International Paper (IP)

Its products serve a broad range of customers, including manufacturers, food and beverage companies, e-commerce businesses, consumer goods producers, and other organisations that rely on protective and transport packaging. Corrugated packaging is closely tied to economic activity, retail supply chains, and industrial production, making International Paper an important supplier to everyday commerce.

The company’s scale is one of its defining characteristics. International Paper operates an integrated network that includes mills, converting facilities, recycling operations, and distribution capabilities. This structure helps it manage fibre sourcing, production, and customer service across large volumes. Its North American business accounts for a significant share of the region’s corrugated packaging market, while the addition of DS Smith strengthens its geographic reach and customer base in Europe.

International Paper’s strategy centres on packaging rather than a diversified paper portfolio, reflecting the long-term shift away from printing and writing paper and toward demand for sustainable, recyclable packaging. The company competes in a cyclical industry influenced by raw material costs, box demand, capacity levels, freight trends, and customer inventory cycles. Its investment case is closely linked to packaging volumes, pricing discipline, operational efficiency, and the ability to integrate and optimise its enlarged global footprint.