Paperboard Mills in the US - Market Research Report (2014-2029)
New York, United States
Last Updated: February 2024
NAICS 32213Revenue
$44.5bn
Past 5-Year Growth
Profit
$X.Xbn
Employees
40,092
Businesses
80
Wages
$X.Xbn
Paperboard Mills in the US industry analysis
Manufacturers in the Paperboard Mills industry produce paperboard, an intermediate good used primarily in manufacturing cardboard boxes. Industry demand is driven mainly by consumer purchases of products that use these containers for shipping and packaging. Growing consumer spending during the period has supported industry demand and boosted revenue, despite rising imports into the industry, which has limited the industry's overall growth. Revenue gains have also been limited as paperboard products have contended with rising competition from substitute materials, especially plastic packaging. Overall, revenue increased by a CAGR of 2.8% to $44.5 billion over the past five years, including a 5.8% increase in 2024.
Trends and Insights
- Substitutes cause revenue volatility. Since operators manufacture highly commoditized products with many readily available substitutes, they’re subject to price fluctuations that have caused revenue volatility to increase.
- Unbleached kraft paperboard is becoming environmentally friendly. Downstream manufacturers have increasingly favored recycled paperboard to reduce its societal influence, encouraging paperboard mills to focus on their environmental footprint by investing in recycling operations.
- The Southeast's proximity to raw materials makes it a prime location. The vicinity to raw materials, like wood chips, pulp and old corrugated containers allows for inexpensive transportation.
- Paperboard mills compete primarily on price. Since paperboard is used mainly as an input material for other products, fees must be highly competitive to achieve recurring sales.
Industry Overview
Market size and recent performance (2014-2029)
Industry revenue has grown at a CAGR of 2.8 % over the past five years, to reach an estimated $44.5bn in 2024.
Trends and Insights
Online shoppers mitigated the fall in demand amid the pandemic
- Demand for paperboard suffered as large swaths of the global economy shut down in response to pandemic induced regulations, including worldwide manufacturing and distribution industries.
- Additional trends and insights available with purchase
Source: IBISWorld
Industry outlook (2024-2029)
Market size is projected to grow over the next five years.
Trends and Insights
E-commerce will lead to a higher demand for paperboard products
- Consumer spending will rise, lifting demand for the wide range of products packaged with industry-relevant products. Supported by rising consumer spending, sales from e-commerce websites are also expected to grow, boosting demand for paperboard products.
Biggest companies in the Paperboard Mills in the US
| Company | Market Share (%)
2024 | Revenue ($m)
2024 | Profit ($m)
2024 | Profit Margin (%)
2024 |
|---|---|---|---|---|
Westrock Co | 14,397.6 | 981.4 | 6.8 | |
Packaging Corp Of America | 5,529.0 | 1,171.2 | 21.2 | |
International Paper Company | 4,854.8 | 478.7 | 9.9 |
To view the market share and analysis for all 6 top companies in this industry, view purchase options.
Products & Services Segmentation
Source: IBISWorld
Industry revenue is measured across several distinct product and services lines, including Unbleached kraft paperboard, Bleached paperboard and Semichemical and other paperboard. Unbleached kraft paperboard is the largest segment of the Paperboard Mills in the US.
Trends and Insights
Unbleached kraft paperboard will see an environmentally friendly change
- Unbleached kraft packaging and converting paperboard is made from pulp that contains no less than 80.0% wood fibers produced by the sulfate (kraft) process.
- More insights available in the full report
Widen you competitive advantage with related industries
Competitors
- Paper Mills in the US
Complementors
- Wood Pulp Mills in the US
- Cardboard Box & Container Manufacturing in the US
- Coated & Laminated Paper Manufacturing in the US
- Paper Product Manufacturing in the US
International industries
- Global Paper & Pulp Mills
- Paperboard Mills in Canada
- Pulp, Paper and Paperboard Manufacturing in Australia
- Pulp, Paper and Paperboard Manufacturing in New Zealand
- Paper & Paperboard Manufacturing in the UK
Table of Contents
About this industry
Industry definition
This industry processes pulp, used paper and old corrugated containers (OCC) into various paperboard varieties, including unbleached and bleached packaging paperboard, coated paperboard, industrial converting paperboard and recycled paperboard. The paperboard this industry produces is sold mainly to cardboard box and container manufacturers and to a range of consumer and industrial product producers for further processing.
