According to the survey data of China Pulp and Paper Research Institute, as of the end of 2021, there were about 4,000 enterprises related to China's pulp molding industry, and from the perspective of geographical distribution of related enterprises, 31 provinces and municipalities across the country (except Hong Kong, Macao and Taiwan) have pulp molding-related enterprises.
Guangdong has the largest number of businesses, around 1,200, but most of them are wholesale and retail businesses. Shandong is also a major pulp molding production province, with more than 500 enterprises. Shanghai, Jiangsu, Zhejiang, FujianIt is also the main area for pulp molding production, with about 300 companies respectively. The number of businesses in other regions is less.
With the increase in demand for pulp molding raw materials, more and more enterprises have invested in the construction of factories in Guangxi, Sichuan and other major raw material production areas. Hainan is the first province in China to implement a comprehensive ban on plastics, so many companies have invested in projects or carried out first-class activities in Hainan.
Referring to the survey data of China Pulp and Paper Research Institute, the registered capital of enterprises of different sizes related to the pulp molding industry is used to statistically statist, and most of the above about 4,000 enterprises are small and micro enterprises with registered capital of less than 5 million yuan, accounting for about 66%. There are more than 1,000 small and medium-sized enterprises with a registered capital of 5 million 5 million yuan, accounting for about 26%. There are only about 300 large and medium-sized enterprises with a registered capital of more than 50 million yuan, accounting for 8%. The industry concentration is low and the distribution is relatively scattered, mainly small retail enterprises.
In 2022, the total national production capacity of China's pulp molded products will be about 1.79 million tons, divided by application fields, including 510,000 tons of disposable catering packaging, 150,000 tons of high-quality industrial packaging, and more than 1.13 million tons of general industrial packaging. Due to the fact that there have been many new projects of pulp molded products in China in recent years, and the new production capacity has not been fully released, the national catering pulp molded packaging products in 2022 will be about 400,000 tons, and the overall market size is still small.
With the gradual escalation of the "plastic ban", the call for replacing plastic with paper is getting higher and higher, and many packaging products companies are accelerating the layout of pulp molding business. According to public information, as of the end of 2022, the layout of A-share listed companies and first-class listed companies involved in pulp molding business is mainly as follows:
YUTO Technology: announced in April 2020 that it plans to invest 400 million yuan in Haikou National High-tech Industrial Development Zone to build YUTO Technology Hainan Environmental Protection Industry Demonstration Base, research and development, production and sales of plant fiber molded products and high-end paper packaging From January to June 2023, the sales revenue of YUTO Technology's environmentally friendly paper and plastic products has reached 4$2.5 billion.
Zhongxin Environmental Protection: Operating income from January to June 2023 was 60,460660,000 yuan, net profit of 9,863 from January to June 202332,From January to June 2023, the company's capacity utilization rate decreased, mainly due to the fact that with the return to normal of international shipping, some customers adjusted the scale of stocking and shortened the delivery cycle, which affected the progress of placing orders with the company, resulting in a decline in the company's production and sales volume.
HomeLink Technology: May 2022, with 16.5 billion yuan to acquire a 75% stake in Debao, a pulp molding entrepreneur;In December 2022, it was announced that it plans to invest about 1 billion yuan to build a "project with an annual output of 100,000 tons of sugarbagasse degradable and environmentally friendly material products" in Laibin, Guangxi
Jinsheng Environmental Protection: In 2022, the production capacity of Jinsheng Environmental Protection Plant Fiber Molded Tableware will be 3660,000 tonnes with a production of 3190,000 tons.
Shaoneng shares: In November 2020, the feedback reply disclosed that it is expected that by the end of 2021, the annual production capacity of ecological plant fiber paper tableware will reach 146.85 million tons, in 2022, the actual output of ecological plant fiber paper tableware is 4300,000 tons.
Note: Qiaowang Paper Mould is also a leading listed company that is deeply involved in the pulp molding industry, but there is no further detailed information, so it is not listed in the table above.
To sum up, China's pulp molding industry is in the early stage of industry development, with the characteristics of low industry concentration, market competition presents the following characteristics: small and medium-sized manufacturers are mainly engaged in low value-added products such as poultry egg trays, low profit levels, and fierce competition;Leading manufacturers focus on products such as industrial packaging of tableware, and maintain relatively high profit levels.