USA Paper & Packaging Industry

US Paper & Packaging:
Industry Analysis Report
Prepared by Webenza

© Copyright 2014 WEBENZA INDIA PVT. LTD. The information contained herein is subject to change without notice.

Objective & Methodology
Executive Summary
Industry Analysis

Competitive Analysis


Objective & Methodology
• Objective:

•

– To understand the US Paper & Packaging Industry and also the Competitors
(both small and large players) presence & strength in the Digital Media space
Brands Considered: We considered a mix of local and international players
that include both small and big players)
– MeadWestvaco Corp., Sharon Paper & Packaging, Bemis, NAL Company, Just
Packaging, Tap Packaging Solutions, Higdon Paper & Packaging, Carter Paper
& Packaging, S&S Packaging, Evergreen Packaging, Ranpak, Graphic
Packaging, Clearwater Paper, RockTenn, Brimar
Packaging, Mailender, KapStone, Burrows Paper Corp., Domtar, Cleveland
Packaging and Joshen

• Region:
– Global and US

• Language:
– English

• Methodology & Sources:
– Secondary Research
– Publicly available free online sources

Global Packaging Industry Sized $400 Billion in
2012; Industry Observes “Regulations” and
“Sustainability” as the Major Influencers
•
Market Size
•
•
Market Trends

•
•

•

The Global Packaging market is valued US$400 Billion (approx.) in 2012 with
Europe being the leader (34%); “Food” remained on top with 51% share in Endmarket category; while, “Paper & Board” led with 34% share in Packaging Type
Whereas, US Paper & Packaging Industry is valued $115 Billion of which “Paper &
Board” accounted for 73% market share
“Paper Packaging” would remain the most preferred packaging type with
improved products and technologies
“Regulations” will have a greater influence on packaging design in the next ten
years. While, “Packaging” will also play a vital role in a product’s success
Technological advances such as the digital economy, social media, mobile devices
and big data tend to transform the business, as voted by Paper & Packaging CEOs
– For these CEOs, resource scarcity & climate change and demographic shifts
would also transform the Paper & Packaging business
The demand and growth on sustainable packaging is continued and is more likely
to increase as it is being driven by the government, regulations and by the
demands of retail customers
– The global green packaging market rises from $108.8 billion in 2011 to $177.7
billion in 2018, with a compound annual growth rate (CAGR) of 7.6 percent
– In the next ten years, “life-cycle analysis” and “recyclability” of packaging will
be the most important criteria for evaluating sustainable packaging


Paper & Packaging CEOs Concerned About the
Slow Or Negative Growth In Developed Countries
And Exchange Rate Volatility
•

Paper & Packaging CEOs are more concerned about a wide range of issues at a
Micro and Macro level
– Most (85%) of the respondents concerned about the slow or negative growth
in developed countries and Exchange Rate volatility
– A major group (77%) of respondents also worried about Government
Response to fiscal deficit and debt burden; unavailability of key skills in the
industry; and High or Volatile Energy Costs
– Raw Materials Prices and Over-regulations come next in the list

•

Market
Challenges

Tetra Pak launched the Tetra Brik Aseptic 250 Base Crystal, a new version of its
aseptic carton packages which features two crystal-shaped panels on the front
side of the package, enabling retailers to stack and distribute the packages
efficiently
Sonoco ThermoSafe announced the launch of new controlled room temperature
(CRT) versions of its Envoy Series of shipping packages
Tera-Barrier Films (TBF) invented a new stretchable plastic film to offer longer
shelf-life of pharmaceuticals, food and electronics
LPS Industries extended its product portfolio with the launch of new packaging
films ethylene vinyl alcohol (EVOH) and nanoparticles-based ultrathin

New Launches
& Innovation
•
•
•


Global Packaging Industry Sized $400 Billion in
2012 of which “Paper & Board” Type Accounted
for 34% Market Share
According to a report published by Ernst & Young (EY), the Global Packaging market is valued
US$400 Billion (approx.) in 2012 with Europe being the leader (34%); “Food” remained on top with
51% share in End-market category; while, “Paper & Board” led with 34% share in Packaging Type.

