The American Forest & Paper Association (AF&PA) published its Q4 2025 Containerboard Quarterly report. According to the report, total containerboard production in 2025 fell 4% compared to 2024. Operating rates stayed stable over the same time period, ending the year above 91%.
While linerboard production for export declined throughout 2025, medium production for export finished the year up 3%.
Semichemical medium and recycled linerboard production were fairly consistent over the year, with overall declines of 1% and 2% respectively.
Mill inventories dropped significantly in October but increased during the rest of Q4, finishing the year at their highest level since early 2022. Historically, December inventories tend to be higher than any other month of the year.
About AF&PA
The American Forest & Paper Association (AF&PA) serves to advance public policies that foster economic growth, job creation and global competitiveness for a vital sector that makes the essential paper and packaging products Americans use every day.
The U.S. forest products industry employs more than 925,000 people, largely in rural America, and is among the top 10 manufacturing sector employers in 44 states. Our industry accounts for approximately 4.7% of the total U.S. manufacturing GDP, manufacturing more than $435 billion in products annually.
