Fastmarkets RISI Viewpoint: How many European containerboard projects will not happen in the next five years?
By Gleb Sinavskis, Economist, European Paper Packaging, Fastmarkets RISI
As we expected, European corrugated demand decelerated significantly in 2018. Additionally, long-awaited capacity additions started ramping up at the same time. As a result, prices declined late in the year, and are anticipated to fall further in 2019. The eurozone economy is slowing down, with December business activity figures dropping to a four-year low, and business confidence is at a six-year low. Brexit, trade wars, political uncertainty and the rapid deceleration of growth in China are all painting a deflationary picture for containerboard.
At the same time, there is an estimated 6.8 million ...