What's included in this industry?
Producing unbleached and bleached packaging paperboardProducing recycled paperboardProducing semichemical paperboardProducing corrugated medium and linerboardCompanies
Westrock CoPackaging Corp Of AmericaInternational Paper CompanyPurchase this report to view all 6 major companies in this industry.
Related Terms
CONTAINERBOARDBLEACHED PAPERBOARDUNBLEACHED KRAFT PAPERBOARDRECYCLED PAPERBOARDLINERBOARDBLACK LIQUORIndustry Code
NAICS 32213 - Paperboard Mills in the US
Performance
Get an indication of the industry's health through historical, current and forward-looking trends in the performance indicators that make or break businesses.
Analyst insights
Substitutes cause revenue volatility. Since operators manufacture highly commoditized products with many readily available substitutes, they’re subject to price fluctuations ...
In this chapter (4)
- Current Performance
- Outlook
- Volatility
- Life Cycle
Key metrics
- Annual Revenue, Recent Growth, Forecast, Revenue Volatility
- Number of Employees, Recent Growth, Forecast, Employees per Business, Revenue per Employee
- Number of Businesses, Recent Growth, Forecast, Employees per Business, Revenue per Business
- Total Profit, Profit Margin, Profit per Business
Charts
- Revenue, including historical (2014-2023) and forecast (2024-2029)
- Employees, including historical (2014-2023) and forecast (2024-2029)
- Businesses, including historical (2014-2023) and forecast (2024-2029)
- Profit, including historical (2014-2024)
- Industry Volatility vs. Revenue Growth
- Industry Life Cycle
Detailed analysis
- Trends in supply, demand and current events that are driving current industry performance
- Expected trends, economic factors and ongoing events that drive the industry's outlook
- Key success factors for businesses to overcome volatility
- How contribution to GDP, industry saturation, innovation, consolidation, and technology and systems influence the industry's life cycle phase.
Products and Markets
Learn about an industry's products and services, markets and trends in international trade.
Analyst insight
Unbleached kraft paperboard is becoming environmentally friendly. Downstream manufacturers have increasingly favored recycled paperboard to reduce its societal influence, enc...
In this chapter
- Products & Services
- Major Markets
- International Trade
Key metrics
- Largest market segment and value in 2024
- Product innovation level
- Total imports, level and trend
- Total exports, level and trend
- Trade Balance
Charts
- Products & services segmentation in 2024
- Major market segmentation in 2024
- International trade, including imports by country and exports by country
Detailed analysis
- Trends impacting the recent performance of the industry's various segments
- Innovations in the industry's product or service offering, specialization or delivery method
- Key factors that successful businesses consider in their offerings
- Buying segments and key trends influencing demand for industry products and services
- Recent trends in import and export volumes, country of origin or destination, and expected future trends
Geographic Breakdown
Discover where business activity is most concentrated in an industry and the factors driving these trends to find opportunities and conduct regional benchmarking.
Analyst insights
The Southeast's proximity to raw materials makes it a prime location. The vicinity to raw materials, like wood chips, pulp and old corrugated containers allows for inexpensiv...
In this chapter (1)
- Business Locations
Charts
- Share of revenue, establishment, wages and employment in each state
- Share of population compared to establishments in each region in 2024
Tables
- Number and share of establishments in each state in 2024
- Number and share of revenue each state accounts for in 2024
- Number and share of wages each state accounts for in 2024
- Number and share of employees in each state in 2024
Detailed analysis
- Geographic spread of the industry across North America, and trends associated with changes in the business landscape
- Key success factors for businesses to use location to their advantage
Competitive Forces
Get data and insights on what's driving competition in an industry and the challenges industry operators and new entrants may face, with analysis built around Porter's Five Forces framework.
Analyst insights
Paperboard mills compete primarily on price. Since paperboard is used mainly as an input material for other products, fees must be highly competitive to achieve recurring sal...
In this chapter (4)
- Concentration
- Barriers to Entry
- Substitutes
- Buyer & Supplier Analysis
Key metrics
- Industry concentration level
- Industry competition level and trend
- Barriers to entry level and trend
- Substitutes level and trend
- Buyer power level and trend
- Supplier power level and trend
Charts
- Market share concentration among the top 4 suppliers from 2019-2024
- Supply chain including upstream supplying industries and downstream buying industries, flow chart
Detailed analysis
- Factors impacting the industry’s level of concentration, such as business distribution, new entrants, or merger and acquisition activity.