GLOBAL PACKAGING INDUSTRY SNAPSHOT - 2012
By Region

By End-Market

By Packaging Type

Total Market Size = US$400 Billion

US Paper & Packaging Industry is Valued $115
Billion of which “Paper & Board” Type
Accounted for 73% Market Share
According to American Forest and Paper Association, the US Paper and Packaging industry has
product sales of $115 billion a year, employs almost 400,000 people and pays approximately
$30 billion in annual compensation. Paper & Board packaging topped with 73% market share
followed by Glass.

US PAPER & PACKAGING INDUSTRY SNAPSHOT - 2012
By Packaging Type

Market Size: $115 Billion a Year

No. of Employees: 4,00,000
Compensation: $30 Billion annually

Total Market Size = US$115 Billion

Understanding the Packaging Industry Value
Chain and Role of the key Stakeholders
Packaging companies (known in the materials industry as “converters”) are engaged in the
conversion of commodity raw materials such as polymer, board or paper into value-added
consumer or industrial packaging. This puts them in a potentially vulnerable position in the
value chain illustrated below.

PACKAGING INDUSTRY VALUE CHAIN
• Key feedstock suppliers are typically large global
producers that have the power to pass on higher
commodity costs and increase prices to their
customers when supply is tight, which in turn
increases input prices for the packaging produce
• Major raw materials usually comprise more than
half of the total cost base of a packaging
manufacturer

• There are large and powerful consumer goods
companies that may not wish to pass price
increases to end consumers and use the threat of
switching to keep suppliers in line
• A good packaging management team will try to
ensure that customer contracts have a raw
material inflation pass-through mechanism


Industry Developments Over the Years
LATEST DEVELOPMENTS
In the developed world, overall demand for consumer goods has been relatively static.
However, demographic changes (e.g., decline of the nuclear family, increase in average age) and
increased market share competition between established FMCG producers has driven innovation
on the packaging side. Some of the Top new developments include:
1

Convenience features such as re-sealable packs, easy-opening and stand-up pouches.

2

Smaller pack sizes for single-serving and on-the-go use.

3

More promotional packs and brand extensions to maintain customer loyalty.

4

More eye-catching and colourful designs to enhance brand awareness and to stand out
on the shelf.

5

The development of the mass luxury or “masstige” category of cosmetics and other
consumer goods.
Packaging companies have to have well-developed and collaborative relationships with their
customers, who are closer to the end consumer.
Packaging companies that don’t invest in the right technologies and capabilities are at a
competitive disadvantage and threats.


Drivers: Influencing Packaging Demand
•

•

Growing
requirements for
brand
enhancement
or, differentiatio
n in an
increasingly
competitive
environment

•

New Packaging
Material
Development
Technology
advancement

•

•

Competition

Overall Population is growing
with a significant increase in rate
• The move towards
Population
smaller pack sizes as the
incidence of families
eating together at the
Demographics
dinner table become
less common
• The trend towards
smaller households

•

Key Drivers
Innovation

Rising Health awareness
among consumers

Convenience

•

Health
Concerns

Green/
Environment
Friendly

•

Increasing
requirement for
Convenience among
consumers
The trend towards
“on-the-go” lifestyles
among increasingly
time-poor consumers

Increasing awareness of
environmental issues
Source: Catalyst Review


Trend: Across Different Packaging Types
According to a Global Industry Analysts (GIA) report on the worldwide paper packaging industry
in 2012, that highlights some major trends across packaging types, “Paper Packaging” would
remain the most preferred packaging type with improved products and technologies.

Packaging Types

PAPER PACKAGING
• This an extensively used packaging
format, that rose demand from
end-users. Through continuous
innovations in technology and
production techniques, this is also
going to be used as a potential
alternative for
metal, steel, plastic, glass and
wood packaging
• The paper packaging industry is
likely to see tremendous growth
with the development of new
products and technologies and also
with the availability of an
enhanced range of paper
packaging products

CORRUGATED BOARD PACKAGING
• This particular sector witnessed
high demand from developing
countries such as
Poland, Russia, India, China and
Brazil
• The demand is due to widening
industrial activity and steady
economic growth
• Also, development of improved
small flutes and high quality
graphic board is expected to
promote access of corrugated
boxes in the traditional folding
cartons market

•
•
•

•

PAPERBORAD BOXES
Consumer goods companies are
the largest users of folding
paperboard boxes across the globe
The demand for these boxes
started to decline in the second
half of 2008
However, the folding cartons had
continued a favorable growth, due
to a major increase in demand
from the Asia Pacific countries
In the non-durables
sector, beverages and food signify
the fastest growing division for
folding paperboard boxes


Trend: “Regulations” Will Have A Greater
Influence on Packaging Design

According to a study done by Packaging World and DuPont, “Regulations” will have a greater
influence on packaging design in the next ten years. And at the same time, “Packaging” will play
a more vital role in a product’s success.

