PKG · 10-Q · 2026Q2 · Full report

Market Demand Trends

PACKAGING CORP OF AMERICA · 2026-08-07 · Importance 35 · Surprise 48

North American corrugated products shipments increased 0.9% year over year in the second quarter of 2026, while PCA’s total corrugated shipments rose 24.3% per day, including 4.1% growth from the legacy PCA business. Industry containerboard production declined 2.3%, but industry inventories fell 12.5% to approximately 2.40 million tons, indicating tighter market availability. PCA reported continued strong Packaging demand and expects corrugated volume to increase in the third quarter, supported by one additional shipping day. North American UFS paper shipments declined 9.1% in the first six months as electronic transmission and document-storage alternatives continued to reduce traditional paper usage.

Key facts

• Corrugated product shipments were up 24.3% per day and in total compared to the second quarter of 2025; shipments from the legacy PCA business were up 4.1% per day and in total compared to the second quarter of 2025. source
• Reported industry containerboard inventories at the end of the second quarter of 2026 were approximately 2.40 million tons, down (12.5%) compared to the same period in 2025. source
• Reported containerboard export shipments were down (27.3%) compared to the second quarter of 2025. source
• Trade publications reported North American industry-wide corrugated products shipments were up 0.9% in total and per workday during the second quarter of 2026 compared to the same quarter of 2025. source
• Reported industry containerboard production decreased (2.3%) compared to the second quarter of 2025. source