With the continuous improvement of the status of China's international paper industry, the independent research and development and innovation capabilities have been continuously enhanced. The technology innovation system combining domestic production, study and research design has basically taken shape. China's paper industry has gradually entered the technology-led type by the number-oriented type. During the period, the domestic independent research and development has produced a series of internationally advanced papermaking equipment. The proportion of advanced production capacity has increased by more than 50% from 35% during the “Eleventh Five-Year Plan” period; the quality of products has been greatly improved, and a number of high-quality paper and cardboard have appeared in the industry. Brand products; enhanced supply of household paper, specialty paper and packaging paper.

I. Overview of the packaging paper industry

China's packaging paper mainly uses waste paper as raw material, mainly including whiteboard paper, cardboard paper, corrugated paper and other cardboard. It is widely used in packaging food, medicine, household appliances, daily necessities, cotton fabrics, stationery, etc. The scope of use covers all areas of national production and life, and it is one of the paper types with a large proportion of paper and paperboard consumption in China.

Paper packaging benefits from easy processing, easy storage, convenient transportation, printable and recyclable degradation, and conforms to the development trend of “green packaging”, and the substitution of plastic, metal and glass packaging materials is gradually enhanced. Since 2008, China's paper packaging demand has been growing at an average annual rate of 6.5%, which is much faster than other countries in the world.

The packaging paper has a higher concentration than the overall paper industry. In recent years, under the restriction of environmental protection policies, some small and medium-sized packaging paper manufacturers have closed down production limits, resulting in a shrinking of packaging paper production capacity. The industry clearing provides opportunities for leading enterprises to expand their market share.

Second, market demand analysis

The paper industry is a basic raw material industry in the national economy. It is obviously affected by the economic growth rate. In recent years, due to factors such as downward pressure on economic growth, China's paper industry has experienced slowing or even negative growth, but packaging of cardboard, corrugated paper and other packaging. Paper consumption has maintained a good growth trend due to factors such as increased downstream demand. However, at present, China is implementing supply-side reforms. The papermaking industry has achieved remarkable results in removing backward production capacity. Some paper-making enterprises have restricted production and stopped production, and the supply and demand patterns of packaging paper are tight. Overcapacity began to decline year-on-year. Under the pressure of environmental protection, due to factors such as tight production constraints, paper enterprises in some regions are still in a state of suspension of production, while the enthusiasm for downstream procurement has begun to rise, the inventory of the industry began to decrease, and the supply of domestic packaging paper There is a continuing shortage.

1. Coated whiteboard paper market

The coated whiteboard paper is a mechanical cardboard made by finishing the white paint on the original paperboard. The coated white paper has a high whiteness, smoothness, ink absorption and printing gloss, and is mainly used for making single-sided color printing. Under the implementation of a series of national policies, the domestic coated white paper market has gradually recovered, benefiting from the growth of China's packaging market, the future demand will further increase.

2, cardboard paper market

Cardboard paper, also known as kraft paper and cattle cardboard, is one of the main paper types for carton paper. It is mainly made of corrugated cardboard boxes after being bonded with corrugated paper cores. It is mainly used for outer packaging of household appliances, daily necessities, needle cotton fabrics, stationery, Chinese and Western medicines. China's domestic container paper market has strong demand. Except for a slight decline in the overall economic impact of the industry in 2013, the overall growth trend remains.

Cardboard and corrugated paper are the main raw materials for the production of corrugated boxes, which are widely used in express packaging. In recent years, China's online shopping has developed rapidly, and the secondary packaging in the process of product transportation has driven the demand for cardboard paper. At present, the mobile shopping market is developing at a rapid pace. Typical e-commerce companies are gradually expanding into third- and fourth-tier cities and even rural markets, and driving demand growth in the domestic cardboard market.

3. Corrugated paper market

Corrugated paper is also known as corrugated medium. It is the raw material paper used to form the corrugated core of corrugated board. It is mainly used as the corrugated core layer (middle layer) of corrugated board. It plays an important role in the anti-shock performance of corrugated board, and can also be used as packaging paper for fragile items. In recent years, the volume of imports and exports has remained within 100,000 tons, and the balance of supply and demand in the domestic market is better. Also benefiting from the rapid development of e-commerce online shopping and the express delivery industry, the demand for corrugated paper in China has maintained a good development trend, but it has declined in the past two years. According to the data, the output of corrugated boxes in China from January to April 2018 was 9,792,200 tons, down 1.37% year-on-year.

Third, the analysis of industry supply factors

The rapid development of China's paper industry has attracted a large number of small and medium-sized enterprises to enter, and the production capacity has expanded rapidly in a short period of time. As the new capacity is mainly based on low-end production capacity, structural overcapacity has begun to appear. During the “Twelfth Five-Year Plan” period, market demand showed a slowdown. Paper and paperboard consumption increased from 91.73 million tons to 103.52 million tons, with an average annual growth rate of 2.4%.

1. Improve environmental protection requirements and effectively eliminate backward production capacity

In order to promote the healthy development of the industry, the state has implemented policies such as “Comprehensive Work Plan for Energy Conservation and Emission Reduction” and “Water Pollutant Emission Standard for Pulp and Paper Industry”, and clearly defined “resources, environment and structure” as the main line of development of the paper industry, and implemented the structure. Reduce emissions, project emission reduction and management emission reduction, comprehensive prevention and control of paper source, production process and terminal pollutants, and rectify grass pulp, large pollution sources and key watershed pulp and paper enterprises.

2. The restriction of imported waste paper restricts the blind expansion of industrial production capacity.

China's major waste paper importing countries are the United States, the United Kingdom and Japan, and the United States is the main source. The waste paper market is closely related to the macro economy. Due to the slow economic recovery of major waste exporting regions and countries such as Europe, the United States, and Japan, the supply of waste paper that can be exported to China is decreasing. China needs to be a major waste paper importer in the world. Further improve the domestic waste paper recycling rate and reduce the dependence on foreign imported waste paper.

In order to adjust the structure of China's paper industry, China has increased the recycling of waste paper during the “Twelfth Five-Year Plan” period. New projects and planned new projects with waste paper as the main raw material have increased and the scale has increased. At present, the utilization rate of waste paper has reached a high level in the world, but the recovery rate of waste paper is slower and still at a lower level in the world. Raw materials are still the main bottleneck restricting the development of China's paper industry in the future.