Trend: CEOs Ranked “Technological Advances”
as a Top Global Trend that will Impact Paper &
Packaging Business in the Next 5 Years
According to 17th Annual Global CEO Survey (Feb 2014) by PWC, the top three global trends
identified by the Paper & Packaging CEOs that would transform the paper and packaging business, in
the next five years include:
1. 4/5th of Paper & Packaging CEOs identified technological advances such as the digital
economy, social media, mobile devices and big data as key trends transforming their
business

2. Nearly 2/3rd CEOs mentioned resource scarcity & climate change as a trend that will
impact the business
3. While more than half believed that demographic shifts will also transform the business


Source: PWC

Trend: Demand for Sustainable Packaging
The demand and growth on sustainable packaging is continued and is more likely to increase as
it is being driven by the government, regulations and by the demands of retail customers.
Drivers for Sustainable
Packaging
RETAILERS & FMCGs
GOVERNMENT
• Proliferation of regulation and policy measures
(such as taxation)
• Move from weight to carbon focus

• Focused on weight reduction but no common
goals or definitions across retailers
• Driving cost-reducing or cost-neutral solutions
• Sometimes willing to pay a premium if
investing in ‘hero’ brand-enhancing projects

PACKAGERS & PACKING COMPANIES

END CUSTOMERS

• Reacting to retailer demands
• Leaders are investing in research and
development (R&D) and new products to
develop solutions
• Have historically been slow to engage in the
wider debate around sustainable packaging

• Demanding more sustainable solutions
• Unwilling to pay a premium for sustainable
products unless it is a key part of their brand
message
• Increasingly aware of ‘wasteful’ packaging due
to the growing requirement to sort & recycle


Source: PWC

Global Sustainable Packaging: A $178 Billion
Market by 2018
•

The Consultancy predicted that the global green packaging market will
rise from $108.8 billion in 2011 to $177.7 billion in 2018, with a
compound annual growth rate (CAGR) of 7.6 percent

•

In 2011, Europe had the highest share of the green packaging market at
$41.3 billion, followed by North America at $32.6 billion. However, in the
next 10 years, the highest growth will come in the Asia-Pacific
region, particularly in China and India

•

The major players in the sustainable packaging market identified as Amcor, Tetra Laval, Ball Corp., Constar International Inc., Crown
Holdings, E. I. Du Pont de Nemours, EnviroPAK, NatureWorks, Plantic
Technologies, Innoware Plastic, Rexam and Saint-Gobain

Market Size

Key Markets

Key Players

“I foresee sustainability
in a new context, where
food waste, shelf
life, etc., all goes more
together…”

“food safety and security
will be driven by the
increasingly global
nature of the food supply
chain and threats
against it…”

“The possible chemical
migration from the
improper packages
during different storage
can lead to chronic
cases…”

Sample Respondents’ Quotes
© Copyright 2014 WEBENZA INDIA PVT. LTD. The information contained herein is subject to change without notice. Source:

THOMASNET

Sustainable Packaging to be Evaluated through
Life-Cycle Analysis and Recyclability of Packaging
A survey of marketing and packaging professionals in 2012 found that the key focus of the
packaging world will shift over the next decade from “cost” to “sustainability”. In the next ten
years, “life-cycle analysis” and “recyclability” of packaging will be the most important criteria
for evaluating sustainable packaging.


Source: DuPont

Sustainable Packaging Opportunities
Packaging companies have focused on switching out traditional materials with greener ones.
But there are additional environmental and economic benefits to be gained by considering
more radical, substantive changes to the packaging value chain. The spectrum of possibilities
is illustrated below which is divided into four broad categories of opportunities.


