Industry's main listed companies: Mountain Eagle Paper (600567), Jinjia shares (002191), Hexing Packaging (002228), Yu Tong Technology (002831), Meiying Sen (002303), Forest Packaging (605500), Hongxing Printing (00450.
The core data of this article: the number of above-scale paper and paperboard containers manufacturers, paper packaging industry production, paper and paperboard containers manufacturing revenue
Industry Overview
1, Definition
Paper packaging belongs to a kind of packaging, refers to the use of paper and cardboard and other raw materials, further processing of paper products made of production activities; and the use of corrugated cardboard, cardboard, cartons, boxes, etc. manufactured by the processing of a series of activities related to the industry's product packaging services.
Paper packaging products are rich in variety. According to the shape, material, function and downstream customer demand for classification criteria, can be divided into the following categories of products. Among them, the downstream demand classification, can be divided into ① easy to carry, thin and light, mainly used in daily necessities and FMCG food and other areas of light packaging; ② high strength, good cushioning performance, mainly used in medical equipment and electronic appliances and other industrial areas of heavy packaging; ③ exquisite workmanship, fine pattern, for high-end customer base, mainly used in gift boxes, luxury goods, high-grade cigarettes and alcohol and other areas of boutique packaging.
2, industry chain analysis: with a "narrow upstream, wide downstream" features
Paper packaging industry has a "narrow upstream, wide downstream" features. Paper packaging industry upstream for the paper, ink and other auxiliary materials industry, of which paper is the most important upstream industry; midstream for the paper packaging industry; downstream application industries, including food and beverage, household appliances, chemicals, chemicals, health care, consumer electronics and so on.
Paper packaging industry upstream raw materials industry, paper industry representatives of the Sun Paper, Bohui Paper, Nine Dragons Paper, Chenming Paper, Jingxing Paper, etc.; ink industry representatives of the Kodak education, Tianlong Group, Guangxin Materials, Oriental Materials, etc..
Midstream paper products packaging manufacturing industry representative enterprises are Mountain Eagle Paper, Jinjia Group, Hexing Packaging, Yu Tong Packaging, Jinsheng Group, the new Liantong Packaging, Meiyingsen Packaging, Forest Packaging, Hongxing Printing and so on.
Industry development history: the industry entered a stable development stage
In recent decades, the new packaging materials, especially plastic packages and containers in the food, beverages, industrial products and daily necessities, such as packaging has been more and more widely used, the paper packaging market to form a considerable impact, but paper in a variety of packaging materials in the primary position Still unshakeable.
Currently, China's paper packaging industry has formed a complete and reasonable industrial system, since the reform and opening up of the development process can be summarized in four stages:
Industry Development Status
1, scale enterprises more than 2500
Because of China's paper packaging industry manufacturers of low barriers to entry, and the downstream industry is wide, a large number of small carton factories dependent on local demand for survival, the industry is at the low end of the numerous small and medium-sized carton factories, the formation of an extremely decentralized industry pattern.
According to the "Operation of Paper and Cardboard Container Industry in 2020" released by the China Packaging Federation, there are 2,510 enterprises*** above the scale of China's paper and cardboard container industry, an increase of 58 from 2019.
2,corrugated carton output declined
From the viewpoint of supply, the overall supply of China's packaging industry has shown a shocking trend since 2017. According to the statistics of China Packaging Federation, China's paper packaging production reached 82,544,100 tons in 2020, of which, the output of cartonboard and paper products were 13,947,000 tons and 68,597,100 tons respectively, with a year-on-year growth of 6.67% and -2.35% respectively. In addition, as China's paper packaging products in the most widely used products, paper products under the corrugated box production in 2020 continued to maintain more than 30 million tons of level, 31.7084 million tons, a year-on-year decrease of 3.31%.
3, operating income to resume growth
In recent years, with China's paper packaging industry industrial structure adjustment in-depth, the scale of China's paper packaging industry shows a downward trend. 2021, China's paper and paperboard containers manufacturing industry to complete the cumulative income of 319.203 billion yuan, an increase of 13.56% year-on-year, ending the The momentum of two consecutive years of decline.
Industry Competition Pattern
1, Regional Competition Pattern: Eastern region production share further increased
With the adjustment of raw material policy and regional policy of papermaking, China's paper industry has gradually realized the development and optimization of the industry from west to east. West to East and optimize the industrial layout. From the east and west of the industrial layout, the eastern region production accounted for a further increase. According to the China Paper Association survey information, in 2020, China's eastern region of 11 provinces (districts, municipalities) paper and paperboard production of 82.43 million tons, accounting for as much as 73.21% of the national output; the central region of 8 provinces (districts) paper and paperboard production of 18.89 million tons, accounting for 16.78% of the national output; the western region of 12 provinces (municipalities, districts) paper and paperboard production of 11.28 million tons, accounting for 10.02%, all basically the same as in 2019.
Similar to the paper industry, which is mainly concentrated in the eastern part of China, China's eastern coastal region is also in the absolute leading position in the field of paper packaging industry. According to the China Packaging Federation statistics show that in 2020, most of the top five regions of China's major paper products packaging products output is located in the eastern seaboard, in which the production of boxboard ranked in the top five regions in turn is Fujian Province, Anhui Province, Guangdong Province, Hebei Province and Shandong Province, the combined output of boxboard in the five provinces accounted for 64.07% of the national output; the production of paper products ranked in the top five regions in turn is Guangdong Province, Zhejiang Province, Fujian Province, Hubei Province, as well as Sichuan Province, five provinces in the production of paper products accounted for 48% of national production.
2, the enterprise competition pattern: the competition pattern is decentralized
According to the China Packaging Federation issued the "2020 China Packaging Top 100 Enterprises Ranking", in the paper packaging industry, Shengda Group Ltd. has the highest revenue, market share of 4.43%; Heping Group Co. 4.43%; Hexing Packaging ranked second with a market share of 4.16%; and Yutong Packaging ranked third with a market share of 4.00%.
China's paper packaging industry, small and medium-sized enterprises accounted for more than 60%, CR5 market share of only about 15%, CR10 only about 20%. Competitive pattern of dispersion of the main reason: the industry is labor-intensive, printing equipment, although with certain capital barriers, but small and medium-sized manufacturers with low labor costs can still survive, the industry's entry threshold is still relatively low; products are sensitive to the cost of transportation, the existence of 100-150km
transportation radius, resulting in small and medium-sized manufacturers of regional fragmentation; downstream demand from the consumer electronics, cigarettes, alcohol, cosmetics, health care products, and so on. The downstream demand comes from consumer electronics, tobacco, alcohol, cosmetics, health products and many other industries, and the fragmentation of demand makes it difficult to increase the degree of concentration in the early stage of industry development.
Industry Development Prospects and Trends Forecast
1, 2027 market scale is expected to reach 378 billion yuan
Long-term, downstream industries, especially IT electronic products, and e-commerce Rapid development, will still drive the paper packaging industry to expand at a high rate. Coupled with the paper packaging industry downstream in the face of cyclical and non-cyclical a number of industries, the market is vast and decentralized, their own adjustability, high-quality enterprises through the expansion of production capacity, reduce costs, improve product quality and service is expected to obtain a higher return on profits. It is expected that in 2022-2027, the industry is expected to return to the low-speed growth track after adjusting the operating income of enterprises above designated size, and by 2027, the domestic market size of paper and paperboard container manufacturing industry is expected to reach 378 billion yuan.
2, the product will be high-end, branded development
The future development trend of China's paper products industry is as follows:
The above data refer to the Prospect Industry Research Institute China's paper packaging industry, market outlook and investment strategy planning analysis report