Summary:
In 2024, the ranking of China's top papermaking enterprises remains largely
stable compared to 2023, according to CCM market intelligence. Chenming, Huatai, Jiulong,
and Taiyang continue to lead the pack, maintaining their top four positions
since 2009. Despite overall stability, individual rankings have seen
significant shifts. While top-spot revenues and entry thresholds have
traditionally climbed, 2024 marks the first decline in years. Leading
enterprises, like Taiyang Paper and Shanying International, have accelerated
overseas investments. The average size of the top 20 enterprises has shrunk,
and CCM predicts ongoing fluctuations in future rankings.
Stable Leadership in China's Papermaking Industry
The list of China's top 20 papermaking enterprises for 2024
remains remarkably unchanged from the previous year, reflecting a consistent
lineup of industry leaders over the past five years. According to CCM market intelligence,
despite the overall stability, individual enterprises have experienced notable
shifts in their rankings. Chenming, Huatai, Jiulong, and Taiyang continue to
dominate the top four spots, a position they have held since 2009, indicating a
well-established hierarchy within the industry.
TOP 20 Papermaking Enterprises in China in 2024
Rising Thresholds and Declining Trends
Since 2019, the top spot and the threshold for entry into the
top 20 have consistently climbed. In 2023, the top enterprise surpassed the RMB
100 billion revenue mark, while the threshold reached RMB 8 billion. However,
the 2024 list fails to sustain this upward trajectory, marking the first
decline in years for both the top spot and threshold revenue. This change
signals potential shifts in the industry's dynamics and the challenges faced by
leading enterprises.
Accelerating Overseas Investments
In response to the ban on imported waste paper, insufficient
domestic demand, and international trade disputes, China's leading papermaking
enterprises, as highlighted in CCM Industrial Reports, have accelerated their overseas
investment strategies. These enterprises, with accumulated strengths, are
making new investment layouts with a global perspective to optimize resource
allocation for raw materials and products worldwide. This shift reflects the
maturity and growth of China's papermaking industry.
For instance, Taiyang Paper's Laos "forestation-pulping-papermaking
integration" project exemplifies sustainable development efforts.
Meanwhile, Shanying International's global strategy, deeply rooted in China
while spanning the US, UK, Sweden, and Norway, underscores its commitment to
international expansion. Despite the impact of the COVID-19 pandemic on
overseas strategies in recent years, each enterprise has developed unique
strategies to navigate domestic market challenges, as per CCM industry information.
Declining Average Size of Top Enterprises
The average size of the top
20 enterprises in 2024 has shrunk compared to the previous year, with an
average income of RMB 27.946 billion, reverting to the level of the 2022 list.
This decline is attributed to the widespread revenue decline of enterprises due
to various industry challenges in 2023. CCM market intelligence anticipates ongoing fluctuations in the list
of China's top 20 papermaking enterprises in the coming year.
About CCM:
CCM is the leading market intelligence provider for China's agriculture, chemicals, food & feed and life science markets. Founded in 2001, CCM offers a range of content solutions, from price and trade analysis to industry newsletters and customized market research reports. CCM is a brand of Kcomber Inc.
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