Source: Deloitte

Challenges: How Concerned Paper & Packaging
CEOs Are and on What Areas?
CONCERNED AREAS FOR CEOs
•

Paper & Packaging CEOs are more
concerned about a wide range of
issues at a Micro and Macro level
– Most (85%) of the respondents
concerned about the slow or
negative growth in developed
countries and Exchange Rate
volatility
– A major group (77%) of
respondents also worried about
Government Response to fiscal
deficit and debt burden;
unavailability of key skills in the
industry; and High or Volatile
Energy Costs
– Raw Materials Prices and Overregulations come next in the list


Source: PWC

Packaging Shape & Design Innovation: 2013-14
•

Tetra Pak launched new shape for aseptic carton packages
– Food processing and packaging solutions provider Tetra Pak launched the Tetra
Brik Aseptic 250 Base Crystal, a new version of its aseptic carton packages
– The latest version features two crystal-shaped panels on the front side of the
package, enabling retailers to stack and distribute the packages efficiently

•

Sonoco launched new insulated shipping packages
– Temperature assurance packaging provider Sonoco ThermoSafe announced the
launch of new controlled room temperature (CRT) versions of its Envoy Series of
shipping packages
– The Envoy Series can maintain high-value products such as
pharmaceuticals, biologics and vaccines within a specified temperature range
during transport

•

Tera-Barrier invented new stretchable plastic film
– Tera-Barrier Films (TBF) invented a new stretchable plastic film to offer longer
shelf-life of pharmaceuticals, food and electronics
– The new plastic film featuring an encapsulated nanoparticle layer acting as an air
and moisture barrier that is claimed to be ten times better when compared to
the transparent oxide barriers used in food and pharmaceutical packaging
Source:

Packaging Gateway

Packaging Shape & Design Innovation:
2013-14 (Contd.)
•

LPS Industries launched new packaging films
– US-based flexible packaging materials manufacturer LPS Industries extended its product
portfolio with the launch of new packaging films ethylene vinyl alcohol (EVOH) and
nanoparticles-based ultrathin
– Both of the two new films are environmentally friendly and offer oxygen barrier properties.
Compliant with global regulatory guidelines, which can be used in place of PVDC (Saran-coated)
films in the flexible packaging sector

Source:

Packaging Gateway

Industrial Packaging Development: 2013-14
•

•

•

B2B Industrial Packaging launched new packaging products for commercial printers
– Packaging products supplier B2B Industrial Packaging expanded its product portfolio with the
launch of new line of products for the commercial printers market
– The new products are designed to push the company's business forward, with a wide selection
of tapes, void filler and corrugated boxes that are expected to appeal to commercial print
customers
Ulma introduced new horizontal flow wrapping machine for poultry wrapping
– Ulma Packaging developed a new horizontal flow wrapper called Artic Quad for cook-in-the-bag
poultry wrapping
– The new machinery produces ovenable polyethylene pillow pack bags featuring modified
atmosphere packaging to extend the shelf life of the products
– The flow wrapper comprises a long dwell sealing head to assure hermetically sealed packs
during high production speeds
Clariant launched airless dispensing system for pharmaceutical sector
– Clariant Healthcare Packaging collaborated with PumpArt System to introduce an airless
dispensing technology called Tubairless for the pharmaceutical sector
– The new dispensing system has been developed by combining an air chamber and a soft plastic
pouch sealed within a flexible tube that is said to protect sensitive cream-based formulas from
the adverse effects of outside air
Source:

Packaging Gateway

Industrial Packaging Development:
2013-14 (contd.)
•

•

Eastman expanded its medical packaging portfolio with copolyester launch
– Eastman Chemical introduced the new Eastalite copolyester into its medical packaging portfolio
– Eastalite is the first opaque copolyester offered by the company. The company said that for
opaque rigid medical packaging, the new styrene-free copolyester can be a sustainable
alternative to high-impact polystyrene (HIPS)
– The material was developed for applications such as work-in-progress trays, thermoformed
pharmaceutical packaging and packaging for medical devices or kits
Pure Flavor launched new packaging for food products
– North American produce company Pure Flavor introduced new packaging designs for its Aurora
Bites Mini Peppers and Beefsteak Slicer Tomatoes products
– The company claimed that new packaging is more dynamic and vibrant in terms of colours and
layout. It is also more environmentally friendly, cutting down on the use of plastic by up to
30%, in line with industry standards

Source:

