Development Trends Of Pulp Molding Industry

1. Under the goal of "plastic ban", a trend of "replacing plastic with paper" has formed

During the "14th Five-Year Plan" period, driven by the "plastic ban" goal, the country further clarified the phased tasks and objectives of strengthening plastic pollution control. The National Development and Reform Commission and the Ministry of Ecology and Environment clearly stated in the "Opinions on Further Strengthening Plastic Pollution Control" that by 2025, the management system for the production, circulation, consumption, recycling and disposal of plastic products will be basically established, and a multi-dimensional co-governance system will be basically established. Formation, the level of development and application of alternative products has been further improved, the amount of plastic waste landfilled in key cities has been significantly reduced, and plastic pollution has been effectively controlled. A series of supporting policies have been introduced to promote the rapid development of degradable materials, and the demand for pulp molding products has expanded rapidly, accelerating the development of the pulp molding industry. The penetration rate of pulp molded products into plastic products continues to increase.

2. In the context of the “double carbon” policy, crop straw materials have received focus

Pulp molding products are an effective use of agricultural waste such as sugarcane bagasse and other crop straws. The "14th Five-Year Plan" Circular Economy Development Plan issued by the National Development and Reform Commission clearly includes the comprehensive utilization of straw into the five major areas of circular economy. One of the key projects is "Key Technologies and Equipment for Circular Economy". Under the "double carbon" goal, crop straw materials have received unprecedented attention due to their ability to reduce carbon emissions throughout their life cycle.

3. The development of catering takeout terminal market, pulp molded tableware has huge potential

The catering takeout market is one of the first areas targeted by global plastic removal policies. Pulp molded tableware is mainly used to replace existing related plastic and foam products. According to data from the National Bureau of Statistics, domestic catering revenue has increased from 3,964.4 billion yuan in 2017 to 4,689.5 billion yuan in 2021, and online takeout revenue has increased from 7.6% in 2017 to 21.40% in 2021. The compound annual growth rate is 35.09%. In the future, as Internet technology further matures, food delivery scenarios expand, residents’ purchasing power increases, and food logistics continue to be optimized, food delivery is expected to maintain sustained growth. The continuous growth of the catering industry and the rapid development of the takeout industry will drive the growth of pulp molded tableware.

4. Industry concentration needs to be improved, and the industrial structure will be further integrated.

The distribution of enterprises related to my country's pulp molding industry is relatively scattered, most of them are small in scale, and the industry concentration is low. In the field of mid-to-low-end products, there is widespread product homogeneity, resulting in fierce competition and low profit levels in the mid-to-low-end market. In the field of mid-to-high-end products such as tableware and industrial packaging, a small number of large enterprises have high-end brand customers. High-precision production technology, large-scale production capabilities, and full-service capabilities from design to production supply have resulted in the high-end market maintaining high gross margins and profit levels.

With the further advancement of environmental protection policies, consumption upgrades in downstream industries and the introduction of new technologies and new processes, leading companies in the industry will continue to expand their long-term accumulated technological advantages, product advantages, customer advantages, production advantages, etc. Market share and industry scale will be more concentrated, the industrial structure will be further integrated, and industrial resources will be more concentrated. A group of companies with independent research and development capabilities, improved management systems, high-quality service concepts, and representative of the direction of industrial development will stand out.

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