- Key success factors for businesses to manage the competitive environment of the industry.
- Challenges that potential industry entrants face such as legal, start-up costs, differentiation, labor/capital intensity and capital expenses.
- Key success factors for potential entrants to overcome barriers to entry.
- Competitive threats from potential substitutes for the industry’s own products and services.
- Key success factors for how successful businesses can compete with substitutes.
- Advantages that buyers have to keep favorable purchasing conditions.
- Advantages that suppliers have to maintain favorable selling conditions.
- Key success factors for how businesses can navigate buyer and supplier power.
Companies
Learn about the performance of the top companies in the industry.
Analyst insights
A few companies own more than 5.0% of the market share. For Westrock Co. and Packaging Corp Of America, firm supplier contracts and access to capital help control a large per...
In this chapter
- Market Share Concentration
- Companies
- Company Spotlights
Charts
- Industry market share by company in 2020 through 2024
- Major companies in the industry, including market share, revenue, profit and profit margin in 2024
- Overview of Westrock Co's performance by revenue, market share and profit margin from 2018 through 2024
- Overview of Packaging Corp Of America's performance by revenue, market share and profit margin from 2018 through 2024
- Overview of International Paper Company's performance by revenue, market share and profit margin from 2018 through 2024
- Overview of revenue, market share and profit margin trend for 3 additional companies
Detailed analysis
- Description and key data for Westrock Co, and factors influencing its performance in the industry
- Description and key data for Packaging Corp Of America, and factors influencing its performance in the industry
- Description and key data for International Paper Company, and factors influencing its performance in the industry
- Description, key data and performance trends for 3 additional companies
External Environment
Understand the demographic, economic and regulatory factors that shape how businesses in an industry perform.
Analyst insights
Recovering economic conditions post-pandemic have increased demand. Paperboard is ultimately required for packaging in a wide range of downstream consumer goods industries an...
In this chapter
- External Drivers
- Regulation & Policy
- Assistance
Key metrics
- Regulation & policy level and trend
- Assistance level and trend
Charts
- Regulation & Policy historical data and forecast (2014-2029)
- Assistance historical data and forecast (2014-2029)
Detailed analysis
- Demographic and macroeconomic factors influencing the industry, including Regulation & Policy and Assistance
- Major types of regulations, regulatory bodies, industry standards or specific regulations impacting requirements for industry operators
- Key governmental and non-governmental groups or policies that may provide some relief for industry operators.
Financial Benchmarks
View average costs for industry operators and compare financial data against an industry's financial benchmarks over time.
Analyst insights
Purchase costs have climbed because of volatile input costs. Paperboard is a homogenous product and prices tend to align with the costs of critical inputs like wood pulp.
In this chapter
- Cost Structure
- Financial Ratios
- Key Ratios
Key metrics
- Profit margin, and how it compares to the sector-wide margin
- Average wages, and how it compares to the sector-wide average wage
- Largest cost component as a percentage of revenue
- Industry average ratios for days' receivables, industry coverage and debt-to-net-worth ratio
Charts
- Average industry operating costs as a share of revenue, including purchases, wages, depreciation, utilities, rent, other costs and profit in 2024
- Average sector operating costs as a share of revenue, including purchases, wages, depreciation, utilities, rent, other costs and profit in 2024
- Investment vs. share of economy
Data tables
- Industry Multiples (2017-2022)
- Industry Tax Structure (2017-2022)
- Income Statement (2017-2022)
- Balance Sheet (2017-2022)
- Liquidity Ratios (2017-2022)
- Coverage Ratios (2017-2022)
- Leverage Ratios (2017-2022)
- Operating Ratios (2017-2022)
- Cash Flow & Debt Service Ratios (2014-2029)
- Revenue per Employee (2014-2029)
- Revenue per Enterprise (2014-2029)
- Employees per Establishment (2014-2029)
- Employees per Enterprise (2014-2029)
- Average Wage (2014-2029)
- Wages/Revenue (2014-2029)
- Establishments per Enterprise (2014-2029)
- IVA/Revenue (2014-2029)
- Imports/Demand (2014-2029)
- Exports/Revenue (2014-2029)
Detailed analysis
- Trends in the cost component for industry operators and their impact on industry costs and profitability
Key Statistics
Industry Data
Data Tables
Including values and annual change:
- Revenue (2014-2029)
- IVA (2014-2029)
- Establishments (2014-2029)
- Enterprises (2014-2029)
- Employment (2014-2029)
- Exports (2014-2029)
- Imports (2014-2029)
- Wages (2014-2029)
Methodology
How are IBISWorld reports created?