Packaging Gateway

Packaging Research & Studies: 2013-14
•

•

Food packaging found to influence taste preferences for infants
– A new study has found that packaging aesthetics play a stronger role than
branding in influencing the taste preferences of infants in the US
– University of Calgary professor Charlene Elliott asked 65 children to choose
between food pairs that were presented in McDonald's, Starbucks, non-branded
white and non-branded colourful wrapping
MeadWestvaco released 2nd annual study on impacts of packaging in consumer
shopping behaviour
– MeadWestvaco (MWV) released its 2nd annual study, “Packaging Matters”, on the
impacts of packaging in consumer shopping behaviour, brand loyalty and overall
product satisfaction globally
– The study revealed that packaging plays a major role in brick-and-mortar retail
purchasing behaviours. Packaging Matters shows that:
• 64% of consumers have tried new brands because the packaging caught
their eye
• 41% have purchased a product again because of the packaging
• 36% have switched to other brands after negative experiences with new
packaging

Source:

Packaging Gateway

Packaging Process Improvement: 2013-14
•

•

Larger player like, MeadWestvaco aims to implement a Leaner Organization
– US-based packaging solutions company MeadWestvaco (MWV) announced a twoyear programme designed to generate increased earnings and cash flow
– It plans to implement a leaner organisation design across its packaging businesses
in order to simplify the structure and speed of decision making
– It also intends to align its corporate infrastructure to its revenue base and prioritise
capital on the highest-return projects to improve free cash flow
– It aims to reassess participation, to focus on business lines and markets within
packaging that provide an opportunity
– By the end of 2015, MWV's new programme is set to deliver annual pre-tax cost
savings of $100-$125 million
Packaging companies developed full lifecycle environmental tracking
– Unilever and UPM Raflatac together created the first lifecycle assessment (LCA)
model to identify the environmental impact of packaging labels throughout the
entire value chain
– The LCA model is helpful in finding the major environmental impacts of labels, and
then applying strategies to reduce those impacts. It enables the companies to
track their products from raw material through to consumer use and disposal

Source:

Packaging Gateway

Packaging Process Improvement: 2013-14
(contd.)
•

Companies partner to ease transition through FDA label changes
– FoodMinds joined with Nutrition Impact and EAS Consulting to create Food Label Compass, a
service to help food and drinks companies navigate the Food and Drug Administration (FDA)
overhaul of nutrition facts labels
– Because the FDA planned to update its 20-year-old label policies, presenting challenges and
opportunities that companies will need to quickly understand and adapt to, Food Label
Compass will harness the expertise of the founding firms to create a suite of nutrition
analysis, regulatory consulting and strategic services
– The service will provide in-depth analysis of the food and nutrient content of clients' brands
relative to the guidelines, and will be useful in identifying potential changes to serving size
rules and assessing the impact of changes to daily values in order to build labels modified to
reflect the new requirements

Source:

Packaging Gateway

Domtar and MeadWestvaco are the Oldest Players
who Lead in Revenue within the Category

5,000
100
50

Revenue (in million)

6,000

Competitive Landscape

1840

•

1870

1890

1910

1930

1950

1970

1990

Year of Establishment
Among the New Entrants, KapStone is the most prominent, while the oldest players like, Domtar
and MeadWestvaco anyways led in the category in terms of high Revenue

2008

Industry* Observes 0.26 Million as “Revenue Per
Employee” and Burrows Paper Topped the List
*Industry is purely based
on 21 competitors
considered in this
analysis and would be
just a representative of
overall industry.

Industry Benchmark = 0.26 million per employee

•

Small players like, Burrows Paper and Sharon Paper topped in Revenue Per Employee ratio within
the competition of players (mix of both local and international players including small and big
companies) which are considered in this analysis


Word Cloud: Competitors Products and Solutions
Summary of Competitors Products & Solutions

•

Within Paper & Packaging products and solutions category, some of the most common products
that competitors have include – paperboard, cartons, blocking, wrapping, corrugated
fibreboard, food grade papers, coated covers, dispensers, containerboard, corner
board, envelops, flexible packaging, food containers, etc.

Social Media Quotient (SMQ) Analysis
All Competitors: Overall SMQ

•
•

Social Media Quotient (SMQ) measures a
Brand’s performance on social channels. It is
calculated based on the analysis of
“Presence & Performance” of various social
media assets; it takes into accountConnections/Followers/Public
posts, engagement
level, influence, technology adoption etc.
SMQ score can either be calculated
individually considering the industry
benchmark or in comparison with a pre
defined group of competitors.

