国泰海通｜轻工：下游需求高景气，中国企业引领全球扩张——纸浆模塑行业专题报告

Core Insights - The article highlights that the United States accounts for 41.3% of China's global exports of pulp molded products, significantly surpassing other markets like Australia (7.0%) and Vietnam (5.4%), indicating strong domestic demand in the U.S. for these products [1] Demand Side - The demand for pulp molded products in the U.S. is driven by three factors: policies, consumer preferences, and product advantages [1] - Major companies such as Starbucks and McDonald's are expected to continue their sustainable packaging procurement plans, which will further stimulate demand in the pulp molded industry [1] Supply Side - China is identified as the main supplier of pulp molded production capacity, contrasting with the declining production capacity in the U.S. [1] - The article suggests that the increase in penetration rates and the optimization of supply-demand dynamics will open up growth opportunities in the pulp molded industry [1]