China from 34K tonnes to 100K tonnes over this period. Viet Nam increased its exports to China by half from 49K tonnes in 2019.
In value terms, Russia ($75M), Japan ($68M) and the U.S. ($58M) appeared to be the largest wrapping papers suppliers to China, together comprising 32% of total imports. Sweden, Taiwan (Chinese), Canada, South Korea, India, Viet Nam, Brazil, Indonesia, Malaysia and Thailand lagged somewhat behind, together comprising a further 47%.
In 2020, the average wrapping papers import price amounted to $703 per tonne, dropping by -24.1% against the previous year. There were significant differences in the average prices amongst the major supplying countries. In 2020, the country with the highest price was Japan ($981 per tonne), while the price for India ($323 per tonne) was amongst the lowest. In 2020, the most notable rate of growth in terms of prices was attained by Taiwan (Chinese), while the prices for the other major suppliers experienced a decline.
Source: IndexBox Platform