The growth rate of the specialty paper segment is divided, and there is a wide space for high-quality tracks.
1) Food packaging paper: We estimate that the industry scale in 2019 is about 1.5 million tons, and CR4 (the top four companies in the industry) is about 54%. It is expected that under the plastic ban, the use of paper instead of plastic will drive the demand for food packaging paper. Take the takeaway field as an example. According to our calculations, it is estimated that the demand for food packaging paper substitution will be about 2.13 million tons in 2025, with a huge space;
2) Glassine paper: In 2018, my country's glassine paper output was 302,000 tons, and the seven-year CAGR reached 75%. The basic production capacity of the industry is basically controlled by five companies, with a high degree of concentration. It is expected that the further growth of the express delivery business and the continuous increase in the per capita label consumption will drive the rapid growth of the industry in the future;
1) Food packaging paper: We estimate that the industry scale in 2019 is about 1.5 million tons, and CR4 (the top four companies in the industry) is about 54%. It is expected that under the plastic ban, the use of paper instead of plastic will drive the demand for food packaging paper. Take the takeaway field as an example. According to our calculations, it is estimated that the demand for food packaging paper substitution will be about 2.13 million tons in 2025, with a huge space;
2) Glassine paper: In 2018, my country's glassine paper output was 302,000 tons, and the seven-year CAGR reached 75%. The basic production capacity of the industry is basically controlled by five companies, with a high degree of concentration. It is expected that the further growth of the express delivery business and the continuous increase in the per capita label consumption will drive the rapid growth of the industry in the future;
3) Thermal transfer paper: In 2018, the output of thermal transfer paper in my country was 192,000 tons, and the seven-year CAGR reached 9.6%. It is expected that the increase in the penetration rate of digital printing in the printing and dyeing field will bring rapid growth in the scale of the industry;
4) Thermal paper: In 2018, the output of thermal paper in my country was 490,000 tons, and the seven-year CAGR reached 18.4%. With the recovery of the industry, the demand for high-end thermal paper such as movie tickets will also resume growth;
5) Decorative base paper: In 2018, the output of decorative base paper in my country was 1.122 million tons, and the seven-year CAGR reached 10.3%. With the improvement of residents' environmental protection awareness and individual needs, artificial boards gradually replaced solid wood boards, and the proportion of board veneers increased, promoting home decoration. Demand for paper is growing.
4) Thermal paper: In 2018, the output of thermal paper in my country was 490,000 tons, and the seven-year CAGR reached 18.4%. With the recovery of the industry, the demand for high-end thermal paper such as movie tickets will also resume growth;
5) Decorative base paper: In 2018, the output of decorative base paper in my country was 1.122 million tons, and the seven-year CAGR reached 10.3%. With the improvement of residents' environmental protection awareness and individual needs, artificial boards gradually replaced solid wood boards, and the proportion of board veneers increased, promoting home decoration. Demand for paper is growing.
