In the next five years, India’s GDP is expected to double from the current US $2.5 trillion to US $5 trillion, which will double the demand for packaging and corrugated boxes. Affected by the epidemic, many paper mills in India have changed from printing and writing paper to kraft paper. Now several paper giants in India are trying to get involved in the production of corrugated boxes. Jkpaper, one of India’s largest paper groups, has decided to officially intervene in the packaging business.
According to the source, jkpaper’s board of directors has approved to invest 1.5 billion rupees to set up a corrugated packaging plant in Punjab, India. The plant is expected to start production in December 2022, and the box making capacity will reach 50000 tons per year. The kraft paper raw materials used in the factory will be mainly purchased and will not be produced in-house.
The corrugated box industry in India is an important part of the manufacturing industry. The domestic manufacturing industry in India relies heavily on corrugated packaging for finished product transportation and loading and unloading. According to statistics, the value of Indian packaging market will reach US $50.5 billion in 2020. By 2025, it is expected to reach US $204.81 billion. This means that the compound annual growth rate of the Indian packaging market during 2020-2025 is 26.7%.
Post time: Sep-01-2021