IBISWorld has been a leading provider of trusted industry research for over 50 years to the most successful companies worldwide. With offices in Australia, the United States, the United Kingdom, Germany and China, we are proud to have local teams of analysts that conduct research, data analysis and forecasting to produce data-driven industry reports.
Our analysts start with official, verified and publicly available sources of data to build the most accurate picture of each industry. Analysts then leverage their expertise and knowledge of the local markets to synthesize trends into digestible content for IBISWorld readers. Finally, each report is reviewed by one of IBISWorld’s editors, who provide quality assurance to ensure accuracy and readability.
IBISWorld relies on human-verified data and human-written analysis to compile each standard industry report. We do not use generative AI tools to write insights, although members can choose to leverage AI-based tools within the platform to generate additional analysis formats.
What data sources do IBISWorld analysts use?
Each industry report incorporates data and research from government databases, industry-specific sources, industry contacts, and our own proprietary database of statistics and analysis to provide balanced, independent and accurate insights.
Key data sources in the US include:
- US Census Bureau
- US Bureau of Labor Statistics
- US International Trade Commission
Analysts also use industry specific sources to complement catch-all sources, although their perspective may focus on a particular organization or representative body, rather than a clear overview of all industry operations. However, when balanced against other perspectives, industry-specific sources provide insights into industry trends.
These sources include:
- Industry and trade associations
- Industry federations or regulators
- Major industry players annual or quarterly filings
Finally, IBISWorld’s global data scientists maintain a proprietary database of macroeconomic and demand drivers, which our analysts use to help inform industry data and trends. They also maintain a database of statistics and analysis on thousands of industries, which has been built over our more than 50-year history and offers comprehensive insights into long-term trends.
How does IBISWorld forecast its data?
IBISWorld’s analysts and data scientists use the sources above to create forecasts for our proprietary datasets and industry statistics. Depending on the dataset, they may use regression analysis, multivariate analysis, time-series analysis or exponential smoothing techniques to project future data for the industry or driver. Additionally, analysts will leverage their local knowledge of industry operating and regulatory conditions to impart their best judgment on the forecast model.
IBISWorld prides itself on being a trusted, independent source of data, with over 50 years of experience building and maintaining rich datasets and forecasting tools. We are proud to be the keystone source of industry information for thousands of companies across the world.
Learn more about our methodology and data sourcing on the Help Center.
Frequently Asked Questions
Unlock comprehensive answers and precise data upon purchase. View purchase options.
What is the market size of the Paperboard Mills in the US industry in United States in 2024?
The market size of the Paperboard Mills in the US industry in United States is $44.5bn in 2024.
How many businesses are there in the Paperboard Mills in the US industry in 2024?
There are 80 businesses in the Paperboard Mills in the US industry in United States, which has grown at a CAGR of 1.0 % between 2019 and 2024.
Has the Paperboard Mills in the US industry in United States grown or declined over the past 5 years?
The market size of the Paperboard Mills in the US industry in United States has been growing at a CAGR of 2.8 % between 2019 and 2024.
What is the forecast growth of the Paperboard Mills in the US industry in United States over the next 5 years?
Over the next five years, the Paperboard Mills in the US industry in United States is expected to grow.
What are the biggest companies in the Paperboard Mills in the US market in United States?
The biggest companies operating in the Paperboard Mills market in United States are Westrock Co, Packaging Corp Of America and International Paper Company
What does the Paperboard Mills in the US in United States include?
Producing unbleached and bleached packaging paperboard and Producing recycled paperboard are part of the Paperboard Mills in the US industry.
Which companies have the highest market share in the Paperboard Mills in the US in United States?
The company holding the most market share in United States is Westrock Co.
How competitive is the Paperboard Mills in the US industry in United States?
The level of competition is high and steady in the Paperboard Mills in the US industry in United States.
