China's Packaging Industry to Grow 8% Annually for Next Three Years
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China's packaging industry is forecast to reach a total output value of RMB1.824 trillion in 2016, with a compound annual growth rate of 8.0% in 2013-2016, according to a new report being offered by Research and Markets, Dublin, Ireland, titled China Packaging Industry Report, 2013-2016. In China, packaging industry segments mainly refer to paper packaging, plastic packaging, metal packaging, glass packaging, package printing and packaging machinery, of which, paper packaging accounts for a large proportion of the market size (33%), followed by plastic packaging (31%) and package printing (15%).
Among all market segments, paper packaging materials enjoy advantages such as wide source, light weight, population-free, good workability, and low cost. In 2008-2012, China's paper and paperboard container industry witnessed compound annual growth rates of 17.27% and 24.86% in operating revenue and total profit, respectively. Despite light weight and good formability, plastic packaging is difficult to be degraded, therefore, environmentally friendly plastic packaging materials such as PVDC and EVOH with high barrier property and easy degradability will usher in a large market space in the future.
In 2012, influenced by the slowdown in downstream demand for paper packaging and plastic packaging, China's metal packaging container industry experienced better development than other market segments, with operating revenue and total profit up 14.02% and 18.63% year-over-year, respectively (6.51% and 12.83% for paper packaging; 7.96% and 2.03% for plastic packaging during the same period). The same year, revenue from metal packaging enterprises also performed well.
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