Chemicals and Materials
Chemicals and Materials Packaging
Packaging company revenue, calendar 2025
Who is largest after combinations? Smurfit Westrock, International Paper, and Amcor include 2024-2025 combinations. Those three bars are not organic growth.
Packaging Revenue Without Combination Years
What did the un-merged names do? Ball, Packaging Corporation of America, and Avery Dennison, the three names whose 2025 entity matches 2021. Avery Dennison 2022 is omitted because FMP is missing a quarter.
Packaging Revenue, Combination Names
Where did the 2024-2025 step-up come from? Smurfit Westrock, International Paper, and Amcor. Read these lines as entity change, not organic growth.
Combinations That Break Like-for-Like Revenue
Why are 2025 bars not organic? Read the 2025 packaging bars against this table. Headline deal prices are omitted where this page has not independently sourced them.
| Survivor | Combination | Window in the data | How to read 2025 revenue |
|---|---|---|---|
| SW | Smurfit Kappa and WestRock | Close in 2024, first full year 2025 | 2025 $31.18B is the combined paper-packaging entity, not WestRock run-rate |
| IP | DS Smith | Combination year 2025 | 2025 $24.90B is not comparable to 2024 $18.62B without a pro forma |
| AMCR | Berry Global | Combination year 2025 | 2025 $19.61B includes Berry. 2021-2024 are Amcor alone |
Packaging 2025 Revenue by Product Group
After grouping by product, which tape is largest? Paper packaging is large because two of the three names are combination-year entities. Flexible and rigid is Amcor including Berry. Cans are Ball. Labels are Avery Dennison.
Like-for-Like Packaging Operating Margin
Did the un-merged names keep a spread? Packaging Corp. stayed in the low-to-mid teens. Ball stayed high-single-digit. Avery Dennison 2022 is omitted. Combination names are left off because 2024-2025 mixes two companies.
US Paper Production Volume Change
Is the fiber packaging end-use tape growing? ACC Table 3 paper volumes were +1.4% in 2024 and -1.7% in 2025e. This is not an AF&PA mill operating rate.
US Plastic and Rubber Products Volume Change
Is converter demand for flexible and rigid packaging growing? ACC Table 3 plastic and rubber products were -1.6% in 2024 and -2.0% in 2025e. Resin production is on the chemicals tab.