Out of 21 players considered for SMQ analysis, 5 players had no presence on any of
the Social Media channels and are not shown on the chart
Among all the competitors, Domtar (66.28) scored the maximum in SMQ followed by
KapStone (60.91) and RockTenn (42.59)


Social Media Quotient (SMQ) Analysis: Facebook
All Competitors: Facebook Score

•
•

Brand’s performance on social channels. It
is calculated based on the analysis of
“Presence & Performance” of various
social media assets; it takes into accountConnections/Followers/Public
posts, engagement

Out of 21 players considered for SMQ analysis, only 10 (48%) have Facebook presence
Among those, KapStone (64.12) scored the maximum in Facebook Score followed by
Tap Packaging (56.33) and Domtar (50)


Social Media Quotient (SMQ) Analysis: Twitter
All Competitors: Twitter Score

•
•

Brand’s performance on social channels.
It is calculated based on the analysis of
social media assets; it takes into
account-Connections/Followers/Public
posts, engagement
level, influence, technology adoption
etc. SMQ score can either be calculated

Out of 21 players considered for SMQ analysis, only 9 (43%) have Twitter presence
Among those, Domtar (40) scored the maximum in Twitter Score followed by KapStone
(22.28) and Mailender (20.84)


Social Media Quotient (SMQ) Analysis: LinkedIn
All Competitors: LinkedIn Score

•
•

Brand’s performance on social channels.
It is calculated based on the analysis of
social media assets; it takes into accountConnections/Followers/Public
posts, engagement

Out of 21 players considered for SMQ analysis, 16 (76%) have LinkedIn presence
Among those, Domtar (50) scored the maximum in LinkedIn Score followed by
RockTenn (40)


Social Media Quotient (SMQ) Analysis: Wikipedia
All Competitors: Wiki Score

•
•

Social Media Quotient
(SMQ) measures a Brand’s
performance on social
channels. It is calculated
based on the analysis of
“Presence & Performance”
of various social media
assets; it takes into
accountConnections/Followers/Pub
lic posts, engagement
level, influence, technology
adoption etc. SMQ score
can either be calculated
individually considering the
industry benchmark or in
comparison with a pre
defined group of
competitors.

Out of 21 players considered for SMQ analysis, only 9 (43%) have Wiki pages
Among those, Clearwater (30) and KapStone (30) scored the maximum


Competitors URLs: MeadWestvaco Website Has the
Highest Alexa Rank Among the Competitors
Alexa Traffic
Rank is a
measure of a
website's
popularity, comp
ared with all the
others out there
on the
internet, taking
into account both
the number of
visitors and the
number of pages
viewed on each
visit. The lower
the Traffic
Rank, the website
is more popular
and gets more
traffic.

•

All Competitors URLs: Alexa Ranks

Among all the competitors considered in the analysis, the URL of MeadWestvaco led in
Alexa Rank followed by RockTenn and Graphic Packaging


Competitors URLs: MeadWestvaco Also Has the
Highest Page Rank Among the Competitors
All Competitors URLs: Page Ranks

•

PageRank is a link analysis
algorithm applied by Google that
assigns a number or rank to each
hyperlinked web page within the
World Wide Web. The higher the
rank/number (1-10), more
powerful the website in terms of
searchability.

Among all the competitors considered in the analysis, the URL of MeadWestvaco led in
Page Rank (PR) followed by Domtar, Clearwater Paper and RockTenn


Competitors URLs: RockTenn Website Has
Been Shared Maximum Times on Facebook
Facebook Shares (No. of Times) of Competitors URLs

•

Among all the competitors
considered in the analysis, the
URL of RockTenn was shared
maximum times (316) on
Facebook followed by Domtar
and MeadWestvaco (164 times
each)

(Note: The data collected was using Facebook Graph)


THANK YOU
For more information
connect with us on

(+91) 9686308877
info@webenza.com


USA Paper & Packaging Industry

Recommandé

Recommandé

Contenu connexe

Tendances

Tendances (20)

En vedette

En vedette (16)

Similaire à USA Paper & Packaging Industry

Similaire à USA Paper & Packaging Industry (20)

Plus de Webenza India Pvt. Ltd

Plus de Webenza India Pvt. Ltd (14)

Dernier

Dernier (20)

USA Paper & Packaging Industry