The revenue of the corrugated paper market in Spain amounted to $635M in 2018, flattening at the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers’ margins, which will be included in the final consumer price). Overall, corrugated paper consumption continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2011 when the market value increased by 14% year-to-year. In that year, the corrugated paper market reached its peak level of $806M. From 2012 to 2018, the growth of the corrugated paper market remained at a lower figure.

Production in Spain

In 2018, the amount of corrugated paper and paperboard produced in Spain amounted to 947K tonnes, approximately reflecting the previous year. The total output volume increased at an average annual rate of +3.6% over the period from 2008 to 2018; however, the trend pattern indicated some noticeable fluctuations being recorded over the period under review. The most prominent rate of growth was recorded in 2017 when production volume increased by 14% against the previous year. Over the period under review, corrugated paper production reached its maximum volume in 2018 and is expected to retain its growth in the near future.

In value terms, corrugated paper production totaled $624M in 2018 estimated in export prices. Overall, corrugated paper production continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2010 when production volume increased by 15% against the previous year. Corrugated paper production peaked at $832M in 2011; however, from 2012 to 2018, production failed to regain its momentum.

Exports from Spain

In 2018, the corrugated paper exports from Spain stood at 22K tonnes, going up by 40% against the previous year. Overall, corrugated paper exports, however, continue to indicate a pronounced contraction. The pace of growth was the most pronounced in 2018 when exports increased by 40% against the previous year. Over the period under review, corrugated paper exports attained their peak figure at 32K tonnes in 2008; however, from 2009 to 2018, exports failed to regain their momentum.

In value terms, corrugated paper exports amounted to $23M (IndexBox estimates) in 2018. Over the period under review, corrugated paper exports, however, continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 when exports increased by 40% year-to-year. Over the period under review, corrugated paper exports reached their peak figure at $25M in 2008; however, from 2009 to 2018, exports failed to regain their momentum.

Exports by Country

France (11K tonnes), Saudi Arabia (6.5K tonnes) and Portugal (3.6K tonnes) were the main destinations of corrugated paper exports from Spain, with a combined 97% share of total exports.

From 2008 to 2018, the most notable rate of growth in terms of exports, amongst the main countries of destination, was attained by Saudi Arabia, while the other leaders experienced mixed trend patterns.

In value terms, France ($9.1M), Saudi Arabia ($7.9M) and Portugal ($2.3M) constituted the largest markets for corrugated paper exported from Spain worldwide, together accounting for 82% of total exports.

Portugal recorded the highest growth rate of exports, in terms of the main countries of destination over the last decade, while the other leaders experienced more modest paces of growth.

Export Prices by Country

The average corrugated paper export price stood at $1,045 per tonne in 2018, approximately mirroring the previous year. Over the last decade, it increased at an average annual rate of +3.1%. The pace of growth was the most pronounced in 2011 an increase of 36% year-to-year. The export price peaked at $1,202 per tonne in 2015; however, from 2016 to 2018, export prices failed to regain their momentum.

Prices varied noticeably by the country of destination; the country with the highest price was Saudi Arabia ($1,209 per tonne), while the average price for exports to Portugal ($631 per tonne) was amongst the lowest.

From 2008 to 2018, the most notable rate of growth in terms of prices was recorded for supplies to Mauritania, while the prices for the other major destinations experienced mixed trend patterns.

Imports into Spain

In 2018, the imports of corrugated paper and paperboard into Spain stood at 5.6K tonnes, falling by -3.8% against the previous year. Over the period under review, the total imports indicated a mild increase from 2008 to 2018: its volume increased at an average annual rate of +1.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2018 figures, corrugated paper imports increased by +114.3% against 2016 indices. The growth pace was the most rapid in 2017 with an increase of 123% year-to-year. Over the period under review, corrugated paper imports reached their peak figure at 7.1K tonnes in 2011; however, from 2012 to 2018, imports remained at a lower figure.

In value terms, corrugated paper imports amounted to $6.4M (IndexBox estimates) in 2018. Overall, corrugated paper imports, however, continue to indicate a notable increase. The growth pace was the most rapid in 2017 with an increase of 140% y-o-y. In that year, corrugated paper imports attained their peak of $7.3M, and then declined slightly in the following year.

Imports by Country

Germany (1.8K tonnes), France (1.4K tonnes) and Italy (1.1K tonnes) were the main suppliers of corrugated paper imports to Spain, with a combined 78% share of total imports. Slovenia, Portugal, China and the UK lagged somewhat behind, together accounting for a further 24%.

From 2008 to 2018, the most notable rate of growth in terms of imports, amongst the main suppliers, was attained by Slovenia, while the other leaders experienced more modest paces of growth.

In value terms, the largest corrugated paper suppliers to Spain were Germany ($2.7M), France ($1.7M) and Italy ($1.3M), together comprising 87% of total imports. Slovenia, Portugal, China, and the UK lagged somewhat behind, together comprising a further 24%.

Among the main suppliers, Slovenia experienced the highest growth rate of imports, over the last decade, while the other leaders experienced more modest paces of growth.

Import Prices by Country

The average corrugated paper import price stood at $1,144 per tonne in 2018, coming down by -8.3% against the previous year. Overall, the import price indicated a slight increase from 2008 to 2018: its price increased at an average annual rate of +1.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2010 when the average import price increased by 26% against the previous year. Over the period under review, the average import prices for corrugated paper and paperboard attained their peak figure at $1,248 per tonne in 2017, and then declined slightly in the following year.

Prices varied noticeably by the country of origin; the country with the highest price was the UK ($1,536 per tonne), while the price for Slovenia ($900 per tonne) was amongst the lowest.

From 2008 to 2018, the most notable rate of growth in terms of prices was attained by Germany, while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox AI Platform