Global Specialty Paper Market, Size, Share, Opportunities and Forecast, 2020-2027

Global Specialty Paper Market is segmented By Product (Decor, Thermal, Carbonless, Kraft, Others), By Raw Material (Pulp, Fillers & Binders, Additives, Coatings, Others), By Application (Packaging & Labeling, Printing & Publishing, Building & Construction, Industrial, Others), and By Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) - Share, Size, Outlook, and Opportunity Analysis, 2020-2027

Market Overview

The Global Specialty Paper Market is expected to grow at a CAGR during the forecasting period (2020-2027).

Specialty papers are unique papers that are possessed of specific characteristics and properties designed for specific end-use. The primary raw material used for specialty paper is pulp (from wood chips, recycled paper, wood pulp, and cotton fiber), fed into the paper-making machine; afterward, the article is specialty chemicals coated for making it for a specific application. Specialty paper has emerged as a profitable segment for the paper industry. From paper currency to coffee filters, decor papers, insulation paper, and carbonless copy paper, they are present in consumers' daily lives.

Source: DataM Intelligence Analysis (2019)

Market Dynamics

The market's growth is attributed to change in the packaging mechanisms and equipment and the rise of e-commerce. Also, the rising demand for packaging and labeling across the delivery of goods has risen rapidly. It is likely to rise significantly in the future due to the rise in-home delivery services and e-commerce penetration.

Expansion of the foodservice industry will significantly impact the growth of the market.

With the increasing disposable income and the urban population's hectic lifestyles, the demand for packaged food products has increased significantly as specialty paper is widely used in the foodservice segment for packaging takeout products, the increasing packaged food products consumption, which further drives the specialty paper demand. For instance, Just Eat PLC UK reported that the household expenditure on takeaways is expected to reach GBP 11.2 billion by 2021.

In the food service industry, specialty papers are progressively being used for carryout boxes, paper tubes, paper plates, carryout bags, and cups, and more as they provide good barrier performance, high wet strength, print-ability, excellent flexibility, and increases product shelf life and allows seamless transportation handling.

Moreover, packaging and labeling have become differentiating factors for potential customers in the foodservice industry. Therefore, manufacturers and marketers are continually inventing and improving packaging and labeling solutions to create opportunities in the foodservice industry and create revenue from potential buyers. Such factors are expected to enhance the foodservice industry and significantly improve the demand for specialty papers in the global market during the forecast period.

COVID-19 Impact Analysis

The COVID-19 (coronavirus disease 2019) outburst has made a huge impact on the global supply chains. Undoubtedly, the COVID-19 pandemic has posed severe challenges to the worldwide specialty paper industry. On the other hand, the pandemic may provide unprecedented possibilities for specialty paper manufacturers in areas such as the increasing demand for food products packaging, corrugated packaging materials, medical specialty papers, and more.

Despite the pandemic, there is a vast growth in the consumption of food & beverage products and bakery products, which is expected to drive the specialty paper's market size in the global market during the forecast period.

Segment Analysis

The specialty paper market has been classified into decor, thermal, carbonless, kraft, and others based on the product.

The decor paper segment accounted for the highest market share in the global market.

In 2019, the decor paper held the largest market share in terms of value and volume owing to its wide use in paneling, furniture, and flooring surfaces. These papers are primarily available in single color or manufactured to make them printed with a wide range of designs.

Although, the kraft paper segment is anticipated to grow at the highest CAGR during the forecast period. The rise in demand for food packaging in emerging economic countries and developing retail infrastructure across India, Mexico, South Korea, Indonesia, and Malaysia are rapidly driving the segment's growth. Moreover, distribution methods, transformation in storage, and rising transportation activities are expected to drive the change in the coming years.

The specialty paper market has been classified into packaging & labeling, printing & publishing, building & construction, industrial, and others based on the application.

Printing & publishing segment dominated the global specialty paper market in 2019

In 2019, the printing & publishing application segment held the largest market share in the market. The growth in the specialty paper application in currency, cheque paper, security papers, and postage stamps is primarily enhancing the market share.

Sack kraft paper is primarily used for packaging material, and it is widely used in the packaging and labeling segment. Manufacturers are advancing the quality of sack kraft papers to increase their market share. For instance, Mondi Group, a packaging and paper leader, manufactured sack kraft paper integrated with high strength and quality. However, it is expected that the growth is high in developing economies and stagnant in the developed economies.

Source: DataM Intelligence Analysis (2019)

Geographical Analysis

Based on geography, the study analyzes the specialty paper market in the global market, including North America, Asia-Pacific, Europe, South America, and the Middle East & Africa.

Europe leads the global specialty papers market over the forecast period.

Europe was the largest revenue-generating region in the global specialty papers market in 2019, followed by North America and the Asia Pacific. Moreover, Europe is estimated to be the largest exporter of paper worldwide, and still, the region is investing more in this business. The rise in online shopping, packaging, and delivery of products is also expected to fuel the region's growth.

Asia Pacific is expected to expand at the highest CAGR in the global market during the forecast period. Key factors enhancing the regional market growth include rapid industrialization and a growing population. The development of the real estate sector in developing countries such as China, South Korea, and Japan drives the market due to its increasing electrical wiring.

Competitive Landscape

The specialty paper market is highly competitive, owing to the presence of ample food brands. The key specialty paper players which are contributing to the growth of the global market include Domtar, Glatfelter, Mondi, Sappi, Fedrigoni, International Paper Company, Nippon Paper, Stora Enso, Robert Wilson Paper Corporation, Griff Paper and Film, Sinar Mas Group Co., Ltd, Shandong Chenming Paper Holdings Co., Ltd, Anhui Shanying Paper Industry Co. Ltd, Yueyang Forest and Paper Co., Ltd, and Shandong Bohui Paper Industry Co. Ltd, among others. The market's key companies are adopting new product launches, merger & acquisition, and expansion strategies for global growth in the specialty paper market.   

Domtar

Overview: Domtar engages in the design, manufacturing, marketing, and distribution of fiber-based products, including specialty and packaging papers, absorbent hygiene products, and communication papers. It primarily operates through the following segments: personal care and pulp and paper. The pulp and paper segment comprises the manufacturing, marketing, and distribution of communication, specialty and packaging papers, fluff, softwood, and hardwood market pulp. The personal care segment consists of the manufacturing, marketing, and distribution of absorbent hygiene products. The company was established on March 7, 2007, and is headquartered in Fort Mill, SC, USA.

Product Portfolio: The company's portfolio comprises office papers, printing papers, publishing papers, specialty, technical papers, converting papers, digital and production inkjet papers, pulp products, personal care products, and other products.

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Visualize the specialty paper market segmentation composition by-product, raw material, application, and region, highlighting the critical commercial assets and players.

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