ing to preliminary figures, reflecting the heavy im- pact on the industry of high energy prices and an abrupt slowdown of the European economy during the second half of the past year. Total production in 2022 reached 84.8 million tons, with a decrease reported in almost all paper and board grades with the notable exception of household and sanitary grades. At the same time, consumption of paper has remained stable in spite of the EU’s economic slowdown, its GDP growing by 0.3 percent in the third quarter and stagnating during the last quarter of 2022 according to the latest estimates. The EU economy is now forecast to grow only by 0.8 percent in 2023 and by 1.6 percent in 2024. The difference between a decreased production and a stable consumption resulted in a strong ero- sion of the paper trade balance. However, the de- crease in production was also observed in the larg- est producing countries worldwide. Canada, Japan, the United States and South Korea, recorded paper production falls ranging between 0.5 percent and 3.5 percent. In Europe, the downward trend can be attributed to a number of factors, chief amongst them being the cost of energy, which has forced many mills to temporarily stop their machines. In terms of individual paper grades, the structur- European Paper, Board (Cont’d from Page 1)
al divergence in the production trends for graph- ic grades and packaging as well as sanitary and household grades continued in 2022. The utilization of paper for recycling by compa- nies in the geographic area covered by Cepi mem- bers decreased by 6.4 percent compared to 2021. High electricity and gas prices have significantly affected recycling mills and non-integrated paper mills especially in the second half of 2022. Paper recycling is even more than before performed in Europe, with 96 percent of European paper for recycling being recycled by European paper mills, while at the same time exports went down by close to 10 percent, partly due to extended lockdowns in Asia. Consumption Stable The overall consumption of paper and board in Cepi countries in 2022 remained stable compared to 2021, based on the latest data available. It ben- efited from the favorable economic environment observed during the first half of the year, which was then followed by the abrupt slowing down of the economy during the second half. As a result of recent consumption pattern changes, demand for sanitary and household grades has grown by3.6 percent in 2022.
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Flexo Market News February 27, 2023 3
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