For the Quarter Ending March 2025
North America
In Q1 2025, the North American packaging materials market exhibited a mix of trends across various segments. BOPET film prices showed a marginal uptick of 0.32% amid stable feedstock PET costs, tight supply due to weather-related disruptions, and cautious downstream demand. BOPP film prices also increased slightly by 0.71%, driven by steady supply-demand dynamics and expectations of seasonal demand recovery, despite macroeconomic uncertainties.
In contrast, corrugated box prices declined sharply by 5.40%, impacted by new tariffs on cross-border trade and cautious procurement behavior. Cardboard prices dipped marginally by 0.18%, reflecting market normalization post restocking and steady supply.
LDPE prices fell by 0.61% due to a March downturn after an early-quarter surge, influenced by winter-related supply disruptions and later weakened demand. HDPE prices, however, rose by 1.96%, supported by strong domestic and export demand, tight supply, and weather-related production issues. Polycarbonate (PC) prices declined by 2.81%, driven by consistent supply, weak downstream demand, and competitive imports.
Overall, the market portrayed a cautiously balanced outlook influenced by economic headwinds, seasonal shifts, and evolving trade policies.
Europe
In Q1 2025, the European packaging materials market displayed a mixed performance across various segments. BOPET film prices in Germany declined by 1.13% due to weak consumer sentiment and lower PET feedstock prices, despite a mid-quarter rebound driven by increased r-PET demand and supply constraints. BOPP film experienced a sharper decline of 2.13%, reflecting muted downstream demand, elevated inventories, and competitive imports. In contrast, corrugated box prices surged by 4.10%, bolstered by robust demand, stockpiling, and logistical disruptions, while cardboard prices rose by 2.34%, supported by restocking activity and resilient export demand. Plywood prices dropped marginally by 0.85%, amid supply chain challenges and tariffs on Russian imports. Kraft paper showed price stability without a quantified change, driven by strong packaging demand and tight raw material availability. LDPE prices fell 1.02% due to fragile demand despite supply disruptions and a temporary price uptick within the quarter. HDPE prices declined by 1.55% as steady supply and subdued demand from key sectors weighed on the market. Polycarbonate (PC) faced the steepest drop of 6.72%, impacted by declining demand from automotive and electronics sectors, high inventory levels, and falling feedstock costs.
APAC
In the first quarter of 2025, packaging material prices across the APAC region showed mixed trends. BOPET was the only material to register a positive gain, increasing by 0.84%, supported by renewed trading interest and supply constraints despite weaker downstream packaging activity later in the quarter. Conversely, BOPP prices dropped by 4.19% amid abundant supply and muted demand from the packaging industry. Corrugated box prices saw the steepest decline of 4.51%, driven by falling raw material costs and subdued export demand, although steady domestic consumption helped cushion the impact. Cardboard prices dipped by 1.73%, reflecting balanced market conditions influenced by fluctuating raw material costs and moderate demand from the FMCG and e-commerce sectors. Plywood and Kraft paper declined by 0.73% and 1.22% respectively, due to weak downstream demand, production halts, and raw material procurement challenges. LDPE prices decreased slightly by 1.00%, even as demand remained strong from packaging and agricultural sectors; tight supply and higher import offers had limited impact. HDPE posted the sharpest drop among polyolefins at 6.61%, affected by increased Chinese exports, subdued global demand, and stabilized regional inventory levels. Lastly, Polycarbonate (PC) prices fell by 4.83%, reflecting oversupply, weak cost support from feedstocks, and slow recovery in downstream automotive and electronics sectors. Overall, the quarter was marked by supply-demand imbalances, cautious procurement behavior, and economic uncertainties.
For the Quarter Ending December 2024
North America
The North American packaging materials market in Q4 2024 exhibited varied price movements across key commodities, influenced by seasonal demand, supply disruptions, and economic factors. Corrugated box prices initially rose due to hurricane-related production disruptions and strong holiday-driven demand but declined later as supply normalized and consumer demand softened. Cardboard prices followed a similar trend, peaking in November on holiday e-commerce activity before dropping in December as purchasing slowed post-Thanksgiving. BOPET film prices remained weak throughout the quarter due to excess supply, lower PET feedstock costs, and subdued demand, despite temporary freight cost increases from labor strikes. BOPP film prices declined steadily, driven by reduced pre-New Year demand, high global supply, and stable raw material costs. HDPE and LDPE markets faced significant downturns, pressured by weak packaging demand, oversupply, and logistical disruptions from hurricanes and port strikes, with additional uncertainty stemming from the U.S. Presidential Election and potential tariff hikes. Meanwhile, Polycarbonate prices remained stable, supported by strong automotive demand, balanced supply, and lower production costs amid declining crude oil prices. Overall, Q4 2024 highlighted a mixed performance, with some materials benefiting from seasonal trends while others faced persistent downward pressure due to oversupply and economic uncertainty.
Asia
In Q4 2024, the Asia-Pacific (APAC) packaging materials market experienced mixed trends. Corrugated box prices stabilized early in the quarter due to seasonal demand, but declined later amid weaker external demand and oversupply in the papermaking industry. The Chinese cardboard market saw price increases in October due to strong demand, but prices reversed in December as demand softened and oversupply grew. The BOPET film market faced a bearish quarter, with weak demand and oversupply leading to depressed prices, while BOPP film prices fell due to reduced demand post-peak season and increased supply. The HDPE market declined as weak demand from packaging, automotive, and construction sectors, alongside geopolitical uncertainties, pressured prices. LDPE prices saw initial increases, but supply chain disruptions and reduced demand in December led to a decline. The Polycarbonate market also faced a slight price decrease due to oversupply, particularly in China, and weak demand from automotive and electronics sectors. Overall, Q4 2024 was characterized by early stability followed by price declines across key packaging materials due to fluctuating demand, oversupply, and macroeconomic challenges.
Europe
In Q4 2024, the European packaging materials market exhibited a mix of price fluctuations across various sectors. Corrugated box prices initially declined due to weak demand from industrial sectors like automotive and global supply chain inefficiencies but stabilized later in the quarter as seasonal demand from retail and e-commerce sectors, coupled with rising raw material costs, supported prices. The German cardboard market saw an increase in prices in October driven by higher production costs but reversed in December as post-holiday demand slowed. BOPET film prices in Europe faced downward pressure from oversupply and weak downstream demand, exacerbated by global supply chain issues. Similarly, BOPP film prices fell due to reduced demand and increased supply, particularly from Asia. HDPE and LDPE markets experienced declines driven by falling feedstock prices, weak demand from construction and automotive sectors, and geopolitical uncertainties, further pressured by oversupply and cautious buyer behavior. The Polycarbonate market also saw price reductions due to weak demand, particularly in the automotive sector, and logistical disruptions. Overall, Q4 2024 in Europe was marked by a challenging environment with fluctuating demand, supply chain disruptions, and economic uncertainties impacting prices across packaging materials.
